Spacecraft Market Report 2025

This Spacecraft Market report delivers an in-depth analysis of the market’s key characteristics, including size, growth potential, and segmentation. It provides a detailed breakdown of the market across major regions and leading countries, highlighting historical data and future growth projections. The report also examines the competitive landscape, market share insights, emerging trends, and strategic developments shaping the market.

The spacecraft market size has grown strongly in recent years. It will grow from $6.4 billion in 2024 to $6.81 billion in 2025 at a compound annual growth rate (CAGR) of 6.4%. The growth during the historic period can be attributed to increasing advancements in space exploration technology, government space programs, the Cold War space race, growing satellite communication needs, the rise of commercial space ventures, military applications, and international collaborations in space missions.

The spacecraft market size is expected to see strong growth in the next few years. It will grow to $8.64 billion in 2029 at a compound annual growth rate (CAGR) of 6.1%. The growth during the forecast period can be attributed to the rise of private space companies, increasing demand for satellite-based internet services, advancements in reusable rocket technology, the growth of space tourism, expanded planetary exploration missions, climate monitoring from space, and investments in space-based defense systems. Major trends in the forecast period include advancements in small satellite technology (CubeSats) for communication and Earth observation, the development of reusable spacecraft to reduce costs, an expanding focus on deep space exploration, increasing partnerships, and investments in space infrastructure for defense and security purposes.

The growing expenditure in the space sector is expected to drive the expansion of the spacecraft market in the future. The space sector includes industries and activities related to the development, exploration, and commercialization of space, such as satellite services, launch systems, and space exploration. The increasing investment in the space sector is fueled by technological advancements, rising commercial interest, national security concerns, and the potential for economic benefits from space-based activities. Spacecraft play a key role in this growth due to the high costs associated with research, development, and manufacturing, as well as the growing demand for space exploration and satellite deployment. For example, in July 2023, The Space Foundation, a US-based nonprofit organization, reported that the space economy reached $570 billion, a 7.4% increase from the $531 billion total in 2022. This highlights how the rising expenditure in the space sector is driving the growth of the spacecraft market.

Companies in the spacecraft market are focusing on innovative technologies, such as advanced solar sail technology, to enhance propulsion efficiency, reduce fuel consumption, and enable longer-duration space missions. Solar sail technology uses large, reflective sails to capture and harness sunlight (photons) to generate thrust. For instance, in April 2024, the National Aeronautics and Space Administration (NASA) launched solar-powered spacecraft that harness solar energy to power their systems and operations in space. These spacecraft are equipped with high-efficiency solar panels that can generate power even in the low-light conditions of deep space. Their lightweight design, combined with advanced electric propulsion systems, allows them to travel farther and more efficiently than traditional chemically powered spacecraft.

In September 2024, Redwire Corporation, a US-based aerospace manufacturer and space infrastructure technology company, acquired Hera Systems Inc. for an undisclosed amount. This acquisition aims to expand Redwire’s portfolio of space-based services, enhance satellite deployment efficiency, and strengthen its position in the growing small satellite market. Hera Systems Inc. is a US-based company specializing in spacecraft manufacturing for national security space missions.

Major players in the spacecraft market are Boeing Defense, Space & Security, Airbus SE, RTX Corporation, Lockheed Martin Space Systems Company, Northrop Grumman Corporation, Mitsubishi Heavy Industries Ltd., Space Exploration Technologies Corporation, Israel Aerospace Industries Ltd., Thales Alenia Space S.A.S., Maxar Technologies Inc., Blue Origin LLC, RUAG Space AB, Sierra Nevada Corporation, OHB SE, Rocket Lab USA Inc., Planet Labs PBC, Firefly Aerospace Inc., Astroscale Holdings Inc., Korea Aerospace Research Institute, Indian Space Research Organisation, NanoAvionics LLC, Virgin Galactic Holdings Inc., and Ball Aerospace & Technologies Corp.

North America was the largest region in the spacecraft market in 2024. The regions covered in spacecraft report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the spacecraft market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A spacecraft is a vehicle or device designed for travel or operation in outer space, used for purposes such as satellite communication, Earth observation, space exploration, and scientific research. Spacecraft can be either crewed or uncrewed, and they are equipped with systems to navigate, communicate, and perform tasks in the harsh environment of space.

The main types of spacecraft include manned and unmanned spacecraft. Manned spacecraft are specifically designed to transport humans into space and support their lives throughout the mission. These spacecraft provide the necessary environment for astronauts to live and work during their missions. The various components of manned spacecraft include power systems, thermal control systems, propulsion systems, payloads, communication systems, and guidance and navigation systems. These spacecraft are used by various end users, such as military, commercial, and defense sectors.

The spacecraft market research report is one of a series of new reports that provides spacecraft market statistics, including spacecraft industry global market size, regional shares, competitors with a spacecraft market share, detailed spacecraft market segments, market trends, and opportunities, and any further data you may need to thrive in the spacecraft industry. This spacecraft research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The spacecraft market consists of sales of space probes, crewed spacecraft, space stations, space robotics and rovers, and cargo spacecraft. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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