The space launch services market is estimated to be USD 8.88 Billion in 2017 and is projected to reach USD 27.18 Billion by 2025, at a CAGR of 15.01% during the forecast period. The increase in demand for small satellites, rise in space exploration activities, and technological advancements to develop low-cost launch vehicles are key factors driving the growth of the space launch services market.
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Based on service type, the pre-launch segment is expected to lead the space launch services market from 2017 to 2025. The growth of the pre-launch services segment can be attributed to an increase in the number of launch service providers and reduction in the price of launch and integration services that include flight hardware support and mission management. In addition, technological advances in space systems have led to expanding the capabilities of payloads, thereby contributing to the growth of the pre-launch services segment of this market.
Based on payload, the satellite segment of the space launch services market is expected to grow at the highest CAGR from 2017 to 2025. The increased demand for Earth observation and communication satellites has led to the growth of the satellite segment. These satellites are intended for monitoring the Earth’s surface to obtain valuable information for mapping, mineral exploration, land-use planning, and resource management, among other activities.
Based on launch vehicle size, the small lift launch vehicles segment is projected to lead the space launch services market from 2017 to 2025. The increasing deployment of small satellites for commercial and military applications and rising investments for the development of small launch vehicles are factors contributing to the growth of the small lift launch vehicles segment of the space launch services market.
North America is estimated to lead the space launch services market in 2017. The increasing demand for launch services for satellites, human spacecraft, and space probes is projected to drive the growth of the space launch services market in North America. In addition, increased investments in space probe missions are further contributing to the growth of the space launch services market in this region.
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Antrix Corporation (India), Arianespace (France), Boeing (US), China Great Wall Industry Corporation (China), EUROCKOT (Germany), ILS International (US), Lockheed Martin (US), Mitsubishi Heavy Industries (Japan), Orbital ATK (US), Space Exploration Technologies (US), Space International Services (Russia), Spaceflight (US), Starsem (France) and United Launch Alliance (US) are key players operating in the space launch services market.
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