WILMINGTON, NEW CASTLE, DE, UNITED STATES, September 19, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Space Launch Services Market," The space launch services market was valued at $13.9 billion in 2022, and is estimated to reach $47.3 billion by 2032, growing at a CAGR of 13.4% from 2023 to 2032.

🔰 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/6081

The space launch services industry encompasses the commercialization of sending payloads into space, such as satellites, spacecraft, scientific instruments, and others. Private companies are developing unique launch vehicles and services that provide cost-effective and dependable options for delivering payloads to diverse orbits and destinations. On the basis of the mission’s purpose, space launch services can offer several orbital configurations, like GEO (geostationary orbit), LEO (Low Earth Orbit), MEO (Medium Earth Orbit), and many more.

Moreover, the space launch services market is witnessing suitable growth in recent years, owing to the increase in contracts and demand for satellite launches across the globe. Moreover, the key manufacturers operating in the industry have been inclined towards developing new and advance technology which will reduce the cost of the overall service and offers space tourism as an activity to any aspiring person. For instance, in June 2023, Virgin Galactic completed its first commercial spaceflight mission. The spaceflight named galactic 01. The spaceflight took a 75 minute suborbital journey and landed successfully. Similarly in September 2021, SpaceX falcon 9 has also delivered a four person crew to the space station as a part of company’s space tourism program. Such developments in space tourism program creates opportunities and growth for the space launch service market across the globe.

Increased satellite launches due to rising need for satellite-based services such as broadband internet, navigation, remote sensing, and communication supplements the growth of the market. These services are employed across industries, such as logistics, telecommunications, agriculture, and defense. Moreover, with the advancement in technology and engineering, satellite launch has been made easier and less expensive thus leading to the growth of the market across the globe. With the production of reusable rockets and other space technology has significantly decreased launch costs. Companies alike SpaceX, Blue Origin, and Rocket Lab have developed new launch vehicles and technologies that could lower the cost of satellite launches even further. For instance, on March 1, 2022, NASA successfully launched a third next-generation satellite for the National Oceanic and Atmospheric Administration (NOAA). GOES-T, the latest geostationary operational environmental satellite, was launched from Cape Canaveral Space Force Station on a United Launch Alliance Atlas V rocket.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/space-launch-services-market/purchase-options

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬: -

Airbus
Antrix Corporation limited
China Aerospace Science and Technology Corporation
Lockheed Martin Corporation
Mitsubishi Heavy Industries, LTD
Northrop Grumman Corporation
Rocket Lab USA
SAFRAN SA
SPACEX
Starsem

𝐓𝐡𝐞 𝐥𝐚𝐧𝐝 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on launch platform, the land segment held the highest market share in 2022, accounting for nearly four-fifths of the global space launch services market revenue and is estimated to maintain its leadership status throughout the forecast period. Land-based launches consist of a launch pad, a rocket or spacecraft, and a range of support infrastructure. The land-based launch is preferred the most, as it provides a stable and controlled environment for the launch vehicle. Land-based launch systems are capable of launching large payloads into orbit, making them well-suited for a wide range of missions. However, the sea segment would cite the fastest CAGR of 14.0% during the forecast period.

𝐓𝐡𝐞 𝐩𝐫𝐞-𝐥𝐚𝐮𝐧𝐜𝐡 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on service type, the pre-launch segment held the highest market share in 2022, accounting for more than three-fifths of the global space launch services market revenue and is estimated to maintain its leadership status throughout the forecast period. The same segment is estimated to cite the fastest CAGR of 14.1% during the forecast time period. Pre-launch services might include a wide range of tasks depending on the type of launch site, the mission, and the hardware employed. These services may include spacecraft integration, launch site preparation, launch vehicle and spacecraft testing and checkout, pre-launch processing, and launch operations support.

𝐓𝐡𝐞 𝐡𝐞𝐚𝐯𝐲 𝐥𝐚𝐮𝐧𝐜𝐡 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on launch vehicle, the heavy launch vehicle segment held the highest market share in 2022, accounting for nearly three-fourths of the global space launch services market revenue and is estimated to maintain its leadership status throughout the forecast period. Heavy launch vehicles are required to meet the increase in demand for larger and more complex spacecraft. Interplanetary missions require larger and more sophisticated aircraft, and these missions require the launch of heavy payloads which are expected to be accomplished only by heavy lift launch vehicles. However, the small launch segment would cite the fastest CAGR of 15.3% from 2023 to 2032.

𝐓𝐡𝐞 𝐠𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐚𝐧𝐝 𝐦𝐢𝐥𝐢𝐭𝐚𝐫𝐲 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on end user, the heavy launch vehicle segment held the highest market share in 2022, accounting for more than half of the global space launch services market revenue and is estimated to maintain its leadership status throughout the forecast period. The space launch services are used by the government and military for various purposes such as for scientific research, for instance, the launch of the Hubble space telescope, which helps scientists to study the universe. Moreover, there are communication satellites that help the government and military to communicate in the occurrence of critical situations or contact its personnel in some remote areas. Governments & militaries use space satellites for surveillance and intelligence gathering. The development of the technology and its implementation, such as the launch of James Webb, helps the space launch service market to fulfill the goals of scientific study and space exploration, and national security. However, the commercial segment would cite the fastest CAGR of 13.8% from 2023 to 2032.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/6081

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐠𝐚𝐫𝐧𝐞𝐫𝐞𝐝 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐬𝐡𝐚𝐫𝐞 𝐢𝐧 𝟐𝟎𝟐𝟐

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly one-third of the global space launch services market revenue and is estimated to maintain its leadership status throughout the forecast period. The North American space launch market has been rapidly evolving, with increase in competition as new players have entered the market and established companies competing for the market share. Moreover, there are companies introducing space tourism for people. Blue Origin and SpaceX have developed spacecraft that can be used for commercial spaceflight. However, the Asia-Pacific region would cite the fastest CAGR of 14.9% during the forecast period.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐀𝐞𝐫𝐨𝐬𝐩𝐚𝐜𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

https://www.alliedmarketresearch.com/reusable-launch-vehicle-market-A10670 - Global Opportunity Analysis and Industry Forecast, 2025-2035

https://www.alliedmarketresearch.com/rocket-launchpad-market-A10831 - Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/satellite-manufacturing-and-launch-systems-market-A11976 - Global Opportunity Analysis and Industry Forecast, 2023-2032

David Correa
Allied Market Research
+1 800-792-5285
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