Space Launch Services Market Size Status and Forecast 2022

The increasing adoption of space launch services for satellites and testing probe application is one of the most significant factors driving the growth of the market. Furthermore, the introduction of space tourism is expected to provide lucrative growth opportunities to space launch service providers in the near future.

The objective of this study is to define, describe, segment, and forecast the space launch services market, and map the segments as well as subsegments across major regions, namely, North America, Europe, Asia Pacific, and Rest of the World (RoW). Based on service type, the market has been segmented into pre-launch and post-launch services. Based on payload, the market has been segmented into satellite, human spacecraft, cargo, testing probes, and stratollite. Based on orbit, the market has been segmented into LEO, MEO, GEO, and beyond GEO. Based on launch platform, the market has been segmented into land, air, and sea. Based on launch vehicle size, the market is segmented into small lift launch vehicles (350,000kg). Based on end user, the market has been segmented into commercial and military & government.

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The report provides an in-depth market intelligence regarding major factors, such as drivers, restraints, opportunities, and industry-specific challenges influencing the growth of the market, along with analyzing micromarkets with respect to individual growth trends, future prospects, and their contribution to the space launch services market.

The report also covers competitive developments such as long-term contracts, joint ventures, mergers & acquisitions, new product launches and developments, and research & development activities in the space launch services market, in addition to business and corporate strategies adopted by key market players.

Based on payload, the satellite segment of the space launch services market is projected to grow at the highest CAGR during the forecast period. The increasing demand for Earth observation and communication satellites is projected to drive the growth of the satellite segment. These satellites are intended for monitoring of the Earth’s surface to obtain valuable information for mapping, mineral exploration, land-use planning, and resource management, among other activities.

Based on orbit, the LEO segment is expected to lead the space launch services market from 2017 to 2025. Most space-related missions are targeted at Low Earth Orbit (LEO). The deployment of small satellites in space and increase in the number of spaceflights to deliver cargo to the International Space Station (ISS) are key factors contributing to the growth of the LEO segment of the services market.

Based on launch platform, the land segment is projected to lead the space launch services market during the forecast period, owing to an increase in the number of satellite launches from ground-based sites. The land platform is cost-effective and technologically upgraded as compared to other platforms.

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