Technavio, a tech-focused market research firm, has published a new report on the global spacesuit market, which is expected to grow at a CAGR of more than 7% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global spacesuit market into the following key regions: the Americas, APAC, and EMEA.
Source: Technavio
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Top three contributors for the global spacesuit market are elaborated below
Spacesuit market in the Americas: The US, Canada, Brazil, and Mexico are the major markets for space-based programs. These countries have advanced infrastructures and are involved in various space programs. Emerging developments in space technology, concentrated around the US, are expected to nurture the spacesuits market during the forecast period, while channelizing substantial investments both for development and procurement of new-generation spacesuits.
According to Moutushi Saha, a lead analyst at Technavio, specializing in research on space, “NASA, along with private entities, is developing new manned spacecraft and reusable satellite launch vehicles that will be able to transport astronauts and private citizens to space in successive occasions. For instance, a US-based technology company, SpaceX, is engaged in the development of reusable space launch vehicles that can be used for multiple satellite launch missions.”
Spacesuit market in EMEA: The UK, France, Germany, and Russia are instrumental in the growth of the European satellite and space exploration market both in terms of finance and innovation. Furthermore, the ESA largely contributes to the development of satellite-based infrastructure in EMEA. Further, ESA and ROSCOSMOS have been in collaboration with NASA in various manned space missions and will have partnerships for similar missions in the future. Such efforts in the coming years will simultaneously necessitate the development and procurement of advanced spacesuits during the forecast period.
Spacesuit market in APAC: Major countries, including China, India, Australia, Japan, Taiwan, and South Korea, project considerable investment in enhancing their technological capabilities in both, conventional and manned satellites for addressing various national concerns. In addition, there has been significant focus laid down by the state-owned space agencies to develop indigenously key space-related technologies. The increased focus on space missions in APAC is anticipated to propel the demand for spacesuits in the region by 2021
The leading vendors operating in the global spacesuits market are:
- Boeing
- David Clark
- ILC Dover
- NPP Zvezda
- Oceaneering International
Other prominent vendors in the market include Austrian Space Forum (OeWF), Final Frontier Design, Pacific Spaceflight, and UTC Aerospace Systems.
A more detailed analysis is available in the Technavio report titled, ‘Global Spacesuits Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Low-Cost Satellite Market 2017-2021
- Global Commercial Satellite Imaging Market 2017-2021
- Global Nano and Microsatellite Market 2016-2020
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