Spacecraft Market Size, By Type (Manned and Unmanned Spacecraft), By Components (Propulsion System, Power System, Communication System, Thermal Control System, Guidance and Navigation System, and Payloads), By End-Use Industry (Commercial, Military and Defense), and Regional Forecast, 2024-2032

The spacecraft market refers to the industry involved in designing, manufacturing, launching and operating spacecraft for various purpose, including scientific research, commercial applications, and military operations. This market includes a variety of players, such as government agencies, private companies, and nonprofit organizations. The spacecraft market is diverse, with application ranging from earth observation and telecommunication to planetary explorations and space tourism. The market is also expanding rapidly, driven by advance in technology, increasing demand for space based services and the emergence of new player in the industry.

Impact of COVID -19 on Spacecraft market

Production of Spacecraft will be more adaptable after COVID-19. The supply chain disruption brought on by the shutdown, however is expected to have an impact on the companies’ potential future growth. Additionally, businesses are losing a lot of money because of the continuous pandemic, which cause considerable losses throughout the year. Therefore, businesses must operate on high margin basis in order to revive the market. Additionally, the revenue creation of the spacecraft corporation has significantly decreased as a result of the lockdown.

Segmentation

For a Spacecraft to move and move through space, a propulsion system is necessary. There are various propulsion system kinds, including chemical, electrical, and nuclear. Power Systems are in charge of supplying energy to the spacecraft for a variety of purpose, including communication, research, and navigate. The ability of a spacecraft to transmit data and receive instruction from the planet depends on its communication systems. The temperature of spacecraft is controlled by thermal control system in the hostile environment of space. Spacecraft require guidance and manage their trajectory across space. Instruments or equipment carried by spacecraft for a variety of uses, including scientific research, earth observation, and military applications are referred to a payload.

Key Insights

• The spacecraft market is projected to experience significant growth in the coming years.


• Several factors are driving the growth of the spacecraft market. One of the main drivers is the increasing demand for the earth observation growth.


• Competitive Landscape: The Space craft market is highly competitive, with several major players dominating the market.


• This study presents the analytical depiction of the global Spacecraft industry along with the current trends and future estimations to determine the imminent investment pockets.


• The current market is quantitatively analyzed to highlight the global Spacecraft market growth scenario.

Regional Analysis

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It is predicted that the Asia Pacific would account for the largest portion of the worldwide spacecraft market. It is mostly caused by rising space investment from developing nations like China, India, Japan, and South Korea. In order to catchup with the U.S., China is also making significant investments in space technology. Earth observation, Satellite communication, and Satellite Manufacturing are areas in which the Chinese Government and private businesses are heavily investing. Many military and commercial satellite have been developed and launched as a result of these substantial investment. China thereby surpassed the U.S. to become the second largest nation in terms of the number of operational satellite in Orbit.

Key Players Covered

The report includes the profiles of key players such as Lockheed Martin, The Boeing, Airbus, SpaceX, Thales Group, Northrop Group, QinetiQ Group, and Millennium Space Systems.

Segmentation

Key Industry Developments

• In April 2021, SpaceX Launches 60 more Starlink Satellite, bringing the total number of satellites launched in one month to 300. In order to meet the company’s target of launching 1500 starlink Satellite by 2021, these satellite have been introduced.


• In March 2021, Airbus was chosen by the European Commission to conduct research on the advancement of space mission under the Horizon 2020 plan. This is a Step towards the eventual construction of substantial orbit structures. The Design, construction, and use of Space system will alter as a result of direct production in orbit.