Global New Space Market Size & Analysis – Forecasts To 2026 By Application (Launches, Space Tourism, Energy Harnessing, Others) By End Use (Aerospace & Defense, Medical, Railways, Energy & Power, Others) By Product (Space Coolers, Compressors, Detector Systems, Superconductive Components, Others) By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa) End-Use Landscape; Vendor Landscape and Competitive Landscape
Global New Space Market Insights:
The global new space market is projected to grow at a CAGR of 5.97% from 2020 to 2026. High levels of private funding, advances in technology and growing public-sector interest in space industry are some of the major factors expected to propel the market growth during the forecast period. Growing development of reusable rockets and growing airplane-borne rocket launchers are also driving the market growth.
Global Space Economy:
Global New Space Market: By Application
On the basis of application, the market is segmented into launches, space tourism, and energy harnessing, among others. The launches segment is estimated to hold the largest market. However, the space tourism segment is estimated to grow at the highest CAGR of 8.10% during the coming years.
Global New Space Market: By End Use
On the basis of end users, the market is segmented into Aerospace & Defense, Medical, and Railways, among others. The aerospace & defence segment is estimated to hold the largest market share. The segment is estimated to grow at the highest CAGR of 7.08% during the coming years.
Global New Space Market: By Region
The North America New Space market is expected to dominate the global market. The region is projected to grow at the highest CAGR of 6.17% during the forecast period.
Share of Military Expenditure of Top 15 Countries In 2018 (IN %)
Company Market Share Analysis & Competitive Landscape
SpaceX, Zero 2 Infinity, Blue Origin, Llc, Nanoracks, Planet Labs, Absolut Systems, Made In Space, Ad Astra Rocket Company, Nanoavionics, and Sierra Nevada Corporation are some of the key players operating in this market space.
Please note: The above list is not an exhaustive list of companies profiled in the report.
Some of the Strategic Initiatives undertaken by SpaceX in 2020 include:
In July 2020, SpaceX’s Falcon 9 launched the ANASIS-II mission from Space Launch Complex 40 (SLC-40) at Cape Canaveral Air Force Station in Florida.
In June 2020, SpaceX's Falcon 9 successfully lifted off, carrying the Space Force's GPS III Space Vehicle 03 mission from Space Launch Complex 40 (SLC-40) at Cape Canaveral Air Force Station in Florida.
In June 2020, SpaceX launched 58 Starlink satellites, three Planet SkySats on Falcon9.
In February 2020, Space Adventures announced plans on crew dragon to take private people into orbit. The Crew Dragon vehicle would be launched from LC-39A with up to four tourists on board, and would spend up to five days in a low-earth orbit with an apogee of over 1000 km.
Please note: Similar strategic initiatives have been covered for all the companies operating in the market space.
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The global New Space Market has been studied from the year 2016 till 2026. However, the CAGR provided in the report is from the year 2020 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the New Space Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies, and customer analytics.
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