Spacesuit Market
Spacesuit Market by Type (IVA suits, EVA suits), by Material, by End-use: Global Opportunity Analysis and Industry Forecast, 2021-2031.
PORTLAND, OR, UNITED STATES, July 25, 2023/EINPresswire.com/ — The global spacesuit market is expected to experience growth due to various factors such as the expansion of space exploration programs, an increase in the budget for the space industry, and advancements in material science.
Allied Market Research published a report, titled, “Spacesuit Market Size by Type (IVA Suits, EVA Suits), by Material (Soft Shell, Hard Shell, Hybrid), by End-use (Spaceflight Mission, Training): Global Opportunity Analysis and Industry Forecast, 2021-2031”. According to the report, the global spacesuit industry generated $0.75 billion in 2021, and is anticipated to generate $1.5 billion by 2031, witnessing a CAGR of 7.3% from 2022 to 2031.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰 – https://www.alliedmarketresearch.com/request-sample/71129
𝐏𝐫𝐢𝐦𝐞 𝐝𝐞𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐧𝐭𝐬 𝐨𝐟 𝐠𝐫𝐨𝐰𝐭𝐡
The global spacesuit market is expected to experience growth due to various factors such as the expansion of space exploration programs, an increase in the budget for the space industry, and advancements in material science. Nevertheless, the market could face challenges from high manufacturing and maintenance costs, as well as a lack of standardization. However, the growth of space tourism presents an excellent opportunity for market players to expand their operations and increase their profits.
𝐂𝐨𝐯𝐢𝐝-𝟏𝟗 𝐒𝐜𝐞𝐧𝐚𝐫𝐢𝐨
– The COVID-19 pandemic created disruptions and delays in the creation, testing, and certification of spacesuits due to travel limitations and safety precautions, which impacted the global spacesuit market negatively. A significant decrease in financing for space initiatives aggravated the scenario even more.
– Worldwide supply networks were also disrupted, making it harder to get raw materials and components for spacesuit production. However, the market has now got back on track.
– The IVA Suits segment to maintain its leadership status throughout the forecast period
Based on type, the IVA suits segment held the highest market share in 2021, accounting for more than four-fifths of the global spacesuit market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is because IVA suits are simpler and less complex than EVA suits, resulting in lower development, maintenance, and operational costs. However, the EVA suits segment is projected to manifest the fastest CAGR of 8.3% from 2022 to 2031, owing to the increased focus of manufacturers and space agencies on the design, development, and launch of new exploration spacesuits and other human surface mobility systems.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 – https://www.alliedmarketresearch.com/spacesuit-market/purchase-options
𝐓𝐡𝐞 𝐇𝐚𝐫𝐝-𝐒𝐡𝐞𝐥𝐥 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝
Based on material, the hard-shell segment held the highest market share in 2021, accounting for more than two-thirds of the global spacesuit market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is due to the fact that they can be operated at high pressures and the hard-shell suits can be completely pressurized with no requirement of pre-breathing. However, the hybrid segment is projected to manifest the fastest CAGR of 8.6% from 2022 to 2031, owing to the growing demand for spacesuits that provide astronauts with both comfort and flexibility during space missions.
𝐓𝐡𝐞 𝐒𝐩𝐚𝐜𝐞𝐟𝐥𝐢𝐠𝐡𝐭 𝐌𝐢𝐬𝐬𝐢𝐨𝐧 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝
Based on end use, the spaceflight mission segment accounted for the largest share in 2021, contributing to around two-thirds of the global spacesuit market revenue, owing to an increase in the requirement for high-performance suits capable of withstanding the severe conditions of spaceflight and assisting astronauts in accomplishing complicated tasks during extravehicular activities (EVAs). However, the training segment is expected to portray the largest CAGR of 8.3% from 2022 to 2031 and is projected to maintain its lead position during the forecast period. This is owing to an increase in focus on astronaut training and the vital function that training spacesuits serve in preparing astronauts for the physical and mental challenges of spaceflight.
𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐛𝐲 𝟐𝟎𝟑𝟏
Based on region, North America held the highest market share in terms of revenue in 2021, accounting for more than half of the global spacesuit market revenue. This is attributed to the fact that private space companies in the region such as SpaceX and Blue Origin are investing in space exploration and building space stations. However, the Asia-Pacific region is expected to witness the fastest CAGR of 9.8% from 2022 to 2031 and is likely to dominate the market during the forecast period, owing to increased engagement in various space projects and space programs, which are expected to accelerate the development of spacesuits.
𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬: –
– DAVID CLARK COMPANY INCORPORATED
– ILC DOVER LP
– OCEANEERING INTERNATIONAL, INC,
– VINYL TECHNOLOGY, INC.
– PARAGON SPACE DEVELOPMENT CORPORATION
– SPACEX
– BOEING
– RAYTHEON TECHNOLOGIES CORPORATION
– PACIFIC SPACEFLIGHT
– SURE SAFETY
𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 – https://www.alliedmarketresearch.com/purchase-enquiry/71129
The report provides a detailed analysis of these key players in the global spacesuit market. These players have adopted different strategies such as new product launches, expansion, contracts, new product development, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Similar Reports We Have on Space Industry:
Astronaut Spacesuit Market Research Report 2023-2035 – https://www.alliedmarketresearch.com/astronaut-spacesuit-market-A10696
Hazmat Suit Market Research Report 2023-2035 – https://www.alliedmarketresearch.com/hazmat-suits-market-A13629
Space Launch Services Market Research Report 2023-2035 – https://www.alliedmarketresearch.com/space-launch-services-market
David Correa
Allied Analytics LLP
1 800-792-5285
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