Space Exploration Market
Space Exploration Market Forecasts to 2030 - Global Analysis By Mission Type (Human Spaceflight and Robotic Spaceflight), Component, Orbit, Technology, Application, End User and By Geography
According to Stratistics MRC, the Global Space Exploration Market is accounted for $679.0 billion in 2024 and is expected to reach $1851.7 billion by 2030 growing at a CAGR of 18.2% during the forecast period. Space exploration includes the investigation of outer space through the use of crewed and uncrewed spacecraft. This endeavour aims to enhance our understanding of the universe, including celestial bodies, phenomena, and the fundamental laws of physics. Historically, space exploration began with the launch of artificial satellites and has evolved to include human spaceflight, robotic missions to planets, and the study of asteroids and comets. The motivations for space exploration are diverse, encompassing scientific discovery, technological advancement, and the potential for resource utilization.
Market Dynamics:
Driver:
Innovations in propulsion systems and satellite technologies
Advanced propulsion systems, such as electric and nuclear propulsion, enable spacecraft to travel longer distances, reach deeper space, and reduce travel time. These technologies improve mission efficiency and expand exploration possibilities, making ambitious projects like Mars missions and deep-space exploration more feasible. Simultaneously, advancements in satellite technologies, including miniaturization, high-resolution imaging, and improved communication systems, enhance data collection, navigation, and monitoring drives the market.
Restraint:
Navigating complex international regulations and compliance requirements
Each country has its own regulatory frameworks governing space activities, including licensing, export controls, and safety standards. For international collaborations or commercial ventures, compliance with multiple regulatory bodies can be cumbersome and costly. The need to adhere to various regulations can slow down project development and increase the time required for approvals. This regulatory complexity can also discourage smaller companies or startups from entering the market due to the high cost of compliance and legal challenges.
Opportunity:
Scientific curiosity and exploration
The quest to understand the universe, discover extraterrestrial life, and explore celestial bodies stimulates investment in research and development. This curiosity leads to ambitious projects, such as Mars rovers, lunar landers, and space telescopes, which expand market opportunities and advance technological capabilities and it also encourages international collaboration and partnerships, enhancing the sharing of expertise and resources boosts the market growth.
Threat:
Substantial financial investment
High costs associated with developing, launching, and operating space missions can deter smaller companies and startups from participating, concentrating market activity among well-funded players and reducing competition. These financial demands can also lead to project delays or cancellations if funding becomes insufficient, impacting mission timelines and overall market momentum. Additionally, the focus on high-budget projects might overshadow smaller, potentially valuable initiatives, stifling innovation and diversity in space exploration.
Covid-19 Impact:
COVID-19 had a mixed impact on the space exploration market. While it caused delays in projects, disrupted supply chains, and slowed down manufacturing and launch schedules, it also highlighted the importance of space technology and innovation. The pandemic accelerated interest in remote sensing and satellite communication technologies for monitoring and managing global health crises. Governments and private companies adapted by implementing remote work and developing contingency plans, which helped maintain momentum in space exploration activities.
The human spaceflight segment is expected to be the largest during the forecast period
The human spaceflight is expected to be the largest during the forecast period owing to driving technological advancements, stimulating investment, and expanding mission possibilities. The pursuit of human space missions, such as those to the Moon, Mars, and beyond, necessitates significant developments in spacecraft design, life support systems, and mission planning. These advancements drive innovation across the industry, leading to new technologies and capabilities.
The propulsion systems segment is expected to have the highest CAGR during the forecast period
The propulsion systems segment is expected to have the highest CAGR during the forecast period due to advanced propulsion technologies enable spacecraft to achieve the speeds and trajectories necessary for deep space exploration, including missions to the Moon, Mars, and beyond. Innovations such as ion thrusters, nuclear thermal propulsion, and electric propulsion systems enhance efficiency, reduce travel time, and expand mission possibilities thus encourage the market.
