Space Launch Services Market Trends, Growth | Industry Analysis & Forecast, 2017 - 2024: Global Market Insights Inc.

Space Launch Services Market in APAC is driven by governments are spending on satellite technology and exploration program. Countries such as China & India strengthening their military and defense system will boost the industry revenue during forecast time frame. In 2016, China premiered 2 new rockets supporting its future line of orbital satellite carriers.

Increasing importance of satellites for planetary science, space exploration, geo information, telecommunication and socio-economic development encourage the investment is satellite technology across the globe. Developing nation’s increasing interest in interplanetary technology fuels the space launch services market.

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Substantial government capital investment in space technology supports the industry growth. Some of the major investments include more than USD 3 billion for European Space Agency (ESA) launch vehicle Ariane 6 by industrial and government sources. The product is expected to be launched by 2020. In January 2015, Fidelity investments & Google invested USD 1 billion in SpaceX.

Technological advancements in planetary and interplanetary satellite carrier will improve the service quality thereby supporting industry growth. For instance, SpaceX developing ITS and Falcon Heavy launch vehicles, United launch alliance (ULA) in partnership with Blue Origin is developing BE-4 LOX/methane engine for first stage booster rocket. New technology vehicles are expected to increase the success rate and accuracy of space launch services market.

Complying with regulatory norms and limited intellectual resources pose challenge for industry growth. Space launch services market requires highly qualified and well-trained resources for high success rate. Service providers lacking skilled human resource may hamper the industry growth.

Based on service type, industry is classified as pre-launch and post launch services. Pre-launch service holds major share and will continue its dominance owing to increasing service providers and reduction in price of integration & services.

Based on payload, space launch services market is categorized in to satellite, human spacecraft, testing probes, cargo and stratollite. Satellite segment will observe high growth rate owing to increasing need for earth monitoring to obtain accurate & relevant information for mineral exploration, mapping, resource management and land use planning.

By end user segment, it is divided into commercial and government & military. Government & military segment growth is attributed to increasing investment in orbital probe missions by military and facilitating better educational, surveillance, information collection and precision navigation by government sector.

North America is expected to witness significant growth during the forecast timeframe owing to strong presence of manufacturers in the region focusing on the business expansion. Moreover, presence of end-user industries dealing in aerospace and defense such as Boeing will further support the Space Launcher market demand.

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Space launch services market participants include Antrix Corporation, Arianespace, China Aerospace Science and Technology Corporation, Eurockot Launch Services, ILS, ISC Kosmotras, Mitsubishi Heavy Industries, Orbital, ATK, SpaceX, Starsem, ULA. High investment from private sector supported by long term government development programs will boost industry revenue. Increasing interest from private sector will increase the industry competition during the forecast period.

Space Launch Services Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, France, Spain, Italy, Russia, Poland, China, India, Japan, Australia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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