Space Launch Services Market

Dublin, Oct. 10, 2024 (GLOBE NEWSWIRE) -- The "Space Launch Services - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Space Launch Services was estimated at US$17.3 Billion in 2023 and is projected to reach US$38.2 Billion by 2030, growing at a CAGR of 12.0% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Space launch services are crucial for the growing space economy, enabling the deployment of satellites, space probes, cargo, and crewed missions to space. As the demand for satellite-based communication, Earth observation, navigation, and scientific exploration increases, the need for reliable, cost-effective, and efficient space launch services is expanding.

With the emergence of private space companies and commercial space ventures, the space launch industry is experiencing a significant transformation, characterized by innovations in reusable launch vehicles (RLVs), miniaturized satellites, and rideshare missions. The increasing interest in space tourism, lunar exploration, and Mars missions is further driving the growth of the space launch services market, making it a vital component of the space ecosystem.

What Are the Key Drivers of Growth in the Space Launch Services Market?

The growth in the space launch services market is driven by several factors, including the rising demand for satellite deployment, technological advancements in reusable launch vehicles and propulsion systems, and the increasing focus on commercial space ventures and space exploration. The need to provide cost-effective, reliable, and flexible launch solutions for diverse payloads and missions is driving the demand for space launch services.

Technological innovations in small satellite launch vehicles, rideshare missions, and autonomous launch operations, coupled with advancements in AI, digital twins, and ground infrastructure, are enhancing the efficiency, safety, and affordability of space launch services, supporting market growth. The expansion of space launch services in defense, research, and commercial applications, along with the growing emphasis on sustainable, eco-friendly, and rapid-response launch solutions, is creating new opportunities for market players. Additionally, the focus on developing next-generation launch vehicles for deep space exploration, lunar missions, and space tourism is further propelling the growth of the space launch services market.

How Are Technological Innovations Shaping the Space Launch Services Market?

Technological advancements in propulsion systems, materials science, and launch vehicle design are revolutionizing the space launch services market, leading to the development of more efficient, reliable, and cost-effective launch solutions. The introduction of reusable launch vehicles, such as SpaceX's Falcon 9 and Blue Origin's New Shepard, is significantly reducing launch costs and increasing launch frequency, making space access more affordable and sustainable.

The emergence of small satellite launch vehicles, rideshare missions, and dedicated, on-demand launch services is gaining traction, providing greater flexibility and accessibility for satellite operators, research institutions, and commercial space ventures. Moreover, the integration of AI, autonomous systems, and digital twins in launch operations is enhancing mission planning, safety, and performance, supporting the growth of the space launch services market.

Which Market Segments Are Leading the Growth of the Space Launch Services Industry?

Types of launch vehicles include small-lift, medium-lift, heavy-lift, and super-heavy-lift launch vehicles, with medium-lift and heavy-lift launch vehicles holding the largest market share due to their ability to carry diverse payloads, including communication satellites, crewed missions, and interplanetary probes. Payload types include satellites, cargo, crew, and space probes, with satellites being the dominant segment due to the high demand for communication, Earth observation, and navigation services.

End-use sectors comprise commercial, government, defense, and research, with commercial and government sectors leading the market due to the increasing focus on satellite deployment, space exploration, and national security. Geographically, North America and Europe are the largest markets for space launch services, driven by the strong presence of space agencies, private companies, and research institutions, while Asia-Pacific is expected to witness rapid growth due to rising investments in space infrastructure and exploration programs.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Pre-Launch Service segment, which is expected to reach US$23.2 Billion by 2030 with a CAGR of a 13.2%. The Post-Launch Service segment is also set to grow at 10.2% CAGR over the analysis period.

• Regional Analysis: Gain insights into the U.S. market, which was valued at $4.7 Billion in 2023, and China, forecasted to grow at an impressive 11.0% CAGR to reach $5.7 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.

• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.

• Company Profiles: Coverage of major players such as Antrix Corporation Ltd., Arianespace SA, Blue Origin, and more.

• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Key Attributes:

Key Topics Covered:

MARKET OVERVIEW

• Influencer Market Insights

• World Market Trajectories

• Global Economic Update

• Space Launch Services - Global Key Competitors Percentage Market Share in 2024 (E)

• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)

MARKET TRENDS & DRIVERS

• Rising Demand for Satellite Deployment and Space Exploration Drives Space Launch Services Market Growth

• Increasing Focus on Commercial Space Ventures and Private Space Companies Spurs Market Expansion

• Technological Advancements in Reusable Launch Vehicles (RLVs) Propel Innovation in Space Launch Services

• Growing Emphasis on Reducing Launch Costs and Enhancing Payload Capacity Expands Addressable Market

• Rising Demand for Dedicated, On-Demand, and Rapid-Response Launch Services Accelerates Market Adoption

• Focus on Developing Hypersonic and Suborbital Launch Vehicles Drives Market Competitiveness

• Growing Use of Artificial Intelligence and Autonomous Systems in Launch Operations Fuels Market Innovation

• Expansion of Space Launch Services in Military, Scientific, and Commercial Satellite Applications Spurs Market Potential

• Shift Towards Sustainable and Eco-Friendly Launch Technologies Expands Market Opportunities

• Increasing Demand for Space Tourism, Lunar Missions, and Deep Space Exploration Creates New Opportunities for Space Launch Services

FOCUS ON SELECT PLAYERS (Total 46 Featured)

• Antrix Corporation Ltd.

• Arianespace SA

• Blue Origin

• Boeing Company, The

• China Great Wall Industry Corporation

• Eurockot Launch Services GmbH

• Ils International Launch Services, Inc.

• Isc Kosmotras

• Lockheed Martin Corporation

• Mitsubishi Heavy Industries Ltd.

• Orbital ATK, Inc.

• Spaceflight Industries, Inc.

• Spacex

• United Launch Services, LLC.

For more information about this report visit https://www.researchandmarkets.com/r/gl7mid

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Attachment

• Space Launch Services Market

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900