High private funding, increasing efforts by various space agencies for deep space exploration missions and growing public sector interest in space sector

VANCOUVER, BC, CANADA, September 20, 2022 /EINPresswire.com/ -- 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.

Advancements in deep space exploration and technology is driving an increasing number of missions being planned by various space agencies to investigate celestial bodies such as Earth’s moon, Mars surface, Jupiter’s moon, Saturn’s moon, the sun, and asteroids.

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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This 265-page deep space exploration and technology market report examines the deep space exploration and technology market in detail and provides market sizing & outlook by technology and by region until 2026. The report also highlights key use cases, leading industry suppliers, adoption strategies, detailed case studies, disruptive trends, and other insights related to deep space exploration and technology

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)

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

Mission Type Outlook (Revenue, USD Billion; 2021-2028)

Manned Mission

Unmanned Mission

End Use Outlook (Revenue, USD Billion; 2021-2028)

Government Space Agencies

Commercial

Military

Regional Outlook (Revenue, USD Billion; 2021–2028)

North America

U.S.

Canada

Mexico

Europe

U.K.

Germany

France

Italy

Spain

BENELUX

Asia-Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

Israel

South Africa

Turkey

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

Thank you for reading our report. Please get in touch with us if you have any query regarding the report or its customization. Our team will ensure the report is best suited to your needs.

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About Us:

At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

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Emergen Research
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Deep Space Exploration and Technology Market Size Worth USD 630.23 Billion in 2028

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