Space Launch Services Market to exceed USD 54.60 Bn by 2030, driven by remarkable technological advancements

The Space Launch Services Market is competitive, driven by growing demand for satellite deployment and space exploration.

AUSTIN, TEXAS, UNITED STATES, January 23, 2024 /EINPresswire.com/ -- Space Launch Services Market Overview:

The 𝐒𝐩𝐚𝐜𝐞 𝐋𝐚𝐮𝐧𝐜𝐡 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 is witnessing significant growth driven by the increasing demand for launching satellites for communication, navigation, earth observation, and scientific research purposes. With the growing number of small satellites and mega-constellations being deployed, there is a need for reliable and cost-effective launch solutions. This has led to the emergence of new players offering small satellite launch services using dedicated small launch vehicles, catering to the specific needs of this segment. Additionally, the market is witnessing a shift towards reusable launch vehicles, which promise reduced launch costs and increased launch frequency, further driving market growth.

The active participation of private companies in space exploration has diversified the market. Commercial entities are now undertaking missions beyond Earth's orbit, contributing to an expanding market for Space Launch Services that cater to various payloads, including commercial satellites, cargo missions, and crewed spaceflights.

Market Sizing Paragraph:

According to the latest SNS Insider report, the Space Launch Services Market, valued at USD 17.8 billion in 2022, is poised to achieve a market size of USD 54.60 billion by 2030. This phenomenal growth is fueled by a robust Compound Annual Growth Rate (CAGR) of 15.04% projected over the forecast period from 2023 to 2030.

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Major Key Players Included are:

→ China Aerospace Science And Technology Corporation
→ Safran Sa
→ Space Exploration Technologies Corp
→ (SpaceX)
→ Starsem
→ Airbus S.A.S
→ Antrix Corporation Limited
→ Northrop Grumman Corporation
→ Rocket Lab USA
→ Lockheed Martin Corporation
→ Mitsubishi Heavy Industries & Other Players.

Market Report Scope

Space Launch Services find extensive applications across commercial and economic growth, security & defense, disaster response, environmental monitoring, and more. Factors such as increased government investment in space exploration, a growing demand for commercial non-geostationary satellite orbit (NGSO) launches, and a surge in satellite launches globally are driving market growth. While the high initial investment remains a challenge, opportunities arise from a focus on price reduction through product innovation and the burgeoning space tourism sector.

Space launch service companies worldwide, including Arianespace, Antrix Corporation, Blue Origin, Eurockot Launch Services, and Mitsubishi Heavy Industries via MHI Launch Services, play pivotal roles. Former players like Orbital ATK and Orbital Sciences Corporation, along with government-owned or funded organizations such as NASA, DARPA, JAXA, and ISRO, contribute significantly to the market.

The digital battlefield, characterized by a network of connected surveillance & communication systems, weapon systems, and aerial platforms, exemplifies the crucial role of Space Launch Services in modern warfare and strategic defense.

Market Analysis

The Space Launch Services Market is undergoing remarkable growth, driven by technological advancements and the increasing demand for satellite deployments. Communication, Earth observation, and navigation technologies are advancing, intensifying the need for reliable, frequent, and cost-effective Space Launch Services. The market's pivotal role in facilitating a wide range of missions and applications is evident in its thriving ecosystem.

Moreover, the Space Launch Services Market is experiencing a surge in commercial activities, with private companies entering the space industry and offering launch services to both government and commercial customers. This trend is fueled by advancements in technology, such as the development of reusable rockets and the increasing use of 3D printing in rocket manufacturing, which have lowered barriers to entry and encouraged competition. Furthermore, the emergence of space tourism and the growing interest in commercial space exploration missions are expected to create new opportunities for the Space Launch Services Market, driving innovation and investment in the sector.

Segment Analysis

• Based on orbit type, the LEO segment is expected to dominate, driven by the increasing frequency of spaceflights for cargo transport to the International Orbital Station (ISS) and the deployment of small satellites. The GEO segment is poised for significant growth due to rising demand for laboratory research and observational space research.

• In terms of launch vehicles, the small lift launch vehicle segment is anticipated to maintain dominance, fueled by the increasing number of small satellite missions. The heavy lift launch vehicle segment is expected to grow, driven by interplanetary missions and lunar missions.

• The small lift launch vehicle segment is projected to be the fastest growing, owing to rising demand for small satellites globally. The medium lift launch vehicle segment will witness moderate growth due to the increasing number of rideshare space missions.

Market Segmentation & Sub-segmentation included are:

by Launch Platform:
• Land
• Air
• Sea

by Service Type:
• Pre-Launch
• Post-Launch

by Launch Vehicle:
• Small
• Heavy

by End-User:
• Government & Military
• Commercial

by Payload:
• Satellite
• Human Spaceflight
• Cargo
• Testing Probes
• Stratollite

Growth Factors

• The growing reliance on satellites for communication, surveillance, and scientific research has fueled the demand for Space Launch Services. Governments, private enterprises, and research institutions are actively deploying satellites, driving market growth.

• The trend of miniaturized satellites for diverse applications, such as Earth observation and communication, has created a niche market within the broader Space Launch Services segment. The demand for cost-effective and flexible launch solutions for small satellites is contributing significantly to overall market expansion.

• Technological innovations, particularly in reusable rocket technology, are driving down the costs associated with space missions. Reusability not only enhances cost-effectiveness but also reduces turnaround times between launches, making space more accessible and attractive to a broader customer base.

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Key Regional Developments

Anticipated to be the fastest-growing region, driven by increasing demand for space launches from China, India, Japan, and South Korea. Private space industry focus on developing low-cost launch vehicles further enhances progress. Significant growth expected, fueled by increased demand for advanced satellites. Recent contracts won by IENAI SPACE in Spain contribute to regional market development. Substantial growth forecasted, driven by rising investments in the space industry, particularly in countries like the UAE and Israel.

South America moderate growth projected, with increasing space launch service contracts in countries like Brazil and Argentina contributing to market expansion.

Key Takeaways

• The Space Launch Services Marketis on a trajectory to exceed USD 54.60 billion by 2030, propelled by technological leaps and increasing demand for satellite deployments.

• Dominance in specific segments, such as LEO and small lift launch vehicles, reflects the market's adaptability to diverse mission requirements.

• Regional developments in Asia Pacific and Europe, driven by increased demand and strategic contracts, underscore the global nature of Space Launch Services.

Recent Developments

In March 2022: Rocket Lab successfully deployed a second Synthetic Aperture Radar (SAR) satellite for Synspective, marking a total of 110 satellites launched. In January 2018, Rocket Lab launched an Electron rocket into space under USD 5 million, showcasing cost-effectiveness and reliability in Space Launch Services.

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Table of Contents – Major Key Points

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession

5. Value Chain Analysis

6. Porter’s 5 Forces Model

7. PEST Analysis

8. Space Launch Services Market, by Launch Platform

9. Space Launch Services Market, by Service Type

10. Space Launch Services Market, by Launch Vehicle

11. Space Launch Services Market, by End-User

12. Space Launch Services Market, by Payload

13. Regional Analysis

14. Company Profiles

15. Competitive Landscape

16. Conclusion

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