Space Launch Services Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Space Launch Services Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Space Launch Services Market

The Space Launch Services market size was valued at USD 4.28 billion in 2023, and the market is now projected to grow from USD 4.91 billion in 2024 to USD 10.98 billion by 2032, exhibiting a CAGR of 10.6% during the forecast period of 2024-2032.

The COVID-19 widespread had a major affect on the space industry, particularly within the ranges of satellite launches, kept an eye on spacecraft, launch vehicles, space launch administrations, and post-launch administrations. For case, plans to dispatch the Landsat 9 toady, a joint exertion between NASA and the U.S. Topographical Study, were hampered by the supply chain disruption due to COVID-19. Within the first quarter of 2020, major companies such as Rocket Labs ended shipments until the conclusion of 2020. Essentially, the United Launch Alliance (ULA) had proposed deferring the launch until 2022.

Various public and private space organization over the globe are centered on adopting 3D printing technologies to manufacture and coordinated dispatch prepared space vehicle at a speedier rate. 3D printing innovations, such as Additive Layer Manufacturing (ALM) can make complex plans more precisely than conventional generation forms. Besides, 3D printing speeds up the prototyping handle by creating parts in hours. This permits the fast completion of each stage. Compared to prototyping, 3D printing makes design changes much more productive as parts can be delivered rapidly and financially.

Democratization of space industry has driven to the usage of new space approaches over the globe to hatch new companies in creating progressed and low fetched advances. For occasion, in December 2023, the Indian government propelled Space Arrangement 2023 which would energize the dynamic interest of non-government entities in space economy with back from Indian Space Research Organization (ISRO). In expansion, the Indian National Space Advancement and Authorization Center (IN-SPACe) has marked about 45 MoUs with NGEs to procure several space frameworks created by such NGEs.

Comprehensive Analysis Of Space Launch Services Market

Based on orbit sort, the market is sectioned into LEO, GEO, and others. The LEO section ruled the advertise and is evaluated to be the quickest developing amid estimate period. This is often owing to the rising number of satellite launches in LEO. By launch vehicle, the market is separated into small lift launch vehicle, medium lift launch vehicle, and heavy lift launch vehicle. The heavy lift launch vehicle fragment overwhelmed the advertise owing to expanded number of ride share missions over the globe. By conclusion client, the market is partitioned into commercial and respectful & military. The commercial section ruled the advertise and is assessed to be the speediest developing market owing to rising space-based commercial administrations advertised by private organizations. Based on payload, the advertise is categorized into satellite, cargo, human spacecraft, and testing probes. The satellite portion ruled the market owing to expanded number of satellite launches over the globe.

The North America market was esteemed at USD 3.53 billion in 2023. The prevailing development in this region is due to the rising appropriation of private launch services for commercial purposes. SpaceX and Blue Origin are the conspicuous private players within the North America market.

The worldwide market is developing at a considerable pace due to the presence of key market players such as:

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

Within the month of August 2023, the Land Space, a private Chinese company created and propelled the world's to begin with methane fluid oxygen rocket into orbit. The Suzaku-2 rocket took off from the Jiuquan satellite launch center in northwestern China at 9 am, completing its flight.

Segmentation Table

Attribute Details

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 10.6% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Orbit Type

LEO

MEO

GEO

Others

By Launch Vehicle

Small Lift Launch Vehicle

Medium Lift Launch Vehicle

Heavy Lift Launch Vehicle

By Payload

Satellite

Cargo

Human Spacecraft

Testing Probes

By End User

Civil & Military

Commercial

North America (By Orbit Type, Launch Vehicle, Payload, End User and Country)

- U.S. (By Orbit Type)

- Canada (By Orbit Type)

Europe (By Orbit Type, Launch Vehicle, Payload, End User and Country)

- U.K. (By Orbit Type)

- Germany (By Orbit Type)

- France (By Orbit Type)

- Russia (By Orbit Type)

- Rest of Europe (By Orbit Type)

Asia Pacific (By Orbit Type, Launch Vehicle, Payload, End User and Country)

- China (By Orbit Type)

- Japan (By Orbit Type)

- India (By Orbit Type)

- South Korea (By Orbit Type)

- Rest of Asia Pacific (By Orbit Type)

Middle East & Africa (By Orbit Type, Launch Vehicle, Payload, End User and Country)

- UAE (By Orbit Type)

- Saudi Arabia (By Orbit Type)

- Israel (By Orbit Type)

- South Africa (By Orbit Type)

- Rest of the Middle East & Africa (By Orbit Type)

South America (By Orbit Type, Launch Vehicle, Payload, and Country)

- Brazil (By Orbit Type)

- Argentina (By Orbit Type)

- Rest of South America (By Orbit Type)


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