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The global space launch services market stood at a value of around USD 19.32 billion in 2023. The market is further expected to grow at a CAGR of 15.3% in the forecast period of 2024-2032 to attain a value of USD 69.74 billion by 2032.
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Based on payload, the satellite segment is predicted to hold a significant market share in the space launch services industry. This growth can be attributed to the increased capital expenditure on satellite launching to enable radio wave communication and GPS navigating facilities. Meanwhile, the demand for human spacecraft for space exploration is also witnessing an increased demand, which is projected to aid the market growth in the coming years. These factors are expected to contribute to the overall market growth in the forecast period.
North America is estimated to hold a significant share of the space launch services industry in the forecast period. This growth can be attributed to the presence of the leading market players in the region, who are making significant investments in terms of assembly and launching process. In addition, the steadily increasing efforts to further the development of human spacecraft and space probes are also predicted to propel the market growth. For instance, NASA approved SpaceX crew mission for launch on the 31st of October . Such developments are predicted to propel the market growth in the forecast period.
Space launch services are provided by companies that specialise in launching spacecrafts. These companies construct, assemble, and launch spacecraft that serve different purposes. Mostly, spacecraft are deployed for space exploration and satellite launching purposes by the military and government agencies. However, recently the trends of space tourism are also inviting further interest in space launch services.
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By payload, the market is divided into:
Among these, the satellite segment is further divided based on type into small satellite (less than 1000 kg) and large satellite (above 1000 kg).
On the basis of launch platform, the market can be segmented into:
Based on service type, the industry can be bifurcated into:
On the basis of launch vehicle, the market can be distributed into:
Based on end user, the market can be categorised into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The rising capital expenditures by the government to support space programmes across the countries are anticipated to propel the market growth in the forecast period. This can be attributed to the development of digital satellite connectivity infrastructure and the growing military activities. In addition, the rising interest in space exploration among the private enterprises is also anticipated to bolster the market growth in the coming years. Moreover, the increasing trend of space tourism is also predicted to augment the industry growth. For instance, in September 2021, SpaceX successfully came back into the earth’s orbit, completing a 3-day mission with no professional astronauts on board. These factors are estimated to positively impact the market growth in the forecast period.
The report gives a detailed analysis of the following key players in the global space launch services market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Payload |
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Breakup by Launch Platform |
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Breakup by Service Type |
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Breakup by Launch Vehicle |
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Breakup by End User |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global space launch services market attained a value of nearly USD 19.32 billion.
The market is projected to grow at a CAGR of 15.3% between 2024 and 2032.
The major market drivers are the increasing satellite launching activities, surging demand for human spacecraft, rising interest in space exploration, and increasing trend of space tourism.
The key trends guiding the market include technological advancements and innovations, the development of digital satellite connectivity infrastructure, and increasing government expenditure on space exploration.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major segments based on payloads of space launch services considered in the market report are satellite, human spacecraft, cargo, testing probes, and stratollite.
The significant launch platforms considered in the market report are land, air, and sea.
Pre-launch and post-launch are the various service types included in the market report.
The different launch vehicles considered in the market report include small launch vehicle and heavy launch vehicle.
The major end users of space launch services are commercial and government and military.
The major players in the market are Airbus SE, Antrix Corporation Limited, Space Exploration Technologies Corp. (SpaceX), Lockheed Martin Corporation, and The Boeing Company, among others.
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