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.
However, international laws have restricted scope of higher investment from private firms by limiting ownership of properties in celestial bodies in outer space and thus restraining growth of market significantly. Another key factor hampering growth of global commercial space payload market is rise in space debris in lower earth orbit, which might cause accidents.
The new report titled ‘Global Commercial Space Payload Market’, published by Emergen Research, is methodically curated by our team of analysts, keeping readers’ understanding in mind, and includes a wide-ranging database of industry distribution. The report takes a closer look at the historical and current market scenarios to accurately predict the global Commercial Space Payload Market outlook over the forecast duration (2019-2030). Researchers have taken a holistic approach towards the global market analysis and highlighted the factors that influence the overall growth of the market.
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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
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)
Communication
Earth Observation and Remote Sensing
Space Exploration
Surveillance and Reconnaissance
Payload Outlook (Revenue, USD Billion; 2019–2030)
Small Satellite
Nanosatellite
Microsatellite
Minisatellite
Medium Satellite
Large Satellite
Human Spacecraft
Orbit Outlook (Revenue, USD Billion; 2019–2030)
Low Earth Orbit (LEO)
Medium Earth Orbit (MEO)
Geosynchronous Orbit
Polar Orbit
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Global Commercial Space Payload Market Geographical Landscape - Synopsis:
The report closely studies the growth trajectory of the global Commercial Space Payload market. It brings to light the global dominance of the leading regional segments, including North America, Asia Pacific, Europe, Latin America, and the Middle East Africa.
The study elaborates on the crucial information pertaining to the regional market share. It simultaneously focuses on the significant details about the growth patterns of each regional market.
Moreover, the report encases an exhaustive geographical study of the market, emphasizing the business growth prospects and market barriers for each of the key market regions.
Market Taxonomy:
Chapter 1: Methodology Scope
Definition and forecast parameters
Methodology and forecast parameters
Data Sources
Chapter 2:
Executive Summary
Business trends
Regional trends
Product trends
End-use trends
Chapter 3:
Industry Insights
Industry segmentation
Industry landscape
Vendor matrix
Technological and innovation landscape
Chapter 4:
Regional Landscape
Chapter 5:
Company Profile
Business Overview
Financial Data
Product Landscape
Strategic Outlook
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