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The future of the Space Industry

The space launch services industry worldwide is expected to reach a projected revenue of US$ 41,310.4 million by 2030. A compound annual growth rate of 15.6% is expected of the worldwide space launch services industry from 2024 to 2030.

The evidence collectively points to a current constraint in launch capacity that is expected to persist for several years, even as new launch vehicles enter the market. The rapid growth in satellite deployments, particularly for mega-constellations, has created a demand that current launch providers struggle to meet. While new vehicles are in development, their delayed introductions and the time required to reach full operational capacity mean that the launch shortage is likely to continue in the near to medium term.

Sub Sectors

The thriving space sector, projected to grow by 186% by 2030, presents unique opportunities for economic growth, skill development, and technological advancements, creating new industries and high-value jobs. These sub-sectors also allow countries to leverage their geographic advantages, such as proximity to the equator, for efficient launch services. 

earth observation

space tourism

satellite communication

space mining

satellite launch

space R&D

space exploration

space debris management

space manufacturing

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