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Space Launch Services Market Is Projected To Reach USD 44,243.66 Million, Exhibiting A CAGR Of 13.43% By, This Growth Is Anticipated To Propel The Market Into The Stratosphere
Space Launch Services
According to MRFR analysis, the space launch services market is expected to register a CAGR of~13.43% from 2022 to 2030 and hold a value of over USD 44,243.66 Million by 2030.
The space launch services market refers to the commercial sector that provides launch vehicles, platforms, and related services to launch satellites, spacecraft, and other payloads into space. This market includes private companies that compete with government space agencies to offer launch services for a range of customers, including national governments, private corporations, and academic institutions.
The space launch services market has been growing rapidly in recent years, driven by increasing demand for satellite-based communication, navigation, remote sensing, and other applications.
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The COVID-19 pandemic had some impact that one of the main impacts of the pandemic has been on the workforce involved in space launch operations. Some launch providers have had to temporarily suspend operations or delay launches due to COVID-19 outbreaks among their staff. Social distancing requirements and travel restrictions have also made it more difficult for launch teams to travel to launch sites and work together on missions.
Regional Analysis-
The largest region of the space launch services market is North America, which includes the United States and Canada. This region has historically been a leader in space exploration and has a well-established space industry with a diverse range of launch providers, including government agencies, such as NASA, and private companies like SpaceX, Blue Origin, and United Launch Alliance.
The United States has the largest share of the global space launch services market, due to its dominant position in the industry and its long-standing investment in space exploration and technology.
North America also has a large and growing commercial space industry, with private companies investing heavily in new launch technologies, such as reusable rockets, and offering launch services to a wide range of customers.
Market Segmentation-
The space launch services market has been segmented into services and end-uses.
Based on the services, the market has been segmented into pre-launch and post launch services.
Based on the end-uses, the market has been segmented into commercial, military and government.
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Key Companies in the Space Launch Services Market include -
Antrix Corporation Limited (India)
International Launch Services Inc. (US)
Arianespace (France)
Mitsubishi Heavy Industries (Japan)
Eurockot Launch Services (Germany)
ISC Kosmotras (Russia)
China Great Wall Industry Corporation (China)
Orbital ATK (US), SpaceX (US)
US Spaceflight Industries, Inc. (US)
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Space Launch Services Industry Developments -
July 2020
China Great Wall Industry Corporation dispatched CAPSTAR-6D Communications Satellite by utilizing an LM-3B dispatch vehicle.
Jul. 07, 2023
Voyager Space, a leading global space exploration company, announced that it has signed an MoU with NewSpace India Limited (NSIL), the commercial arm of the Indian Space Research Organization (ISRO), to boost collaboration in spacecraft launch and deployment opportunities. Under this MOU, Voyager Space and NSIL will explore opportunities for launch and deployment of small satellites orbited by Small Satellite Launch Vehicle (SSLV) and Polar Satellite Launch Vehicle (PSLV).
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