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Space Launch Services Market Size, Trends Analysis And Overview By 2024-2033
Space Launch Services Market Size
As per the report, 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 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%.
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Surge In Satellite Launches Fuels Growth In The Space Launch Services Market
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.
Spinlaunch Unveils Innovative Orbital Launch System Powered By Kinetic Energy Technology
Technological advancement is the key trend that is gaining popularity in the space launch services market. Major companies are focused on product innovations based on new technologies that could provide better solutions and strengthen their position in the market. For instance, in October 2021, SpinLaunch, a US-based company operating in spaceflight technology development, introduced its Orbital Launch System (OLS), which uses kinetic energy, an energy that a body has because of its mass and speed, known as kinetic energy, to launch a payload into low earth orbit, also known as the suborbital accelerator technology demonstrator. The suborbital accelerator technology uses electric power to spin a small payload that consists of a centrifuge in a vacuum chamber into a chamber with no air resistance or heating of the payload. This enables it to pick up high speeds to propel payloads into the stratosphere by using kinetic energy as compared to traditionally used chemical propulsion.
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
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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
Contents of the report:
1. Executive Summary
2. Space Launch Services Market Report Structure
3. Space Launch Services Market Trends And Strategies
4. Space Launch Services Market - Macro Economic Scenario
5. Space Launch Services Market Size And Growth
…..
27. Space Launch Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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