Space Launch Services Market By Service (Pre-Launch, Post-Launch), By Payload (Satellite, Human Spaceflight, Cargo, Testing Probes), By Launch Platform (Land, Air, Sea), By Orbit (Low Earth, Medium Earth, Geosynchronous, Polar), By Application (Commercial, Government, Military), And Region For 2024-2031
Report ID: 179810|No. of Pages: 202
Space Launch Services Market By Service (Pre-Launch, Post-Launch), By Payload (Satellite, Human Spaceflight, Cargo, Testing Probes), By Launch Platform (Land, Air, Sea), By Orbit (Low Earth, Medium Earth, Geosynchronous, Polar), By Application (Commercial, Government, Military), And Region For 2024-2031
Space Launch Services Market Valuation – 2024-2031
The growing need for satellite deployment, space exploration programs, and improvements in reusable launch vehicle technology are driving the space launch services market. According to the analyst from Verified Market Research, the space launch services market is estimated to reach a valuation of USD 52.15 Billion over the forecast subjugating around USD 16.9 Billion valued in 2023.
The increase in commercial space operations, such as satellite constellations for worldwide internet coverage and increasing investments in space tourism, is driving the space launch services market. It enables the market to grow at a CAGR of 15.07% from 2024 to 2031.
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Space Launch Services Market: Definition/ Overview
Space Launch Services encompass all of the operations and technology required to launch payloads into space, such as satellites, scientific instruments, or spacecraft. These services include vehicle production, mission planning, launch execution, and post-launch support.
Furthermore, space launch services have a wide range of applications, including deploying communication and weather satellites to enable global connectivity and meteorological forecasting, sending scientific missions for space exploration and research, and supporting emerging sectors such as space tourism and asteroid mining. These services are critical to expanding our understanding of space and improving numerous elements of human existence on Earth through enhanced technology and data collection.
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What are the Primary Drivers for the Growth of the Space Launch Services Market?
The growing demand for satellite-based services is propelling the space launch services market. According to the United Nations Office for Outer Space Affairs (UNOOSA), the number of items launched into space has skyrocketed in recent years. In 2020, 1,283 objects were sent into Earth orbit, compared to only 114 in 2010. This huge rise in satellite deployments is driving up the demand for dependable and affordable launch services.
Government and private sector investments in space exploration are driving up demand for space launch services. NASA’s budget request for fiscal year 2022 was $24.8 billion, a more than 6% increase over the prior year. This includes substantial funding for space exploration projects, including $6.88 billion for deep space exploration systems. The increased investment in space research and exploration is opening up new prospects for launch service providers.
Furthermore, demand for dedicated small satellite launch services is increasing as satellites get smaller and more inexpensive. According to the European Space Agency (ESA), as of January 2021, there were over 3,300 active satellites in orbit, many of which were small. SpaceX’s Starlink project intends to launch up to 42,000 small satellites to provide global internet access. The growth of small satellite constellations has considerably expanded the market for space launch services.
What are the Key Challenges facing the Space Launch Services Market?
Launching objects into orbit is prohibitively expensive. The size and complexity of the payload, the chosen launch vehicle and launch provider, and the desired orbital destination all have an impact on the cost. This high cost is a substantial barrier to entry, especially for smaller businesses, universities, and research institutes that want to launch satellites or perform space experiments.
Furthermore, the demand for launch services varies, and there can be periods of low launch vehicle availability, resulting in launch delays for certain payloads. Also, launch dates are frequently restrictive due to intricate launch window requirements and the painstaking nature of launch preparation. This inflexibility is a challenge for businesses or organizations with time-sensitive tasks or short deadlines.
Category-Wise Acumens
How Does Pre-Launch Services Propel the Demand of Space Launch Services Market?
According to VMR Analysis, the pre-launch service segment is estimated to hold the largest market share in the service segment during the forecast period. Pre-launch activities include a variety of crucial tasks that ensure the success of a space mission. These activities include spacecraft assembly, integration, testing, launch vehicle preparation, and launch site operations. Any errors or problems encountered during these pre-launch tasks can result in mission failure, making them extremely complicated and requiring a high level of competence. The specific expertise and infrastructure required for these services are not available to all launch participants, resulting in a demand for professional pre-launch service providers.
