Space Launch Services Market Size, Share & Analysis Report, 2023-2032
The global space launch services market size was exhibited at USD 14.55 billion in 2022 and is projected to hit around USD 50.41 billion by 2032, growing at a CAGR of 13.23% during the forecast period 2023 to 2032.
Key Pointers:
Space Launch Services Market Report Scope
|
Report Coverage |
Details |
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Market Size in 2023 |
USD 16.47 Billion |
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Market Size by 2032 |
USD 50.41 Billion |
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Growth Rate From 2023 to 2032 |
CAGR of 13.23% |
|
Base Year |
2022 |
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Forecast Period |
2023 to 2032 |
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Segments Covered |
By Payload, By Launch Platform, By Service, By Orbit, and By Application |
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Market Analysis (Terms Used) |
Value (US$ Million/Billion) or (Volume/Units) |
|
Regional Scope |
North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
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Key Companies Profiled |
Airbus S.A.S, Antrix Corporation Ltd., China Aerospace Science, and Technology Corporation, Lockheed Martin Corporation, Mitsubishi Heavy Industries, Northrop Grumman Corporation, Rocket Lab U.S.A., Safran S.A., Space Exploration Technologies Corp, and Others. |
Space launch services are services undertaken by every space mission to deliver a satellite into space at a specified orbit. These services are chosen based on the requirement of the mission along with the defined budget for conducting the space expedition. These services involve several operations, including launch planning, payload integration, licensing, launch infrastructure, and launch mission.
The rising number of space test missions launched in earth orbits and outer space is expected to drive the space launch services market size. For instance, in September 2022, the U.S. Space Force unveiled a mission contract with Firefly Aerospace and Millennium Space to mount the Victus Nox mission. Also, the market is expected to achieve high growth owing to the increasing number of rising number for spaceflights.
Space launch services Market Dynamics
Driver: Increased deployment of small satellites
Over the past few years, space companies have started production of low-cost small/miniaturized satellites, which enable them to provide services equivalent to major companies that conventionally serve government agencies or public sector industries.
One of the factors responsible for the growth of the satellite industry is the increase in the adoption of small satellites for applications such as Earth observation, communication, and scientific research and the increasing focus on reducing total mission costs.
As launch service providers decide the cost of launch based on the weight of the spacecraft, spacecraft manufacturers are focused on miniaturizing the size of satellites. Small satellites tend to cost less, especially in cases where mission payloads have fewer demanding requirements, which enables a reduction in the size of the launch vehicle and thus the fuel need. In addition, technological advancements, such as reusable launch vehicles designed by SpaceX (US), are expected to further enhance the capabilities of satellites at a significantly lower cost. As satellite launch costs decline, the number of satellite launches is expected to increase.
Restraint : Lack of dedicated launch vehicles
Small satellites are carried as secondary payloads and do not have dedicated launch vehicles. Furthermore, as secondary payloads, small satellite missions are restricted by the lack of control of the launch schedule and destination orbit of the vehicle.
This is due to constraints on the volume and pressure of the stored propellant, primarily for the protection of the primary payload, and the requirement of antenna systems for primary payloads, which may restrict the launch of small satellite payloads in more suitable or favorable mission orbits. Moreover, the primary payload may need a pre-programmed orbital velocity and be placed in a specified orbit, limiting launch windows for small satellite missions. This also limits the fulfillment of the mission requirement for small satellites in some applications.
Therefore, the potential use of small satellites in various applications is dependent on the availability of reliable launch vehicles with a requisite range of performance capabilities. However, current launch vehicle performance capabilities do not effectively span the range of potential payloads.
Opportunity: Technological upgrades in space industry
The high development cost of satellites and other spacecraft has always been a major hindrance to the growth of the space industry. Due to technologies, such as the miniaturization of satellites and payloads, manufacturers seek to leverage cost reduction while performing key operations in the value chain.
Defense domains across the globe are also seeking less expensive multifunctional spacecraft. Recoverable launch vehicles are another technology that is a major opportunity for the space industry. Such technologies have made launches easier and cheaper, driving the growth of the space launch services market.
Challenges: Scarce intellectual assets
The tremendous success of recent space exploration missions by space agencies in the Asia Pacific, such as the Indian Space and Research Organization (ISRO) and the China National Space Administration (CNSA), can be attributed to a large number of qualified scientists and personnel with relevant key skills in the region. Critical space operations rely heavily on intellectual assets, incorporating research & development, patents, software, human resources, and new organizational structures. These assets are strategic factors in value creation for firms.
