Press release
Carrier Rocket Market Is Projected To Move Ahead at a CAGR of 11.9% by 2030
Drivers, restraints, and opportunities
Rise in demand for small satellites for earth observation services and surge in number of space expeditions drive the growth of the global carrier rocket market. However, high costs regarding the development and complexities associated with periodic maintenance of rockets hinder the market growth. On the other hand, increase in demand for reusable rockets and development of hybrid rocket fuel present new opportunities in the coming years.
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The satellite segment to maintain its leadership status during the forecast period
Based on payload type, the satellite segment contributed to the largest share in 2020, accounting for around three-fourths of the global carrier rocket market, and is projected to maintain its leadership status during the forecast period. Moreover, this segment is estimated to witness the largest CAGR of 11.8% from 2021 to 2030. This is due to rise in adoption of advanced satellites by telecommunication organizations to implementing high-speed internet services worldwide. The report also discusses segments including cargo and others.
The government segment to continue its lead position during the forecast period
Based on end user, the government segment accounted for the highest share in 2020, holding more than around three-fifths of the global carrier rocket market, and is estimated to continue its lead position during the forecast period. This is due to increase in deployment for defense and monitoring services by government organizations. However, the commercial segment is expected to portray the highest CAGR of 12.4% from 2021 to 2030. This is attributed to surge in initiatives undertaken by commercial space organizations for deploying advanced space payloads and conducting space exploration missions.
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North America to maintain its dominance in terms of revenue by 2030
Based on region, North America held the largest market share in 2020, contributing to more than one-third of the global carrier rocket market, and is expected to maintain its dominance in terms of revenue by 2030. This is due to the presence of leading rocket manufacturers in the region. However, Asia-Pacific is expected to witness the largest CAGR of 12.0% during the forecast period, owing to the booming space industry in the region.
Leading market players
Antrix Corporation Limited
Arianespace
Cubecab
IHI Corporation
Israel Aerospace Industries Ltd.
Lockheed Martin Corporation
Northrop Grumman Corporation
Mitsubishi Heavy Industries, Ltd.
Rocket Lab USA
SpaceX
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Key Findings Of The Study
By payload type, the satellite segment is expected to register a significant growth during the forecast period.
By payload carrying capacity, the above 8 tons segment is anticipated to exhibit significant growth in the near future.
By range, the LEO segment is anticipated to exhibit significant growth in the near future
By end user, the commercial segment is anticipated to exhibit significant growth in the near future
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
Know More- https://www.prnewswire.com/news-releases/carrier-rocket-market-to-reach-25-42-billion-globally-by-2030-at-11-9-cagr-allied-market-research-301355698.html
Similar Reports We Have on Aerospace and Defense Industry:
Aircraft Lighting Market https://www.alliedmarketresearch.com/aircraft-lighting-market-A06273
Aircraft Cabin Lighting Market https://www.alliedmarketresearch.com/aircraft-cabin-lighting-market
Aircraft Window Frame Market https://www.alliedmarketresearch.com/aircraft-window-frame-market-A31492
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