Global Space Equipment Market to Reach $532.1 Billion by 2030
The global market for Space Equipment estimated at US$414.5 Billion in the year 2023, is expected to reach US$532.1 Billion by 2030, growing at a CAGR of 3.2% over the analysis period 2023-2030. Communications Satellites, one of the segments analyzed in the report, is expected to record a 3.4% CAGR and reach US$240.1 Billion by the end of the analysis period. Growth in the Earth Observation Satellites segment is estimated at 2.9% CAGR for the next 8-year period.
The U.S. Market is Estimated at $232.5 Billion, While China is Forecast to Grow at 3.8% CAGR
The Space Equipment market in the U.S. is estimated at US$232.5 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$54 Billion by the year 2030 trailing a CAGR of 3.8% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.3% and 2.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR.
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What to Expect from the Global Economy in 2024
Edgy geopolitics, and economic instability caused by monetary policy tightening and ensuing higher interest rates will create a tumultuous landscape for 2024. Several factors will continue to exert pressure on the path to recovery including hostilities in the Middle East and increasingly common climate disasters. Among the risks, several positives are also taking shape such as growing signs of disinflation and easing of anxiety over stubborn inflation, supply chain normalization and price moderation despite volatility in energy costs. Elections across several G21 jurisdictions, notably in India and the United States, will have potential ramifications for capital flows and investment strategies. While India emerges as a compelling destination in the global investment landscape, U.S, based tech firms will continue to dominate, fueled by a dynamic ecosystem of talent and capital. Tech opportunities in Silicon Valley and beyond remain attractive for investors seeking high-growth prospects supported largely by a resilient albeit slowing domestic economy and conducive regulatory environment. Europe will continue to battle tight monetary policy and recession risks with U.K. having the most challenging outlook and running the greatest risk of recession in 2024. China remains a wild card with hope for growth in the country underpinned by government spending and improvements in consumer spending. The volatile environment will offer both opportunities and challenges for investors and businesses alike. Embracing volatility as a catalyst for growth together with agility and strategic foresight in navigating investment decisions will remain important for survival.
Select Competitors (Total 112 Featured) -
Airbus SE
Arianespace SA
BAE Systems Plc
Beyond Gravity
Dassault Aviation SA
Honeywell Aerospace Technologies
Israel Aerospace Industries Ltd.
Lockheed Martin Corporation
Northrop Grumman Systems Corporation
Safran SA
Space Exploration Technologies Corp.
The Boeing Company
TABLE OF CONTENTS
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Robust Outlook for Space Technologies and Growing Indispensability of Satellites in Modern Communication & Networking Space Provides the Foundation for Growth in the Market
EXHIBIT 1: As the Space Race Intensifies, Satellite Manufacturing Gathers Importance & Urgency: Annual Number of Objects Launched Into Space (In Units) for the Years 2010 to 2023
An Introduction to Space Equipment
Communication Satellites
Earth Observation Satellites
Launch Vehicles
Global Economic Update
World Shifts to an Endemic COVID-19 Strategy With Focus on Multilateral Approach to Managing Future Pandemics
What to Expect from the Global Economy in 2024? Will We Be Still Searching for a Landing?
