Space Launch Services Market to Reach $46.1 billion, Globally, by 2033 at 13.9% CAGR: Allied Market Research

Space launch services include all the activities from launch to after launch service for private companies, government space agencies, or international organizations and include all aspects of preparing, launching, and supporting rockets or spacecraft for transport beyond Earth's atmosphere. A company that specializes in the launch of spacecraft is known as a space launch service provider. Converting, ordering, or constructing the carrier rocket, assembling & stacking, payload integration, and finally completing the launch, all falls under space launch vehicle category.

/EIN News/ -- Wilmington, Delaware, Feb. 06, 2025 (GLOBE NEWSWIRE) --

Allied Market Research published a report, titled, "Space Launch Services Market by Payload (Satellite, Human Spaceflight, Cargo, Testing Probes, and Stratollites), Launch Platform (Land, Air, Sea), by Service Type (Pre Launch, and Post Launch), Launch Vehicle (Small launch vehicle and Heavy Launch Vehicle), and End User (Government and Military, and Commercial): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the space launch services market was valued at $12.7 billion in 2023, and is estimated to reach $46.1 billion by 2033, growing at a CAGR of 13.9% from 2024 to 2033. 

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Prime determinants of growth   

The global space launch services market has experienced significant growth and transformation, driven by increase in government focus on the development of the space exploration industry, growth in the emergence of private sector players, and growth in the development of satellites. Also, growth in focus on price reduction for space launch services and increase in space tourism and commercial space travel are anticipated to provide lucrative market growth opportunities during the forecast period.  

Report coverage & details:  

Report Coverage	Details
Forecast Period	2024–2033
Base Year	2023
Market Size in 2023	$12.7 billion
Market Size in 2033	$46.1 billion
CAGR	13.9 %
No. of Pages in Report	280
Segments Covered	Payload, Launch Platform, Service Type, Launch Vehicle, End User, and Region.
Drivers	Increase in government focus on the development of the space exploration industry    Growth in the emergence of private sector players   Growth in the development of satellites
Opportunities	Growth in focus on price reduction for space launch services   Increase in space tourism and commercial space travels
Restraints	High initial investment associated with space launch services   Growth in space debris hinder the market growth

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The satellite segment to maintain its leadership throughout the forecast period  

By payload, the satellite segment held the highest market share in 2023, owing to a wide range of applications, and increase in demand from various industries. In addition, expanding satellite constellations for commercial, governmental, and scientific purposes are further driving the growth of the segment. Furthermore, growth in demand for internet and other telecommunication services, especially in remote regions, is further driving the demand for satellites.   

However, the human spaceflight segment is projected to witness the highest CAGR of 15.6% during the forecast period owing to advancements in space vehicle design, automation, and safety protocols that have made human spaceflight much safer. In addition, private companies like SpaceX, Blue Origin, and Virgin Galactic are actively developing commercial space tourism programs  

The land platform to maintain its dominance during the forecast period  

By launch platform, the land segment accounted for a dominant market share and the highest CAGR in 2023, owing to strong infrastructure, such as launch pads, assembly facilities, fuel storage, and mission control centers. This infrastructure is critical for assembling rockets, fueling, and conducting safety checks, which are difficult and costly to replicate on mobile or offshore platforms. In addition, land platforms offer a stable foundation, thus reducing complexities related to launching from a moving or floating platform.   

The pre launch service market to maintain its leadership during the forecast period. 

By service type, the pre-launch service segment accounted for the largest market share and is anticipated to maintain its dominance till 2033, owing to pre-launch service including a variety of services including satellite design, trajectory analysis, payload integration, and testing. These services are essential for tailoring each mission to specific customer needs and demands. Moreover, presales services include payload to the launch site, fueling, final inspections, and coordination with launch site operators.   

The heavy launch vehicle segment to maintain its leadership during the forecast period  

By launch vehicle, the heavy launch vehicle segment dominated the global market share in 2023, owing to its capacity to carry large payloads, and ability to reach high orbits. Likewise, heavy launch vehicles are essentially used in telecommunications, defense, surveillance, and other interplanetary missions. Moreover, heavy launch vehicles can be more cost-effective per kilogram than multiple smaller launches, as they can carry several satellites or a single massive payload.  

The government and military segment to dominate the market during the forecast period  

By end user, the government and military segment dominated the global market share in 2023, owing to military satellites providing vital capabilities in imaging, signals intelligence, and reconnaissance, thus allowing governments to monitor global activities, track potential threats, and gather critical intelligence data. Moreover, the government and military satellites provide secure and reliable communication systems that are essential for military operations, especially in remote areas. Satellite-based communication networks enable real-time, encrypted communication between military units, vehicles, and command centers, independent of ground-based infrastructure.  

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North America is expected to dominate the market in 2032   

By region, North America held the highest market share in terms of revenue in 2023, owing to North America being home to several major private companies, such as SpaceX, Blue Origin, and Rocket Lab, which have revolutionized the space launch sector. In 2023, the North American market accounted for close to 50% of the global space launch services, the primary factor driving the market in the region is due to the U.S. government initiatives in fostering the growth of the space launch services market. There are various government agencies such as NASA and the Department of Defense, which are investing heavily in space-based technologies and supporting commercial partnerships. Furthermore, ongoing advancement in space technologies and emergence of private companies in the North American market are anticipated to continue to dominate the global market during the forecast period.   

Leading Market Players: -  

• Starsem  

• Antrix Corporation Limited  

• Rocket Lab USA  

• SPACEX  

• United Launch Alliance, LLC.  

• Mitsubishi Heavy Industries, LTD  

• Lockheed Martin Corporation.  

• Northrop Grumman Corporation  

• China Aerospace Science and Technology Corporation  

• SAFRAN SA  

The report provides a detailed analysis of these key players in the global space launch services market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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