Global Spacecraft Market Poised to Hit $10.4 Billion by 2032 with a 5.9% CAGR

Allied Market Research published a report, titled, "Spacecraft Market by Type (Manned Spacecraft and Unmanned Spacecraft), and End Use (Commercial and Civil, and Military): Global Opportunity Analysis and Industry Forecast, 2022-2032". According to the report, the global spacecraft industry size generated $5.9 billion in 2022 and is anticipated to generate $10.4 billion by 2032, witnessing a CAGR of 5.9% from 2023 to 2032.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/A10721

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐛𝐲 𝟐𝟎𝟑𝟐

By region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the spacecraft market revenue. North America is one the largest regions for spacecraft manufacturing driven extensively by large-scale NASA and Department of Defense space programs in the U.S. The presence of key contractors such as SpaceX, Boeing, Lockheed Martin, Northrop Grumman, and emerging NewSpace startups focused on areas such as small satellites, space logistics, and infrastructure ensures steady projects. Canada also possesses niche expertise in robotic systems and satellite communications hardware.

Asia-Pacific is expected to witness the fastest CAGR of 6.9% from 2023 to 2032. The rapid economic rise has permitted major investments into space tech in Asia-Pacific. China has undertaken revolutionary rover, space station, and lunar exploration missions. Chinese commercial space also continues maturing via companies such as Galaxy Space. Meanwhile, ISRO's Mangalyaan Mars orbiter underscored India's credentials for undertaking complex deep space missions at affordable costs. With increasing collaboration and technical proficiency, growth in the region remains positive.

𝐑𝐞𝐜𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐒𝐩𝐚𝐜𝐞𝐜𝐫𝐚𝐟𝐭 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

➡️𝐈𝐧 𝐌𝐚𝐲 𝟐𝟎𝟐𝟐, the CST-100 Starliner spacecraft, part of NASA and Boeing's collaboration, concluded its uncrewed Orbital Flight Test-2 (OFT-2) by safely landing, marking a successful mission to verify its readiness for carrying astronauts to the International Space Station.

➡️𝐈𝐧 𝐍𝐨𝐯𝐞𝐦𝐛𝐞𝐫 𝟐𝟎𝟐𝟐, SpaceX launched a new cargo Dragon spacecraft to the space station, delivering 3,528 kilograms of cargo, including supplies for the station's crew, research experiments, and hardware.

➡️𝐈𝐧 𝐃𝐞𝐜𝐞𝐦𝐛𝐞𝐫 𝟐𝟎𝟐𝟑, Airbus successfully passed the Preliminary Design Review (PDR) of Ariel, the Atmospheric Remote-sensing Infrared Exoplanet Large-survey spacecraft. This European Space Agency (ESA) mission will study the composition of exoplanets by surveying a diverse sample of about 1000 extrasolar planets in visible and infrared wavelengths.

➡️𝐈𝐧 𝐌𝐚𝐲 𝟐𝟎𝟐𝟑, NASA selected Blue Origin as the Second Artemis Lunar Lander provider. Blue Origin will design, develop, test, and verify its Blue Moon lander to meet NASA's human landing system requirements for recurring astronaut expeditions to the lunar surface, including docking with Gateway, a space station where crew transfer in lunar orbit.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/spacecraft-market/purchase-options
-
𝐓𝐡𝐞 𝐮𝐧𝐦𝐚𝐧𝐧𝐞𝐝 𝐬𝐩𝐚𝐜𝐞𝐜𝐫𝐚𝐟𝐭 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on type, the unmanned spacecraft segment held the highest market share in 2022, accounting for more than half of the global spacecraft market revenue and is estimated to maintain its leadership status during the forecast period. Unmanned spacecraft, also known as robotic or autonomous spacecraft, are vehicles designed to operate in space without human presence on board. These spacecrafts serve various purposes, including scientific exploration, satellite deployment, and interplanetary missions.

The manned spacecraft segment is expected to register the highest CAGR of 7.1% from 2023 to 2032. Manned spacecraft, also known as crewed spacecraft, are vehicles designed to carry astronauts into space. These spacecrafts are equipped with life support systems, living quarters, and control systems to ensure the safety and well-being of the crew during space missions.

The commercial and civil segment to maintain its leadership status during the forecast period

Based on end use, the commercial and civil segment held the highest market share in 2022, accounting for more than three-fourths of the global spacecraft market revenue, and is estimated to maintain its leadership status during the forecast period. The segment is also projected to manifest the highest CAGR of 6.2% from 2023 to 2032. The commercial and civil spacecraft market is witnessing robust growth trends driven by satellites catering to applications such as broadband internet connectivity, IoT networks, real-time monitoring, and space tourism. Companies such as SpaceX, Planet Labs, and Rocket Lab, are deploying numerous small inexpensive satellites for global communications and observation services.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬: -

SpaceX
Northrop Grumman Corporation
Boeing Company
Airbus
Lockheed Martin Corporation
Sierra Nevada Corporation
Thales
Maxar Technologies
OHB SE
Blue Origin Enterprises, L.P.

The report provides a detailed analysis of these key players in the global spacecraft market. These players have adopted strategies such as new product launches and contracts to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠- https://www.alliedmarketresearch.com/purchase-enquiry/A10721

The market is governed by factors such as the increase in investment in space exploration missions by governments and private companies, surge in space exploration missions, and development of reusable spacecraft technology, which positively impact the market growth. However, factors such as high development and manufacturing costs, and complex regulatory environment hinder the market growth. On the contrary, the increase in spacecraft infrastructure development projects, and increase in adoption of 3D printing for rapid manufacturing are the factors expected to offer growth opportunities during the forecast period.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐀𝐞𝐫𝐨𝐬𝐩𝐚𝐜𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

https://www.alliedmarketresearch.com/satellite-market - Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/space-launch-services-market - Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/man-portable-rocket-launcher-market-A09623 - Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/rocket-launchpad-market-A10831 - Global Opportunity Analysis and Industry Forecast, 2023-2032

Contact:
David Correa
5933 NE Win Sivers Drive
205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube |

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.