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Spacesuit Market Size to grow by USD 78.39 Million | Preference for Advanced Materials to Drive Growth | Technavio


NEW YORK, Dec. 2, 2021 /PRNewswire/ -- The spacesuit market potential will grow by USD 78.39 million from 2020 to 2025, as per the latest market analysis report by Technavio. The report also predicts the market growth momentum to decelerate at a CAGR of  6.40% during the forthcoming years. The spacesuit market report covers insights on major trends, key growth drivers, and challenges impacting the overall growth of the market.

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Market Driver Analysis

The spacesuit market report identifies the preference for advanced materials as one of the major factors driving the growth of the market. Manufacturers are using distinct types of advanced materials in the design and development of next-generation spacesuits, due to the complexity of surviving in space. In addition, the implementation of 3D printing technologies and priority for establishing enhanced connectivity systems are other crucial factors anticipated to influence the market growth positively during the forecast period.

Market Challenge Analysis

The spacesuit market is segmented by type (EVA suits and IVA suits) and geography (North America, Europe, APAC, MEA, and South America). Extravehicular activity (EVA) suits are worn by astronauts for activities outside the external environment of the spacecraft, where the astronauts are required to come out of the spacecraft.  The growth in the global spacesuit market is driven by the sales of EVA suits, and the sales will continue to dominate the global market throughout the forecast period. In terms of geography, North America will generate the highest spacesuit market demand owing to the increased space-based programs in the US, Canada, and Mexico. NASA has been developing advanced spacesuits for future human-crewed space missions by collaborating with private companies like Boeing and ILC Dover to develop Tron spacesuits to enhance the deep space exploration capabilities of astronauts.

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Market Scope Analysis

The spacesuit market covers the following areas:

Spacesuit Market Sizing
Spacesuit Market Forecast
Spacesuit Market Analysis

Companies Mentioned

Related Reports:

Space Habitat Market by Technology and Geography - Forecast and Analysis 2020-2024

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Spacesuit Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 6.40%

Market growth 2021-2025

USD 78.39 million

Market structure

Fragmented

YoY growth (%)

8.97

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

North America at 52%

Key consumer countries

US, UK, France, China, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

David Clark Co. Inc., Final Frontier Design, ILC Dover LP, NPP Zvezda, Oceaneering International Inc., PACIFIC SPACEFLIGHT, Raytheon Technologies Corp., Space Exploration Technologies Corp., Sure Safety (India) Ltd., and The Boeing Co.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key Topics Covered:

About Us
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.

Contact
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


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News published on 2 december 2021 at 01:00 and distributed by: