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Pulished Date November, 2021
ID: 12411
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Spacecraft market is segmented by type (Manned spacecraft and Unmanned Spacecraft), By Application (Commercial and Military & Defense, Regional and Global Industry analysis forecast Period 2021-2026.

Pulished: November, 2021
ID: 12411
Pages: 175

Spacecraft Market Size & Growth (2021-2026):

Spacecraft market size is expected to grow at a CAGR of 8% during the forecast period. A spacecraft is a machine designed in such a way that it can be able to fly in space. It is an artificial satellite that is being tested for various tasks such as planetary exploration, navigation, and communications. The global spacecraft market for space Satellites has seen increasing demand for spacecraft from developed and developing economies. Moreover, only single-to-orbit-level vehicles do not require launch vehicles or a company rocket. Moreover, growing technological advances combined with spacecraft components are likely to offer the majority of the growth to the global spacecraft market in the next six years.

Market Drivers:

Increasing competition among developed economies urges participants to immediately promote space missions, which creates a massive demand for the global spacecraft market. The global spacecraft market is driven by the expansion of spacecraft and the space program of developed countries. In addition, the increase in government spending is expected to strengthen space operations, further driving the need for spacecraft. Over the last few decades, space exploration programs have gotten a lot of attention, and large countries have dominated the worldwide market by demonstrating their space capabilities. Furthermore, the expansion of space R&D projects has fueled the worldwide spacecraft industry. Likewise, growing cooperation among international space institutions for technology integration and investment reinforces the global market for space missions, driving demand for both human and unmanned spacecraft. The increase in space exploration missions could also be linked to increased government funding and space budgets. Furthermore, the global spacecraft market is expected to benefit from the shrinking of spacecraft components, which would drive application and demand.

Market Restraints:

An unauthorized individual can use spacecraft because it can be controlled remotely. It takes longer for radio waves to travel from space to Earth since it functions in space. This will further affect the analysis to take longer. It doesn't provide people with a lot of options. It has a restricted maintenance provision, which reduces its lifespan. Atmospheric health risks due to exposure to radiation are mainly caused by long-term effects, which further limits the global spacecraft market growth in the upcoming years.

SPACECRAFT MARKET REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 – 2026

Base Year

2020

Forecast Period

2021 - 2026

CAGR

8%

Segments Covered

  • By Type

  • By Application

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

The Boeing Company Airbus SE SpaceX Lockheed Martin Corporation Space Exploration Technologies Crop. Sierra Nevada Corporation Berlin Space Technologies GmbH Northrop Grumman Corporation Thales Alenia Space Millennium Space Systems OHB System AG

Market Segmentation:

Spacecraft market By type:

  • Manned spacecraft
  • Unmanned Spacecraft 

The unmanned spacecraft category now holds the largest market share, which is likely to have during the projection period. Revenues from satellite launches, freight transportation spacecraft, and spacecraft for deploying land rovers for planetary exploration missions, among other things, are included in this part. Satellite launches have grown in recent years to support a variety of uses. Satellite launches are also likely to rise in the following years to support a variety of purposes, including military, commercial (such as telecommunications), and space research. Moreover, the inclusion of Artificial Intelligence (AI) technology in spatial operations enhances the growth of the global spacecraft market.

Spacecraft market By application:

  • Commercial 
  • Military 
  • Defense

The commercial segment is anticipated to hold the highest spacecraft market share during the forecast period. Moreover, the commercial part offers the supply of goods and services with the help of equipment to the Earth's orbit or space. Furthermore, owners of these particular services generally have a contract to produce satellites and deliver them to various public and private industries, which form an integral part of the space economy. In addition, to the number of public benefits, commercial airline passengers appear to have the potential to catalyze the introduction of cost reductions. Furthermore, several thoughts have been implemented, like asteroid mines, solar sails, space colonies, and, mobile suits which have the capacity to play a significant key role in the global spacecraft market.

Regional Analysis:

  • North America 
  • Asia-Pacific
  • Europe 
  • Latin America
  • Middle-East-America

The Asia-Pacific is anticipated to generate the highest global spacecraft market share in the next six years. It is majorly due to increasing investments for space from emerging economies, including China, India, Japan, and South Korea. In addition, China is actively investing in space technology to catch up to the United States. The Chinese government and private enterprises are investing heavily in earth observation, satellite communications, and satellite manufacturing. These substantial investments have resulted in the creation and launch of several military and commercial satellites. As a result, China was the second-largest country in terms of operational satellites in orbit, after the United States.

