Space Technologies

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Space Technologies

A mini-analysis of five sub-industries in the space technology industry has been completed. The sub-industries identified are as follows: space launch services market, space equipment market, small satellite market, space robotics market, and the rocket propulsion market. For each, we have provided the market size, market growth, and a list of key players within the market. These findings have been presented below:

Space Launch Services Market (Global)

  • Description: "The space launch services market is associated with the activities carried out by space launch service providers. It consists of a series of events such as ordering, conversion, construction, stacking and assembly, integration of payload, and launch."
  • Market Size: $11.36 billion as of 2018. Projected to be $31.35 billion by 2026. A separate report states that the market was valued at $9.88 billion as of 2019 and is projected to reach $32.41 billion by 2027.
  • Market Growth: 13.76% CAGR between 2020 and 2026. A separate report puts the growth rate at 15.7% CAGR through the same time period.
  • Key Players: Arianespace, Space Exploration Technologies Corp (Space X), China Great Wall Industry Corporation, Antrix Corporation Limited, Mitsubishi Heavy Industries, Spaceflight Industries, Lockheed Martin Corporation, Space International Services, Blue Origin Enterprises, Northrop Grumman Systems Corporation. A separate report also includes State Space Corporation (ROSCOSMOS), Rocket Lab USA, S7 Space (Sea Launch), and Starsem.

Space Equipment Market (Global)

  • Description: Space equipment includes a wide range of technologically advanced tools, including spectrometers, radiometers, telescopic cameras, launch vehicles, materials, satellites, space defense technologies and various other related items.
  • Market Size: Projected to be $496.7 billion by 2027 (global). In 2020, the U.S. market was valued at $108.7 billion. China's market is projected to be valued at $87.6 billion by 2027.
  • Market Growth: 4.3% CAGR between 2020 and 2027. The market in China is expected to grow at a rate of 4% CAGR, while Japan is at 4.3%, Canada is at 3.3%, and Germany is at 3.5% (through 2027).
  • Key Players: AAR CORP, Airbus Group, Applied Radar, Arianespace, BAE Systems, Ball Aerospace, Bombardier, Dassault Aviation, DigitalGlobe, Honeywell International, Israel Aerospace Industries, Lockheed Martin Corporation, Northrop Grumman Corporation, RUAG Holding, Safran, Space Exploration Technologies Corp (Space X), and The Boeing Company.

Small Satellite Market (Global)

  • Description: Small satellites are those with a mass below 500 kg.
  • Market Size: In 2020, the market was valued at $2.8 billion. It is projected to reach $7.1 billion by 2025. A separate report notes that the market size was $3.63 billion in 2018 and is projected to reach $15.7 billion by 2026.
  • Market Growth: The market is expected to grow at a rate of 20.5% CAGR between 2020 and 2025. A separate report corroborates a similar growth rate, at 20.1% between 2018 and 2026.
  • Key Players: Sierra Nevada Corporation, L3 Harris Technologies, Lockheed Martin Corporation, Northrop Grumman Corporation, Airbus Defense and Space. A separate report also notes the following key players: The Aerospace Corporation, Planet Labs Inc., Boeing, Thales Group, GomSpace, and Blue Canyon Technologies.

Space Robotics (Global)

  • Description: "Space robotics is the development of general-purpose machines that are capable of surviving the harsh environment in space and performing exploration, assembly, maintenance, and services, among other tasks."
  • Market Size: Space robotics is projected to have a market size of $5.24 billion by 2025. A separate report notes that the market size was valued at $2.4 billion in 2019.
  • Market Growth: This market is anticipated to grow at a rate of 8.6% CAGR between 2019 and 2025. A separate report corporate a similar growth rate, at 7.69% CAGR between 2020 and 2026.
  • Key Players: Altius Space Machines, Astrobotic Technology, Effective Space Solutions, Honeybee Robotics, Ispace, Maxar Technologies, Metecs, Motiv Space Systems, Northrop Grumman Corporation, and Olis Robotics. A separate report also includes Effective Space Solutions Limited and Made In Space.

Rocket Propulsion (Global)

  • Description: "Rocket propulsion is the process that uses force to move a rocket off the ground and into the atmosphere."
  • Market Size: Projected to be $6 billion by 2027. A separate report notes that the market was worth $3.35 billion in 2017 and is projected to be $6.36 billion by 2023.
  • Market Growth: Projected to grow at a rate of 8% CAGR between 2020 and 2027. A separate report corroborates a similar growth figure, at 8.5% CAGR between 2018 and 2023.
  • Key Players: Lockheed Martin, Safran, NPO Energomash, NASA, Northrop Grumman, SpaceX, Virgin Galactic, and Blue Origin. A separate report also includes Aerojet Rocketdyne, Orbital ATK, Antrix, and Mitsubishi Heavy Industries.
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Sources