Global Space Launch Services Market to Reach $29.6 Billion by 2027
DUBLIN, Sept. 21, 2022 /PRNewswire/ -- The "Space Launch Services Market by Payload (Satellite, Human Spacecraft, Cargo, and Space Probes), Service Type, End User(Commercial, Military and Government), Orbit, Launch Vehicle, Launch type and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The space launch services market is estimated to be USD 16.9 billion in 2022 and is projected to reach USD 29.6 billion by 2027, at a CAGR of 15.1% from 2022 to 2027. Growth of this market can be attributed to the increased small satellite launches, investments by venture companies, among others
Flexible Launch Services
Startups and scaleups are developing flexible satellite launch techniques such as air launch to orbit, launch using spacecraft, balloons, autonomous launch vehicles, and drones. Another ground-based launch service innovation is the containerization of small sats for easier launch to LEO constellations. Startups are also investing in the R&D of large, small, and micro launch vehicles to cater to all types of payloads.
Sidereus Space, an Italian space company, offers flexible satellite launch services worldwide thanks to its reusable launch vehicle. Satellite owners can use the startup's multi-purpose launch vehicle for launch and orbital re-entry. It uses miniaturized propulsion technologies to provide SSTO in a matter of weeks for both LEO and sun-synchronous orbits (SSO).
Satellite operators are using space situational awareness (SSA) to detect and clear space trash due to the exponential increase in satellite launches. Startups are investing in R&D of self-destruction and other deorbiting technologies for decommissioning satellites, which are proving to be viable for the future of space launch services. Another trend in satellite technology for decluttering space is extending existing satellites' life.
Obruta Space Solutions (Canada) uses its proprietary service pods and systems to perform satellite maintenance while in orbit. Refueling, epairing, recharging, relocating, deorbiting, and data transfer are major services provided by the company in space. These advancements in service will lead in extended mission time and reduce the rate of crucial mission failures.
Commercial: The fastest growing segment of the space launch services market, by End Use
The commercial segment has been sub-segmented into satellite service providers and private companies. In collaboration with satellite operators (Intelsat, Eutelsat, and Telesat Canada), satellite service providers gather global real-time data and distribute it at a cost-effective price across wide geographic areas to their customers. Commercial companies can gather real-time data generated through satellite imagery with a wide range of low and medium inclination orbits and long-range tracking cameras provided by space launching services. Earth-imaging satellites for agriculture, education, intelligence, navigation, mapping, and other use cases have driven the commercial sector during the forecasting period.
The main purposes of space launch services are to send satellites or other spacecraft into orbit, transport supplies and astronauts to the International Space Station (ISS), and send tourists into space. Satellites used for communications are created and sold primarily for civilian, academic, nonprofit, or commercial uses as opposed to military ones. Remote sensing satellites use a variety of spectral bands, including radio, infrared, and light, to create images of the earth. Most of the commercial space market is made up of satellite services, which offer communications, broadband internet, direct-to-home television, radio, and imaging/mapping services.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Space Launch Services Market, by End-User
8 Space Launch Services Market, by Launch Vehicle
9 Space Launch Services Market, by Launch Type
10 Space Launch Services Market, by Orbit
11 Space Launch Services Market, by Payload
12 Space Launch Services Market, by Service Type
13 Regional Analysis
14 Competitive Landscape
15 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/f5axa5
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