Press release
Space Launch Services Market Size by Global Major Companies Profile, and Key Regions 2027
Space Launch Services Market
Space launch services are a series of activities associated with space satellites that include seamless integration of all components and services to ensure a smooth launch phase. The massive investments in these programs are consequential to the rising space research activities across the world. The increasing use of technologically advanced concepts in these programs have been hugely beneficial not just for the large scale companies, but also for startups looking to fit-in in an otherwise competitive space. The rising government budget allocations for space programs will create a massive growth platform for the companies operating in the market. The integration of concepts such as artificial intelligence and 3D modelling for satellite designs will aid the growth of the market in the coming years.
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Increasing Number of Company Collaborations will Emerge in Favor of Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Accounting to the increasing space research activities across the world, there has been an increase in the demand for space launch services in the past few years. The increasing demand for these services has resulted in a strong market competition. It is observed that large scale companies are looking to collaborate with other businesses with the aim of acquiring a wider consumer base. In August 2020, Ariane Group SAS announced that it has signed a contract with Northop Grumman and Maxar Technologies for the launch of a new space satellite. The companies will work on launching Flight VA253 through the Ariane 5 launcher. Increasing number of such company collaborations will have a huge impact on the growth of the overall market in the forthcoming years.
Asia Pacific to Emerge Dominant; Increasing Space Research Activities will Contribute to Market Growth
The report analyzes the ongoing market trends across North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America. Among all regions, the market in Asia Pacific is projected to emerge dominant in the coming years. The increasing space research programs and rising number of space satellites that have been launched by companies based in this region will have a direct impact on the growth of the regional market. The presence of several large scale companies in this sector will have a huge impact on the growth of the regional market. The market in North America will also derive growth from the presence of numerous large scale space organizations, especially in the United States. As of 2019, the market in North America was worth USD 4.88 billion and this value is projected to rise at a considerable
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List of the Key Companies Profiled:
• Antrix Corporation Limited (India)
• ArianeGroup SAS (France)
• Lockheed Martin Corporation (The U.S.)
• China Great Wall Industry Corporation (China)
• United Launch Alliance (ULA) (The U.S.)
• Space International Services (The U.S.)
• Space Exploration Technologies Corp. (Space X) (The U.S.)
• Mitsubishi Heavy Industries, LTD. (Japan)
• Northrop Grumman Systems Corporation (The U.S.)
• Eurockot Launch Service Provider (Germany)
• Blue Origin Enterprises, L.P. (The U.S.)
• Spaceflight Industries (The U.S.)
Industry Developments:
July 2020, China Great Wall Industry Corporation announced the launch of APSTAR-6D Communications Satellite by using LM-3B launch vehicle. APSTAR-6D is the 12th communications satellite to be in-orbit delivered by China Great Wall Industry Corporation (CGWIC).
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