Global Space Launch Services Market is valued approximately USD 9.88 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 15.7% over the forecast period 2020-2027. The market for space launch services is linked to the activities of space launch service providers. Space launch services consists of a series of events, such as ordering, conversion, construction, stacking and assembly, integration of payloads and start-up. The entry of private start-up service providers has resulted in a decrease in start-up costs and the introduction of new technologies, marking a new phase in the market. Further, the demand for space launch services has been rising due to the growing activities of space exploration around the world. For instance according to statista more than 24 percent of respondents ages 18 to 34 years said they are very interested in space exploration. The growing demand for these services has led to intense competition on the market. It has been noted that major corporations want to partner with other companies in order to acquire a broader customer base. In August 2020, Ariane Group SAS confirmed it had signed a deal to launch a new space satellite with Northop Grumman and Maxar Technologies. The companies will launch the Ariane 5 launch vehicle via VA253. Growing numbers of these businesses would have a direct influence on the growth space launch service market. Owing to the growing use of satellites for surveillance and communications by commercial and military end-users, the production and deployment of these satellites has increased significantly in the last few years. This is expected to drive the demand for global space launch services market. However, high initial costs associated with the launch services impedes the growth of the market over the forecast period of 2020-2027. Also, Efforts to reduce the cost of launch services offer a lucrative opportunity for market players operating in the space launch services industry.
The regional analysis of global Space Launch Services market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share owing to the increasing space research programs and the increasing number of space satellites launched by companies based in the region will have a direct impact on the growth of the regional market. Whereas, North America is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the presence of numerous large-scale space organizations, particularly in the United States. would create lucrative growth prospects for the Space Launch Services market across the region.
Major market player included in this report are:
Antrix Corporation Ltd.
Mitsubishi Heavy Industries
Space Exploration Technologies Corp (SPACEX)
The Boeing Company
Lockheed Martin Corp.
State Space Corporation ROSCOSMOS
China Aerospace Science and Technology Corporation
Northrop Grumman Corp.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Launch Platform:
By Launch Vehicle:
Small (less than 300tons)
Heavy (above 300 tons)
Government & Military
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Space Launch Services Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers