Jenam 2011The global commercial space payload market size reached USD 32.70 billion in 2021 and is expected to register a revenue CAGR of 5.6% during the forecast period, according to the latest analysis from Emergen Research. Rising number of commercial satellite launches, growing number of space exploration missions and growing demand for satellite data are expected to support the market revenue growth during 2022-2030.
In addition, the rapid advancements in reusable launch vehicle (RLV) technology are expected to further increase the demand for space missions and thus propel the revenue growth of the commercial space payloads market. RLVs can significantly reduce the cost of space missions. Conventional rockets such as Polar Satellite Launch Vehicle (PSLV) and Geosynchronous Satellite Launch Vehicle (GSLV) are burned and discarded when they re-enter the atmosphere after being launched once. RLVs can be reused to launch multiple payloads into Earth orbit, which significantly reduces space debris and thus is expected to accelerate the market revenue growth over the forecast period.
Rising number of commercial satellite launches, increasing number of space exploration missions and growing demand for satellite data are key factors driving the market revenue growth
Rising number of commercial satellite launches is a key factor expected to contribute significantly to the growth of the commercial space payload market. The use of commercial satellites has increased steadily over the decade and is used primarily for civilian and government purposes. Market players provide commercial satellite services to provide rapid response to emergency operations without having to divert other resources. Additionally, commercial satellites can be used more to collect satellite imagery. Furthermore, the increasing number of space exploration missions is further expected to drive the market revenue growth.
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Some highlights of the report
- Revenues from the manned spacecraft segment are expected to increase at a significantly rapid CAGR during the forecast period owing to the growing demand for space tourism and manned space missions
- The Low Earth Orbit (LEO) segment is expected to record a significantly robust revenue growth rate over the forecast period owing to lower launch costs, which is expected to reduce the manufacturing cost of spacecraft, ground equipment and user equipment
- North America is expected to witness a steady revenue growth rate in the commercial space payloads market over the forecast period as compared to other regional markets due to the strong presence of international and domestic companies involved in the manufacture of commercial space payloads, such as Space Exploration Technologies Corporation (SpaceX), Air Products Inc., The Boeing Company, United Launch Alliance, LLC., International Launch Services, Inc., and Blue Origin, LLC, among others in countries of the region.
- Some major companies in the global market report include Space Exploration Technologies Corporation (SpaceX), Spaceflight Industries, Inc., The Boeing Company, United Launch Alliance, LLC., International Launch Services, Inc., Blue Origin, LLC, Mitsubishi Heavy Industries ltd. ., Arianespace SA, China Great Wall Industry Corporation., Antrix Corporation Limited., International Space Company Kosmotras, Orbital Sciences Corporation, Paragon Space Development Corporation and Sierra Nevada Corporation
- In November 2021, Spaceflight Industries, Inc. launched 13 customer payloads into two separate orbits for the first time. After being launched by SpaceX’s Falcon 9 rocket, the Orbital Transfer Vehicles (OTVs) will first place four microsatellites and five CubeSats into solar-synchronous (SSO) orbit, then fly 500 kilometers to deploy the remaining four CubeSats into orbit. different.
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Emergen Research has segmented the global commercial space payload market on the basis of application, payload, orbit, and region:
-
Application Outlook (Revenue, USD Billion; 2019-2030)
- Communication
- Earth observation and remote sensing
- space exploration
- Surveillance and Recognition
-
Payload Outlook (Revenue, USD Billion; 2019-2030)
- Small Satellite
- nano-satellite
- micro-satellite
- mini-satellite
- Mean Satellite
- Large Satellite
- Human spaceship
- Small Satellite
-
Orbit Outlook (Revenue, USD Billion; 2019-2030)
- Low Earth Orbit (LEO)
- Mean Earth Orbit (MEO)
- Geosynchronous orbit
- polar orbit
Regional Outlook: (Revenue, USD Billion; 2018-2028)
North America (United States) (Canada) (Mexico)
Europe (Germany) (UK) (France) (BENELUX) (Rest of Europe)
Asia-Pacific (China) (Japan) (South Korea) (Rest of APAC)
Latin America (Brazil) (Rest of LATAM)
The regional segmentation includes current and forecast estimation of the market in key geographical regions such as North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
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Contents:
Chapter 1 includes an introduction of the global Keyword Market, along with a comprehensive market overview, market scope, product offerings, and a survey of market drivers, growth opportunities, risks, stresses and other vital factors.
Chapter 2 offers an in-depth analysis of key manufacturers engaged in this business vertical along with their sales and revenue estimates.
Chapter 3 details the highly competitive terrain of the market, highlighting the major manufacturers and suppliers.
In Chapter 4, our team has fragmented the Keyword Market on the basis of regions, highlighting the sales, revenue, and market share of each region over the forecast period.
Chapter 5 and 6 have focused on segmenting the Keyword market on the basis of product type and application
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Finally, all aspects of the Commercial Space Payload Market are quantitatively as well qualitatively assessed to study the Global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market based on market drivers, limitations and its future prospects.
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