Current and Future Outlook of Space Launch Services in Aviation Industry

The space launch services market was valued at USD 8.67 Billion in 2016 and is projected to reach USD 27.18 Billion by 2025, at a CAGR of 15.01% during the forecast period. The base year considered for the study is 2016 and the forecast period is from 2017 to 2025.

The space launch services market is projected to grow from USD 8.88 Billion in 2017 to USD 27.18 Billion by 2025, at a CAGR of 15.01% during the forecast period. The increasing adoption of space launch services for satellites and testing probe application is one of the most significant factors driving the growth of the market. Furthermore, the introduction of space tourism is expected to provide lucrative growth opportunities to space launch service providers in the near future.

Based on payload, the satellite segment of the space launch services market is projected to grow at the highest CAGR during the forecast period. The increasing demand for Earth observation and communication satellites is projected to drive the growth of the satellite segment. These satellites are intended for monitoring of the Earth’s surface to obtain valuable information for mapping, mineral exploration, land-use planning, and resource management, among other activities.

Based on orbit, the LEO segment is expected to lead the space launch services market from 2017 to 2025. Most space-related missions are targeted at Low Earth Orbit (LEO). The deployment of small satellites in space and increase in the number of spaceflights to deliver cargo to the International Space Station (ISS) are key factors contributing to the growth of the LEO segment of the services market.

Key players operating in the space launch services market include 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). Leading players have adopted the strategy of contracts to strengthen their position in the market.

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