Region with largest share:
North America is projected to hold the largest market share during the forecast period. The U.S. dominates the North American space exploration market, with NASA as the primary governmental agency responsible for space missions. NASA's Artemis program aims to return humans to the Moon and establish a sustainable presence, with plans for future Mars exploration. The U.S. also hosts several prominent private space companies, such as SpaceX, Blue Origin, and Boeing, which contribute to both government and commercial space missions. SpaceX’s advancements in reusable rocket technology and its ambitious plans for Mars colonization exemplify the sector's innovation and growth.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period owing to the increasing investments from both government and private sectors in space technology and exploration activities. Moreover the Asia Pacific region's space exploration market is characterized by increasing investment in space infrastructure, advancements in satellite technology, and growing international collaboration.
Key players in the market
Some of the key players in Space Exploration market include SpaceX, Blue Origin, Boeing, Lockheed Martin, Northrop Grumman, Virgin Galactic, Rocket Lab, Sierra Nevada Corporation, Maxar Technologies, United Launch Alliance, iSpace, Masten Space Systems, Space Adventures, Firefly Aerospace and Eutelsat OneWeb
Key Developments:
In July 2024, Northrop Grumman completed preliminary design review for the latest generation of space development agency’s proliferated data transport satellites. The 74 satellites include the Tranche 2 Beta and Tranche 2 Alpha configurations.
In July 2024, Northrop Grumman GEM 63 Solid Rocket boosters help successfully launch national security mission Aboard Atlas V Rocket. Five GEM 63 boosters supporting the Atlas V represents the most powerful configuration of the rocket.
In July 2024, U.S. and Netherlands signed agreement for JASSM-ER Missiles. Joint Air-to-Surface Standoff Missile Extended Range (JASSM-ER). With this agreement, the Netherlands becomes JASSM’s fifth international customer.
Mission Types Covered:
• Human Spaceflight
• Robotic Spaceflight
Components Covered:
• Spacecraft
• Launch Vehicles
• Rovers and Probes
• Space Habitats
• Ground Infrastructure
• Other Components
Orbits Covered:
• Low Earth Orbit
• Geostationary Earth Orbit
• Beyond Earth Orbit
Technologies Covered:
• Propulsion Systems
• Avionics & Navigation Systems
• Power Systems
• Robotics & Autonomous Systems
• Launch Technologies
• Data & Imaging Technologies
• Other Technologies
Applications Covered:
• Deep Space Exploration
• Earth Observation
• Communication Satellites
• Navigation Satellites
• Space Tourism
• Other Applications
End Users Covered:
• Government & Defense
• Commercial Enterprises
• Academic & Research Institutions
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Space Exploration Market, By Mission Type
5.1 Introduction
5.2 Human Spaceflight
5.3 Robotic Spaceflight
6 Global Space Exploration Market, By Component
6.1 Introduction
6.2 Spacecraft
6.3 Launch Vehicles
6.4 Rovers and Probes
6.5 Space Habitats
6.6 Ground Infrastructure
6.7 Other Components
7 Global Space Exploration Market, By Orbit
7.1 Introduction
7.2 Low Earth Orbit
7.3 Geostationary Earth Orbit
7.4 Beyond Earth Orbit
8 Global Space Exploration Market, By Technology
8.1 Introduction
8.2 Propulsion Systems
8.3 Avionics & Navigation Systems
8.4 Power Systems
8.5 Robotics & Autonomous Systems
8.6 Launch Technologies
8.7 Data & Imaging Technologies
8.8 Other Technologies
9 Global Space Exploration Market, By Application
9.1 Introduction
