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Space Launch Services Market By Service Type, End User Segment & Regional Forecasts, 2019 – 2025
Based on end user segment, space launch services market is divided into commercial and government & military. Government & military segment growth is attributed to increasing investment in orbital probe missions by military and facilitating better educational, surveillance, information collection and precision navigation by government sector.
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North America space launch services market is expected to witness significant growth during the forecast timeframe owing to strong presence of manufacturers in the region focusing on the business expansion. Moreover, presence of end-user industries dealing in aerospace and defense such as Boeing will further support the Space Launcher market demand.
Asia Pacific space launch services market is driven by governments are spending on satellite technology and exploration program. Countries such as China & India strengthening their military and defense system will boost the industry revenue during forecast time frame. In 2016, China premiered 2 new rockets supporting its future line of orbital satellite carriers. China’s long march series of rocket accounted for quarter of orbital launches in 2016. High investment and continuous technology development in region drive the industry demand in Asia Pacific.
Space launch services market participants include Antrix Corporation, Arianespace, China Aerospace Science and Technology Corporation, Eurockot Launch Services, ILS, ISC Kosmotras, Mitsubishi Heavy Industries, Orbital, ATK, SpaceX, Starsem, ULA. High investment from private sector supported by long term government development programs will boost industry revenue. Increasing interest from private sector will increase the industry competition during the forecast period.
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Based on payload, space launch services market is categorized in to satellite, human spacecraft, testing probes, cargo and stratollite. Satellite segment will observe high growth rate owing to increasing need for earth monitoring to obtain accurate & relevant information for mineral exploration, mapping, resource management and land use planning.
Based on orbit, low earth orbit (LEO) segment is expected to dominate the total space launch services market due to increasing spaceflights for cargo delivery to international space stations. Other segments include medium earth orbit (MEO), higher altitude orbits (HEO), geostationary earth orbit (GEO) and beyond GEO. Increasing demand for higher capacity vehicles will support the GEO segment growth.
Technological advancements in planetary and interplanetary satellite carrier will improve the service quality thereby supporting industry growth. For instance, SpaceX developing ITS and Falcon Heavy launch vehicles, United launch alliance (ULA) in partnership with Blue Origin is developing BE-4 LOX/methane engine for first stage booster rocket.
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