Space Technology Market Report: Trends, Forecast and Competitive Analysis to 2030

Space Technology Trends and Forecast

The future of the global space technology market looks promising with opportunities in the commercial, military, and government markets. The global space technology market is expected to reach an estimated $402.7 billion by 2030 with a CAGR of 7.0% from 2024 to 2030. The major drivers for this market are growing number of technological innovations and scientific discoveries and increasing demand for satellite-based services, such as communications, television, weather forecasting, and remote sensing.

A more than 150-page report is developed to help in your business decisions.

Space Technology by Segment

The study includes a forecast for the global space technology by application, end use industry, and region.

Space Technology Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Navigation & Mapping
• Meteorology
• Disaster Management
• Satellite Communication
• Satellite Television
• Remote Sensing
• Science & Engineering
• Earth Observation and Military
• Others

Space Technology Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:

• Commercial
• Military
• Government

Space Technology Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• The Rest of the World

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies space technology companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the space technology companies profiled in this report include-

• Boeing
• SpaceX
• Virgin Galactic
• Blue Origin
• Lockheed Martin Corporation

Space Technology Market Insights

Lucintel forecasts that remote sensing is expected to witness highest growth over the forecast period.

Within this market, commercial will remain the largest segment.

North America is expected to witness highest growth over the forecast period.

Features of the Global Space Technology Market

Market Size Estimates: Space technology market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Space technology market size by end use industry, application, and region. in terms of value ($B).

Regional Analysis: Space technology market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different end use industries, applications, and region.s for the space technology market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the space technology market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1. What is the space technology market size?

Answer: The global space technology market is expected to reach an estimated $402.7 billion by 2030.

Q.2. What is the growth forecast for space technology market?

Answer: The global space technology market is expected to grow with a CAGR of 7.0% from 2024 to 2030.

Q.3. What are the major drivers influencing the growth of the space technology market?

Answer: The major drivers for this market are growing number of technological innovations and scientific discoveries and increasing demand for satellite-based services, such as communications, television, weather forecasting, and remote sensing.

Q.4. What are the major segments for space technology market?

Answer: The future of the space technology market looks promising with opportunities in the commercial, military, and government markets.

Q.5. Who are the key space technology market companies?

Answer: Some of the key space technology companies are as follows:

• Boeing
• SpaceX
• Virgin Galactic
• Blue Origin
• Lockheed Martin Corporation

Q.6. Which space technology market segment will be the largest in future?

Answer: Lucintel forecast that remote sensing is expected to witness highest growth over the forecast period.

Q.7. In space technology market, which region is expected to be the largest in next 5 years?

Answer: North America is expected to witness highest growth over the forecast period.

Q.8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the space technology market by application (navigation & mapping, meteorology, disaster management, satellite communication, satellite television, remote sensing, science & engineering, earth observation and military, and others), end use industry (commercial, military, and government), and region. (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?