However, the expansion of the services sector, globalization, deregulation, and the emergence of new information and communication technologies has resulted in the scarcity of intellectual assets across the globe. Countries such as Morocco, South Africa, Nigeria, Somalia, Kenya, Bangladesh, Nepal, and Bhutan, among others, have scarce intellectual assets in terms of qualified personnel for space exploration programs. This has resulted in a lack of space exploration programs in these countries, limiting the growth of the space launch services market.
Some of the prominent players in the Space Launch Services Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Space Launch Services market.
By Payload
By Launch Platform
By Service
By Orbit
By Application
By Region
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Space Launch Services Market
5.1. COVID-19 Landscape: Space Launch Services Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Space Launch Services Market, By Payload
8.1. Space Launch Services Market, by Payload, 2023-2032
8.1.1. Satellite
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Human Spaceflight
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Cargo
8.1.3.1. Market Revenue and Forecast (2020-2032)
8.1.4. Testing Probes
8.1.4.1. Market Revenue and Forecast (2020-2032)
8.1.5. Others
8.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Space Launch Services Market, By Launch Platform
9.1. Space Launch Services Market, by Launch Platform, 2023-2032
9.1.1. Land
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Air
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Sea
9.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Space Launch Services Market, By Service
10.1. Space Launch Services Market, by Service, 2023-2032
10.1.1. Pre-launch Services
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Post-launch Services
10.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Space Launch Services Market, By Orbit
11.1. Space Launch Services Market, by Orbit, 2023-2032
11.1.1. Low Earth Orbit
11.1.1.1. Market Revenue and Forecast (2020-2032)
11.1.2. Medium Earth Orbit
11.1.2.1. Market Revenue and Forecast (2020-2032)
11.1.3. Geosynchronous Orbit
11.1.3.1. Market Revenue and Forecast (2020-2032)
11.1.4. Polar Orbit
11.1.4.1. Market Revenue and Forecast (2020-2032)
Chapter 12. Global Space Launch Services Market, By Application
12.1. Space Launch Services Market, by Application, 2023-2032
12.1.1. Commercial
12.1.1.1. Market Revenue and Forecast (2020-2032)
12.1.2. Government
12.1.2.1. Market Revenue and Forecast (2020-2032)
12.1.3. Military
12.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 13. Global Space Launch Services Market, Regional Estimates and Trend Forecast
13.1. North America
13.1.1. Market Revenue and Forecast, by Payload (2020-2032)
13.1.2. Market Revenue and Forecast, by Launch Platform (2020-2032)
13.1.3. Market Revenue and Forecast, by Service (2020-2032)
13.1.4. Market Revenue and Forecast, by Orbit (2020-2032)
13.1.5. Market Revenue and Forecast, by Application (2020-2032)
13.1.6. U.S.
13.1.6.1. Market Revenue and Forecast, by Payload (2020-2032)
13.1.6.2. Market Revenue and Forecast, by Launch Platform (2020-2032)
13.1.6.3. Market Revenue and Forecast, by Service (2020-2032)
13.1.6.4. Market Revenue and Forecast, by Orbit (2020-2032)
13.1.6.5. Market Revenue and Forecast, by Application (2020-2032)
13.1.7. Rest of North America
13.1.7.1. Market Revenue and Forecast, by Payload (2020-2032)
13.1.7.2. Market Revenue and Forecast, by Launch Platform (2020-2032)
13.1.7.3. Market Revenue and Forecast, by Service (2020-2032)
13.1.7.4. Market Revenue and Forecast, by Orbit (2020-2032)
13.1.7.5. Market Revenue and Forecast, by Application (2020-2032)
