Global Space Economy Market is Segmented By Type (Satellite Manufacturing & Launching, Ground Stations & Equipment, Space Launch Services, Satellite Services, Space Insurance, Others), By Orbit (LEO, MEO, GEO, Beyond GEO), By End User (Commercial, Government & Military, Consumer, Others), By Application (Communications, Earth Observation & Remote Sensing, Technology Development, Navigation & Space Science, Others), By Payload (Communication, Imaging, Navigation, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa). The report offers the value (in USD Billion) for the above-mentioned segments.
Market Size in USD
CAGR11.5%
Study Period | 2023 - 2030 |
Base Year of Estimation | 2022 |
CAGR | 11.5% |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Market Concentration | High |
Major Players | SpaceX, Boeing, Lockheed Martin , Northrop Grumman , Airbus |
The Space Economy Market size is expected to be valued at US$ US$ 518.48 billion in 2023 and is expected to reach US$ 1,110.84 billion by 2030, grow at a compound annual growth rate (CAGR) of 11.5% from 2023 to 2030.
Global Space Economy Market Analysis
The space economy encompasses a wide range of space-enabled products and services including satellite manufacturing and launching, ground stations, space launch services, satellite services, space insurance, space tourism, space mining and more. The increasing adoption of space-based services like broadband internet, real-time earth observation, and satellite navigation is driving the growth of the global space economy.
Key drivers include Declining Cost of Space Access, Growth in Commercial Space Industry, Satellite Mega-Constellations,The Space Economy Market is segmented by by type, orbit, end-user, application, payload, and region By Type, the satellite manufacturing & launching segment accounted for the largest share. The increasing deployment of small satellites for remote sensing, communication, and other applications is driving the growth of this segment.