Top 3 Emerging Trends Impacting the Global Spacesuit Market from 2017-2021: Technavio

Technavio has published a new report on the global spacesuit market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--Technavio’s latest report on the global spacesuit market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

The research study by Technavio on the global spacesuit market for 2017-2021 provides a detailed industry analysis based on suit type (extravehicular agency (EVA) suits and intravehicular agency (IVA) suits) and geography (the Americas, EMEA, and APAC).

 
Spacesuits are worn by astronauts in outer space for keeping themselves alive in space. They are also worn by the crew members inside a spacecraft as a safety mechanism in case of loss of cabin pressure. Technavio analysts forecast the global spacesuit market to grow to USD 201.45 million by 2021, at a CAGR of more than 7% over the forecast period.
 

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The top three emerging trends driving the global spacesuit market according to Technavio aerospace and defense research analysts are:

  • Investment in the development of wearable tech glasses
  • Emerging space travel concept
  • Development of multipurpose garments

Investment in the development of wearable tech glasses

There has been a growing demand for incorporating smart technology and augmented reality solutions in various aerospace and defense applications. For instance, NASA teamed up with Osterhout Design Group for the design and development of smart glasses for astronauts, which are used for both terrestrial and space-based activities.

The deployment of smart eyewear will allow the wearer to access flight data and information, which is very desirable for the customers of futuristic space tourism services, leading to the generation of additional revenue to the spacesuit market,” says Moutushi Saha, a lead analyst at Technavio for space research.

Emerging space travel concept

Space tourism is the practice of availing paid recreational and leisure services outside the earth’s atmosphere. Currently, Space Adventures (in collaboration with ROSCOSMOS) is the only company that offers orbital space tourism to private citizens. Many more commercial aerospace companies are showing significant interest in the commercial space tourism business, and are expected to start offering their services by the end of the forecast period. Such emerging space tourism concept will simultaneously drive the development of commercial-grade spacesuits that can be easily wearable by private citizens.

Development of multipurpose garments

Future space exploration missions will necessitate spacesuits that perform beyond their state-of-the-art attributes. Considering the emerging concept for the development of a multipurpose garment to control thermal and humidity, vendors are using innovative techniques and advanced materials to develop cost-effective spacesuits that can be worn by astronauts both in the spacecraft and outer space.

The development of such multipurpose and hybrid garments has reduced the accumulation of compression inside a pressure garment, thereby avoiding the loss of water as well as conserving water. The introduction of these multipurpose spacesuits is expected to drive the market growth,” says Moutushi.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio’s latest report on the global spacesuit market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com