LONDON, UK / ACCESSWIRE / February 17, 2022 / As technology expands the boundaries and capabilities of space exploration, the market for orbital launch services is quickly growing. The orbital launch services market refers to the support and technologies that enable the launch and transportation of goods into space. While today the market for orbital launch services is valued at $9.89B, over the next five years, the market is expected to grow to $32.41B if the level of annual investment growth of 15.7% is maintained per year, according to Allied Market Research.
Helping drive growth and innovation in the sector is visionary, entrepreneur, and business leader, Max Polyakov, who has dedicated much of his career to space exploration through investment fund Noosphere Ventures, which invests and develops companies in the space industry, and Firefly Aerospace, a company that develops launch vehicles for commercial launches into orbit. Max Polyakov recently shared his thoughts on the main sectors of the orbital launch services market and why these important sectors are poised for growth.
"I firmly believe that space technologies can play a powerful role in addressing global problems here on Earth," remarked Max Polyakov. "The advancement of the orbital launch services market is key to furthering commercial space launches and unlocking the solutions this can present."
Key Segments of Orbital Launch Space Market
Given the complexity of the orbital launch space market, it is important to understand the various segments which comprise it.
One key segment of the market is the payload segment, which refers to the amount of cargo a launch vehicle can take into space. This segment focuses on the services necessary to launch satellites, cargo, spaceships and modules, stratollites, and test probes into orbit. Currently, satellites account for 45% of annual space launches, making this segment vital to the overall orbital launch services market.
"The payload segment is critical as it serves as the basis of space delivery," explained Max Polyakov. "As there is continued innovation to improve the mass of launchers and amount of fuel required to launch, we expect this segment to sustain strong growth and performance."
In addition to payload, another key segmentation characteristic of the launch market is level of near-Earth orbit, which specially focuses on the orbital altitudes to which specific equipment, such as satellites and cargo, are delivered. Within this segment, there are three main orbital delivery areas. Low Earth Orbit refers to an orbital altitude between 200 and 2,000 KM above sea level, while Middle Earth Orbit ranges from 2,000 to 20,000 KM above sea level. The last area is Geostationary Orbit and Geosynchronous Orbit, both of which are located at 35,786 km above sea level. Of note, in a Geostationary Orbit, the satellite moves synchronously with the Earth's rotation speed and in the same direction, meaning that the satellite always remains in the same location over the Earth. Conversely, in Geosynchronous Orbit, the satellite is not positioned around a single point on Earth and can progress along any chosen orbital path.
"Given the low fuel consumption requirements for vehicles launched in low earth orbit, as well as moderate manufacturing costs of launch vehicles, there is significant energy and focus on this area of the market," said Max Polyakov. "In fact, many of today's space startups are focused on this segment due to the decreased investment risks and financial burdens it provides."
Lastly, another perspective through which to view this market is launch vehicle type. Lightweight launch vehicles carry less than a 2-ton payload, with companies such as Firefly Aerospace and Arianespace leading this segment. Next are medium-duty launch vehicles, which manage payloads from 2 to 20 tons. For heavier loads, there are heavy-duty launch vehicles, such as the Ariane 5 and Falcon 9, to accommodate cargo weighing 20 to 50 tons, and super-heavy launch vehicles, including Falcon Heavy and Saturn-5, which service payloads above 50 tons.
Breaking down the various segments of the orbital launch services market makes clear its immense value and growth potential. In fact, research from Allied Market Research predicts continued positive growth for the market, especially considering the almost three-fold increase predicted for the number of satellites, cargo, manned spacecraft, and modules launched into orbit.
"There is ground-breaking innovation taking place in this market, which will not only further expand the boundaries of space exploration as we know it today, but also elevate the space industry as a value creator and world-changing sector," said Max Polyakov.
SOURCE: Max Polyakov