iCrowd Newswire – Jul 20, 2020
The Global Space Launch Services Market is estimated to grow at a CAGR of 15.7% during the forecast period 2020-2027. As per the detailed market study, the global space launch services industry was valued $9.88 billion in the year 2019 and is anticipated to reach $32.41 billion by the end of the year 2027.
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The space launch services industry is related with the activities carried out by providers of space launch services. It consists of various events such as space launch, integration of payload, stacking and assembly, construction, conversion and ordering. New market entrants in the space launch services industry create a competitive environment that result in decline in cost of launch and the market is witnessing novel technologies.
The Global Space Launch Services Market is driven by various growth factors such as surge in number of satellites and testing probe launches, increase in demand for commercial non-geostationary satellite orbit space launches, increased government focus towards this sector attracts high investment from country-based governments along with private funding. On the other hand, high initial cost related with the launch services, resistance related to adaptability of new technologies and lack of skilled professional impede the market growth over the forecast period. Moreover, issues related to interoperability faced by companies dealing in space launch services also hinders the market growth.
Segmentation overview of the Global Space Launch Services Market
The global space launch services market is segmented on the basis of payload, launch platform, service type, launch vehicle and end-user. These market segments are further categorized into various sub-segments to study the market in detail.
On the basis of Payload Segment, the Global Space Launch Services Market is Sub-Segmented into:
- Testing Probes
- Human Spacecraft
On the basis of Launch Platform Segment, the Global Space Launch Services Market is Sub-Segmented into:
On the basis of Service Type Segment, the Global Space Launch Services Market is Sub-Segmented into:
- Post Launch
On the basis of Launch Vehicle Segment, the Global Space Launch Services Market is Sub-Segmented into:
- Small (Less Than 300 tons)
- Heavy (Above 300 tons)
On the basis of End User Segment, the Global Space Launch Services Market is Sub-Segmented into:
- Government & Military
Key Players Included in the research study of the Global Space Launch Services Market
BLUE ORIGIN, Virgin Galactic, Vector Launch, Inc., Maxar Technologies Inc., Swedish Space Corporation, Firefly Aerospace, Astrobotic., Northrop Grumman Corp., China Aerospace Science and Technology Corporation, Starsem, S7 Space (Sea Launch), Rocket Lab USA, State Space Corporation ROSCOSMOS, Lockheed Martin Corp. (United Launch Alliance), The Boeing Company (United Launch Alliance), Safran (Arianespace), AIRBUS S.A.S (Arianespace), Space Exploration Technologies Corp (SPACEX), Mitsubishi Heavy Industries and Antrix Corporation Ltd. are some major players included in the research study of the global space launch services market.
Geographical Overview of the Global Space Launch Services Market
The U.S. space launch services market dominated the global marketplace in the year 2019 by contributing around 2/5th of the market share. Also, the country is anticipated to grow at the fastest growth rate with a CAGR of ~18% during the forecast period 2020-2027.
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Keywords: Space Launch Services Market