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Rising need for small satellites and demand for satellite data are among some of the key factors driving market revenue growth
VANCOUVER, BC, CANADA, July 19, 2022 /EINPresswire.com/ -- Global space launch services market size reached USD 6.59 billion in 2021 and is expected to register a revenue CAGR of 14.6% during the forecast period, according to latest analysis by Emergen Research. Rising demand for small satellites and for satellite data are some key factors expected to continue to drive market revenue growth over the forecast period.
Small satellites are cost-effective and reduce time for manufacturing and launch into orbit. These satellites are normally launched as a group and that mitigates risks of failure and allows for multiple points of data collection. Moreover, launch vehicles can carry and place a larger number of smaller satellites in orbit or further at the same time, which is a key factor increasing demand for small satellites, and is expected to drive revenue growth of the global market going ahead.
Rising need for small satellites and demand for satellite data are among some of the key factors driving market revenue growth
Satellite data is playing a crucial role in effective decision making and policymaking among defense personnel and across various agencies. Satellites imagery data is analyzed using Artificial Intelligence (AI) in order to monitor changes in border encroachment, weather patterns, land use, efficient utilization of water, and town planning. Satellite data can also play an important role in risk mitigation during natural disasters. Increasing demand for satellite data to enhance decision making has been resulting in increasing number of government-funded space initiatives and for sending satellites into Earth\'s orbit.
If you are a Space Launch Services vendor than this article will help you understand the Sales Volume with Impacting Trends.
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Development of Reusable Launch Vehicle (RLV) technology is another major factor expected to continue to drive revenue growth of the global space launch services market. Use of RLVs can reduce costs of space missions considerably. Conventional launch vehicles such as Polar Satellite Launch Vehicles (PSLVs) and Geosynchronous Satellite Launch Vehicles (GSLVs) are launched once and then discarded as these burn up on reentry into the atmosphere. Reusable launch vehicles can serve to launch multiple payloads into orbit, and this ensures considerably less space debris is generated.
However, international laws have restricted scope of higher investment by private firms by limiting ownership of properties in celestial bodies in outer space. Another key factor hampering growth of the global space launch services market is increasing volumes of space debris. In addition, success rate and high costs involved are factors that are seriously considered as every mission may not yield desirable results. These are among some of the key factors hampering potential market growth.
The major manufacturers covered in this report:
Space Exploration Technologies Corporation, Spaceflight Industries, Inc., International Launch Services, Inc., Blue Origin, LLC, Eurockot Launch Services GmbH, Mitsubishi Heavy Industries Ltd., Arianespace S.A., China Great Wall Industry Corporation., Antrix Corporation Limited, and International Space Company Kosmotras
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The all-inclusive report offers a thorough analysis of the market growth and trends, factors influencing the growth of the market, market estimations, drivers, restraints, and overall market analysis. The report also includes an examination of leading segments and sub-segments of the Space Launch Services market to offer an industry-wide analysis.
Segments Covered in this report are:
Payload Outlook (Revenue, USD Billion; 2019–2030)
Small Satellite
Nanosatellite
Microsatellite
Minisatellite
Medium Satellite
Large Satellite
Human Spacecraft
Services Outlook (Revenue, USD Billion; 2019–2030)
Pre-launch Services
Management Services
Integration & Logistics
Tracking, Data & Telemetry Support
Insurance
Post-launch Services
Launch and Early Operations Phase
Re-supply Missions
Stabilization
Orbit Outlook (Revenue, USD Billion; 2019–2030)
Low Earth Orbit (LEO)
Medium Earth Orbit (MEO)
Geosynchronous Orbit
Polar Orbit
Market Segmentation based on Key Geographical Regions:
North America (U.S.A., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Global Space Launch Services Market Report Highlights:
Small satellite segment revenue is expected to register a substantially rapid CAGR during the forecast period due to rising demand for small satellites, owing to reduction in manufacturing and costs of launching, shorter period for mission planning, and flexibility to launch multiple satellites in a single mission. Moreover, small satellites can be customized as per requirement, which is expected to boost demand for small satellites in future.
Low Earth Orbit (LEO) segment is expected to register a significantly robust revenue growth rate over the forecast period due to ability to provide a low-latency, high-speed connection, enabling better Internet connectivity and decision-making capabilities.
North America is expected to register a more robust revenue growth rate over the forecast period among other regional markets due to presence of international and domestic space launch service providers such as Space Exploration Technologies Corporation., Blue Origin LLC, and Spaceflight Industries, Inc., among others in countries in the region.
In November 2021, Spaceflight Industries, Inc. launched 13 customer payloads into two separate orbits for the first time. After being launched by SpaceX\'s Falcon 9 rocket, Orbital Transfer Vehicles (OTV) will first place four microsatellites and five CubeSats in Sun Synchronous Orbit (SSO), and then travel 500 kilometers to deploy remaining four CubeSats in a different orbit.
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The professional intelligence study on the Space Launch Services market addresses some of the most critical questions:
What are the key trends in the Market?
What are the driving forces behind the Space Launch Services market?
What are the obstacles to market growth?
Which are the top vendors in this space?
What are the threats and opportunities in the market for key vendors?
What are the strengths or weaknesses of critical vendors?
What are the future opportunities for the players in the Space Launch Services market?
What are the main issues facing the global Space Launch Services market?
How does the competitive landscape look?
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On a concluding note, the report offers a panoramic view of the Space Launch Services market on both the global and regional levels. It is inclusive of key statistical data and industry-verified facts and thoroughly evaluate the size, share, and market volume of the Space Launch Services industry to forecast the same over 2020-2028.
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