Furthermore, pre-launch service companies provide a varied range of services to meet a variety of launch requirements. This covers everything from payload integration and testing to environmental testing and launch vehicle fueling. This comprehensive solution enables launch participants to select only the services they require, rather than investing in creating their in-house skills for all pre-launch operations. Because of their flexibility and access to specialized expertise, pre-launch services are an attractive option for many space launch players.
What are the Drivers that Bolster the Demand for Commercial Space Launch Services?
The commercial segment is estimated to exhibit the highest growth in the space launch services market during the forecast period. The commercial space industry is growing rapidly, due to technological improvements, private investment, and the rise of new space companies. Companies are increasingly using satellites for commercial purposes such as broadband internet access, Earth observation, navigation, and scientific research. This growth in commercial space operations creates a significant demand for launch services to place these satellites in orbit.
Commercial space utilizes are increasingly developing beyond traditional satellite communication. Companies are looking into space for resource extraction, asteroid mining, in-space manufacturing, and even space tourism. These expanding applications demand a wide range of launch services to deploy the appropriate spacecraft and infrastructure, which is fueling commercial market growth.
Furthermore, private launch service providers are continually innovating to lower launch costs and provide more competitive pricing than traditional government launch providers. This cost reduction makes space available to a broader spectrum of commercial entities, accelerating the growth of the commercial launch services market.
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Country/Region-wise Acumens
How is the Demand for Established Industry Leaders in North America Driving the Market?
According to VMR Analyst, North America is estimated to dominate the space launch services market during the forecast period. North America is the leader in the deployment of small satellite constellations. According to the Satellite Industry Association’s 2021 State of the Satellite Industry Report, as of the end of 2020, 1,283 small satellites had been launched worldwide, with the majority coming from North America. SpaceX launched 833 Starlink satellites in 2020. The increase in tiny satellite installations is boosting the demand for frequent and cost-effective launch services in the region.
Furthermore, North America, particularly the United States, provides major government financing for space programs. According to NASA’s Fiscal Year 2022 Budget Request, the agency requested USD 24.8 Billion, up more than 6% over last year. This includes USD 4.5 Billion for space technology R&D. This significant investment stimulates innovation and demand for launch services in the region.
What Factors are Driving the Growth of the Space Launch Services Market in the Europe Region?
Europe region is estimated to exhibit substantial growth within the market during the forecast period. Europe has gradually increased its spending on space programs. According to the European Space Agency (ESA), the entire space budget for Europe in 2021 was €11.7 billion (USD 14.1 Billion), an 8.9% increase over 2020. This enormous investment is stimulating innovation and demand for launch services in the region. The ESA’s budget for 2021 was €6.49 billion, with €1.55 billion dedicated to Earth observation missions, which frequently require launch services.
Furthermore, Europe places a high priority on exploiting space technology for environmental monitoring and climate change research. The Copernicus program, the European Union’s Earth observation program, intends to deploy around 20 new environmental monitoring satellites before 2030. According to the European Commission, the Copernicus program has already created €1.2 billion in benefits for the European economy, which is predicted to increase to €10-20 billion by 2030. This ongoing project is a crucial driver of the space launch services market in Europe.
Competitive Landscape
The space launch services market is characterized by a mix of established aerospace behemoths and innovative private startups, all vying for a piece of the quickly growing market.
Some of the prominent players operating in the space launch services market include:
SpaceX, United Launch Alliance (ULA), Arianespace, Blue Origin, Northrop Grumman Corporation, Roscosmos, Rocket Lab, Mitsubishi Heavy Industries (MHI), Virgin Galactic, China Aerospace Science and Technology Corporation (CASC).
Latest Developments
- In March 2023, Lockheed Martin launched Crescent Space Services, a lunar infrastructure company aimed at connecting Earth and Moon. This attracts clients interested in joining the permanent establishment program in space.
- In February 2023, Rocket Lab USA, Inc. debuted services and space systems, including two high-performance products aimed at boosting the global market for small satellite components.
