PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1340442
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1340442
According to SPER Market Research, 'Space Launch Services Market Size- By Payload, By Launch Platform, By Service Type, By Launch Vehicle, By Orbit, By End User - Regional Outlook, Competitive Strategies and Segment Forecast to 2033' state that the Space Launch Services Market is predicted to reach USD 69.65 billion by 2033 with a CAGR of 15.33%.
A space launch service involves launching payloads, like satellites and spacecraft, into space using rockets or launch vehicles. Government agencies, private aerospace companies, and commercial providers offer these services. The process includes pre-launch preparations, vehicle assembly, launch, and payload deployment. Space launch services have diverse applications, from satellite deployment for communication and research to crewed missions and planetary exploration. Advancements, like reusable rockets, aim to lower costs.
the COVID-19 pandemic underscored the significance of space-based data for crisis management and disaster response, resulting in heightened interest in satellite deployment. Crewed missions were affected by safety protocols, leading to adjustments in crew selection, training, and mission schedules. The pandemic had varying impacts on different companies, causing shifts in the competitive landscape of the space launch services market.