The global Spacesuit Market is estimated to be valued at US$ 1.16 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Spacesuits are pressure suits worn by astronauts to survive the harsh space environment. They provide mobility, respiration and life support functions that allow astronauts to conduct extra-vehicular activity. Advances in material, miniaturized system and mobility offered by new generation spacesuits enable astronauts to perform extra-vehicular operations effectively.
Market key trends:
One of the major trends in the spacesuit market is the integration of modular and reconfigurable environmental control system (ECS). ECS is a life support system that provides a stable and breathable environment inside the suit under varying pressure and atmospheric conditions. The next generation ECS features modular and reconfigurable design that allows astronauts to customize the system based on mission requirements. It has reduced size, weight and power consumption compared to traditional systems. The modular design improves flexibility, serviceability and upgrade potential of ECS, fueling the demand for advanced spacesuits.
Segment Analysis
The global spacesuit market is segmented into suit type, technology, application, and region. Based on suit type, the market is categorized into intravehicular activity suits, extravehicular activity suits, and planetary spacesuits. The extravehicular activity suits segment held the largest market share in 2023 and is expected to remain dominant over the forecast period owing to increasing dependency on spacesuits for spacewalks in low earth orbit.
Key Takeaways
The global spacesuit market is expected to witness high growth, exhibiting a CAGR of 7.5% over the forecast period, due to increasing investments in space exploration activities by government as well as private players.
Regional analysis – North America dominated the global spacesuit market in 2023 and is expected to remain the highest revenue generating region throughout the forecast period. This is attributed to presence of prominent players and space agencies like NASA in the region which are investing heavily in development of advanced spacesuit technologies. Asia Pacific is anticipated to witness fastest growth over the forecast period owing to increasing government funding for space programs in emerging countries like China and India.
Key players operating in the spacesuit market are ILC Dover, David Clark, Oceaneering International, NPP Zvezda, Final Frontier Design, Pacific Spaceflight, Austrian Space Forum (OeWF), and UTC Aerospace Systems. ILC Dover is considered a leader in spacesuit technologies with strong expertise in design and manufacturing of advanced suits. David Clark and UTC Aerospace Systems are other prominent suppliers of spacesuits to NASA and space agencies worldwide
