Space Launch Vehicle Services Market is Forecasted to Reach US$ 18 Billion in 2030, Says Stratview Research

Stratview Research, a global market research firm has launched a report on the global Space Launch Vehicle Services Market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Market Statistics:

Market Size in 2030: US$ 18billion

Growth (CAGR): 10.9% during 2024-2034

Leading Payload Type: Satellite

Leading Orbit Type: LEO

Leading Service Type: Pre-launch service

Leading Lift Type: Medium to heavy-lift launch vehicles

Leading Launch Vehicle Type: Reusable launch vehicles

Leading End-Use Type: Commercial

Leading End-User Type: Government

Leading Region: North America

Forecast Period: 2024-2030

Trend Period: 2018-2022

Base Year: 2023

Number of Segments Covered: 8

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights on the Space Launch Vehicle Services Market:

The global Space Launch Vehicle Services Market is segmented based on payload type, orbit type, service type, lift type, launch vehicle type, end-use type, end-user type and region.

Based on payload type – Based on the payload type, the market is segmented into satellites, space probes, cargo spacecraft, and human spacecraft. Among these payload types, satellites are expected to maintain their dominance in the market during the forecast period owing to the increasing demand for Earth observation, navigation, communication, and scientific research satellites. The increase in satellite constellations for global connectivity, the expanding scope of commercial space activities, and ongoing developments in miniaturized satellite designs contribute to the sustained dominance of satellites as the preferred payload, reflecting their indispensable role in modern space endeavors.

Based on orbit type – Based on the orbit type, the market is segmented into LEO, MEO, GEO, and beyond GEO. Among these orbit types, LEO is expected to be the dominant segment of the market over the next six years. LEO offers a strategic advantage, i.e. proximity to Earth, which enables lower launch costs and reduced travel time for satellites.

Based on service type – Based on the service type, the market is segmented into pre-launch service and post-launch service. Between these service types, the pre-launch service is anticipated to remain the dominant segment of the market in the years to come, as mission planning, payload integration, system testing and simulations, quality control, and regulatory compliance are indispensable elements that contribute to the seamless execution of space launches. Therefore, as the complexity and diversity of space missions increase, the demand for comprehensive pre-launch services is likely to rise proportionally.

Based on lift type - Based on the lift type, the market is segmented into small-lift launch vehicles and medium to heavy-lift launch vehicles. Between these launch vehicles, the medium to heavy-lift launch vehicle is anticipated to maintain its dominance in the market in the coming years, as these vehicles have high payload capacities, making them suitable for a wide range of applications, including large communication satellites, space station modules, and interplanetary missions.

Based on launch vehicle type - Based on the launch vehicle type, the market is segmented into reusable launch vehicles and single-use launch vehicles. Between these launch types, the reusable launch vehicle is anticipated to be the biggest demand generator in the market during the forecast period, as these launch vehicles are designed to be recovered and reused for multiple missions, as opposed to traditional expendable launch vehicles that are used once and then discarded. The development of reusable space launch vehicles is aimed at reducing the cost of space access by minimizing the need to manufacture new components for each launch.

Based on end-use type - Based on the end-use type, the market is segmented into commercial and non-commercial. Between these purpose types, the commercial purpose is anticipated to continue as the major demand generator in the market in the upcoming years, owing to the increasing involvement of private companies in space-related activities, ranging from satellite deployment for communication and Earth observation to the emergence of commercial space tourism.

Based on end-user type - Based on the end-user type, the market is segmented into private and government. Between these end-user types, the Government is expected to remain the dominant category of the market during the forecast period, owing to the government's sustained interest and investments in space exploration, national security, and scientific research.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is expected to remain the largest market for space launch vehicle services during the forecast period. This growth outlook is majorly attributed to the following–

• The region is home to NASA along with several leading private aerospace companies (such as Rocket Lab, Inc. and Northrop Grumman Corporation) that are driving innovation and advancements in space technologies.
• The USA, in particular, has a well-established space industry with a robust infrastructure for space launches.
• On the other hand, Asia-Pacific is anticipated to be the fastest-growing region in the market in the years to come, since the region has witnessed a substantial surge in space activities, driven by the growth of ambitious space programs.
• Countries, such as China and India, have made significant investments in their space capabilities, increasing the demand for space launch vehicle services in the region.

Space Launch Vehicle Services Market Drivers:

Some of the key drivers listed in the report are given below.

• The space launch vehicle service providers work with satellite manufacturers, space agencies, and other customers to integrate payloads onto the rockets.
• This process involves ensuring that the payload is securely attached, has the necessary power and communication interfaces, and meets safety and regulatory standards.
• In addition, some launch providers, such as SpaceX, with its Falcon 9 and Falcon Heavy rockets, have introduced reusable rocket technology, which significantly reduced the cost of launching payloads into space.

Top 10 Companies in the Space Launch Vehicle Services Market:

Stratview Research has identified the following companies as the top market players:

• Arianespace SA
• ASTRA
• China Aerospace Science and Technology Corporation
• Firefly Aerospace
• Japan Aerospace Exploration Agency
• Northrop Grumman Corporation
• Rocket Lab, Inc.
• S.P. Korolev Rocket and Space Corporation Energia
• SpaceX
• United Launch Alliance, LLC

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the Aircraft Polymer Seals Market, answering critical questions like

-       How big is the sales opportunity?

-       Which regions offer the best sales opportunities?

-       Which are the most attractive market segments?

-       Which are the top players and their market positioning?

-       How complex is the business environment?

-       What are the factors affecting the market?

For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

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