Global Space Launch Services Market is valued at USD 11.48 Billion in 2018 and expected to reach USD 30.91 Billion by 2025 with the CAGR of 15.2% over the forecast period."
Increase in number of satellites and testing probes launches for communication and earth observation in the space as well as surge in government investments and private funds are some of the major factors driving the growth of Global Space Launch Services Market.
Key players for Global Space Launch Services Market Report–
Global Space Launch Services market reports cover prominent players like Antrix Corporation, AIRBUS S.A.S, The Boeing Company, Lockheed Martin Corp., Eurockot Launch Services, SpaceX, United Launch Alliance Arianespace, China Aerospace Science and Technology Corporation, Spaceflight Industries Starsem, Rocket Lab, Rocket Lab USA, S7 Space, NASA, International Launch Services, ISC Kosmotras, Mitsubishi Heavy Industries, Orbital ATK, VOX Space, Northrop Grumman Corp. and others.
Get Sample Copy of This Premium Report https://brandessenceresearch.com/requestSample/PostId/1096
Scope of the Global Space Launch Services Market Report:
Space launch services are responsible for launching uncrewed rockets, spacecrafts to the space for the observation of the earth, other planets and to explore the universe with the help of satellites to telescopes to Mars rovers and more other efficient technology. Space has also become more commercialized. The commercial space sector is rapidly increasingly engaged in communications, space launch, space situational awareness, remote sensing, and human spaceflight. Hence, increased number of objects in orbit that are both active satellites and orbital debris has made wider availability of with lower cost for small satellites and with the outlook of large constellation having thousands of satellites. As per the defense intelligence agency of United states in 2018, more than 1,800 active satellites has been sent to orbit, which are operated and owned from more than 50 countries and multinational organizations. There are many benefits of space launch services such as; it enables effective voice communications, television broadcasts, broadband internet, mobile services, and data transfer services for civil, military, and commercial users worldwide. In addition to this, the space launch services provide positioning, navigation, and timing (PNT) service to determine precise location and local time through satellite to enable civilian, commercial, and military users to determine the threat of new entrants into their territory.
Global Space Launch Services Market is segmented on the basis of payload capacity, launch platform, service type, launch vehicle, end-user, and region and country level. Based upon payload capacity, the global space launch services are divided into satellite, human spacecraft, cargo, testing probes, and stratollite. Based on satellite, the market is segmented into small (less than 1,000 kg) and large satellite (above 1,000 kg). Based on the launch platform, the global launch services market is categorized into land, air, and sea. Depending on service type, the market is classified as pre-launch and post launch services. On the basis of launch vehicle, it is divided into small (less than 300 tons) and heavy (more than 300 tons). On the basis of end-user, the global space launch services market is divided into government & military and commercial sectors.
The regions covered in global space launch services market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, Global space launch services sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Space Launch Services Market Dynamics–
The major driving factors for the growth of global space launch services market are increase in number of satellite and testing probes launches for effective communication and earth observation in the space as well as surge in government investments and private funds. According to satellite industry association in between 2014 to 2018, more than 850 satellites were launched representing growth rate by 243% over the last five years forecast period. Thus, the massive growth of satellites in earth orbit has reached upto 2100 satellites for taking the advantages of effective communications, remote sensing, and imaging, broadband connectivity, GPS & navigation as well as emergency response & disaster relief by various countries around the world.
However, high initial costs associated with the launch services, the lack of skilled workforce and huge investment to adapt new technologies as well as the interoperability issues may hamper the growth of space launch services market. In addition to this the corona virus pandemic has been adversely affected the space launch service industry. Due to this some of the major events related to launching of satellite services has been cancelled and postponed. The events include CABSAT, satellite 2020, SMi Small Satellites Conference sea air space, and many others have cancelled and rescheduled. For example, space tech expo and AIxSPACE events that were planned in California and Montreal have been rescheduled to July 2020 & November 2020 respectively. In spite of that, rising mergers and acquisitions related to satellite launching services as well as space tourism will create huge opportunity for the further growth of global space launching services market.
Global Space Launch Services Market Regional Analysis–
North America is expected to dominate the global space launch services market with the potential rate owing to the presence of major market players in this region. According to the satellite industry association in 2016, U.S. share of global satellite services revenue was 40% out of total USD 127.7 Billion for earth observations, satellite TV, radio and other communication activities. In addition to this, U.S. firms built 27% of satellites including 74% contribution of U.S. government whereas in 2016, 126 satellites have been launched globally and earned 63% of global satellite manufacturing revenues by the U.S. followed by Europe.
Europe is the second-largest region in the global space launch services market due to the presence of advanced technology and 29% of revenue has been generated in 2016 in this region by spacecraft manufacturing and launching service according to satellite industry association.
The Asia Pacific is expected to emerge as the fastest-growing regional market due to presence of huge amount of work force for manufacturing with low cost in this region. The developing countries are involving in the space launch services to enhance their communication, GPS and navigation services. Recently in 2019, China National Space Administration has entered into the moon for humanity’s exploration of the moon with the landing of the probe, called Chang’e-4 after the moon goddess in Chinese mythology.
Key Benefits for Global Space Launch Services Market Report–
Global Space Launch Services Market Segmentation:–
by Payload Capacity
by Launch Platform
by Service Type
by Launch Vehicle
About us: Brandessence Market Research and Consulting Pvt. ltd.
Brandessence market research publishes market research reports & business insights produced by highly qualified and experienced industry analysts. Our research reports are available in a wide range of industry verticals including aviation, food & beverage, healthcare, ICT, Construction, Chemicals and lot more. Brand Essence Market Research report will be best fit for senior executives, business development managers, marketing managers, consultants, CEOs, CIOs, COOs, and Directors, governments, agencies, organizations and Ph.D. Students. We have a delivery center in Pune, India and our sales office is in London.
Contact us at: +44-2038074155 or mail us at email@example.com
Interested in this report?