Press release
Space Launch Services Global Market Size, Share Report, Growth, Analysis, Key Players, Revenue, Future Trends, Forecast 2033 | The Business Research Company
Space Launch Services Global Market
The Business Research Company presents an extensive market research report on the Space Launch Services Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The space launch services market size has grown rapidly in recent years. It will grow from $15.23 billion in 2023 to $17.5 billion in 2024 at a compound annual growth rate (CAGR) of 14.9%. The growth in the historic period can be attributed to satellite deployment demands, global telecommunications expansion, national security and defense, commercial space industry growth, space tourism development, market competition and cost reduction..
The space launch services market size is expected to see rapid growth in the next few years. It will grow to $29.66 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%. The growth in the forecast period can be attributed to mars exploration and beyond, lunar exploration initiatives, reusable launch vehicle adoption, global climate monitoring, national space policies and investments, space resource exploration.. Major trends in the forecast period include growing commercial space activities, increase in small satellite launches, diversification of launch vehicles, integration of advanced technologies, rapid launch and on-demand services, public-private partnerships..
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Key Market Players:
Major companies operating in the space launch services market report are Antrix Corporation Limited, Airbus SE, Arianespace SA, Blue Origin LLC, China Aerospace Science and Technology Corporation, China Great Wall Industry Corporation, Eurockot Launch Services GmbH, International Launch Services Inc., International Space Company Kosmotras, Lockheed Martin Corporation, Mitsubishi Heavy Industries Limited, Northrop Grumman Innovation Systems Inc., Rocket Lab USA Inc., Safran SA, Space Exploration Technologies Corporation, Space International Services Inc., Spaceflight Industries Inc., Starsem SA, The Boeing Company, United Launch Services LLC, Firefly Aerospace Inc., Gilmour Space Technologies Pty Ltd., iSpace Inc., Indian Space Research Organisation, Landspace Corp. Ltd., OneSpace Inc., Payload Aerospace S.L., Relativity Space, Roscosmos State Corporation, Sierra Nevada Corporation, Vector Space Systems Inc., Virgin Galactic Holdings Inc., Virgin Orbit LLC
Market Drivers:
The increase in satellite launches across the globe is expected to propel the growth of the space launch services market going forward. Satellite launch refers to the transportation of spacecraft from earth's surface to earth's atmosphere or into orbits around the earth by using a carrier rocket that can carry a payload of spacecraft. The space launch service is used to improve the capabilities of satellites launched in earth orbits to carry out successful space missions by providing pre-launch and post-launch services such as management services, integration, and logistics, tracking data, telemetry support, cargo services, and others. For instance, according to the Index of Objects Launched into Outer Space, maintained by the United Nations Office for Outer Space Affairs (UNOOSA), there are 8261 individual satellites orbiting the Earth, an increase of 11.84% compared to April 2021. Therefore, the increase in satellite launches across the globe is driving the growth of the space launch services market.
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https://www.thebusinessresearchcompany.com/report/space-launch-services-global-market-report
The space launch services market covered in this report is segmented -
1) By Service Type: Pre-Launch Services, Post-Launch Services
2) By Orbit: Low Earth Orbit, Medium Earth Orbit, Geosynchronous Orbit, Beyond Geosynchronous Orbit
3) By Payload: Satellite, Human Spacecraft, Cargo, Testing Probes, Stratollite
4) By Launch Platform: Land, Air, Sea
5) By End Use: Commercial, Military And Government
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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