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[ 英語タイトル ] Spacecraft Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Product Code : MDAD00113169
Survey : Mordor Intelligence
Publish On : May, 2021
Category : Aerospace and Defence
Report format : PDF
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[Report Description]

The Spacecraft Market is anticipated to register a CAGR of over 8% during the forecast period (2021 - 2026).

Though the space industry is less exposed to the disruptions caused by the COVID-19 pandemic as compared to other major industries, the impact is still felt in the market, with launches getting postponed, supply chains being disrupted, workforce becoming scarce due to the imposed lockdowns, and access to finance issues threatening the survival of start-ups, and events getting canceled.

The growth in space investments by various countries around the world for space exploration, commercial and military applications is driving the growth of the spacecraft market during the forecast period.

Various players in the market in countries like China, United States, India, and major European countries are collaborating towards the development of advanced space projects. This will generate demand for new space vehicles in the coming years.

The development of advanced technologies has led to miniaturization of the spacecraft components and reduction in overall manufacturing cost which will support the growth of the market.

Key Market Trends

Unmanned Spacecraft Dominates the Market in Terms of Market Share

The unmanned spacecraft segment currently has the highest market share and is expected to continue its dominance during the forecast period. The segment includes revenues from the launch of satellites, cargo transportation spacecraft, and spacecraft for deployment land rovers for planetary exploration missions, among others. Over the past few years, satellite launches have increased to support various applications. Furthermore, the satellite launches are expected to increase in the coming years to support a wide range of applications including military, commercial (like telecommunication), space exploration, etc. In this regard, the Space Development Agency, established in 2019, announced its plan to launch nearly 1,000 satellites in orbit by FY 2026. In October 2020, the Space Development Agency (SDA) awarded a USD 149 million contract to SpaceX for the design, manufacture, and launch of a new military satellite capable of tracking and providing early warnings of hypersonic missile launches. A similar contract worth USD 193 million was also awarded to L3Harris during the same timeframe. A total of eight satellites are scheduled to be manufactured by both the companies and are meant to be the first crucial part of the SDA’s Tracking Layer Tranche 0, which is designed to provide missile tracking for the Defense Department from space using infrared sensors. Such launches are expected to drive the growth of the segment in the coming years.

Asia-Pacific is Expected to Generate the Highest Demand During the Forecast Period

Asia-Pacific is expected to generate the highest demand for spacecraft during the forecast period. This is majorly due to increasing space investments from the countries in the region like China, India, and Japan among others. China is rapidly investing in the space sector to surpass the United States. Earth observation, satellite communications, and satellite manufacturing are some of the major investment areas of the Chinese government and private companies. These robust investments have led to the development and launch of various satellites for the military and commercial sectors. China was the second-largest country after the United States, in terms of the number of operational satellites (approximately 400 satellites) in orbit. According to the China Aerospace Science and Technology Corporation (CASC), approximately 4,000 satellites are expected to be developed and launched by the country in the next five to ten years. Furthermore, the country plans to launch humans to the moon during the forecast period. In this regard, in May 2020, China successfully completed launch of the Long March-5B rocket designed to eventually transport astronauts into space. Similarly, India was developing Gaganyaan, a crewed orbital spacecraft under Indian Human Spaceflight Programme. Due to the effect of COVID-19 pandemic, the launch of the manned demonstration of Gaganyaan manned mission has been delayed to 2023. The first unmanned spaceflight launch is delayed to December 2021 and second to 2022-2023. Similar investments to further develop space sector is expected to accelerate the growth of the region during the forecast period.

Competitive Landscape

The spacecraft market is highly fragmented with many players. The prominent players in the spacecraft market are The Boeing Company, Airbus SE, Lockheed Martin Corporation, Space Exploration Technologies Corp. and Sierra Nevada Corporation. Strategic collaborations and partnerships between both established companies and smaller startups are projected to drive the technology transfer between the companies in the future. In March 2020, NASA announced that the space agencies entered into a partnership with nine university teams to develop advance small spacecraft technologies, which will further extend their capabilities to human and robotic lunar exploration missions. Furthermore, due to the high growth opportunities of the space sector, many new start-ups and companies have been venturing into the sector through satellite manufacturing programs in the commercial sector and manned and unmanned systems development programs. This is increasing the competition in the market for existing players.

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1.1 Study Assumptions
1.2 Scope of the Study



4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION (Market Size by Value - USD billion)
5.1 Type
5.1.1 Manned Spacecraft
5.1.2 Unmanned Spacecraft
5.2 Geography
5.2.1 North America United States Canada
5.2.2 Europe United Kingdom France Germany Russia Rest of Europe
5.2.3 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.2.4 Latin America Brazil Rest of Latin America
5.2.5 Middle-East and Africa Saudi Arabia Turkey Egypt Rest of Middle-East and Africa

6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 The Boeing Company
6.2.2 Airbus SE
6.2.3 Lockheed Martin Corporation
6.2.4 Space Exploration Technologies Corp.
6.2.5 Sierra Nevada Corporation
6.2.6 QinetiQ
6.2.7 Northrop Grumman Corporation
6.2.8 Berlin Space Technologies GmbH
6.2.9 OHB SE
6.2.10 Blue Origin
6.2.11 Maxar Technologies Inc.
6.2.12 Mitsubishi Electric Corporation




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