13.2. Europe
13.2.1. Market Revenue and Forecast, by Payload (2020-2032)
13.2.2. Market Revenue and Forecast, by Launch Platform (2020-2032)
13.2.3. Market Revenue and Forecast, by Service (2020-2032)
13.2.4. Market Revenue and Forecast, by Orbit (2020-2032)
13.2.5. Market Revenue and Forecast, by Application (2020-2032)
13.2.6. UK
13.2.6.1. Market Revenue and Forecast, by Payload (2020-2032)
13.2.6.2. Market Revenue and Forecast, by Launch Platform (2020-2032)
13.2.6.3. Market Revenue and Forecast, by Service (2020-2032)
13.2.7. Market Revenue and Forecast, by Orbit (2020-2032)
13.2.8. Market Revenue and Forecast, by Application (2020-2032)
13.2.9. Germany
13.2.9.1. Market Revenue and Forecast, by Payload (2020-2032)
13.2.9.2. Market Revenue and Forecast, by Launch Platform (2020-2032)
13.2.9.3. Market Revenue and Forecast, by Service (2020-2032)
13.2.10. Market Revenue and Forecast, by Orbit (2020-2032)
13.2.11. Market Revenue and Forecast, by Application (2020-2032)
13.2.12. France
13.2.12.1. Market Revenue and Forecast, by Payload (2020-2032)
13.2.12.2. Market Revenue and Forecast, by Launch Platform (2020-2032)
13.2.12.3. Market Revenue and Forecast, by Service (2020-2032)
13.2.12.4. Market Revenue and Forecast, by Orbit (2020-2032)
13.2.13. Market Revenue and Forecast, by Application (2020-2032)
13.2.14. Rest of Europe
13.2.14.1. Market Revenue and Forecast, by Payload (2020-2032)
13.2.14.2. Market Revenue and Forecast, by Launch Platform (2020-2032)
13.2.14.3. Market Revenue and Forecast, by Service (2020-2032)
13.2.14.4. Market Revenue and Forecast, by Orbit (2020-2032)
13.2.15. Market Revenue and Forecast, by Application (2020-2032)
13.3. APAC
13.3.1. Market Revenue and Forecast, by Payload (2020-2032)
13.3.2. Market Revenue and Forecast, by Launch Platform (2020-2032)
13.3.3. Market Revenue and Forecast, by Service (2020-2032)
13.3.4. Market Revenue and Forecast, by Orbit (2020-2032)
13.3.5. Market Revenue and Forecast, by Application (2020-2032)
13.3.6. India
13.3.6.1. Market Revenue and Forecast, by Payload (2020-2032)
13.3.6.2. Market Revenue and Forecast, by Launch Platform (2020-2032)
13.3.6.3. Market Revenue and Forecast, by Service (2020-2032)
13.3.6.4. Market Revenue and Forecast, by Orbit (2020-2032)
13.3.7. Market Revenue and Forecast, by Application (2020-2032)
13.3.8. China
13.3.8.1. Market Revenue and Forecast, by Payload (2020-2032)
13.3.8.2. Market Revenue and Forecast, by Launch Platform (2020-2032)
13.3.8.3. Market Revenue and Forecast, by Service (2020-2032)
13.3.8.4. Market Revenue and Forecast, by Orbit (2020-2032)
13.3.9. Market Revenue and Forecast, by Application (2020-2032)
13.3.10. Japan
13.3.10.1. Market Revenue and Forecast, by Payload (2020-2032)
13.3.10.2. Market Revenue and Forecast, by Launch Platform (2020-2032)
13.3.10.3. Market Revenue and Forecast, by Service (2020-2032)
13.3.10.4. Market Revenue and Forecast, by Orbit (2020-2032)
13.3.10.5. Market Revenue and Forecast, by Application (2020-2032)
13.3.11. Rest of APAC
13.3.11.1. Market Revenue and Forecast, by Payload (2020-2032)
13.3.11.2. Market Revenue and Forecast, by Launch Platform (2020-2032)
13.3.11.3. Market Revenue and Forecast, by Service (2020-2032)
13.3.11.4. Market Revenue and Forecast, by Orbit (2020-2032)
13.3.11.5. Market Revenue and Forecast, by Application (2020-2032)
13.4. MEA
13.4.1. Market Revenue and Forecast, by Payload (2020-2032)
13.4.2. Market Revenue and Forecast, by Launch Platform (2020-2032)
13.4.3. Market Revenue and Forecast, by Service (2020-2032)
13.4.4. Market Revenue and Forecast, by Orbit (2020-2032)
13.4.5. Market Revenue and Forecast, by Application (2020-2032)
13.4.6. GCC
13.4.6.1. Market Revenue and Forecast, by Payload (2020-2032)