Noteworthy Economic Highlights for 2024
Here's How Inflationary Pressures Affect the Economy
Although Past Peak, Efforts to Solve the Inflation Puzzle Should Continue into 2024
Climate Change Will Remain a Long-Term Worry for the Global Economy
EXHIBIT 2: Global Oil Prices Remain Volatile Amid Acute Geopolitical Uncertainty & Tensions that Heighten Threat of Market Shocks: Global Average Annual Brent Crude Oil Price (In US$ Per Barrel) for Years 2017 through 2024
EXHIBIT 3: While Still Not in the Comfort Zone, the Expected Steeper Fall in Inflation in 2024 Can Cushion Economic Growth: Global Inflation Rates (In %) for the Years 2019 through 2025
EXHIBIT 4: Flat Growth for 2024 & A Possible Soft Landing, as the Global Economy Attempts to Balance Recovery While Navigating Through Wars, Political Conflicts & Inflation: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2022 Through 2025
Pandemic Impact on Satellite Industry and Its Implications for the Satellite Equipment Market
Satellite Companies Maneuver Various Approaches to Overcome Pandemic-Related Supply Chain Issues
Global Market Outlook
Competition
EXHIBIT 5: Space Equipment - Global Key Competitors Percentage Market Share in 2024 (E)
Competitive Market Presence - Strong/Active/Niche for Players Worldwide in 2024 (E)
Recent Market Activity
Influencer/Product/Technology Insights
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Innovation & Commercialization Characterize the New Space Era, Fueling Prospects in Space Equipment
Space Industry Continues to Make Rapid Gains
Key Upcoming Space Programs and Missions
Megatrends Elevating the Space Industry
Robust Satellite Manufacturing and Launch Activity Sets the Tone for Growth
EXHIBIT 6: Growing Number of Active Satellites Stand Testimony to the Strong Market Sentiment Prevalent in the Satellite Equipment Space: Global Number of Satellites (In Units) for Years 2005 through 2023
Increase in the Number of Space Exploration Missions Fuel Need for New Space Equipment
Demand for Satellites to Increase Significantly through this Decade End
How Declining Costs are Driving Space Economy, Presenting Significant Potential for Space Equipment Market
EXHIBIT 7: Declining Launch Cost to Boost Space Exploration Projects, Driving Demand for Space Equipment: Cost per Kg ($) of Payload Delivered to Low Earth Orbit
Advancements in Satellite Technology: Potential for Growth
Rise in Demand for Satellite Internet of Things (IoT)
Decluttering Space and Services In-Orbit Satellites
Development of Advanced Ground Systems
Artificial Intelligence (AI) and Machine Learning (ML)
Expanding Applications of Satellite Imagery in Commercial & Military Sectors
EXHIBIT 8: Global Satellite Imaging Market Breakdown (in %) by End-Use: 2024E
Emerging Use Cases Drive Demand for Complex and Economic Earth Observation Satellites
Remote Sensing Satellites Widen Opportunities
Trends Fueling Earth Observation Market
Communication Satellites Find Wider Application
Satellite Launches More Inclined Towards LEO Endeavors as Digitalization Trend Gains Momentum
Satellite Platforms for Weather Monitoring & Forecasting: An Overview
Mammoth Gains for Small Satellites Step Up Manufacturing & Launch Activity
EXHIBIT 9: Reduction in Spacecraft Structural Mass is the New Design Goal to Enable Increase in Payload & Agility: Average Weight of Spacecraft & SmallSats (In Kgs) Over the Years 2012, 2014, 2018, 2020 and 2022
EXHIBIT 10: SmallSats Account for Increasing Share of Payload Mass Carried Up to Orbit from Earth: % Share of SmallSats in Total Upmass Launched Into Space for the Years 2015, 2017, 2019, 2021 and 2023
EXHIBIT 11: Number of Cubesats Launches: 2002-2022
Rising Appeal of Satellite Connectivity Drives Need for Communication Satellites
Low Earth Orbit Technologies: A Landmark Innovation in Satellites to Fuel Gains
Demand Up for Satellite Launch Vehicles
Transforming Trends in Space Launch Industry: Market Poised to Benefit
Rise in Small Satellite Deployments Drive Demand for Micro-Launcher Services
Emerging Trends in Launch Systems Poised to Transform Market
Reusable Launch Systems: A Noteworthy Development in the Space Industry
Strategic Significance of Space for National Security and Defense Sector Promotes Investments into Space Equipment
Continuing Efforts by Military Organizations to Strengthen Satellite Networks to Drive Growth
EXHIBIT 12: Military Spending by Top Countries in 2024 (In US$ Billion)
Rising Demand for Valuable Space Data from Commercial and Defense Sectors Spurs Growth
A Glance at Major Sources and Types of Data
Shape Shifting Satellite and Hypersonic Space Plane to Provide Low Cost Access to Space
High Throughput Communication Satellites to Serve Unprecedented Demands for Video and Data Services
