DUBLIN--(BUSINESS WIRE)--The "Astronaut Space Suits Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The global astronaut space suits market is projected to grow with a CAGR of more than 2% during the forecast period. The market is consolidated with limited players in the market.
The increasing investments into deep space human exploration programs by countries like the United States, China, India, and Russia among others is anticipated to generate demand for space suits market during the forecast period. The development of new and advanced spacesuits with advanced materials for low weight and enhanced mobility is expected to accelerate the growth of the market in the coming years.
Key Market Trends
EVA Suits Segment Accounted for a Major Market Share in 2019
The EVA suits segment currently dominates the market and is expected to continue its dominance during the forecast period. The extravehicular activities (EVA) are generally the spacewalks taken by the astronauts for activities like planetary exploration, repairing of the satellites, and other extremal activities on the space station. The EVA suits (Extravehicular Mobility Unit (EMU) suits) provide environmental protection, communications, mobility, and life support for astronauts.
The development of new spacesuits for human space exploration programs is anticipated to propel the growth of the segment in the coming years. In October 2019, NASA unveiled xEMU spacesuit for extra-vehicular activities on the surface of the moon for the space mission planned in 2024. Furthermore, NASA plans to make modifications and upgrade the suits in the future for extra-vehicular activities on the surface of Mars.
Asia-Pacific Expected to Witness the Highest Growth Rate during the Forecast Period
The Asia-Pacific region of the market is anticipated to have the highest CAGR during the forecast period. The Asia-Pacific countries like China, Japan, and India among others are forging ahead with their human space exploration plans to send humans for planetary exploration in the coming years. China under its human space exploration program planned to construct and operate a space station in low earth orbit (LEO). The country plans to complete the construction of the space station by 2024.
Furthermore, the China National Space Administration also announced to carry out human exploration to the moon by the 2030s. Also, the Indian Space Research Organisation (ISRO) announced to send four astronauts for its human mission planned to be launched in 2022. For this launch, ISRO developed a new spacesuit (prototype unveiled in September 2018) for the astronauts, with one oxygen cylinder carrying capacity. Such space exploration programs are anticipated to generate demand for IVA suits and EVA suits in the coming years.
The astronaut space suits market is significantly consolidated with the presence of a limited number of vendors and buyers, where the National Aeronautics and Space Administration (NASA) is the major end-user. Some of the prominent players in the astronaut space suit market are Collins Aerospace, Final Frontier Design, The Boeing Company, David Clark Company, and NPP Zvezda.
The space organizations, as well as the manufacturing companies, are developing new spacesuits for the astronauts with advanced materials, better communications systems, and enhanced mobility. The growing demand for human space exploration programs is expected to help the companies expand their global presence in the coming years.
Key Topics Covered
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1.1 IVA Suits
5.1.2 EVA Suits
5.2.1 North America
5.2.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Collins Aerospace
6.2.2 Final Frontier Design
6.2.3 The Boeing Company
6.2.4 David Clark Company
6.2.5 NPP Zvezda
6.2.6 Pacific Spaceflight
6.2.7 Oceaneering International
6.2.8 ILC Dover L.P.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/542bu2