Space Launch Services Market Forecast 2022-2027: Industry Size, Share, Trends and Growth

The latest research study "Space Launch Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the global space launch services market size reached US$ 11.32 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 26.62 Billion by 2027 exhibiting a growth rate (CAGR) of 14.50% during 2022-2027.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Industry Definition and Application:

Space launch, or lift-off, represents the earliest part of the operations, where the rocket or other vehicles, including floating ships and airborne aircraft, are vertically released from the ground. This process is categorized into pre-launch and post-launch. Space launch services involve various activities, such as conversing, stacking, ordering, assembling, and integrating payload for takeoff, which in turn, assist in decreasing the set-in motion cost. As a result, this process finds widespread applications in space organizations, the government, and military agencies for performing galaxy explorations.

Space Launch Services Market Trends and Drivers:

The introduction of miniaturization in electronic systems to improve small satellites capabilities by reducing the size of several integrated electronics and hardware is primarily driving the space launch services market. Besides this, the escalating need for this process across the commercial, government, military, and defense industries, on account of the increasing number of aircraft and satellite testing during takeoffs, is further augmenting the market growth.

Moreover, the shifting preference of space launch service providers toward smaller satellites over the traditional ones for enabling their development in a shorter time frame at lower costs is also catalyzing the global market. Apart from this, the rising utilization of the commercial-off-the-shelf (COTS) approach by space companies for collecting distributed data and experimentation purposes is acting as another significant growth-inducing factor.

Furthermore, the growing popularity of low earth orbit (LEO)-based processes, including imagery-based intelligence, is anticipated to propel the space launch services market over the forecasted period.

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Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Payload:
• Satellite
o Small Satellite (Less Than 1000 Kg)
o Large Satellite (Above 1000 Kg)
• Human Spacecraft
• Cargo
• Testing Probes
• Stratollite

Breakup by Launch Platform:
• Land
• Air
• Sea

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

Breakup by Orbit:
• Low Earth Orbit (LEO)
• Medium Earth Orbit (MEO)
• Geosynchronous Orbit
• Polar Orbit

Breakup by Launch Vehicle:
• Small Launch Vehicle
• Heavy Launch Vehicle

Breakup by End User:
• Government and Military
• Commercial

By Geography:
• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa

List of Major Key Players:

The major players in the market are
• Airbus SE
• Antrix Corporation Limited
• Arianespace SA
• China Great Wall Industry Corporation (China Aerospace Science and Technology Corporation)
• Mitsubishi Heavy Industries Ltd.
• Northrop Grumman Corporation
• S7 Airlines
• Safran S.A.
• Space Exploration Technologies Corp.
• The Boeing Company.

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