Spacecraft Market Size Worth USD 10.4 Billion By 2032 | Growth Rate (CAGR) of 5.7%

Spacecraft Market by Type, by End Use Industry, by Component, by Application : Global Opportunity Analysis and Industry Forecast, 2024 - 2033.

WILMINGTON, DE, UNITED STATES, September 4, 2025 /EINPresswire.com/ -- Spacecraft market size was valued at $5.9 billion in 2022, and is estimated to generate $10.4 billion by 2032, and growing with a CAGR of 5.9% from 2023 to 2032.

The spacecraft market is projected to witness substantial global growth, driven by reusable spacecraft technology development. The expanding space economy supported by falling launch costs as well as improving spacecraft manufacturing techniques using modular designs and 3D printing promises to transform demand dynamics through this decade. Defense agencies are also embracing lower cost small satellites for tactical needs and procuring modernized assets.

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The market is governed by factors such as the increase in investment in space exploration missions by governments and private companies, surge in space exploration missions, and development of reusable spacecraft technology, which positively impact the market growth. However, factors such as high development and manufacturing costs, and complex regulatory environment hinder the market growth. On the contrary, the increase in spacecraft infrastructure development projects, and increase in adoption of 3D printing for rapid manufacturing are the factors expected to offer growth opportunities during the forecast period.

There has been rising interest and investment recently into developing space infrastructure assets such as orbital habitats, propellant depots, space-based solar power networks, satellite servicing depots, and assembly facilities to expand economic activity involving commercial space. NASA has plans for a lunar Gateway orbital habitat supporting long term human presence on the moon. Meanwhile SpaceX has proposed deploying satellites providing continuous solar energy beamed wirelessly to Earth receivers.

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In September 2023, India launched its first space mission to observe the sun from a location known as L1, which is roughly 1.5 million kilometers (930,000 miles) from Earth. The mission was intended to be a study mission. The Aditya-L1 spacecraft lifted off from the Sriharikota space center in southern India. According to the Indian Space Research Organization, the spacecraft is outfitted with seven payloads intended to investigate the sun's corona, chromosphere, photosphere, and solar wind, among other aspects.

In September 2020, Chinese experimental reusable spacecraft, launched into orbit, successfully returned to a designated site. This accomplishment is expected to lead to more cost-effective round trips to space. The spacecraft was deployed into orbit by the Long March 2F, a family of rockets with a history of transporting Shenzhou spacecraft into orbit for both crewed and uncrewed missions. Major developments in India and China, coupled with increased investments drive the market in the region.

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Key players operating in the global spacecraft industry include SpaceX, Northrop Grumman Corporation, Boeing Company, Airbus, Lockheed Martin Corporation, Sierra Nevada Corporation, Thales, Maxar Technologies, OHB SE, and Blue Origin Enterprises, L.P.

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