9.2 Deep Space Exploration
9.3 Earth Observation
9.4 Communication Satellites
9.5 Navigation Satellites
9.6 Space Tourism
9.7 Other Applications
10 Global Space Exploration Market, By End User
10.1 Introduction
10.2 Government & Defense
10.3 Commercial Enterprises
10.4 Academic & Research Institutions
10.5 Other End Users
11 Global Space Exploration Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 SpaceX
13.2 Blue Origin
13.3 Boeing
13.4 Lockheed Martin
13.5 Northrop Grumman
13.6 Virgin Galactic
13.7 Rocket Lab
13.8 Sierra Nevada Corporation
13.9 Maxar Technologies
13.10 United Launch Alliance
13.11 iSpace
13.12 Masten Space Systems
13.13 Space Adventures
13.14 Firefly Aerospace
13.15 Eutelsat OneWeb
List of Tables
1 Global Space Exploration Market Outlook, By Region (2022-2030) ($MN)
2 Global Space Exploration Market Outlook, By Mission Type (2022-2030) ($MN)
3 Global Space Exploration Market Outlook, By Human Spaceflight (2022-2030) ($MN)
4 Global Space Exploration Market Outlook, By Robotic Spaceflight (2022-2030) ($MN)
5 Global Space Exploration Market Outlook, By Component (2022-2030) ($MN)
6 Global Space Exploration Market Outlook, By Spacecraft (2022-2030) ($MN)
7 Global Space Exploration Market Outlook, By Launch Vehicles (2022-2030) ($MN)
8 Global Space Exploration Market Outlook, By Rovers and Probes (2022-2030) ($MN)
9 Global Space Exploration Market Outlook, By Space Habitats (2022-2030) ($MN)
10 Global Space Exploration Market Outlook, By Ground Infrastructure (2022-2030) ($MN)
11 Global Space Exploration Market Outlook, By Other Components (2022-2030) ($MN)
12 Global Space Exploration Market Outlook, By Orbit (2022-2030) ($MN)
13 Global Space Exploration Market Outlook, By Low Earth Orbit (2022-2030) ($MN)
14 Global Space Exploration Market Outlook, By Geostationary Earth Orbit (2022-2030) ($MN)
15 Global Space Exploration Market Outlook, By Beyond Earth Orbit (2022-2030) ($MN)
16 Global Space Exploration Market Outlook, By Technology (2022-2030) ($MN)
17 Global Space Exploration Market Outlook, By Propulsion Systems (2022-2030) ($MN)
18 Global Space Exploration Market Outlook, By Avionics & Navigation Systems (2022-2030) ($MN)
19 Global Space Exploration Market Outlook, By Power Systems (2022-2030) ($MN)
20 Global Space Exploration Market Outlook, By Robotics & Autonomous Systems (2022-2030) ($MN)
21 Global Space Exploration Market Outlook, By Launch Technologies (2022-2030) ($MN)
22 Global Space Exploration Market Outlook, By Data & Imaging Technologies (2022-2030) ($MN)
23 Global Space Exploration Market Outlook, By Other Technologies (2022-2030) ($MN)
24 Global Space Exploration Market Outlook, By Application (2022-2030) ($MN)
25 Global Space Exploration Market Outlook, By Deep Space Exploration (2022-2030) ($MN)
26 Global Space Exploration Market Outlook, By Earth Observation (2022-2030) ($MN)
27 Global Space Exploration Market Outlook, By Communication Satellites (2022-2030) ($MN)
28 Global Space Exploration Market Outlook, By Navigation Satellites (2022-2030) ($MN)
29 Global Space Exploration Market Outlook, By Space Tourism (2022-2030) ($MN)
30 Global Space Exploration Market Outlook, By Other Applications (2022-2030) ($MN)
31 Global Space Exploration Market Outlook, By End User (2022-2030) ($MN)
32 Global Space Exploration Market Outlook, By Government & Defense (2022-2030) ($MN)
33 Global Space Exploration Market Outlook, By Commercial Enterprises (2022-2030) ($MN)
34 Global Space Exploration Market Outlook, By Academic & Research Institutions (2022-2030) ($MN)
35 Global Space Exploration Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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