Space Logistics Market Size | Industry Thriving Worldwide at a Significant Growth | Forecast to 2040

The global space logistics market size garnered $4.0 billion in 2030 and is estimated to generate $19.8 billion by 2040, manifesting a CAGR of 17.3% from 2030 to 2040.

The report provides an extensive analysis of changing market dynamics, major segments, value chains, competitive scenarios, and regional landscapes. This research offers valuable guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

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Cargo spacecrafts are employed by the nation for a variety of different functions, including the provision of propellants and fuel, crew provisioning and operations, maintenance and upkeep, stowage and restraint, waste and disposal, habitation and infrastructure, transportation and carriers, and many others. Commercial cargo transport systems profit greatly from supply trips to space stations such as the International Space Station (ISS) and Tiangong Space Station. In 2012, SpaceEx dispatched a robotic capsule, a Dragon cargo spacecraft derivative, with 400 kg of supplies for NASA's International Space Station (ISS) crew members, including food, clothing, experiments, and spare parts. It brought back the ISS medical samples and broken equipment. It was the first of 12 missions the business was contracted to carry out for NASA. The same SpaceX Dragon cargo ship delivered more than 4,300 pounds of food, experiments, and spare components to the research lab in March 2020 as it prepared to be captured by the robotic arm of the space station. Future Dragon's primary goal is to provide and use a new spacecraft that can instantly connect to the international space station.

Furthermore, the federal government's initiatives and strong support in the form of grants to businesses and academic institutions to develop cutting-edge satellite and imaging technology are also anticipated to have a positive impact on the expansion of the space logistics sector in the U.S. For instance, in April 2020, the U.S. Department of Education announced a competition for high school students to design a space mission. CTE Mission: The U.S. Department of Education developed CubeSat as a national competition to encourage students to develop technical skills for employment in space. Such efforts by the U.S. government agencies are anticipated to stimulate the country's space logistics business.

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The development of sophisticated satellites in Canada is motivated by the surge in demand for Earth observation (EO) data as well as the Canadian Space Agency's (CSA) funding company smartEarth, which assists Canadian businesses in developing and implementing EO data-based applications. For instance, Kepler Communications, a leader in Canadian satellite telecommunications, declared that production would begin in Toronto at its recently built satellite manufacturing facility in January 2020. It's a significant step toward the company's objective of launching a fleet of 140 tiny satellites to offer high-capacity global connection services to the transportation, government, agricultural, research, and maritime sectors. The expansion of the satellite manufacturing sector in Canada has been attributed to the commercial space industry's increased focus on developing sophisticated satellites for a variety of uses. These growing applications of satellites and an increasing number of satellites across Canada are expected to drive the growth of the market during the forecast period.

The research provides detailed segmentation of the global space logistics market based on operation, payloads, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.

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Based on region, North America held the largest share in 2021, contributing to nearly half of the global space logistics market share, and is projected to maintain its dominant share in terms of revenue in 2040. However, the Asia-Pacific region is expected to manifest the fastest CAGR of 20.1% during the forecast period.

Leading market players of the global space logistics market analyzed in the research include ArianeGroup, ATOMOS SPACE, Deutsche Post DHL Group, D-Orbit SpA, EXOLAUNCH GmbH, Exotrail, Impulse Space, Inc., Launcher Inc., Momentus Space, Northrop Grumman, Space Machines Company Pty Ltd., and Yusen Logistics Co., Ltd.

The report provides a detailed analysis of these key players in the global space logistics industry. These players have adopted different strategies such as agreements, partnerships, expansion, product development, and others 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.

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