Space Technology Market Size To Reach $769.7 Billion By 2030

Space Technology Market Growth & Trends

The global space technology market size is anticipated to reach USD 769.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 9.3% from 2025 to 2030. The market has witnessed remarkable growth in the past few years, fueled by advancements in scientific research, technological breakthroughs, and the increasing participation of private companies. The market has experienced rapid growth due to several factors, including the decreasing cost of satellite launches and the emergence of private space companies like SpaceX, which has made space technology (SpaceTech) more accessible and affordable. This has paved the way for an influx of satellite deployments, leading to enhanced global connectivity, improved navigation systems, and expanded Earth’s observation capacities.

Moreover, the increasing demand for satellite-based services, such as telecommunication, broadcasting, weather forecasting, and remote sensing, has driven the expansion of the market. Companies and governments are leveraging satellite technologies to gather valuable data, monitor climate change, manage disaster response, and provide internet connectivity to remote regions. There are numerous opportunities for innovation and commercialization; one promising area is space exploration. Governments and private entities invest in lunar missions to establish a sustainable human presence on the Moon. These efforts include resource utilization, construction of lunar habitats, and scientific research, offering opportunities for companies to develop novel technologies and services to support these missions. 

Space tourism is another burgeoning application area in the global market for space technology (SpaceTech). Companies like Virgin Galactic and Blue Origin have pioneered commercial space travel, aiming to offer suborbital flights to tourists. This development of the space tourism sector has presented numerous opportunities for companies to develop spacecraft, infrastructure, and supporting services for space tourism. Additionally, the market is witnessing an upsurge in demand for small satellites, also known as CubeSats. These miniature satellites offer cost-effective solutions for various applications, including Earth observation, communication networks, and scientific research. Startups and established players are capitalizing on this trend by developing advanced small satellite technologies, opening new avenues for growth and entrepreneurship.

Technological advancements are further propelling the market’s growth. For instance, the development of more efficient propulsion systems, such as ion thrusters and reusable rockets, has significantly reduced the cost of space missions. This has spurred increased investment and participation from the public and private sectors. On the other hand, advancements in miniaturization, sensors, and data processing capabilities have led to the proliferation of nanosatellites and microsatellites. These smaller satellites offer enhanced maneuverability, cost-effectiveness, and rapid deployment options, making them ideal for specific applications.

Advancements in propulsion systems, spacecraft design, and robotics are anticipated to facilitate deep space exploration missions. Such endeavors include crewed missions to Mars, asteroid mining, and robotic exploration of distant celestial bodies. Developing advanced life support systems, radiation shielding, and long-duration space travel technologies is crucial for ambitious missions. Companies like SpaceX, OneWeb, and Amazon’s Project Kuiper deploy mega-constellations of thousands of small satellites to provide global broadband internet coverage.

The satellite will continue to evolve, becoming more capable, versatile, and cost-effective; high-resolution imaging, hyperspectral sensors, and advanced communication systems will enhance Earth’s observation capabilities. Additionally, the integration of artificial intelligence and machine learning algorithms into satellite data analysis is projected to enable real-time insights and predictive analytics in the space technology (SpaceTech) industry.

Space-based solar power involves capturing sunlight in space and transmitting it to Earth via microwaves or lasers. This technology could provide a virtually limitless and clean energy source. Future space missions will utilize resources available on celestial bodies, such as the Moon or Mars, to sustain human presence and exploration. ISRU techniques, including extracting water, oxygen, and other essential resources from regolith or ice, will be crucial for establishing long-term off-world habitats and reducing reliance on Earth for supplies.

The microgravity environment of space offers unique opportunities for manufacturing processes that are not possible on Earth. Additive manufacturing in space has already demonstrated its potential for producing complex structures and materials; in the future space-based manufacturing cloud will lead to advancements in pharmaceuticals, advanced materials, and even the construction of large-scale structures in space. 

As space exploration expands and missions venture farther into the solar systems, reliable and efficient interplanetary communication will become paramount. Developing an interplanetary internet infrastructure using laser communications, deep space networks, and autonomous communication protocols will enable seamless data exchange and coordination across vast distances. With the growing number of satellites and space debris, there will be an increasing need for effective debris mitigation and removal strategies. Advanced technologies such as active debris removal systems, robotic spacecraft, and orbital cleanup missions will play a vital role in maintaining a sustainable space environment. 

 Request a free sample copy or view report summary: Space Technology (SpaceTech) Market Report

Space Technology Market Report Highlights

• The satellite systems segment captured the highest revenue share of over 38% in 2024. The rising demand for real-time data, global internet coverage, and secure communications is fueling growth in the satellite systems segment.

• The navigation & mapping segment captured highest market share in 2024. The use of satellite-based Earth observation for mapping and monitoring is transforming sectors such as urban planning, disaster management, and environmental monitoring.

• The North America generated the highest revenue share, accounting for over 46% in 2024. There is growing investment in space defense and national security, led by the U.S. Space Force and defense contractors.

• The Asia Pacific space technology market is expected to grow at the highest CAGR of 11.3% from 2025 to 2030. In the Asia-Pacific region, countries including Japan, South Korea, and Australia are investing heavily in satellite communication and navigation systems to enhance regional connectivity and technological independence.

Space Technology Market Segmentation

Grand View Research has segmented the global space technology (SpaceTech) market report based on technology, end-use, application, and region:

Space Technology Outlook (Revenue, USD Billion, 2018 - 2030)

• Launch Systems

• Satellite Systems

• Ground Systems

• In-Space Infrastructure Systems

• Others

Space Technology End Use Outlook (Revenue, USD Billion, 2018 - 2030)

• Government

• Military

• Commercial

Space Technology Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Navigation & Mapping

• Meteorology

• Disaster Management

• Satellite Communication

• Remote Sensing

• Science & Engineering

• Earth Observation

• Military and national security

• Data & Analytics

• Information Technology

• Internet Services

• Manufacturing

• Others

Space Technology Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Mexico

• Middle East and Africa

List Of Key Players in the Space Technology Market

• Airbus SE

• Astra Space Inc.

• Ball Corporation

• Blue Origin LLC

• Boeing

• General Dynamics Corporation

• Hedron

• Hindustan Aeronautics Limited

• Honeywell International Inc.

• ICEYE

• Lockheed Martin Corporation

• Maxar Technologies

• Northrop Grumman Corporation

• OHB System AB

• Rocket Lab USA

• Safran S.A.

• Sierra Nevada Corporation

• SpaceX

• Thales Group

• Virgin Galactic.