Lunar Exploration Market Report 2025

The lunar exploration market size has grown rapidly in recent years. It will grow from $11.39 billion in 2024 to $12.52 billion in 2025 at a compound annual growth rate (CAGR) of 10%. The growth during the historic period can be credited to increased government investment in space programs, a strategic national focus on maintaining a lunar presence, growing backing from space regulatory authorities, concerns over militarization prompting a stronger space presence, and geopolitical rivalry for dominance in space leadership.

The lunar exploration market size is expected to see strong growth in the next few years. It will grow to $18.1 billion in 2029 at a compound annual growth rate (CAGR) of 9.6%. The projected growth during the forecast period can be attributed to the expanding space economy, the generation of employment in high-tech industries, the rising aerospace manufacturing sector, the commercialization of space-based data services, and the growing involvement of small and medium-sized enterprises. Key trends expected during this period include progress in propulsion systems, the emergence of reusable launch vehicles, the miniaturization of payload elements, enhanced autonomy in spacecraft navigation, and the integration of artificial intelligence (AI) and robotics in surface operations.

The growing interest in space exploration is anticipated to drive the expansion of the lunar exploration market in the coming years. Space exploration involves the pursuit of scientific discoveries, technological progress, and commercial ventures beyond Earth through missions, research, and various space-based activities. The rise in these activities is fueled by the increasing demand for advanced communication and Earth observation satellites, which play a key role in global connectivity, environmental monitoring, and national security. These advancements directly support lunar exploration by improving spacecraft technologies, which facilitate more precise and longer-lasting missions to the Moon. They contribute to the development of enhanced navigation, communication, and landing systems, boosting overall mission effectiveness and the potential for scientific breakthroughs. For example, according to Novaspace, a space consulting firm based in France, government spending on space exploration amounted to $27 billion in 2024 and is projected to rise to nearly $31 billion by 2034. As a result, the heightened focus on space exploration is contributing significantly to the growth of the lunar exploration market.

Leading companies in the lunar exploration sector are emphasizing the development of innovative solutions such as global positioning systems (GPS) to enable autonomous spacecraft operations. GPS technology relies on satellite signals to provide precise information about location, movement, and time across the globe. In June 2025, GMV, a technology firm based in Spain, introduced the LUPIN GPS system to enhance lunar navigation. LUPIN delivers a significant advancement by providing real-time positioning capabilities on the Moon without depending on navigation systems based on Earth. This independence allows astronauts and robotic vehicles to operate more effectively and safely, especially in areas where Earth-based signals are unavailable, like deep lunar craters and the Moon’s far side. The system also improves the accuracy of mapping difficult regions such as the lunar south pole, which is crucial for upcoming exploration missions and the potential utilization of lunar resources.

In April 2025, Redwire Corporation, an aerospace and defense company headquartered in the United States, formed a partnership with ispace Technologies U.S. Inc. to launch commercial lunar missions. The collaboration is focused on developing and deploying advanced infrastructure on the Moon, including payload delivery systems and surface operations technologies. These innovations aim to support scientific endeavors, the extraction and use of lunar resources, and future human exploration efforts. ispace Technologies U.S. Inc. is a U.S.-based company specializing in lunar payload delivery and surface operations.

Major players in the lunar exploration market are Boeing Co., Lockheed Martin Corp., Airbus SE, Northrop Grumman Corporation, National Aeronautics and Space Administration, Thales Group, SpaceX Corp., Blue Origin LLC, Dynetics Inc., United Launch Alliance L.L.C., Sierra Nevada Corporation, European Space Agency, iSpace Inc., Intuitive Machines Inc., Rocket Lab USA Inc., Tyvak Nano-Satellite Systems, Draper Laboratory, Firefly Aerospace, Astrobotic Technology, Inc, Moon Express Inc., Masten Space Systems Inc., Ceres Robotics Inc., Deep Space Systems, OrbitBeyond Inc., Eta Space, and Lunar Outpost Inc.

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

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the utilities sector, particularly in power generation, grid infrastructure, and renewable energy projects. Higher duties on imported equipment such as turbines, transformers, solar panels, and battery storage systems have increased capital and operational costs for utility providers, forcing them to reconsider project timelines or pass on expenses to consumers through higher energy rates. The water and waste management segments are also affected, with tariffs driving up the cost of essential machinery, piping, and treatment technologies. Additionally, retaliatory tariffs have disrupted global supply chains for critical raw materials like rare earth metals used in clean energy technologies, further complicating the transition to sustainable energy sources. The sector must now prioritize domestic sourcing, digitalization, and efficiency-driven innovations to manage escalating costs while ensuring energy security and regulatory compliance.

Lunar exploration refers to the scientific and technological efforts aimed at studying and understanding the Moon’s physical properties, environment, and its wider importance in space research. It involves missions and activities focused on gaining deeper knowledge about the Moon’s origin, geological characteristics, and its role in the solar system’s history.

The key elements of lunar exploration include spacecraft, launch vehicles, rovers, instruments, and more. Spacecraft are vehicles designed for travel or operation in space, such as orbiters, landers, and modules that carry equipment, instruments, or crews to the Moon. Lunar exploration involves both manned and unmanned missions and is utilized for scientific research, commercial purposes, national defense, and other applications. It serves various end-users, including government agencies, commercial entities, academic institutions, and others.

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

The lunar exploration market consists of revenues earned by entities by providing services such as launch services, lunar landing services, payload delivery, and lunar infrastructure development. The market value includes the value of related goods sold by the service provider or included within the service offering. The lunar exploration market also includes sales of lunar landers, orbiters, rovers, propulsion systems, communication modules, navigation instruments, habitat modules, scientific payloads, and related mission-support technologies. 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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