Space Launch Services Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, France, Spain, Italy, Russia, Poland, China, India, Japan, Australia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2019 - 2025
Report ID: GMI2313
Space Launch Services Market size will experience surge in demand owing to increasing satellite launches across the globe. Surge in demand for satellite launches for educational, commercial and military application will drive the industry during forecast period.
Increasing importance of satellites for planetary science, space exploration, geo information, telecommunication and socio-economic development encourage the investment is satellite technology across the globe. Developing nation’s increasing interest in interplanetary technology fuels the space launch services market.
Increasing orbital launch attempts globally support the industry growth. In 2016, total of 85 orbital attempts are made with the U.S. and China contributing 22 attempts each. High success rate of launches owing to technical accuracy will encourage more attempts during the forecast period.
Substantial government capital investment in space technology supports the industry growth. Some of the major investments include more than USD 3 billion for European Space Agency (ESA) launch vehicle Ariane 6 by industrial and government sources. The product is expected to be launched by 2020. In January 2015, Fidelity investments & Google invested USD 1 billion in SpaceX.
Technological advancements in planetary and interplanetary satellite carrier will improve the service quality thereby supporting industry growth. For instance, SpaceX developing ITS and Falcon Heavy launch vehicles, United launch alliance (ULA) in partnership with Blue Origin is developing BE-4 LOX/methane engine for first stage booster rocket. New technology vehicles are expected to increase the success rate and accuracy of space launch services market.
However, lack of dedicated carriers for small satellites and limited measures for orbital debris disposal will limit the revenue recognition during the forecast period.
Focused efforts for overall cost reduction of satellite and technological advancements increase growth prospects for industry for upcoming years.
Complying with regulatory norms and limited intellectual resources pose challenge for industry growth. Space launch services market requires highly qualified and well-trained resources for high success rate. Service providers lacking skilled human resource may hamper the industry growth.
Based on service type, industry is classified as pre-launch and post launch services. Pre-launch service holds major share and will continue its dominance owing to increasing service providers and reduction in price of integration & services.
Based on payload, space launch services market is categorized in to satellite, human spacecraft, testing probes, cargo and stratollite. Satellite segment will observe high growth rate owing to increasing need for earth monitoring to obtain accurate & relevant information for mineral exploration, mapping, resource management and land use planning.
Based on orbit, low earth orbit (LEO) segment is expected to dominate the total market due to increasing spaceflights for cargo delivery to international space stations. Other segments include medium earth orbit (MEO), higher altitude orbits (HEO), geostationary earth orbit (GEO) and beyond GEO. Increasing demand for higher capacity vehicles will support the GEO segment growth.
By end user segment, it is divided into commercial and government & military. Government & military segment growth is attributed to increasing investment in orbital probe missions by military and facilitating better educational, surveillance, information collection and precision navigation by government sector.
North America is expected to witness significant growth during the forecast timeframe owing to strong presence of manufacturers in the region focusing on the business expansion. Moreover, presence of end-user industries dealing in aerospace and defense such as Boeing will further support the Space Launcher market demand.
Asia Pacific space launch services market is driven by governments are spending on satellite technology and exploration program. Countries such as China & India strengthening their military and defense system will boost the industry revenue during forecast time frame. In 2016, China premiered 2 new rockets supporting its future line of orbital satellite carriers. China’s long march series of rocket accounted for quarter of orbital launches in 2016. High investment and continuous technology development in region drive the industry demand in Asia Pacific.
Space launch services market participants include Antrix Corporation, Arianespace, China Aerospace Science and Technology Corporation, Eurockot Launch Services, ILS, ISC Kosmotras, Mitsubishi Heavy Industries, Orbital, ATK, SpaceX, Starsem, ULA. High investment from private sector supported by long term government development programs will boost industry revenue. Increasing interest from private sector will increase the industry competition during the forecast period.
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