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 latest analysis by Emergen Research. Increasing number of commercial satellite launches, rising number of space exploration missions, and rising demand for satellite data are expected to support market revenue growth during 2022-2030.
In addition, rapid advancements in Reusable Launch Vehicle (RLV) technology are further expected to increase demand for space missions and thereby propel revenue growth of commercial space payload market. RLVs can significantly reduce cost of space missions. Conventional rockets such as Polar Satellite Launch Vehicle (PSLV) and Geosynchronous Satellite Launch Vehicle (GSLV) are burned out and discarded when it re-enters the atmosphere after being launched once. RLVs can be reused to launch multiple payloads into Earth\’s orbit, significantly reducing space debris, and thereby is expected to accelerate revenue growth of market during the forecast period.
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Increasing number of commercial satellite launches is a key driving factor expected to contribute to growth of commercial space payload market significantly. The use of commercial satellites has risen steadily over the decade and is mostly used for civil and government purposes. Market players are providing commercial satellite services to provide rapid response to contingency operations without having to divert other resources. In addition, commercial satellites can be further used for gathering satellite imagery. In addition, rising number of space exploration missions is further expected to drive revenue growth of market.
The report projects the market is anticipated to grow at a significant rate owing to rapid advancements and technological developments in the sector. The report offers strategic recommendations to businesses and investors to capitalize on the lucrative growth opportunities. The report further provides a comprehensive analysis of the competitive landscape and provides complete coverage with regard to company profiles, product portfolio, revenue generation, financial standing, and market position. It also covers mergers and acquisitions, joint ventures, product launches, brand promotions, collaborations, agreements, and partnerships, among others.
Companies profiled in the global Commercial Space Payload market:
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 S.A., China Great Wall Industry Corporation., Antrix Corporation Limited., International Space Company Kosmotras, Orbital Sciences Corporation, Paragon Space Development Corporation, and Sierra Nevada Corporation
The report also covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.
Emergen Research has segmented global commercial space payload market on the basis of application, payload, orbit, and region:
Application Outlook (Revenue, USD Billion; 2019–2030)
Earth Observation and Remote Sensing
Surveillance and Reconnaissance
Payload Outlook (Revenue, USD Billion; 2019–2030)
Orbit Outlook (Revenue, USD Billion; 2019–2030)
Low Earth Orbit (LEO)
Medium Earth Orbit (MEO)
The report further examines the market in the key regions of the world with regard to production and consumption patterns, import/export, supply and demand ratio, revenue generation, market share and size, and presence of prominent players in the regions. The report also covers the expansion plans undertaken by companies in the regions under the regional analysis section.
Key regions in the market include:
Rest of EU
Rest of APAC
Rest of Latin America
Middle East & Africa
Rest of MEA
Key Features of the Commercial Space Payload Market Report:
The report offers details about key drivers, restraints, opportunities, challenges, growth prospects, limitations, and threats
The report encompasses details about the key companies, product portfolio along with specifications, production valuation, and market shares
Evaluation of key current and emerging market trends and growth prospects
It also offers research-backed estimations for the forecast period of eight years, primarily to estimate the potential market growth
Brief overview of industry with regards to research and development, technological advancements, and product development
In-depth assessment of upstream raw materials, downstream buyers, demands, and current market scenario
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