Space Launch Services Market Analysis And Key Trends 2032

The global space launch services market size stood at USD 4.28 billion in 2023. The market is set to expand from USD 4.91 billion in 2024 to USD 10.98 billion by 2032, exhibiting a CAGR of 10.6% during the study period.

Space launch services help in interplanetary space exploration through assistance in the launch of humans, cargo, and other payloads. An increase in the deployment of advanced technologies such as 3D printing is expected to generate growth opportunities for industry players.

Fortune Business Insights™ provides this information in its research report, titled “Space Launch Services Market Size, Share, Forecast, 2024-2032”.

Information Source:

https://www.fortunebusinessinsights.com/industry-reports/space-launch-services-market-101931

List of Key Players Mentioned in the Space Launch Services Market Report:

Antrix Corporation Limited (India)
ArianeGroup SAS (France)
Rocket Lab (U.S.)
United Launch Alliance (U.S.)
Space Exploration Technologies Corp. (SpaceX) (U.S.)
Mitsubishi Heavy Industries, LTD. (Japan)
Northrop Grumman Systems Corporation (U.S.)
Roscosmos (Russia)
NASA (U.S.)
Jaxa (Japan)
CNSA (China)
China Aerospace Science and Technology Corporation (China)
Segmentation:

LEO Segment Accounted for Prominent Share Due to Increasing Launch of Satellites

On the basis of orbit type, the market for space launch services is subdivided into GEO, LEO, and others. The LEO segment registered a dominating share in the market. This is driven by the growing initiatives focused on the launch of satellites in this orbit.

Heavy Lift Launch Vehicle Segment Garnered Key Share Owing to Soaring Number of Rideshare Missions

Based on launch vehicle, the market is segmented into medium lift launch vehicle, small lift launch vehicle, and heavy lift launch vehicle. The heavy lift launch vehicle segment captured a leading share in the global market. An escalation in the number of ride share missions at the global level is anticipated to drive the dominance of the segment.

Commercial Segment to Expand at the Fastest Pace Impelled by Increasing Launch of Commercial Offerings

Based on end user, the market for space launch services is bifurcated into civil & military and commercial. The commercial segment is set to emerge as the fastest growing segment. Private organizations are directing their efforts toward the launch of commercial space-based services, which is one of the vital factors driving the segmental growth.

Human Spacecraft Segment to Surge at the Fastest Rate Due to Rise in Space Tourism

By payload, the market is segmented into human spacecraft, cargo, satellite, and testing probes. The human spacecraft segment is slated to grow at the fastest rate over the study period. This can be attributed to an escalation in space tourism and a rise in the number of manned space missions.

Based on geography, the market for space launch services has been studied across Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.

Report Coverage:

The report presents an account of the pivotal initiatives undertaken by major industry participants to gain a strong space launch services market footing. An account of the market scenario based on various segments has also been provided in the report. The industry has been analyzed on the basis of orbit type, launch vehicle, end user, payload, and geography.

Drivers and Restraints:

Industry Value to Rise with Increased Emergence of Private Players

Several startups have emerged in the space industry which are keen to provide low cost and advanced technologies for facilitating a range of space services. These startups are operational in the areas of remote sensing, navigation, earth observation, communication, and others. This places a greater emphasis on the need for satellite constellations, which is expected to favor space launch services market growth.

However, issues pertaining to space debris could create challenges for industry expansion.

Regional Insights:

North America Emerged as Leading Region Due to Increasing Product Deployment for Commercial Purposes

The North America market accounted for a dominant position in the space launch services market. The rising deployment of services offered by private players for a range of commercial purposes is one of the key factors boosting the dominance of the segment.

The Asia Pacific space launch services market share is poised to expand at the fastest growth rate over the analysis period. The increasing demand for launch services from the surveillance, communication satellites, and telecommunication industries from China, India, Japan, and South Korea is set to drive the regional expansion.

Competitive Landscape:

Industry Players Focus on Optimizing the Cost of Offerings to Gain an Edge over Competitors

Companies are engaged in collaborations and optimizing the cost of per-kg launch. These steps are being adopted for outpacing their competitors in the space launch services sector. Some of the key market players are SpaceX and Antrix Corporation Limited.

Key Industry Development:

July 2023 – Rocket Lab USA, Inc., announced its launch of seven satellites. The satellites were launched for NASA, Spire Global, and Space Flight Laboratory from New Zealand.