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Market Snapshot:
The global spacesuit market is expected to register a 7.63% CAGR during the forecast period of 2018 to 2023.
The global spacesuit market is expected to witness substantial growth during the forecast period. North America is estimated to be a prominent region for the spacesuit market due to the presence of several spacesuit providers such as Garrett AiResearch, Collins Aerospace, SpaceX, and Final Frontier Design. Europe accounted for the second-largest market share of 27.53% in 2017 due to the ongoing spacesuit trials in Germany and France. Asia-Pacific accounted for the third-largest share of the global spacesuit market in 2017. Asia-Pacific is expected to be one of the most attractive markets for spacesuits owing to the significant investments by governments in the space industry. China and India are likely to account for substantial shares of the spacesuit market in Asia-Pacific during the forecast period.
Market Segmentation:
Market Research Report’s latest report on the global spacesuit market provides an analysis of the most important trends that are expected to impact the market outlook by 2023. MRFR also defines emerging trends through factors that has the potential to significantly impact the market and contribute to its growth over the forecast period.
Spacesuits are worn by astronauts in space to keep themselves alive in space environment, which is comparatively different from earth’s environment. The global spacesuit market is significantly consolidated with the presence of a key vendors and buyers, where National Aeronautics and Space Administration (NASA) and ROSCOSMOS (Russian Space Agency) are the major end-users of spacesuits.
Spacesuits are designed to cope up with the challenging scenarios in the space such as survival in the extreme temperatures and hostile climatic conditions. The manufacturers use a variety of advanced raw materials to develop specialized spacesuits. They invest in large proportion on research & development for designing the suit with safely notions, convenient, light-weight, and advanced. The manufacturers are now increasing their focus on the development of advanced materials to make space suits more durable, safe and multi-functional. They are continuously striving to provide ultimate solutions with versatility to end-users in comparison with their competitors.
Global Space Suit Market Drivers and Trends:
The growing factors that are pulling the market of space suit towards opportunities include commercial space missions or operations and growing mission of space travels are resulting in increasing the demand for spacesuits. With the advent of new technologies and advancements, there is an increased emphasis on production of differentiative space suits by manufacturers based on effectiveness, aesthetics, and convenience, which in turn, is fuelling the market growth of spacesuits.
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To survive in space is a challenging act due to difference in temperature and adverse climatic conditions than the earth. As a result of this, manufacturers are using a variety of advanced raw materials to design some specialized spacesuits. There is being implementation of heavy investment on R&D for the reduction of weight, convenience, and advanced spacesuits. Such factors are creating immense opportunities for the market to grow consistently and flourish during the forecast period.
Moreover, the introduction of space-based research and the increasing space-based developments are some of the key factors, which would increase the demand for spacesuits and fuel the global space suit market growth exponentially.
Global Space Suit Market Segmentation:
Market Research Future Report offers a comprehensive segmental analysis of the global space suit market that is listed based on type, design, technology and region.
By the mode of type, this segment includes intravehicular and extravehicular. Extravehicular spacesuits have backpacks that supply oxygen, electrical power, communication, and cool air. Whereas, intravehicular spacesuits have wearables, a pharmaceutical support assembly, urine collection transfer assembly, and air pressure control helmet.
By the mode of design, this segment includes soft suits, hard-shell suits, hybrid suits, and skin-tight suits.
By the mode of technology, this market includes flex nozzle, gimbal nozzle, rotating nozzle, and others.
Regional Outlook:
Region wise, the market of space suit has been segmented into North America, Europe, Asia Pacific, and Rest of the World.
Among them, North America is expected to lead the market in the years to come owing to the increase in demand for space research programs and many space-based operations that are being undertaken in the U.S. Also, significant advancement taking place in the countries that are expected to highly contribute to the global demands over the next coming years. High involvement of countries in various space programs such as the launch of satellites and ample of opportunities to provide low-cost space missions will certainly propel the growth of the spacesuit market during the forecast time.
Asia Pacific is the second top spacesuit market to prosper in the forecast time owing to the increasing participation in space-based programs by countries, such as China, Japan, and India, which are fuelling the growth in Asia Pacific. In addition, various countries are also contributing towards satellite launch programs which is also taking the growth of the global market towards positive ways.
Key Players:
The major players that feature in the global spacesuit market are Boeing (U.S.), David Clark Company (U.S.), Honeywell International Inc. (U.S.), ILC Dover (Ireland), NPP Zvezda (Russia), Space Exploration Technologies Corp. (U.S.), Final Frontier Design (U.S.), Sure Safety India Pvt. Ltd. (U.S.), Oceaneering International, Inc. (U.S.), Orbital Outfitters (U.S.), and UTC Aerospace Systems (U.S.).
Industry News:
25 January 2019: Under Armour teamed up with Richard Branson's Virgin Galactic and created the next generation of space suits for astronauts on trips to space. The athleticwear company provided uniforms for Virgin Galactic employees at its Spaceport America operations centre in New Mexico and helped design programs to physically prepare astronauts for spaceships.
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