Market Overview

Research and development for full-scale space exploration is said to have begun in the 1950s, and space-oriented development has been underway worldwide in recent years. Rockets have been developed following the past inventions of equipment using gunpowder, flying weapons, and jet planes. Previously, the United States, European countries, Russia, and Japan led space exploration. Currently, China and India are following suit. 
This research discusses rockets and satellites developed worldwide, as well as the equipment installed on them. The global space equipment market is estimated to be worth 17,486.171 billion yen in 2024, based on the business sales.

Noteworthy Topics

Space Exploration in Japan

Japan has a long history of space exploration dating back to the 1950s.
However, the United States began exploring space for military purposes, achieving an unexceptional scale that no other countries can match. Later, the country converted these studies for peaceful purposes, such as scientific research and international cooperation. Abundant funding enabled the United States to launch rockets multiple times, allowing room for failure. By mass-producing rockets and overcoming each challenge and issue, the United States has improved its rocket launch capabilities.
Due to limited funding, Japan has had few opportunities to launch rockets, making repeated launches difficult. Despite this apparent disadvantage, Japan boasts advanced rocket-launching capabilities and unique technologies, as demonstrated by its asteroid explorer Hayabusa. Hayabusa returned with a piece of an asteroid sample for the first time. Japanese scientists are required to explore the space industry by understanding their country’s environment and utilizing its unique technology.

Future Outlook

The global space equipment market is expected to reach 78 trillion yen by 2050.
Further growth and expansion of the market is anticipated as space exploration continues worldwide, influencing not only on scientific progress, but also economic, social and military aspects. Japan has increased its budget to attract private companies and support research and development. The United States continues to overwhelm other countries by generating space business among private companies. Countries around the world are planning for significant missions and space exploration efforts, contributing to further growth of the space equipment market.

Research Outline