13.4.6.2. Market Revenue and Forecast, by Launch Platform (2020-2032)
13.4.6.3. Market Revenue and Forecast, by Service (2020-2032)
13.4.6.4. Market Revenue and Forecast, by Orbit (2020-2032)
13.4.7. Market Revenue and Forecast, by Application (2020-2032)
13.4.8. North Africa
13.4.8.1. Market Revenue and Forecast, by Payload (2020-2032)
13.4.8.2. Market Revenue and Forecast, by Launch Platform (2020-2032)
13.4.8.3. Market Revenue and Forecast, by Service (2020-2032)
13.4.8.4. Market Revenue and Forecast, by Orbit (2020-2032)
13.4.9. Market Revenue and Forecast, by Application (2020-2032)
13.4.10. South Africa
13.4.10.1. Market Revenue and Forecast, by Payload (2020-2032)
13.4.10.2. Market Revenue and Forecast, by Launch Platform (2020-2032)
13.4.10.3. Market Revenue and Forecast, by Service (2020-2032)
13.4.10.4. Market Revenue and Forecast, by Orbit (2020-2032)
13.4.10.5. Market Revenue and Forecast, by Application (2020-2032)
13.4.11. Rest of MEA
13.4.11.1. Market Revenue and Forecast, by Payload (2020-2032)
13.4.11.2. Market Revenue and Forecast, by Launch Platform (2020-2032)
13.4.11.3. Market Revenue and Forecast, by Service (2020-2032)
13.4.11.4. Market Revenue and Forecast, by Orbit (2020-2032)
13.4.11.5. Market Revenue and Forecast, by Application (2020-2032)
13.5. Latin America
13.5.1. Market Revenue and Forecast, by Payload (2020-2032)
13.5.2. Market Revenue and Forecast, by Launch Platform (2020-2032)
13.5.3. Market Revenue and Forecast, by Service (2020-2032)
13.5.4. Market Revenue and Forecast, by Orbit (2020-2032)
13.5.5. Market Revenue and Forecast, by Application (2020-2032)
13.5.6. Brazil
13.5.6.1. Market Revenue and Forecast, by Payload (2020-2032)
13.5.6.2. Market Revenue and Forecast, by Launch Platform (2020-2032)
13.5.6.3. Market Revenue and Forecast, by Service (2020-2032)
13.5.6.4. Market Revenue and Forecast, by Orbit (2020-2032)
13.5.7. Market Revenue and Forecast, by Application (2020-2032)
13.5.8. Rest of LATAM
13.5.8.1. Market Revenue and Forecast, by Payload (2020-2032)
13.5.8.2. Market Revenue and Forecast, by Launch Platform (2020-2032)
13.5.8.3. Market Revenue and Forecast, by Service (2020-2032)
13.5.8.4. Market Revenue and Forecast, by Orbit (2020-2032)
13.5.8.5. Market Revenue and Forecast, by Application (2020-2032)
Chapter 14. Company Profiles
14.1. Airbus S.A.S
14.1.1. Company Overview
14.1.2. Product Offerings
14.1.3. Financial Performance
14.1.4. Recent Initiatives
14.2. Antrix Corporation Ltd.
14.2.1. Company Overview
14.2.2. Product Offerings
14.2.3. Financial Performance
14.2.4. Recent Initiatives
14.3. China Aerospace Science, and Technology Corporation
14.3.1. Company Overview
14.3.2. Product Offerings
14.3.3. Financial Performance
14.3.4. Recent Initiatives
14.4. Lockheed Martin Corporation
14.4.1. Company Overview
14.4.2. Product Offerings
14.4.3. Financial Performance
14.4.4. Recent Initiatives
14.5. Mitsubishi Heavy Industries
14.5.1. Company Overview
14.5.2. Product Offerings
14.5.3. Financial Performance
14.5.4. Recent Initiatives
14.6. Northrop Grumman Corporation
14.6.1. Company Overview
14.6.2. Product Offerings
14.6.3. Financial Performance
14.6.4. Recent Initiatives
14.7. Rocket Lab U.S.A.
14.7.1. Company Overview
14.7.2. Product Offerings
14.7.3. Financial Performance
14.7.4. Recent Initiatives
14.8. Safran S.A.
14.8.1. Company Overview
14.8.2. Product Offerings
14.8.3. Financial Performance
14.8.4. Recent Initiatives
14.9. Space Exploration Technologies Corp.
14.9.1. Company Overview
14.9.2. Product Offerings
14.9.3. Financial Performance
14.9.4. Recent Initiatives
Chapter 15. Research Methodology
15.1. Primary Research
15.2. Secondary Research
15.3. Assumptions
Chapter 16. Appendix
16.1. About Us
16.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers