FREMONT, Calif., Feb. 16, 2023 /PRNewswire/ — As more service providers are entering the market with cost-effective services, the cost of the sub-orbital missions is expected to decrease in the forecast period.
BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Sub-Orbital Testing Services Market – A Global and Regional Analysis.
According to this study, the global sub-orbital testing services market was valued at $122.4 million in 2022 and is projected to reach $178.1 million by 2032.
The following factors are responsible for the increase in demand for sub-orbital testing services:
Need for microgravity testing services
Limitations of terrestrial testing service capabilities
The detailed study is a compilation of 93 market data tables and 20 figures spread through 146 pages.
Check out the detailed table of content here
https://bisresearch.com/requestsample?id=1437&type=toc
Analyst’s Take on the Market Projection
According to Arunkumar Sampathkumar, Principal Analyst, BIS Research, “Multiple small-satellite operators are entering the space markets, and many of them are utilizing commercial-off-the-shelf components which are not necessarily built for space applications. This imposes a relatively higher risk of system failure on those missions. While microgravity testing can help them evaluate their systems before launch, the prohibitive cost of suborbital flights has kept them away from this market. However, multiple launch service providers are developing new platforms to provide affordable microgravity test opportunities to the space market participants. With the launch costs coming down, this market is expected to grow over the long term.”
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Payload Capacity Segment of 501 Kg and Above to Witness Fastest Growth
The market of sub-orbital testing services has witnessed many successful sub-orbital launches carrying a payload to be tested in high-quality microgravity conditions. The companies offering sub-orbital testing services focus on high mission frequency and low costs. There are companies that are developing reusable sub-orbital platforms such as sub-orbital reusable launch vehicles and fixed-winged parabolic platforms for operating multiple times.
As per the study conducted by BIS Research, due to the more payload capacity offered by the companies in developing larger sub-orbital launch platforms, the higher segment of 501 kg and above payload capacity is expected to witness a gradual growth during the forecast period of 2022-2032.
Major Existing Industry Leaders in the Sub-Orbital Testing Services Market
The companies that are profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are Aerostar, Blue Origin, bluShift Aerospace, Inc., Dawn Aerospace, Equatorial Space Inc., Exos Aerospace Systems & Technologies, Inc., Interstellar Technologies Inc., Near Space Corporation, PD AeroSpace, ltd., PLD Space, Skyrora Limited, SpinLaunch, UP Aerospace, Virgin Galactic, and World View Enterprises, Inc.
Recent Developments in the Global Sub-Orbital Testing Services Market
In November 2022, Virgin Galactic signed an agreement with Axiom Space, a commercial space company, to provide microgravity research and training. The company would provide Axiom’s astronauts a trip to the sub-orbit region to train them for future long-duration space missions.
In July 2022, Virgin Galactic signed a contract with Boeing Subsidiary Aurora Flight Sciences to partner in developing the company’s new motherships. The Aurora Flight services would build the two motherships capable of conducting 200 launches a year, carrying Virgin’s Spaceship to an altitude of 50,000 and releasing it.
Additionally, World View Enterprises, Inc, under collaboration with the National Aeronautics and Space Administration (NASA), will provide high-altitude balloon services to the winner of NASA’s TechRise Student Challenge. The company will carry students’ scientific/technology experiments to the edge of space on its stratospheric balloon platform.
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About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them with specific and actionable insights on novel technology markets, business models, and competitive landscapes.
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