During 2021-2026, North America tends to have the highest CAGR in the global spacecraft market. The presence of NASA in the region contributes to the region's dominance. NASA's extraterrestrial activities have a considerable budget. The presence of many major market players in the area, such as Lockheed Martin Corporation and Boeing Company, is projected to boost the worldwide spacecraft market's growth in the future years.

Recent Developments:

In April 2021, SpaceX launches 60 more Starlink Satellites, increasing the number of satellites introduced to 300 over a month. These satellites are being introduced as part of the company's goal to launch 1,500 Starlink satellites by 2021.

On 11 March 2021, Airbus was appointed by the European Commission to study the development of space missions through the Horizon 2020 Plan. This is a precursor to the future creation of large structures in orbit. Direct production in orbit will change the way space systems are designed, built, and used.

Market Key Players:

  • The Boeing Company
  • Airbus SE
  • SpaceX
  • Lockheed Martin Corporation
  • Space Exploration Technologies Crop.
  • Sierra Nevada Corporation
  • Berlin Space Technologies GmbH
  • Northrop Grumman Corporation
  • Thales Alenia Space
  • Millennium Space Systems
  • OHB System AG

Impact of Covid-19 on Spacecraft market:

After COVID-19, spacecraft production will become more flexible. However, due to the shutdown, the supply chain interruption is projected to impact the companies' future growth. Moreover, due to the ongoing pandemic, companies are not generating money, resulting in significant losses throughout the year. Therefore, to resurrect the market, companies must deal on a substantial margin basis. Furthermore, because of the lockdown, the revenue generation of the Spacecraft firms has suffered a significant loss.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                          

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling      

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                         

                                4.1.1 Drivers      

                                4.1.2 Restaints  

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis        

                                5.1.2 Products/Service  

                                5.1.3 Regional Presence               

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Spacecraft Market, By Type                

                                6.1.1 Manned spacecraft             

                                6.1.2 Unmanned Spacecraft       

                                6.1.3 Market Size Estimations & Forecasts (2021-2026)   

                                6.1.4 Y-o-Y Growth Rate Analysis             

                                6.1.5 Market Attractiveness Index          

                6.2 Spacecraft Market, By Application                    

                                6.2.1 Commercial            

                                6.2.2 Military & Defense              

                                6.2.3 Market Size Estimations & Forecasts (2021-2026)   

                                6.2.4 Y-o-Y Growth Rate Analysis             

                                6.2.5 Market Attractiveness Index          

7. Geographical Landscape                                         

                7.1 Global Spacecraft Market, by Region                              

                7.2 North America - Market Analysis (2021 - 2026)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Type    

                                7.2.3 By Application        

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Type    

                                7.3.3 By Application        

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Type    

                                7.4.3 By Application        

                7.5 Latin America                             

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Type    

                                7.5.3 By Application        

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Type    

                                7.6.3 By Application        

8. Key Player Analysis                                    

                8.1 The Boeing Company                             

                                8.1.1 Business Description           

                                8.1.2 Products/Service  

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis       

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Airbus SE                     

                8.3 SpaceX                         

                8.4 Lockheed Martin Corporation                            

                8.5 Space Exploration Technologies Crop.                            

                8.6 Sierra Nevada Corporation                  

                8.7 Berlin Space Technologies GmbH                      

                8.8 Northrop Grumman Corporation                      

                8.9 Thales Alenia Space                

                8.10 Millennium Space Systems                

                8.11 OHB System AG                     

9. Market Outlook & Investment Opportunities                                

Appendix                                           

                List of Tables                     

                List of Figures                   

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and also identifying the regions that are still untapped
  • The segment-level analysis in terms of type, application, and pest type  along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis, and analyst overview to study and sustain the market environment
  • Competitive landscape analysis lists out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies, and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Unmanned Spacecraft Market By Region, From 2021-2026 ( USD Billion )
  2. Global Spacecraft Market By Application, From 2021-2026 ( USD Billion )
  3. Global Commercial Market By Region, From 2021-2026 ( USD Billion )
  4. Global Military & Defense Market By Region, From 2021-2026 ( USD Billion )

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