Space Launch Services Market is expected to have a compound annual growth rate (CAGR) of 15.7% during the forecast period of 2021 – 2026 values at 9.88 billion US dollars in the year 2021 which is expected to increase the growth by 32.41 billion US dollars by the end of 2026. The Space Launch Services market value is expected to increase more during the forecast period.
Space Launch Services Market Segmentation:
The Space Launch Services market is segmented on the basis of payload, on the basis of end user, on the basis of launch platform, on the basis of service type, on the basis of launch vehicle and on the basis of geography.
On the basis of payload, the Space Launch Services market is segmented into satellite (small, large), human spacecraft, cargo, testing probes, stratollite. Among these segments, the satellite segment holds the major share of the market due to the increasing demand for small satellite, nano satellite, mini satellite, medium satellite and large satellites. Furthermore, rising space programs by NASA to develop technologically advanced space launch services is also helping the market to grow further.
On the basis of launch platform, the market of Space Launch Services is bifurcated into land, air and sea. Among these segments, the land segment holds the major share of the market with increasing of land-based space launches.
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On the basis of service type, the market of Space Launch Services is bifurcated into two types namely pre-launch service and post launch service.
On the basis of launch vehicle, the market of Space Launch Services is bifurcated into two types namely small (less than 300 tons), heavy (above 300 tons). Among these segments, the small launch vehicle holds the major share of the market owing to the rapid usage of reusable launch vehicles in the commercial space programs.
On the basis of end user, the market of Space Launch Services is bifurcated into government & military, commercial. Among these segments, the commercial segment holds the major share of the market due to increased funding from the private sector. Furthermore, the commercial segment is one of the fastest growing segments during the forecast period due to the increasing of launch of communication, satellites which are mainly used for radio and internet services.
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Regional Analysis:
The Space Launch Services market is elaborated in various regions all around the world such as North America (US, Mexico, Canada and rest of North America), Europe region (Italy , UK, France, Germany, Spain and rest of Europe), Asia Pacific region (Japan, India, China, Australia and rest of Asia Pacific).
Asia Pacific region holds the major share of the market of Space Launch Services owing to the increasing of space launches, rising demand for telecommunication and surveillance applications.
North America region holds the second largest share of the market of Space Launch Services owing to the factors such as increasing of space expenditure especially in some economies such as United States and Mexico.
Europe region is expected to have the fastest growth rate in the forecast period with the increasing disposable income.
Key market players:
Some of the key market players of Space Launch Services market are: China Aerospace Science and Technology Corporation, Northrop Grumman Corp, Astrobotic, AIRBUS S.A.S (Arianespace), Safran (Arianespace), The Boeing Company (United Launch Alliance), Lockheed Martin Corp. (United Launch Alliance), Antrix Corporation Ltd., Mitsubishi Heavy Industries, Space Exploration Technologies Corp (SPACEX), State Space Corporation ROSCOSMOS, Rocket Lab USA, S7 Space (Sea Launch), Starsem, Firefly Aerospace, Swedish Space Corporation, Maxar Technologies Inc., Vector Launch, Inc., Virgin Galactic, BLUE ORIGIN.
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