Increasing Use of Space Technologies for Research on Climate Change, Opportunities for Satellite Equipment Market
How Space Technologies Can Address the Issue of Climate Change
Space Equipment Market Benefits from the Sustained Rise in Private Sector Investments
EXHIBIT 13: Global Space Industry Size & Private Investments/Funding (In US$ Billion) for Years 2023, 2026, 2028 and 2030
EXHIBIT 14: Share of Private Funding for Spacetech Companies by Orbital-Regime Focus: 2015 and 2022
Here's Some of the Leading Private Companies in Space Industry
Challenges Confronting Space Equipment Market
4. GLOBAL MARKET PERSPECTIVE
TABLE 1: World Space Equipment Market Analysis of Annual Revenues in US$ Million for Years 2014 through 2030
TABLE 2: World Recent Past, Current & Future Analysis for Space Equipment by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 3: World Historic Review for Space Equipment by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
TABLE 4: World 16-Year Perspective for Space Equipment by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2014, 2024 & 2030
TABLE 5: World Recent Past, Current & Future Analysis for Communications Satellites by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 6: World Historic Review for Communications Satellites by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
TABLE 7: World 16-Year Perspective for Communications Satellites by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
TABLE 8: World Recent Past, Current & Future Analysis for Earth Observation Satellites by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 9: World Historic Review for Earth Observation Satellites by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
TABLE 10: World 16-Year Perspective for Earth Observation Satellites by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
TABLE 11: World Recent Past, Current & Future Analysis for Launch Vehicles by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 12: World Historic Review for Launch Vehicles by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
TABLE 13: World 16-Year Perspective for Launch Vehicles by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
III. MARKET ANALYSIS
UNITED STATES
Space Equipment Market Presence - Strong/Active/Niche - Key Competitors in the United States for 2024 (E)
Market Analytics
TABLE 14: USA Recent Past, Current & Future Analysis for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles - Independent Analysis of Annual Revenues in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 15: USA Historic Review for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
TABLE 16: USA 16-Year Perspective for Space Equipment by Type - Percentage Breakdown of Value Revenues for Communications Satellites, Earth Observation Satellites and Launch Vehicles for the Years 2014, 2024 & 2030
CANADA
TABLE 17: Canada Recent Past, Current & Future Analysis for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles - Independent Analysis of Annual Revenues in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 18: Canada Historic Review for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
TABLE 19: Canada 16-Year Perspective for Space Equipment by Type - Percentage Breakdown of Value Revenues for Communications Satellites, Earth Observation Satellites and Launch Vehicles for the Years 2014, 2024 & 2030
JAPAN
Space Equipment Market Presence - Strong/Active/Niche - Key Competitors in Japan for 2024 (E)
Market Analytics
TABLE 20: Japan Recent Past, Current & Future Analysis for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles - Independent Analysis of Annual Revenues in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 21: Japan Historic Review for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
TABLE 22: Japan 16-Year Perspective for Space Equipment by Type - Percentage Breakdown of Value Revenues for Communications Satellites, Earth Observation Satellites and Launch Vehicles for the Years 2014, 2024 & 2030
CHINA
TABLE 23: China Recent Past, Current & Future Analysis for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles - Independent Analysis of Annual Revenues in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 24: China Historic Review for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
TABLE 25: China 16-Year Perspective for Space Equipment by Type - Percentage Breakdown of Value Revenues for Communications Satellites, Earth Observation Satellites and Launch Vehicles for the Years 2014, 2024 & 2030
EUROPE
Space Equipment Market Presence - Strong/Active/Niche - Key Competitors in Europe for 2024 (E)
Market Analytics
TABLE 26: Europe Recent Past, Current & Future Analysis for Space Equipment by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 27: Europe Historic Review for Space Equipment by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
