Space Launch Vehicle Services Market is Forecasted to Reach US$18 Billion in 2030, Says Stratview Research

The global Space Launch Vehicle Services Market is projected to witness a growth rate of 10.6% annually from 2024 to 2030, with an anticipated size of US$18 billion by 2030, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global Space Launch Vehicle Services Market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights
Market Size in 2030- USD18 billion
Growth (CAGR)- 10.6% during 2024-2030
Cumulative Sales Opportunity during 2025-2030- USD85.58 billion
Forecast Period- 2024-2030
Trend Period- 2018-2022
Base Year- 2023
Number of Segments Covered- 8
Number of Tables & Graphs- 100+
Country-Level Market Assessment- 20

Segment Insights on the Space Launch Vehicle Services Market:

The global space launch vehicle services market is segmented based on payload type, orbit type, service type, lift type, launch vehicle type, end-use type, end-user type, and region.

Based on payload type -

Based on the payload type, the market is segmented into satellites, space probes, cargo spacecraft, and human spacecraft. Among these payload types, satellites are expected to maintain their dominance in the market during the forecast period owing to the increasing demand for Earth observation, navigation, communication, and scientific research satellites. The increase in satellite constellations for global connectivity, the expanding scope of commercial space activities, and ongoing developments in miniaturized satellite designs contribute to the sustained dominance of satellites as the preferred payload, reflecting their indispensable role in modern space endeavors.

Based on orbit type -

Based on the orbit type, the market is segmented into LEO, MEO, GEO, and beyond GEO. Among these orbit types, LEO is expected to be the dominant segment of the market over the next six years. LEO offers a strategic advantage, i.e. proximity to Earth, which enables lower launch costs and reduced travel time for satellites.

Based on service type -

Based on the service type, the market is segmented into pre-launch service and post-launch service. Between these service types, the pre-launch service is anticipated to remain the dominant segment of the market in the years to come, as mission planning, payload integration, system testing and simulations, quality control, and regulatory compliance are indispensable elements that contribute to the seamless execution of space launches. Therefore, as the complexity and diversity of space missions increase, the demand for comprehensive pre-launch services is likely to rise proportionally.

Based on lift type -

Based on the lift type, the market is segmented into small-lift launch vehicles and medium to heavy-lift launch vehicles. Between these launch vehicles, the medium to heavy-lift launch vehicle is anticipated to maintain its dominance in the market in the coming years, as these vehicles have high payload capacities, making them suitable for a wide range of applications, including large communication satellites, space station modules, and interplanetary missions.

Based on launch vehicle type -

Based on the launch vehicle type, the market is segmented into reusable launch vehicles and single-use launch vehicles. Between these launch types, the reusable launch vehicle is anticipated to be the biggest demand generator in the market during the forecast period, as these launch vehicles are designed to be recovered and reused for multiple missions, as opposed to traditional expendable launch vehicles that are used once and then discarded. The development of reusable space launch vehicles is aimed at reducing the cost of space access by minimizing the need to manufacture new components for each launch.

Based on end-use type -

Based on the end-use type, the market is segmented into commercial and non-commercial. Between these purpose types, the commercial purpose is anticipated to continue as the major demand generator in the market in the upcoming years, owing to the increasing involvement of private companies in space-related activities, ranging from satellite deployment for communication and Earth observation to the emergence of commercial space tourism.

Based on end-user type -

Based on the end-user type, the market is segmented into private and government. Between these end-user types, the Government is expected to remain the dominant category of the market during the forecast period, owing to the government's sustained interest and investments in space exploration, national security, and scientific research.

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is expected to remain the largest market for space launch vehicle services during the forecast period. This growth outlook is majorly attributed to the following:

• The region is home to NASA along with several leading private aerospace companies (such as Rocket Lab, Inc. and Northrop Grumman Corporation) that are driving innovation and advancements in space technologies.
• The USA, in particular, has a well-established space industry with a robust infrastructure for space launches.
Likewise, Asia-Pacific is anticipated to be the fastest-growing region in the market in the years to come, since the region has witnessed a substantial surge in space activities, driven by the growth of ambitious space programs. Countries, such as China and India, have made significant investments in their space capabilities, increasing the demand for space launch vehicle services in the region.

Space Launch Vehicle Services Market Drivers:

Some of the key drivers listed in the report are given below.
• The advent of private space companies and the increasing commercialization of space activities are playing a pivotal role in propelling the market demand.
• As the emerging markets in space-related industries, such as space tourism, lunar exploration, and asteroid mining, continue to gain traction, they add another layer to the demand for space launch vehicle services.
• Some launch providers, such as SpaceX, with its Falcon 9 and Falcon Heavy rockets, have introduced reusable rocket technology, which significantly reduced the cost of launching payloads into space. This is likely to give an impetus to the demand for the space launch vehicles services market.

Top Companies in the Space Launch Vehicle Services Market:

The market for space launch vehicle services is very competitive and highly consolidated, with the leading companies capturing the lion's market share. Apart from technological expertise and financial capabilities, the growth of companies is directly dependent on government support and overall industry conditions. Stratview Research has identified the following companies as the top market players:

• Arianespace SA
• ASTRA
• China Aerospace Science and Technology Corporation
• Firefly Aerospace
• Japan Aerospace Exploration Agency
• Northrop Grumman Corporation
• Rocket Lab, Inc.
• S.P. Korolev Rocket and Space Corporation Energia
• SpaceX
• United Launch Alliance, LLC

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