Visiongain has published a new report on Space Launch Services Market Report: Forecasts by Payload Type (Satellite, Human Spacecraft, Cargo Payload, Testing Probes, Stratollite Payload), End-user (Government & Military Sector, Commercial Sector), Service Type (Pre-launch Service, Post-launch Service), Launch Vehicle Type (Small Launch Vehicle, Heavy Launch Vehicle). Plus Profiles of Leading Space Manufacturing Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
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The US is ahead of the global space launch services in terms of end user approaching the space research organizations for satellite payload launches. Many US companies, equipment suppliers are concentrated in North America which allows for low shipping costs and thus lower unit prices and also ensures a high level of awareness.
Considering the pattern of industry in the space launch services market, Visiongain has studied the market based on Launch vehicle type based on small vehicle and heavy vehicle segments. Small vehicle segment remains the highest revenue generating segment in the launch vehicle category by growing at a CAGR of 15.4% during the forecast period to reach more than $26 billion by 2030. Companies have been developing technologies to provide small launch vehicle services to the space. In March 2020, SpaceX successfully launched an un-crewed Dragon spacecraft for NASA. The spacecraft was able to supply supplies toward the International Space Station (ISS) — and sticking another rocket landing.
Human spacecraft design and development demands extended human activities beyond low Earth orbit. This leads to a significant technology investment to enable humans to travel throughout the solar system, arriving and working effectively at specific extraterrestrial destinations, and return safely.
COVID-19 Impact on Space Launch Services Market
Covid-19 pandemic have had a huge impact on the global supply chain which has affected the global space launch services and satellite launching facilities. Considering the situation, space launch service providers, and space research organizations are looking to fast-track plans for agile processes and supply chains as they prepare for a volatile demand environment after the Covid-19 global pandemic. Supply chains work on schedules decided well in advance on the basis of demand projections. However, space service providers are now looking to redesign these systems to cater to an unpredictable demand environment.
Growth in Government Spending in Space Exploration Activities
Government organizations globally have increased their expenditures to run different space programs in leading countries to explore space operations. Space economy has been extended to 36,000 kilo-meters from the surface of the Earth with the help of array of critical technologies which includes satellite communications, global positioning satellites, and imaging satellites. Space exploration attracts interest of an increasing number of governments, private sector; start-ups and large enterprises to exploit the commercial potential of exploration activities.
Increasing Small Satellite Deployment Increases Space Launch Service Demand
Small satellites are an emerging class of spacecraft, which incorporate recent components including software and hardware derived from the core IT and electronics industries to benefit from the resulting high capability feasible in small packages. Organizations, both including government and commercial are shift in their attention from traditional satellites systems to small satellites as they have shorter development cycles, smaller development teams, and require lower development and launch cost. These lower-cost satellites simultaneous deployment in large numbers enable distributed data collection, experimentation, which helps in new application developments such as communication, remote sensing, technology demonstration, and science and exploration. In addition, increasing demand for LEO-based services, such as space-based communication, imagery-based intelligence, and situational awareness (SA) further drives the adoption of cost-effective small satellite adoption thereby leading to increased demand for space launch services.
Untapped Developing Markets
The North American market offers numerous growth opportunities to key players providing space launch services in the government and commercial markets. The demand for small vehicles has increased in this region in the past with the uptick in heavy vehicles in near future. Therefore, space launch service providers have focused on expanding their portfolio towards space carriers to increase their service base and improve their outreach. By introducing new launch vehicles and providing space launch services right from contract signing, space launch service providers are succeeding to attract new customers and overcome challenges. Developing regions such as India, China and other APAC and LAMEA countries pose opportunities to establish their launch base and serve the rising demand for innovation in space launch.
some of the companies profiled in the report includes Starsem, Antrix Corporation, Arianespace, Eurockot, ILS, Orbital ATK, Lockheed Martin Corporation, ISC Kosmotras, ULA and Blue Origin. The companies have performed various strategic moves and initiatives to uptick in the overall market. For instance, in July 2020, Blue Origin delivered BE-4 rocket engine to ULA to be used in Vulcan Centaur rocket tests. The BE-4 uses liquid oxygen and liquefied natural gas propellants to generate 75,000 horsepower. In June 2020, Lockheed Martin partnered with Saudi Technology Development and Investment Company (TAQNIA) to develop and deploy new ground segment for the secure and commercial operations of commercial communications satellite, SaudiGeoSat-1 (SGS-1). The newly developed system will also be used to integrate current and future Air and Missile defense systems in an effort to add enhanced security.
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