Space Suit Market To Increase at Steady Growth Rate 2017 - 2025

The Space Suit helps in directing the flight path by transmitting its thrust vector to provide directional control. Based on technology, the market is segmented into flex nozzle, gimbal nozzle, rotating nozzle, thrusters and others. In 2016, among various technology, flex nozzle segment is expected to dominate the market for Space Suit market followed by rotating nozzle and anticipated to be the same in the near future. Increased use in the flex nozzles in missiles and satellite launchers is one of the major factor fueling the market for the Space Suit market for the coming years.

Based on application, the market is segmented into satellites, missiles, launch vehicles and fighter aircraft. Among various application, in 2016, fighter aircraft is expected to dominate the market for Space Suit followed by satellites and anticipated to be the same during the forecast period of 2017 – 2025. The rise in acquisition of fight aircraft in developing countries such as India and China among others is one of the major factor boosting the demand of fighter aircrafts segment in the market.

Based on system, the market is segmented into wide thrust vector injection system, thrust vector actuation system and thrust vector thruster system. In 2016, among various system, thrust vector actuation system is expected to be the largest market followed by wide thrust vector injection system. Increasing demand for thrust vector actuation system in defense sector is one of the major factor boosting the market for the Space Suit in the coming years.

Based on end user, the market is segmented into defense and space agencies. In 2016, defense is expected to dominate the market for the Space Suit followed by space agencies. Rise in demand for fighter aircraft to gain benefit over aerial opponents is one of the key factor boosting the demand for defense segment in Space Suit market during the forecast period.

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Increasing need for highly maneuverable fighter aircraft, rise in budget allocated for missile programs, growth in space research programs and growing use of satellites to provide information are some of the major factor boosting the market for the global Space Suit market. However, some of the major factor restraining the market for the Space Suit are high complexity in Space Suit technology among others.

The geographical split of the market includes North America, Asia-Pacific, Europe, Latin America and Middle East and Africa. In 2016, North America is anticipated to be the key market trailed by Europe. The U.S. is estimated to be the key market of the North America as well as globally. Increase in number of satellite launches and launch vehicles is one of the major factor boosting the market for the Space Suit market. Increasing spending on space exploration programs is another major factor boosting the market in North America region. Europe is expected to follow North America. The U.K. and Germany is expected to be the key market for the Space Suit market in Europe. Asia Pacific is expected to grow at a high CAGR for the forecast period of 2017 – 2025. China is expected to be the major market for the Space Suit in Asia Pacific. In addition, India is expected to grow at a high CAGR in Asia Pacific region. Factors such as increase in production of missiles and development programs and increased need for super-maneuverable fighter aircraft among others are the boosting the market for the Space Suit in India as well as Asia Pacific. However, increasing trend of reusing launch boosters and vehicles is acting as a restraining factor for the Space Suit market in Asia Pacific as well as globally. Middle East and Africa is expected to grow at a health rate for the forecast period. Saudi Arabia and UAE is expected to be the major market for the Space Suit in Middle East and Africa region.

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The major players in the market are Honeywell International, Inc. (United States), Moog, Inc. (United States), Woodward, Inc. (United States), Jansen Aircraft Systems Control, Inc. (United States), BAE Systems (United Kingdom), Wickman Spacecraft & Propulsion Company (United States), Parker Hannifin, Inc. (United States), Sierra Nevada Corporation (United States), Dynetics, Inc. (United States), and SABCA (Belgium).

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This release was published on openPR.