The new report by Expert Market Research titled, ‘Global Space Launch Services Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global space launch services market, assessing the market based on its segments like payload, launch platforms, service types, launch vehicles, end users, and regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators and analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 12.59 Billion
- Forecast CAGR (2021-2026): 15.33%
- Forecast Market Size (2026): USD 29.64 Billion
The space launch services market is being driven by the growing number clinical trials worldwide. This can be attributed to rising demand for space launching services to aid in the space exploration activities. The increased demand for satellite launching services, especially small satellites, for the establishment of internet networks and smartphone connectivity is anticipated to aid the market growth in the forecast period. Moreover, heightened capital expenditure by the leading market players in the research and development of efficient launching facilities are also estimated to aid the market growth. These factors are expected to drive the market growth in the forecast period.
Industry Definition and Major Segments
Space launch services are offered by companies that specialise in aerospace launching operations. Space launch services include the assembly, construction, testing and launching of the spacecrafts, which are constructed based on the requirement including satellite launching and human spacecrafts, among others.
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The space launch services market, on the basis of payload, can be segmented into:
- Satellite
- Small Satellite (less than 1000 Kg)
- Large Satellite (above 1000 Kg)
- Human Spacecraft
- Cargo
- Testing Probes
- Stratollite
Based on launch platform, the industry can be segregated into:
- Land
- Air
- Sea
On the basis of service type, the market can be bifurcated into:
- Pre-Launch
- Post-Launch
Based on launch vehicle, the industry can be categorised into:
- Small Launch Vehicle
- Heavy Launch Vehicle
On the basis of end user, the market can be distributed into:
- Government and Military
- Commercial
The regional markets for space launch services include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The global space launch services industry is being driven by the increased demand for space launching services for military launching operations is expected to impact market growth positively. The increased investments in strategising space tourism services such as the recent launch conducted by SpaceX are also estimated to aid the market growth. Moreover, the rapid technological advancements such as the development of micro launchers are also estimated to aid the market growth. The factors are anticipated to augment the market growth in the coming years.
Key Market Players
The major players in the market are Airbus SE, Antrix Corporation Limited, Space Exploration Technologies Corp. (SpaceX), Lockheed Martin Corporation, and The Boeing Company, and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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