Space Launch Services Market Share, Size, Trends, Industry Analysis Report, By Payload (Satellite, Human Spaceflight, Cargo, Testing Probes, and others); By Launch Platform; By Service Type; By Launch Vehicle; By End Use; By Region; Segment Forecast, 2022
- Published Date:Nov-2022
- Pages: 101
- Format: PDF
- Report ID: PM2862
- Base Year: 2021
- Historical Data: 2018-2020
Report Summary
The global space launch services market was valued at USD 12.69 billion in 2021 and is expected to grow at a CAGR of 14.5% during the forecast period.
The increasing number of space test missions launched in earth orbits and outer space along with a rising number of space programs by key countries are expected to foster the growth of the market. This coupled with new mission contracts awarded to key players for re-launching constellations of small satellites by government space institutions is projected to grow the market. For instance, in September 2022, the U.S. Space Force announced a mission contract with Firefly Aerospace and Millennium Space for its mission code named Victus Nox.
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The space launch service is a complex process undertaken by every space mission to get their payload in space at a specified orbit. The selection of these services depends upon the need of the mission along with the budget available for conducting the space expedition. These services range from planning the launch, licensing it, integrating the payload in the craft, logistical support of the launch vehicle to the site, and launching the mission to space.
Increasing technological advancements such as customizing launch and transfer vehicles for orbiting satellites, payload integration, and development of environment-friendly propellants are some primary reasons responsible for the adoption of space launch services owing to the rising need for innovative solutions required by space mission companies.
Moreover, growing regulations and standardization of space travel are expected to drive the growth of the market. Space licensing is a complex process and is regulated by various governments and international conglomerates.
For instance, according to the data published by Federal Aviation Administration, the total number of licensed space launches accounted to be 497 since 1989. The licensed space launches by the end of the year 2022 are estimated to be 70 with 12 licensed launches scheduled for the year 2023. Therefore, historically space launches have been increasing every year and are predicted to bolster through the study period. This is expected to grow the demand for space launch services and thereby support the growth of the market.
The outbreak of the COVID-19 pandemic has significantly impacted the growth of the space launch services market. The emergency halts in operational facilities of spacecraft and aerospace device manufacturers altered product launches by key market players and subsequently affected previously contracted space missions. The pandemic also affected the research funding which fuels the space launch industry slowing down the growth of the market. Moreover, new generations of payloads such as the Stratollite suffered a delay in market entry along with further development and flight testing of the same.
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Industry Dynamics
Growth Drivers
Increasing investments in new contracts by major government-funded space organizations to develop and upgrade launching equipment is expected to support the growth of the market. For instance, in August 2022, SpaceX announced five space launch contracts with the National Aeronautics and Space Administration (NASA) valued at USD 1.4 billion. The presence of modern contracts enabling the long-term development of launching systems aided by the government to support space travel is estimated to augment the growth of the market.
Technological advancements in space launch services such as recoverable launch systems, and reusable jet engines are a growing trend that is adopted among the space launch service industry along with growing adoption of the same by space exploration companies. For instance, in July 2022, Ariane Group announced the development of reusable space rockets which are funded by the European Commission (EC) through its Horizon Europe program.
Report Segmentation
The market is primarily segmented based on payload, launch platform, launch vehicle, end use, and region.
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By Payload |
By Launch Platform |
By Launch Vehicle |
By End User |
By Region |
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Satellite segment is expected to witness the fastest growth
The increasing number of space missions for launching satellites in Geostationary Earth Orbits (GEO) and Low Earth Orbits (LEO), along with the rising adoption of miniature satellites by industry stakeholders to keep costs low and serve applications of observation, extraterrestrial research along with improvement in satellite communication are some of the key reasons for the rising demand space launch services. This coupled with an increasing number of space launches that are expected to support the growth of the segment.
For instance, an article published by Phys.org, in March 2022, reported 3,400 nano-satellite missions to have been launched since1998. Thus, the increasing demand for launching satellites combined with the rising number of space launches is estimated to grow the demand for space launch services.
Air segment accounted for a considerable market share in 2021
The air segment is expected to grow significantly through the forecast period owing to the reduced cost of propulsion, higher payload capacity, and ability to be launched at supersonic speeds while improving the optimization of space travel. This along with technological advancements in launching systems to cater to the rising demand for space launching services through air launching platforms is expected to boost the growth of the segment.
For instance, in November 2022, NASA announced a novel space launch system to launch satellites from the Air directly to space through high-flying and ultra-fast aircraft for national defense.
The pre-launch segment is expected to hold the significant revenue share
The pre-launch segment is anticipated to grow through the forecast period owing to the increasing number of market players offering integrative and mission management services to cater to the rising demand for mission support for growing space expeditions. These include planning, licensing, customization, logistical support, and execution of launching the mission to space successfully. Customizing launch vehicles and launch insurance are some key services driving the adoption of pre-launch services thereby supporting market growth.
Moreover, the key initiatives undertaken by major space organizations such as NASA to promote outsourcing of pre-launch services are further predicted to drive the growth of the segment. For instance, in January 2022, NASA announced contracts with more than 12 companies involved in the provision of pre-launch space services to cater to its low-cost launching requirements of small satellites such as CubeSats among other small satellites. The missions focused on launching payloads in space as either rideshare or dedicated missions.
The demand in North America is expected to witness significant growth
North America is expected to witness significant growth due to the increasing number of commercial launch service providers catering to the rising demand for space missions is expected to drive the region’s growth.
Europe is expected to grow throughout the forecast period owing to increasing technological advancements in the launch technologies along with a growing number of new entrants in the space launch services market space. The services are inclusive of tailor-made mission management; pre and post-launch support and integrative solutions to assist space missions with logistics and launch support.
Competitive Insight
Some of the major players operating in the global market include Airbus, Antrix Corporation, China Aerospace Science, Lockheed Martin, Mitsubishi Heavy Industries, Northrop Grumman, Rocket Lab, Safran, and Space Exploration.
Recent Developments
In July 2022, Space Exploration Technologies Corporation (SpaceX) announced a NASA Launch Services (NLS) II contract for the provision of services to launch the Nancy Grace Roman Space Telescope (NGRST) mission. The collaboration strengthens the company’s market position in the space launch services industry along with improving the brand acceptance of the space launch service industry.
Furthermore, in November 2022, Exotrail announced a multi-deal contract with Isar Aerospace to launch and deliver satellites in Low Earth Orbit (LEO) and Geostationary Transfer Orbits (GTO). The collaboration enables European launch providers such as Isar Aerospace to initiate single and multiple constellations of satellites to targeted orbits for serving purposes such as telecommunication, logistical support in space, and serving as an observatory and space exploration.
Space Launch Services Market Report Scope
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Report Attributes |
Details |
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The market size value in 2022 |
USD 14.48 billion |
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Revenue forecast in 2030 |
USD 42.9 billion |
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CAGR |
14.5% from 2022 – 2030 |
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Base year |
2021 |
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Historical data |
2018 – 2020 |
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Forecast period |
2022 – 2030 |
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Quantitative units |
Revenue in USD billion and CAGR from 2022 to 2030 |
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Segments covered |
By Payload, By Launch Platform, By Service Type, By Launch Vehicle, By End User and By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
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. among others. |
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- Regional analysis
- Segmentation analysis
- Industry outlook
- Competitive landscape
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