About Deep Space Exploration
Deep space exploration refers to a branch of astronomy that deals with exploring the distant regions of space. According to the formal definition, deep space starts at 2M kilometers. Deep space exploration gives humankind important insights on many essential topics and helps understand the environment, outer space better. Deep space explorations are used to understand it there is water present in outer space which is essential for human survival in space. Primarily deep space exploration is used to understand various phenomena of the universe by the means of research and observations. It is also used to find new plants and celestial bodies that could be essential in the understanding physics. With the increasing demand for research; the demand for deep space exploration is also increasing.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
With the increasing need for research activities in space; the demand for space exploration is increasing. The market leaders have a significant market share in this market. Huge capital expenses are R&D expenses are required to operate in this market. This is a growing field and most of the growth is yet to come. Focusing on niche areas and then expanding towards other is could be the key strategy in this market. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Airbus (France), SpaceX (United States), Sierra Nevada Corporation (United States), The Boeing Company (United States), MAXAR Technologies Inc. (United States), Northrop Grumman Corporation (United States), Lockheed Martin Corporation (United States), Masten Space Systems (United States), Nanoracks LLC (United States) and Planetary Resources (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Deep Space Exploration market by Type (Moon Exploration, Galaxy Exploration, Space Risk Assessment, Water Exploration and Other), Application (Flyby Missions, Orbiter Missions, Rover Missions, Human Exploration Mission and Other) and Region.
On the basis of geography, the market of Deep Space Exploration has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Device, the sub-segment i.e. Satellites will boost the Deep Space Exploration market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Innovation in The Deep Space Exploration and Growing Space Competition Fuelling the Growth of Deep Space Exploration
Market Growth Drivers:
Increasing Use of Deep Space Exploration for Research Purposes and Growing Demand for Space Exploration for Discovery of New Celestial Bodies
Challenges:
Lack of Skilled Employees for Deep Space Exploration and Complex and Time-Consuming Nature of Deep Space Exploration
Restraints:
Extremely High Investment Required for Deep Space Exploration
Opportunities:
Increasing Partnerships Between Nations for Deep Space Exploration and Growing R&D in The Field of Deep Space Exploration
Market Leaders and their expansionary development strategies
In November 2023, Adna Deep Sea Mining Limited (ADNA) and Global Oceans Minerals (GOM) merger. This merger created one of the world's largest deep-sea mining companies, with a portfolio of projects that includes Clarion-Clipperton Zone (CCZ) in the Pacific Ocean, and the Cook Islands Exclusive Economic Zone (EEZ) in the South Pacific.
In October 2023, NASA launched its Psyche spacecraft on a mission to explore a rare metallic asteroid named Psyche. The spacecraft is scheduled to reach Psyche in 2026 and will spend approximately one year orbiting the asteroid and studying its composition. Scientists believe that Psyche is a remnant of the core of an early planet that formed in the solar system. Studying Psyche could help us to better understand the formation of planets and the evolution of the solar system.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Deep Space Exploration Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.