Astrone Market Revenue was valued at USD 7.7 Billion in 2024 and is estimated to reach USD 17.2 Billion by 2033, growing at a CAGR of 9.6% from 2026 to 2033.
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South Korea's space industry has experienced remarkable growth, positioning the nation as a significant player in the global aerospace arena. As of 2023, the sector comprises 556 entities, with 469 companies actively engaged in space-related activities. This expansion underscores the country's commitment to advancing its space capabilities.
The government's strategic investments have been pivotal in this development. In 2023, South Korea allocated 874.2 billion won (approximately $674 million) to its space programs, marking a 19.5% increase from the previous year. A substantial portion of this budget focuses on developing domestic space technologies, including micro-satellites and the Korea Positioning System (KPS). These initiatives aim to enhance satellite information services applicable across various sectors such as maritime, environmental monitoring, and agriculture.
Employment within the space sector reflects this upward trajectory. In 2021, the industry employed 7,317 individuals, a 16% increase from the previous year, indicating a robust demand for skilled professionals in aerospace engineering and related fields.
South Korea's ambitions extend beyond satellite development. The successful launch of the Nuri rocket (KSLV-II) in 2022 demonstrated the nation's capability to deploy satellites weighing over one metric ton into orbit, joining an elite group of countries with similar achievements. This milestone has paved the way for future projects, including plans to develop over 100 miniature satellites and 14 low-earth orbit communications satellites by 2031, preparing for advancements like 6G network technology.
To bolster the industry's infrastructure, the government has designated specific regions as space industry clusters: Jeonnam for launch vehicles, Gyeongnam for satellites, and Daejeon for research and talent development. These clusters aim to foster collaboration between private enterprises and research institutions, driving innovation and growth in the sector.
International collaborations further enrich South Korea's aerospace landscape. For instance, Boeing established the Boeing Korea Engineering and Technology Research Center (BKETC) in Seoul in 2019, focusing on next-generation aerospace technologies and creating synergies with local industries.
In the defense sector, the government plans to invest approximately $13.6 billion over the next decade to enhance space defense capabilities. This includes developing reconnaissance satellites and micro-satellite constellations, reflecting the strategic importance of space technology in national security.
As the global space market continues to expand, South Korea's concerted efforts in research, development, and international partnerships position it to play a pivotal role in the future of space exploration and technology.
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Astrone
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Astrone Market
Individual Consumers
Businesses
Physical Products
Digital Products
Frequent Users
Occasional Users
One-time Users
Gen Z (Born 1997–2012)
Millennials (Born 1981–1996)
Gen X (Born 1965–1980)
Baby Boomers (Born 1946–1964)
Low-income Consumers
Middle-income Consumers
High-income Consumers
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Astrone Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Astrone Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Astrone Market, By Type
6. South Korea Astrone Market, By Application
7. South Korea Astrone Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Astrone Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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