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 research report provides an in-depth evaluation of the Global Deep space exploration and technology market drivers and restraints Market and helps the market participants intensify their footprints in the industry. The report gives a detailed analysis concentrated on the critical market dynamics such as drivers, restraints, trends, and growth opportunities to assist businesses to prepare for any challenges they might encounter in the forecast period.
Success of space exploration missions are dependent on the unique capabilities of humans, and quick decision making, cognitive adaptability, and versatility are critical requirements in such activities. Robots are also used to achieve exploration goals that can benefit humankind. Deep space exploration has led to immense technological and scientific advancements in health and medicine, transportation, consumer goods, energy and environment, information technology, and industrial applications. These are other key factors expected to drive revenue growth of the market going ahead.
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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.
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.
- Some major companies in the global deep space exploration and technology market 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.
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Emergen Research has segmented the global deep space exploration and technology market based on technology mode, application, subsystem, mission type, end use, and region:
- Technology Mode Outlook (Revenue, USD Billion; 2021–2028)
- Application Outlook (Revenue, USD Billion; 2021-2028)
- Moon Exploration
- Orbital Infrastructure
- Mars Exploration
- Subsystem Outlook (Revenue, USD Billion; 2021-2028)
- Propulsion System
- Mission Type Outlook (Revenue, USD Billion; 2021-2028)
- Manned Mission
- Unmanned Mission
- End Use Outlook (Revenue, USD Billion; 2021-2028)
- Government Space Agencies
- Regional Outlook (Revenue, USD Billion; 2021–2028)
- North America
- South Korea
- Rest of APAC
- Rest of LATAM
- Saudi Arabia
- South Africa
- Rest of MEA
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Table of Contents:
Chapter 1 includes an introduction of the global Deep Space Exploration and Technology Market, along with a comprehensive market overview, market scope, product offerings, and an investigation of the market drivers, growth opportunities, risks, restraints, and other vital factors.
Chapter 2 offers an in-depth analysis of the key manufacturers engaged in this business vertical, along with their sales and revenue estimations.
Chapter 3 elaborates on the highly competitive terrain of the market, highlighting the key manufacturers and vendors.
In Chapter 4, our team has fragmented the Deep Space Exploration and Technology Market on the basis of regions, underscoring the sales, revenue, and market share of each region over the forecast timeline.
Chapters 5 and 6 have laid emphasis on the Deep Space Exploration and Technology Market segmentation based on product type and application
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