Dublin, April 25, 2023 (GLOBE NEWSWIRE) -- The "Space Launch Services Market Share, Size, Trends, Industry Analysis Report, By Payload , By Launch Platform, By Service Type, By Launch Vehicle, By End Use, By Region, Segment Forecast,2023 - 2032" report has been added to ResearchAndMarkets.com's offering.
The global space launch services market size is expected to reach USD 43.94 billion by 2032, according to a new study.
The rising prevalence of CAE adoption in software developing companies all over the world is expected to become a major driving force for the market over the forecast period. The CAE is to make better-performing software for the betterment of the user experience and to solve complex simulations in various graphical companies.
Launch services refer to the process of launching spacecraft into orbit, including rockets, satellites, and crewed spacecraft. This industry has seen significant recent updates and developments, particularly in the areas of reusable rockets, small satellite launch services, and commercial crewed launches.
The launch services industry is the development of reusable rockets. Companies such as SpaceX and Blue Origin have made major strides in this area, with SpaceX successfully landing and reusing its Falcon 9 rockets multiple times. This has significant cost-saving implications for the industry, as reusable rockets can reduce launch costs by a significant margin.
The launch services industry is the rise of small satellite launch services. With the advent of miniaturized satellite technology, there has been a growing demand for launch services that can cater to small satellite operators. Companies such as Rocket Lab and Virgin Orbit have emerged as key players in this market, offering dedicated launch services for small satellites.
Several recent updates in the area of commercial crewed launches. With the retirement of the Space Shuttle, NASA has turned to private companies such as SpaceX and Boeing to provide crewed launch services to the International Space Station. SpaceX has already completed several successful crewed launches, with plans for additional missions in the coming years.
The launch services industry is undergoing rapid change and evolution, with new players and technologies constantly emerging. As the demand for satellite services continues to grow, the launch services industry will likely remain a key area of focus for investment and innovation in the years to come.
Space Launch Services Market Report Highlights
- The test segment is anticipated to expand at a significant CAGR over the forecast period due to rising demand for third-party service providers that supply technically equipped personnel to handle the pricey AI systems.
- The market share of the space launch services segment was dominated by the air segment. The air segment has always been an important part of the business, especially when it comes to sending commercial and government payloads into low-Earth orbit.
- The satellite segment is expected to expand at the fastest rate in the space launch services market. This is because there is a growing demand for satellites to be used for a variety of purposes, such as communication, navigation, Earth observation, and scientific research.
- The space launch services industry is expected to expand significantly in the coming years in both North America and Europe. The rising demand for space missions is also being met by the emergence of new commercial launch service providers in the region.
Market Dynamics
Drivers and Opportunities
- Growing Regulations and Standardization of Space Travel
- Technological Advancements in Space Launch Services
Restraints and Challenges
- Concern Over Space Debris
The publisher has segmented the Space Launch Services report based on the launch platform, payload, launch vehicle, end-use, and region:
Space Launch Services, Payload Outlook (Revenue, USD Billion, 2019-2032)
- Satellite
- Human Spaceflight
- Cargo
- Testing Probes
- Others
Space Launch Services, Launch Platform Outlook (Revenue, USD Billion, 2019-2032)
- Land
- Air
- Sea
Space Launch Services, Launch Vehicle Outlook (Revenue, USD Billion, 2019-2032)
- Small
- Medium to Heavy
Space Launch Services, End-Use Outlook (Revenue, USD Billion, 2019-2032)
- Government & Military
- Commercial
Space Launch Services, Regional Outlook (Revenue - USD Billion, 2019-2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 118 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $15.3 billion |
| Forecasted Market Value (USD) by 2032 | $43.94 billion |
| Compound Annual Growth Rate | 12.4% |
| Regions Covered | Global |
Key Topics Covered:
1. Introduction
2. Executive Summary
3. Research Methodology
4. Global Space Launch Services Market Insights
5. Global Space Launch Services Market, by Payload
6. Global Space Launch Services Market, by Launch Platform
7. Global Space Launch Services Market, by Launch Vehicle
8. Global Space Launch Services Market, by End User
9. Global Space Launch Services Market, by Geography
10. Competitive Landscape
11. Company Profiles
Companies Mentioned
- Airbus S.A.S
- Antrix Corporation Ltd.
- China Aerospace Science
- Technology Corporation
- Lockheed Martin Corporation
- Mitsubishi Heavy Industries
- Northrop Grumman Corporation
- Rocket Lab U.S.A.
- Safran S.A.
- Exploration Technologies Corp.
For more information about this report visit https://www.researchandmarkets.com/r/s40ski
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