Commercial Space Payload Market 2022 Insights Business Opportunities, Current Trends And Restraints Forecast 2030

Increasing number of commercial satellite launches, rising number of space exploration missions are key factors driving market                   

VANCOUVER, BC, CANADA, March 29, 2022 /EINPresswire.com/ -- 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.

Increasing number of commercial satellite launches, rising number of space exploration missions, and rising demand for satellite data are key factors driving revenue growth of market                   

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.

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Some Key Highlights From the Report

Human spacecraft segment revenue is expected to expand at a substantially rapid CAGR during the forecast period due to rising demand for space tourism and manned space missions

Low Earth Orbit (LEO) segment is expected to register a significantly robust revenue growth rate over the forecast period due to lowering launch costs which is expected to reduce cost of manufacturing spacecraft, ground equipment, and user equipment

North America is expected to register a steady revenue growth rate in commercial space payload market over the forecast period than other regional markets due to robust presence of international and domestic enterprises involved in making of commercial space payloads, such as Space Exploration Technologies Corporation (SpaceX), Air Products Inc., The Boeing Company, United Launch Alliance, LLC., International Launch Services, Inc., and Blue Origin, LLC, among others in countries in the region.

Some major companies in the global market report include 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

In November 2021, Spaceflight Industries, Inc. launched 13 customer payloads into two separate orbits for the first time. After being launched by SpaceX\'s Falcon 9 rocket, Orbital Transfer Vehicles (OTV) will first place four microsatellites and five CubeSats in Sun Synchronous Orbit (SSO), and then travel 500 kilometers to deploy remaining four CubeSats in a different orbit.

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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

Regional Outlook: (Revenue, USD Billion; 2018-2028)

North America (U.S.) (Canada) (Mexico)

Europe (Germany) (UK) (France) (BENELUX) (Rest of Europe)

Asia Pacific (China) (Japan) (South Korea) (Rest of APAC)

Latin America (Brazil) (Rest of LATAM)

Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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Table of Contents:

Chapter 1 includes an introduction of the global Keyword Market, along with a comprehensive market overview, market scope, product offerings, and an investigation of the market drivers, growth opportunities, risks, restraints, and other vital factors.

Chapter 2 offers an in-depth analysis of the key manufacturers engaged in this business vertical, along with their sales and revenue estimations.

Chapter 3 elaborates on the highly competitive terrain of the market, highlighting the key manufacturers and vendors.

In Chapter 4, our team has fragmented the Keyword market on the basis of regions, underscoring the sales, revenue, and market share of each region over the forecast timeline.

Chapters 5 and 6 have laid emphasis on the Keyword market segmentation based on product type and application

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Finally, all aspects of the Commercial Space Payload market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

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