TABLE 28: Europe 16-Year Perspective for Space Equipment by Geographic Region - Percentage Breakdown of Value Revenues for France, Germany, Italy, UK and Rest of Europe Markets for Years 2014, 2024 & 2030
TABLE 29: Europe Recent Past, Current & Future Analysis for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles - Independent Analysis of Annual Revenues in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 30: Europe Historic Review for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
TABLE 31: Europe 16-Year Perspective for Space Equipment by Type - Percentage Breakdown of Value Revenues for Communications Satellites, Earth Observation Satellites and Launch Vehicles for the Years 2014, 2024 & 2030
FRANCE
TABLE 32: France Recent Past, Current & Future Analysis for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles - Independent Analysis of Annual Revenues in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 33: France Historic Review for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
TABLE 34: France 16-Year Perspective for Space Equipment by Type - Percentage Breakdown of Value Revenues for Communications Satellites, Earth Observation Satellites and Launch Vehicles for the Years 2014, 2024 & 2030
GERMANY
TABLE 35: Germany Recent Past, Current & Future Analysis for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles - Independent Analysis of Annual Revenues in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 36: Germany Historic Review for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
TABLE 37: Germany 16-Year Perspective for Space Equipment by Type - Percentage Breakdown of Value Revenues for Communications Satellites, Earth Observation Satellites and Launch Vehicles for the Years 2014, 2024 & 2030
ITALY
TABLE 38: Italy Recent Past, Current & Future Analysis for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles - Independent Analysis of Annual Revenues in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 39: Italy Historic Review for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
TABLE 40: Italy 16-Year Perspective for Space Equipment by Type - Percentage Breakdown of Value Revenues for Communications Satellites, Earth Observation Satellites and Launch Vehicles for the Years 2014, 2024 & 2030
UNITED KINGDOM
TABLE 41: UK Recent Past, Current & Future Analysis for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles - Independent Analysis of Annual Revenues in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 42: UK Historic Review for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
TABLE 43: UK 16-Year Perspective for Space Equipment by Type - Percentage Breakdown of Value Revenues for Communications Satellites, Earth Observation Satellites and Launch Vehicles for the Years 2014, 2024 & 2030
REST OF EUROPE
TABLE 44: Rest of Europe Recent Past, Current & Future Analysis for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles - Independent Analysis of Annual Revenues in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 45: Rest of Europe Historic Review for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
TABLE 46: Rest of Europe 16-Year Perspective for Space Equipment by Type - Percentage Breakdown of Value Revenues for Communications Satellites, Earth Observation Satellites and Launch Vehicles for the Years 2014, 2024 & 2030
ASIA-PACIFIC
Space Equipment Market Presence - Strong/Active/Niche - Key Competitors in Asia-Pacific for 2024 (E)
Market Analytics
TABLE 47: Asia-Pacific Recent Past, Current & Future Analysis for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles - Independent Analysis of Annual Revenues in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 48: Asia-Pacific Historic Review for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
TABLE 49: Asia-Pacific 16-Year Perspective for Space Equipment by Type - Percentage Breakdown of Value Revenues for Communications Satellites, Earth Observation Satellites and Launch Vehicles for the Years 2014, 2024 & 2030
REST OF WORLD
TABLE 50: Rest of World Recent Past, Current & Future Analysis for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles - Independent Analysis of Annual Revenues in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 51: Rest of World Historic Review for Space Equipment by Type - Communications Satellites, Earth Observation Satellites and Launch Vehicles Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
TABLE 52: Rest of World 16-Year Perspective for Space Equipment by Type - Percentage Breakdown of Value Revenues for Communications Satellites, Earth Observation Satellites and Launch Vehicles for the Years 2014, 2024 & 2030
IV. COMPETITION
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