PUBLISHER: BIS Research Inc. | PRODUCT CODE: 1208353
PUBLISHER: BIS Research Inc. | PRODUCT CODE: 1208353
“Global Sub-Orbital Testing Services Market to Reach $178.1 Million by 2032.”
The global sub-orbital testing services market is estimated to reach $178.1 million in 2032 from $122.4 million in 2022, at a CAGR of 3.82% during the forecast period 2022-2032. The sub-orbital testing service providers have witnessed the demand from the government, research institutions, and growing commercial industry.
The sub-orbital testing services has a long history as government agencies have been using sub-orbital platforms such as sounding rocket to test payload at higher altitude. So, the sub-orbital testing services market was mostly dominated by the end users such as the National Aeronautics and Space Administration (NASA) and European Space Agency (ESA).
Furthermore, in recent years the sub-orbital testing services market has witnessed commercial applications, and private companies have shown their interest in sending their technologies to be tested in the near space environment. Additionally, research institutions and colleges are the major end user that are utilizing the sub-orbital testing services as the government agencies are providing support through its programs such as NASA's Flight Opportunities.
In recent years, the sub-orbital testing services market has witnessed commercial players offering reusable sub-orbital platforms, such as Blue Origin and Virgin Galactic. These platforms can conduct multiple flights with just minor refurbishment required. Hence, the sub-orbital testing services market has emerged with the capability of serving more sub-orbital missions.
Furthermore, the rise in the deployment of small satellites in low Earth orbit (LEO) will generate demand in the sub-orbital testing services market. The small satellites use many commercial-off-the-shelf (COTS) subsystems and components that are usually not space qualified. So, satellite manufacturers/operators will utilize sub-orbital testing services to validate their products.
The global sub-orbital testing services market is observing rising demand across various end users, which drives the development of investments across the sub-orbital launch vehicle platforms. The major challenge in the sub-orbital testing services market is the expensive sub-orbital launches and time-intensive testing process. This leads to fewer customers utilizing the sub-orbital services. Hence, the reusability of sub-orbital platforms can bring down the cost. However, as only some key companies are offering reusable sub-orbital platforms, the pricing power is with service providers owing to less competition.
Furthermore, in the upcoming years, more companies will enter the sub-orbital market and reduce the sub-orbital testing service launch cost. Additionally, the emerging deployment of small satellites will increase the demand for sub-orbital testing services, especially the 1-50 kg satellite mass segment. The 1-50 kg satellites use maximum COTS subsystems and components, which generally are not space qualified. So, the sub-orbital testing service providers will experience greater demand in the forecast period 2022-2032.
North America is expected to dominate the global sub-orbital testing services market during the forecast period. The factor attributing to the growth of this region is the high presence of the key companies highly engaged in developing and demonstrating sub-orbital testing services capabilities in the region.
Following are the drivers for the global sub-orbital testing services market:
Following are the challenges for the global sub-orbital testing services market:
Following are the opportunities for the global sub-orbital testing services market:
The companies that are profiled have been selected based on inputs gathered from primary experts and analysis of the company's coverage, product portfolio, and market penetration.
The top segment players leading the market include established players of sub-orbital testing services that constitute 69% of the presence in the market. Other players include start-up entities that account for approximately 31% of the presence in the market.
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