- In January 2023, Airbus SE announced plans to launch the Zephyr, a high-flying aircraft, in 2024. The aircraft can run a high-altitude, long-endurance system for mobile connection and persistent earth observation. It also meets defense operations requirements.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2020-2031 |
| Growth Rate | CAGR of ~15.07% from 2024 to 2031 |
| Base Year for Valuation | 2023 |
| Historical Period | 2020-2022 |
| Forecast Period | 2024-2031 |
| Quantitative Units | Value in USD Billion |
| Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Players |
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| Customization | Report customization along with purchase available upon request |
Space Launch Services Market, By Category
Service:
- Pre-Launch Services
- Post-Launch Services
Payload:
- Satellite
- Human Spaceflight
- Cargo
- Testing Probes
- Others
Launch Platform:
- Land
- Air
- Sea
Orbit:
- Low Earth Orbit
- Medium Earth Orbit
- Geosynchronous Orbit
- Polar Orbit
Application:
- Commercial
- Government
- Military
Region:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
Research Methodology of Verified Market Research:
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our Sales Team at Verified Market Research.
Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
• In case of any Queries or Customization Requirements please connect with our sales team, who will ensure that your requirements are met.
Frequently Asked Questions
1 INTRODUCTION OF GLOBAL SPACE LAUNCH SERVICES MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL SPACE LAUNCH SERVICES MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL SPACE LAUNCH SERVICES MARKET, BY SERVICE
5.1 Overview
5.2 Pre-Launch Services
5.3 Post-Launch Services
6 GLOBAL SPACE LAUNCH SERVICES MARKET, BY PAYLOAD
6.1 Overview
6.2 Satellite
6.3 Human Spaceflight
6.4 Cargo
6.5 Testing Probes
6.6 Others
7 GLOBAL SPACE LAUNCH SERVICES MARKET, BY LAUNCH PLATFORM
7.1 Overview
7.2 Land
7.3 Air
7.4 Sea
8 GLOBAL SPACE LAUNCH SERVICES MARKET, BY ORBIT
8.1 Overview
8.2 Low Earth Orbit
8.3 Medium Earth Orbit
8.4 Geosynchronous Orbit
8.5 Polar Orbit
10 GLOBAL SPACE LAUNCH SERVICES MARKET, BY APPLICATION
10.1 Overview
10.2 Commercial
10.3 Government
10.4 Military
11 GLOBAL SPACE LAUNCH SERVICES MARKET, BY GEOGRAPHY
11.1 Overview
11.2 North America
11.2.1 U.S.
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 U.K.
11.3.3 France
11.3.4 Rest of Europe
11.4 Asia Pacific
11.4.1 China
11.4.2 Japan
11.4.3 India
11.4.4 Rest of Asia Pacific
11.5 Rest of the World
11.5.1 Latin America
11.5.2 Middle East and Africa
12 GLOBAL SPACE LAUNCH SERVICES MARKET COMPETITIVE LANDSCAPE
12.1 Overview
12.2 Company Market Ranking
12.3 Key Development Strategies
13 COMPANY PROFILES
13.1 SpaceX
13.1.1 Overview
13.1.2 Financial Performance
13.1.3 Product Outlook
13.1.4 Key Developments
13.2 United Launch Alliance (ULA)
13.2.1 Overview
13.2.2 Financial Performance
13.2.3 Product Outlook
13.2.4 Key Developments
13.3 Arianespace
13.3.1 Overview
13.3.2 Financial Performance
13.3.3 Product Outlook
13.3.4 Key Developments
13.4 Blue Origin
13.4.1 Overview
13.4.2 Financial Performance
13.4.3 Product Outlook
13.4.4 Key Developments
13.5 Northrop Grumman Corporation
13.5.1 Overview
13.5.2 Financial Performance
13.5.3 Product Outlook
13.5.4 Key Developments
13.6 Roscosmos
13.6.1 Overview
13.6.2 Financial Performance
13.6.3 Product Outlook
13.6.4 Key Developments
13.7 Rocket Lab
13.7.1 Overview
13.7.2 Financial Performance
13.7.3 Product Outlook
13.7.4 Key Developments
13.8 Mitsubishi Heavy Industries (MHI)
13.8.1 Overview
13.8.2 Financial Performance
13.8.3 Product Outlook
13.8.4 Key Developments
13.9 Virgin Galactic
13.9.1 Overview
13.9.2 Financial Performance
13.9.3 Product Outlook
13.9.4 Key Developments
13.13 China Aerospace Science and Technology Corporation (CASC)
13.13.1 Overview
13.13.2 Financial Performance
13.13.3 Product Outlook
13.13.4 Key Developments
14 KEY DEVELOPMENTS
14.1 Product Launches/Developments
14.2 Mergers and Acquisitions
14.3 Business Expansions
14.4 Partnerships and Collaborations
15 Appendix
15.1 Related Research
Report Research Methodology
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This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
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Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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