(MENAFN- GlobeNewsWire - Nasdaq) The global space launch services market is set for significant growth driven by increased satellite launches for communication and navigation, and rising demand for human space exploration. Government and private interest in space are key growth catalysts.Dublin, Sept. 25, 2025 (GLOBE NEWSWIRE) -- The "Space Launch Services Market Forecast 2025-2034" has been added to ResearchAndMarkets's offering.
The global space launch services market is projected to expand significantly from a value of USD 19.32 billion in 2024, achieving a compound annual growth rate (CAGR) of 15.30% during the forecast period of 2025-2034. This growth trajectory is expected to bring the market value to an impressive USD 80.22 billion by 2034.
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Increasing Demand for Satellite Launching to Bolster Industry Growth
The satellite payload segment is anticipated to command a substantial market share due to escalated investments in satellite launches, facilitating advanced communication and GPS navigation technologies. Concurrently, the mounting demand for human spacecraft to foster extensive space exploration significantly contributes to the market's forward momentum. These elements collectively enhance the market landscape in the upcoming years.
North America: A Leading Region in the Space Launch Services Market
North America's dominance in the space launch services market is projected to persist, fueled by the presence and strategic initiatives of major market players. Significant investments in assembly and launch operations, coupled with relentless advancements in human spacecraft and space probe technologies, consolidate this region's market stature. Notable developments, such as NASA's approval of the SpaceX crew mission launch in October, underscore the growth impetus here.
Market Segmentation Highlights
Space launch services comprise various specialized companies that engage in the construction, assembly, and launching of spacecraft for purposes like space exploration and satellite deployment, predominantly utilized by militaries and government entities. Additionally, the burgeoning interest in space tourism is further invigorating industry dynamics.
By Payload: Satellite, Human Spacecraft, Cargo, Testing Probes, Stratollite By Launch Platform: Land, Air, Sea By Service Type: Pre-Launch, Post-Launch By Launch Vehicle: Small Launch Vehicle, Heavy Launch Vehicle By End User: Government and Military, Commercial By Region: North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Government Investments and Private Sector Engagement Boost Market Prospects
Substantial government investments in national space programs and burgeoning private enterprise interest are pivotal in propelling industry expansion. The development of digital satellite infrastructure and heightened military operations add robust dimensions to market growth. Furthermore, space tourism is gaining traction, evidenced by SpaceX's successful completion of a three-day mission, pioneering commercial opportunities.
Key Players Shaping the Global Space Launch Services Landscape
Noteworthy entities driving competitive advancements in the industry include:
Airbus SE Antrix Corporation Limited Space Exploration Technologies Corp. (SpaceX) Lockheed Martin Corp. The Boeing Company Others
This comprehensive analysis offers insights based on Porter's five forces model and SWOT analysis, providing a detailed industry assessment.
Key Attributes
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