Space Launch Services Market in Asia Pacific is driven by governments are spending on satellite technology and exploration program. Countries such as China & India strengthening their military and defense system will boost the industry revenue during forecast time frame. In 2016, China premiered 2 new rockets supporting its future line of orbital satellite carriers.
Increasing importance of satellites for planetary science, space exploration, geo information, telecommunication and socio-economic development encourage the investment is satellite technology across the globe. Developing nation’s increasing interest in interplanetary technology fuels the space launch services market.
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Substantial government capital investment in space technology supports the industry growth. Some of the major investments include more than USD 3 billion for European Space Agency (ESA) launch vehicle Ariane 6 by industrial and government sources. The product is expected to be launched by 2020. In January 2015, Fidelity investments & Google invested USD 1 billion in SpaceX.
For instance, SpaceX developing ITS and Falcon Heavy launch vehicles, United launch alliance (ULA) in partnership with Blue Origin is developing BE-4 LOX/methane engine for first stage booster rocket. New technology vehicles are expected to increase the success rate and accuracy of space launch services market.
Complying with regulatory norms and limited intellectual resources pose challenge for industry growth. Space launch services market requires highly qualified and well-trained resources for high success rate. Service providers lacking skilled human resource may hamper the industry growth.
Based on payload, space launch services market is categorized in to satellite, human spacecraft, testing probes, cargo and stratollite. Satellite segment will observe high growth rate owing to increasing need for earth monitoring to obtain accurate & relevant information for mineral exploration, mapping, resource management and land use planning.
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Based on orbit, low earth orbit (LEO) segment is expected to dominate the total market due to increasing spaceflights for cargo delivery to international space stations. Other segments include medium earth orbit (MEO), higher altitude orbits (HEO), geostationary earth orbit (GEO) and beyond GEO. Increasing demand for higher capacity vehicles will support the GEO segment growth.
North America is expected to witness significant growth during the forecast timeframe owing to strong presence of manufacturers in the region focusing on the business expansion. Moreover, presence of end-user industries dealing in aerospace and defense such as Boeing will further support the Space Launcher market demand.
Space launch services market participants include Antrix Corporation, Arianespace, China Aerospace Science and Technology Corporation, Eurockot Launch Services, ILS, ISC Kosmotras, Mitsubishi Heavy Industries, Orbital, ATK, SpaceX, Starsem, ULA. High investment from private sector supported by long term government development programs will boost industry revenue. Increasing interest from private sector will increase the industry competition during the forecast period.
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