Increasing Expenditure On The Space Sector Propels Market Growth Due To Advancements And Expanding Commercial Interests: A Key Driver Powering Spacecraft Market Growth In 2025

We've updated all our reports with current data on tariff changes, trade developments, and supply chain shifts affecting key industries.

What Is the Current Spacecraft Market Size and Its Estimated Growth Rate?
Recent years have seen a significant expansion in the spacecraft market size. Expectations predict a rise from $6.40 billion in 2024 to $6.81 billion in 2025, recording a compound annual growth rate (CAGR) of 6.4%. The historical growth factor can be associated with the steady advancements in space exploration technology, government-run space programs, the impact of the cold war space race, the constant demand for satellite communication, commercial space fundraisers, military usages, and cooperative international space missions.A significant increase is anticipated in the spacecraft market size over the coming years, with expectations to reach $8.64 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.1%. This surge during the prediction period is attributed to several factors such as the emergence of private companies in the space sector, increased demand for services based on satellite internet, new developments in reusable rocket technology, expansion in the realm of space tourism, increased missions for the exploration of planets, monitoring of the climate from space, and capital input in space-related defense systems. Notable trends projected for the period include advancements in the field of small satellite technology (CubeSats) for communication and earth surveillance, the engineered development of reusable spacecraft to cut costs, enhanced focus on deep space exploration, proliferation of partnerships, and increased investments in space infrastructure for the defense and security sectors.

Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=21590

How Are Emerging Segments Shaping the Spacecraft Market Landscape?
The spacecraft market covered in this report is segmented -

1) By Type: Manned Spacecraft, Unmanned Spacecraft
2) By Component: Power Systems, Thermal Control Systems, Propulsion Systems, Payloads, Communication Systems, Guidance And Navigation Systems
3) By End User: Military, Commercial, Defense

Subsegments:
1) By Manned Spacecraft: Space Capsules, Spaceplanes, Space Stations
2) By Unmanned Spacecraft: Satellites, Probes, Landers, Rovers, Cargo Spacecraft

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=21590&type=smp

Which Growth Factors Are Influencing Spacecraft Market Expansion?
The growth of the spacecraft market is predicted to be spurred on by the rising spendings in the space sector. This sector covers everything from the creation and discovery to the business element of space, inclusive of satellite services, launch systems, and space exploration. The inflation of costs in this sector is largely due to technological advancements, burgeoning commercial interests, concerns for national safety, and the prospect of considerable economic returns from activities based in space. Spacecraft are instrumental in the escalating expenditures of the space sector, owing to the expensive nature of research, development, and manufacturing as well as the surging need for space exploration and satellite placement. For example, The Space Foundation, a nonprofit organization located in the US, reported in July 2023 that the space economy had hit $570 billion, signifying a 7.4% growth from the amended 2022 total of $531 billion. Therefore, the mounting costs in the space sector are fueling the expansion of the spacecraft market.

Who Are the Dominant Players Across Different Spacecraft Market Segments?
Major companies operating in the spacecraft market are Boeing Defense, Space & Security, Airbus SE, RTX Corporation, Lockheed Martin Space Systems Company, Northrop Grumman Corporation, Mitsubishi Heavy Industries Ltd., Space Exploration Technologies Corporation, Israel Aerospace Industries Ltd., Thales Alenia Space S.A.S., Maxar Technologies Inc., Blue Origin LLC, RUAG Space AB, Sierra Nevada Corporation, OHB SE, Rocket Lab USA Inc., Planet Labs PBC, Firefly Aerospace Inc., Astroscale Holdings Inc., Korea Aerospace Research Institute, Indian Space Research Organisation, NanoAvionics LLC, Virgin Galactic Holdings Inc., Ball Aerospace & Technologies Corp.

What Are the Latest Developing Trends in the Spacecraft Market?
Leading corporations in the spacecraft market are concentrating on the evolution of cutting-edge technologies like advanced solar sail technology. The motive is to boost propulsion efficiency, curtail fuel use, and facilitate enduring space missions. Solar sail technology revolves around a spacecraft propulsion technique that employs large, reflective sails to trap and utilize sunlight (photons) pressure to create thrust. For example, the US-based government agency, National Aeronautics and Space Administration, initiated the launch of solar-powered spacecraft, which leverages solar energy for powering its space systems and actions in April 2024. This spacecraft is fortified with high-efficiency solar panels, adept at producing power even under the low-light circumstances of profound space. Its featherweight construction, together with state-of-the-art electric propulsion systems, enables it to voyage further and more efficiently than conventional chemical-powered spacecraft.

Get the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/spacecraft-global-market-report

Which Geographic Regions Are Expected to Dominate the Spacecraft Market in the Coming Years?
North America was the largest region in the spacecraft market in 2024. The regions covered in the spacecraft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Spacecraft Market?
2. What is the CAGR expected in the Spacecraft Market?
3. What Are the Key Innovations Transforming the Spacecraft Industry?
4. Which Region Is Leading the Spacecraft Market?

Why This Report Matters:

Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.

Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.

Efficient Research: Quickly identify market growth, leading players, and major segments.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.