The space launch services market is estimated at $16.9 billion in 2022 and is projected to reach $29.6 billion by 2027, at a CAGR of 15.1% from 2022 to 2027.

CHICAGO, ILLINOIS, UNITED STATES, July 13, 2023/EINPresswire.com/ -- The Space Launch Services Market by Payload (Satellite, Human Spacecraft, Cargo, and Space Probes), Service Type, End User(Commercial, Military and Government), Orbit, Launch Vehicle, Launch type and Region - Global Forecast to 2027”, The space launch services market size is projected to reach USD 29.6 billion by 2027, at a CAGR of 15.1% during the forecast period.

The growth of Space Launch Services Industry can be attributed to the increasing demand for payload launches from various end users, including commercial and government sectors, military organizations, space agencies, defense organizations, satellite operators, and private companies.

Space launch services Market Segment Overview
Military and Government segment of the Space Launch Services Market by End user, to grow at highest CAGR during the forecast period
The Military and Government segment is projected to be USD 24,139 million by 2027, at a higher CAGR of 15.1% during the forecast period. The trend of miniaturization of technologies and increasing capabilities of small satellites propel the demand for space launch services.

Small lift launch segment to command the Space Launch Services Market by launch vehicle, during the forecast period
The small lift launch vehicles (<350,000 KG) segment is expected to reach USD 19,672 million by 2027 at a CAGR of 14.6% from 2022 to 2027. The small lift launch vehicles segment is witnessing high growth, owing to an increase in deployment of small satellites and cube satellites for commercial end users and increasing demand for small satellite constellations.

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The North American market is projected to contribute the largest share from 2022 to 2027
Launcher recoverability technology refers to the utilization of the partial recoverable lower stages of the launch vehicle and is developing further.

The technology is in the design, development, and testing stage, and after overcoming reliability issues, it is expected to increase launcher reliability and reduce launch costs in the long term. The recovered hardware parts of launch vehicles can be damaged while falling back into the sea and are required to be rectified before the launch vehicle can be used again. Also, the hardware to be reused needs to undergo stricter quality control measures compared to conventional disposable launcher systems.

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Top 5 Key Players in Space launch services Companies
• Space X (US),
• Arianespace (France),
• Northrop Grumman Corp. (US),
• United Launch Alliance (US),
• Rocket Lab (US) and
• China Aerospace Science and Technology Corporation (China)

Browse in-depth TOC on "Space Launch Services Market, Trends, Growth Drivers"
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Space Launch Services Companies - Space X (US) and Arianespace (France) are the Key Players
Arianespace (France): Arianespace provides launch services for all types of satellites to place them in different orbits. It has placed more than 550 satellites in orbits, using its family of three space launchers, Ariane 5, Ariane 6, and Soyuz, from launch sites in French Guiana (South America) and Baikonur (Kazakhstan). The company has a diverse portfolio of launch vehicles, which include the heavy-lift Ariane 5 for dual launches to geostationary transfer orbit, the Soyuz-2, which is used as a medium-lift alternative launch vehicle, and the solid-fueled Vega for light payloads. The company has its presence in France, US, Japan, and Singapore.

China Aerospace Science and Technology Corporation (China): China Aerospace Corporation (CASC) engages in the development, design, production, and launch of space systems, including launchers, satellites, manned spacecraft, strategic and tactical missiles, and worldwide commercial satellite launch services. It is building a new aerospace industrial system in 2022 to expedite the development of its companies, which will span space systems, military systems, aerospace technology applications, and aerospace services. It has worked to foster collaboration and communication, committed itself to innovation, experienced pioneering growth, and established itself as a leading international aerospace enterprise group, adding new insights to the process of national modernization and the peaceful exploration of space.

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