The global deep space exploration and technology market size is expected to reach USD 630.23 Billion in 2028 and register a CAGR of 7.3% during the forecast period, according to latest analysis by Emergen Research. Market revenue growth is primarily driven by factors such as high private funding in the space sector, advancements in Artificial Intelligence (AI) and digital technologies, increasing efforts by various space agencies to engage in deep space exploration missions, and rising interests across the public sector.
The Global Deep Space Exploration And Technology market drivers and restraints Market report provides vital information that prepares market players to give fierce competition to their toughest competitors based on growth, sales, and revenue, among other essential factors. The study has been conducted on the basis of inputs from the industry leaders. Thus, a conscious effort to dive deep and unearth hard to find information pertaining to the growing market landscape and growth prospects over the next few years is clearly visible in the study. The market intelligence report further comprises of discussions about the major vendors operating in the Deep Space Exploration And Technology market drivers and restraints space
The unmanned segment accounted for largest revenue share in 2021 as unmanned missions are more frequently planned for exploration of the moon and for Mars. Moreover, unmanned spacecraft are cheaper and safer to launch and operate. A number of countries opt for unmanned spacecraft missions as a result of such benefits and advantages. Launch of new satellites into orbit are further expected to drive growth of the global unmanned spacecraft market to a major extent during the forecast period.
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A few of the leading players operating in the Deep Space Exploration and Technology market research report are:
Airbus Defense Space, Lockheed Martin Corporation, The Boeing Company, SpaceX, Blue Origin, Northrop Grumman Corporation, Thales Alenia Space, Astrobotic, MAXAR Technologies, Inc., and Sierra Nevada Corporation
Extent of the research:
Segments Covered in this report are:
- Technology Mode Outlook (Revenue, USD Billion; 2021–2028)
- Rockets
- Landers
- Robots
- Satellites
- Orbiters
- Application Outlook (Revenue, USD Billion; 2021-2028)
- Moon Exploration
- Transportation
- Orbital Infrastructure
- Mars Exploration
- Subsystem Outlook (Revenue, USD Billion; 2021-2028)
- Propulsion System
- Chemical
- Non-chemical
- Navigation Guidance System
- Command Control System
- Others
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Assessing the contemporary market dynamics, the statistical survey report has also demonstrated the latest pivotal advancements and market participants based on a critical assessment of the same. The study draws accurate predictions for the business to assist consumers plan their future business moves after gaining a fair perspective of the future sector.
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- Some Key Highlights From the Report
- On 9 April 2022, SpaceX launched first all-private crew for to the International Space Station. The flight was termed as a milestone in commercialization of spaceflight, and is a result of partnership between Space X, Axiom, and NASA. NASA furnished the launch site and will also take responsibility of the astronauts as they start their eight-day mission of biomedical and science research while the spaceflight will be in orbit.
- North America accounted for largest revenue share in 2021 and is expected to maintain its dominance over other regional markets during the forecast period. Robust revenue growth can be attributed to increase in space budget by NASA and high investments by private companies. Additionally, presence of a number of private companies such as The Boeing Company, Lockheed Martin Corporation, SpaceX, and Blue Origin in the U.S. are focusing on making large investments in spacecraft technologies and initiatives. This coupled with major government spending is expected to continue to support North America market revenue growth during the forecast period.
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