Rising need for small satellites and demand for satellite data are among some of the key factors driving market revenue growth
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— Emergen Research
VANCOUER, BC, CANADA, April 24, 2023 /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 less expensive to produce and launch into orbit, as well as taking less time overall. It is typical for these satellites to be launched in groups, which reduces the possibility of failure and permits the collection of data from different sites. Also, launch vehicles can transport and place more small satellites in orbit or farther out at once, which is a major element in rising demand for small satellites and is anticipated to fuel revenue growth of the global market in the future.
technological advancements such as the development of reusable launch vehicles and the increasing use of 3D printing and artificial intelligence in space launch operations are expected to create new opportunities for market players. Furthermore, the growing trend of space tourism and the increasing interest in space exploration and research are expected to create significant growth opportunities for the space launch services market in the coming years.
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Key Benefits for Stakeholders:
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.
Some major companies in the global market report include 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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Regional Segmentation:
North America
Latin America
Europe
Middle East & Africa
Asia Pacific
Market Segmentations of the Space Launch Services Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the forecast period. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Space Launch Services Market on the basis of product, application, and region:
Segments Covered in this report are:
Emergen Research has segmented the global space launch services market on the basis of payload, services, orbit, application, platform, and region:
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
Application Outlook (Revenue, USD Billion; 2019–2030)
Commercial
Government
Military
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An Emergen Research report of 250 pages contains 194 tables, 189 charts and graphics, and anyone who needs a comprehensive analysis of the global Space Launch Services Market , as well as commercial, in-depth analyses of the individual segments, will find the study useful. Our recent study allows you to assess the entire regional and global market for In Silico Drug Discovery. In order to increase market share, obtain financial analysis of each segment and the whole market. Look at how you can utilize the current and potential revenue-generating opportunities available in this sector. We believe that there are significant prospects for energy storage technology in this industry due to the rapid expansion of the technology. In addition to helping you build growth strategies, improve competitor analysis, and increase business productivity, the research will also assist you in making better strategic decisions.
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In conclusion, the space launch services market presents significant growth opportunities for market players, driven by the increasing demand for satellite launches and the growth of commercial space activities. The market is expected to witness intense competition among players, as they focus on improving launch efficiency and expanding their market reach.
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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