NEW
YORK, June 26, 2024 /PRNewswire/ -- The global
spacesuit market size is estimated to grow by USD 231.1 million from 2024-2028, according
to Technavio. The market is estimated to grow at a CAGR of
9.45% during the forecast period. Implementation of
3D printing technologies is driving market
growth, with a trend towards emergence of space travel
concept. However, high development costs poses a
challenge. Key market players include Axiom Space Inc., David Clark
Co., Global Effects Inc., ILC Dover LP, Oceaneering International
Inc., Osterreichisches Weltraum Forum, PACIFIC SPACEFLIGHT, RTX
Corp., Rostec, Sure Safety (India)
Ltd., and The Boeing Co..
Get a detailed analysis on regions, market
segments, customer landscape, and companies- View the
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Spacesuit Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
9.45%
|
Market growth
2024-2028
|
USD 231.1
million
|
Market
structure
|
Concentrated
|
YoY growth 2022-2023
(%)
|
8.42
|
Regional
analysis
|
North America, Europe,
APAC, Middle East and Africa, and South America
|
Performing market
contribution
|
North America at
58%
|
Key
countries
|
US, Russia, China, UK,
and Canada
|
Key companies
profiled
|
Axiom Space Inc., David
Clark Co., Global Effects Inc., ILC Dover LP, Oceaneering
International Inc., Osterreichisches Weltraum Forum, PACIFIC
SPACEFLIGHT, RTX Corp., Rostec, Sure Safety (India) Ltd., and The
Boeing Co.
|
Market Driver
The global spacesuit market is poised for growth due to
increasing investments from major vendors such as SpaceX, Boeing,
Virgin Galactic, and Airbus. With the rising demand for space
tourism, these companies are expanding their offerings and
developing advanced technologies. For instance, Boeing invested
USD20 million in Virgin Galactic,
while Blue Origin has invested over USD2.5
billion in the New Glenn rocket. These developments will
drive the growth of the spacesuit market during the forecast
period.
The spacesuit market is currently experiencing significant
growth due to various space exploration initiatives. Key components
of spacesuits include materials for extreme temperature regulation,
such as insulation and heat shields. Advanced technologies like
articulated joints and lightweight materials are trending, enabling
greater mobility and comfort for astronauts. Activity sensors and
connectivity technology are also important, allowing real-time
monitoring and communication. The market is competitive with key
players focusing on innovation and cost-effectiveness. The future
of spacesuits lies in their ability to adapt to diverse
environments and support extended missions.
Research report provides comprehensive data on
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Report
Market Challenges
- The spacesuit market faces challenges due to high development
costs and minimal product differentiation. With a few vendors
dominating the market, new entrants are limited. The profit margin
is low due to high production costs. The risks of developing
new-generation spacesuits are high, as the costs of implementing
new designs are complex. Flight tests for trials are expensive and
time-consuming, potentially hindering market growth. Despite future
demand, the market may remain saturated with few players and
limited product development initiatives.
- The spacesuit market faces several challenges in providing
advanced technology and comfort for astronauts. Extravehicular
activities (EVAs) require suits that can withstand extreme
temperatures and pressures. Lightweight materials are crucial for
mobility, but they must also provide adequate protection. The
complexity of suit systems, including communication and life
support, adds to the challenge. Commercially available
technologies, such as conductive materials and advanced filtration
systems, are essential for suit development. The need for
customization and durability also presents challenges. Soft
materials like fabric and composite materials are used for comfort
and flexibility, but they must be strong enough to withstand the
rigors of space travel. The combination of these factors
necessitates continuous research and innovation in the spacesuit
industry.
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challenges - Request a sample report!
Segment Overview
This spacesuit market report extensively covers market
segmentation by
- Product
- 1.1 Hybrid suits
- 1.2 Hard-shell suits
- 1.3 Soft-shell suits
- Type
- 2.1 EVA suits
- 2.2 IVA suits
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Hybrid suits- The spacesuit market is
experiencing growth due to the adoption of hybrid suit designs.
These suits combine the benefits of hard and soft shells, offering
improved maneuverability and durability. NASA's EMU suit on the ISS
is an example, featuring soft-shelled lower limbs and a hard
fiberglass upper torso. Hybrid suits also integrate advanced
features such as dexterity enhancement, sensor integration, and
reparability. The integration of full-body soft-robotic components
into gas-pressurized spacesuits is predicted to further increase
demand for these suits during the forecast period.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Spacesuit Market encompasses the design, production, and
distribution of Extravehicular Mobility Units (EMUs) and
Intravehicular Activity suits (IVAs) for spaceflight missions.
These suits are essential for astronauts during EVA (Extravehicular
Activity) and IVA (Intravehicular Activity) on the International
Space Station (ISS) and Space Shuttles. Lightweight spacesuits are
increasingly popular for crewed commercial spaceflights, enabling
greater mobility and comfort. Advanced technologies such as Wi-Fi,
GPS, and augmented reality technology are integrated into
spacesuits, enhancing communication and functionality.
Communication carrier assemblies and smart glasses are also
utilized to improve communication and situational awareness during
spacewalks. Spacesuit designers continue to innovate, focusing on
lightweight materials and advanced features to meet the evolving
needs of the space industry.
Market Research Overview
The Spacesuit Market encompasses the design, production, and
distribution of advanced protective gear used for space
exploration. These suits are essential for astronauts to withstand
extreme temperatures, pressures, and other hazardous conditions in
space. The market is driven by the increasing demand for space
travel and exploration, leading to significant advancements in suit
technology. Key features of modern spacesuits include flexibility,
lightweight materials, and advanced life support systems. The
market also caters to various applications, such as spacewalks,
re-entry, and extravehicular activities. The future of the
Spacesuit Market lies in continuous innovation and development to
meet the evolving needs of space exploration.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Hybrid Suits
- Hard-shell Suits
- Soft-shell Suits
- Type
-
- Geography
-
- North America
- Europe
- APAC
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio