by The global Space Capsule Market is estimated to be valued at US$ 4.73 Billion in 2023 and is expected to exhibit a CAGR of 12.6% over the forecast period 2023 – 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Space Capsules are spacecraft which are used to transport astronauts or cargo to and from spacecraft such as space stations, space planes, or planetary destinations. Space capsules allow for re-entry and safe return of humans and property from low Earth orbit and beyond.
Market key trends:
One of the key trends in the space capsule market is the development of reusable space vehicles. Manufacturers such as SpaceX and Blue Origin are developing reusable space capsules like Dragon 2 and New Shepard capsule respectively. Reusability helps reduce launch costs significantly. SpaceX’s Falcon 9 booster, for example, can be reflown and reused, thereby drastically cutting down launch costs. This has made space more accessible and promoted commercial space activities.
Segment Analysis
The global Space Capsules Market Demand is segmented into Crew capsule and Cargo capsule. The crew capsule segment dominated the market in 2023 and is expected to continue its dominance during the forecast period. Crew capsules are designed to carry human passengers into space and hence witness high demand from space agencies across the globe for human spaceflight missions.
Key Takeaways
The global Space Capsule market is expected to witness high growth, exhibiting CAGR of 12.6% over the forecast period 2023 – 2030, due to increasing investments in development of reusable space transportation systems by both public and private entities.
Regional Analysis
The US held the highest share in the global Space Capsule market in 2023 and is expected to continue dominating during the forecast period. Significant presence of major space capsule manufacturers such as SpaceX, Boeing and Sierra Nevada Corp. along with robust government spending by NASA has enabled the US to emerge as the largest market. China and Europe are also growing rapidly in the market with increasing investments in human spaceflight programs.
Key Players
Key players operating in the Space Capsule market are SpaceX, Boeing, Sierra Nevada Corp., Lockheed Martin, Northrop Grumman, Blue Origin, Virgin Galactic, Exos Aerospace, Firefly Aerospace, ULA, Rocket Lab, Vector Launch, Orbex, Relativity Space, Arianespace, IHI Aerospace, Mitsubishi Heavy Industries, Dynetics and Energia. SpaceX is the leading player with its highly successful Falcon 9 and Crew Dragon capsule, while Boeing is developing the CST-100 Starliner capsule.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
