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The global space launch services market size touched USD 8.07 billion in 2022 and is anticipated to be valued at USD 9.15 billion in 2023. The market share is predicted to reach USD 20.54 billion by 2030, recording a CAGR of 12.2% over 2023-2030.
Fortune Business Insights™ presents this information in its latest report titled “Space Launch Services Market Size, Share & COVID-19 Impact Analysis, By Orbit Type (LEO, MEO, GEO, and Others), By Launch Vehicle (Small Lift Launch Vehicle, Medium Lift Launch Vehicle, and Heavy Lift Launch Vehicle), By Payload (Satellite, Cargo, Human Spacecraft, and Testing Probes), and Regional Forecast, 2023-2030”.
Space launch services help end-users launch satellites, cargo, humans, and other payload to the earth’s orbit for space exploration activities. This market consists of many public and private companies that offer these services at different costs. There is a considerable growth in the number of modernization contracts between the National Aeronautics and Space Administration (NASA) and other leading organizations to modernize rockets and their equipment.
The NASA Launch Services Program (LSP) is also responsible for procuring space launch solutions for NASA's unmanned missions, overseeing launch integration & readiness activities, and offering additional quality & mission assurance to achieve the program's goals. The LSP operates under the NASA Space Operations Mission Directorate (SOMD). The high demand for space exploration programs is projected to expand the space launch services market share during the forecast period.
COVID-19 Pandemic Strained Supply Chain System and Decreased Demand for Space Launch Solutions
The COVID-19 outbreak adversely impacted the space industry, especially in areas such as satellite launches, launch vehicles, manned spacecraft, and post-launch services. Some of the prominent players reduced their daily operations, which changed the market landscape for new launches considerably.
In 2022, a severe dearth of microchips and other vital electronic components compelled operators to cancel the Defense Advanced Research Projects Agency's Blackjack mission. This mission aimed to test a new military communications network in the low earth orbit. During the first quarter of 2020, many reputed companies, such as Rocket Labs, stopped shipping their products. Similarly, the United Launch Alliance (ULA) proposed to delay the launch until 2022. These delays hampered the space launch vehicles market growth.
UAE and Russia to Sign Agreement to Promote Peaceful Space Operations and Boost Bilateral Ties
In October 2021, governments of the UAE and Russia inked a deal to promote the use of outer space for peaceful missions and fortify ties between the two countries. The agreement was signed during the 72nd International Space Congress (IAC) held in Dubai.
Rising Focus on Adoption of Innovative Launch Vehicles to Boost Market Growth
Technological innovations are gaining significant popularity in the global market. Many companies and research institutes are launching innovative products to meet industry needs and expand their presence in the space launch services field.
The market’s leading companies are also focusing on developing futuristic and reusable launch vehicles to reduce the overall cost and enhance usability of the rocket. For example, in July 2022, Ariane Group announced plans to develop a reusable space rocket financed by the European Commission (EC) through the Horizon Europe program. Advancements in spin launch and Starship might further decrease the per-kg launch cost and boost the global space launch services market growth.
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Increase in Joint Ventures by Key Players to Boost the Market Growth
The global market has a notable presence of reputed companies such as Antrix Corporation Limited, United Launch Alliance, Ariane Group, SpaceX, and Roscosmos. Per-kg launch cost is a vital aspect in this market as these firms are trying to gain competitive edge over their rivals. Other factors, such as technological innovations and partnerships, will help these market players reduce overall cost and acquire more ride share missions.
Notable Industry Development:
List of the Companies Profiled in the Report:
Further Report Findings
Table of Segmentation
CAGR of 12.2% from 2023 to 2030
Value (USD Billion)
By Orbit Type, Launch Vehicle, Payload, and Region
By Orbit Type
By Launch Vehicle