Space Launch Market size was valued at USD 10.5 Billion in 2024 and is forecasted to grow at a CAGR of 12.5% from 2026 to 2033, reaching USD 30.0 Billion by 2033.
South Korea's space launch market has experienced remarkable growth, positioning the nation as a significant player in the global space industry. With the successful development of indigenous launch vehicles and substantial investments in space technology, South Korea is poised to meet diverse industry demands and foster innovation.
In 2023, South Korea's space industry revenue reached approximately 3.2 trillion South Korean won, reflecting increased demand for satellite technologies and related services. This surge underscores the country's commitment to advancing its space capabilities and infrastructure.
The Nuri rocket (KSLV-II) exemplifies South Korea's engineering prowess. As the first domestically developed orbital launch vehicle, Nuri's successful launches have demonstrated the nation's ability to deploy satellites into orbit, marking a significant milestone in its space endeavors.
To further bolster its space ambitions, South Korea has initiated the development of the KSLV-III, a next-generation launch vehicle aimed at enhancing payload capacities and supporting missions such as lunar exploration. This project signifies the nation's dedication to expanding its presence in the space sector.
Recognizing the importance of regulatory frameworks, South Korea is transitioning from a launch permit system to a licensing model, offering licenses valid for one to five years. This shift is designed to streamline processes and encourage private sector participation, fostering a more dynamic and competitive space industry.
Private enterprises are playing a crucial role in this evolving landscape. Companies like Hanwha Aerospace have emerged as key contributors, securing significant contracts for projects like the KSLV-III. Their involvement highlights the growing synergy between public initiatives and private innovation in South Korea's space endeavors.
South Korea's strategic investments and policy reforms are cultivating a robust space launch market, capable of meeting diverse industry requirements and driving technological advancements. As the nation continues to enhance its capabilities, it stands to play an increasingly influential role in the global space community.
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NASA
CASC
Arianespace
Antrix
Russian Aviation and Space Agency
Boeing
China Great Wall Industry
Eurockot
ILS International Launch Services
Lockheed Martin
Mitsubishi Heavy Industries
Northrop Grumman
Spacex
Space International Services
Spaceflight
Starsem
United Launch Services (ULS)
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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 Space Launch Market
Reusable Launch Vehicles (RLVs)
Expendable Launch Vehicles (ELVs)
Hybrid Launch Vehicles
Suborbital Launch Vehicles
Commercial Payload Launches
Government/Defense Launches
Scientific Research and Exploration
Small Satellites
Medium Satellites
Large Satellites
Crewed Missions
Government Agencies
Commercial Enterprises
Academic Institutions
Non-profit Organizations
Regular Launch Schedule
On-demand Launch Services
Emerging Launch Opportunities
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Space Launch 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 Space Launch Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Space Launch Market, By Type
6. South Korea Space Launch Market, By Application
7. South Korea Space Launch Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Space Launch Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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