Global Space Habitat Market 2017-2021
About Space Habitat
Space habitat is a concept intended for long-term settlement in outer space. This includes the development of colonies on the surface of other celestial bodies. Engineers and scientists are continuously working on developing various prototype designs to replicate ideal human settlements in the form of a space habitat. Earth provides a sustainable environment to support natural habitats that help living organisms thrive. Other celestial bodies do not provide the same support system as Earth. Several concepts are being studied to make human survival possible on Mars, but there are several impediments as indicated in the following exhibit.
Technavio’s analysts forecast the global space habitat market to grow at a CAGR of 13.83% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global space habitat market for 2017-2021. To calculate the market size, the report considers the matured contracts and R&D funding for space-habitat technologies.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Space Habitat Market 2017-2021
Technavio recognizes the following companies as the key players in the global space habitat market: Bigelow Aerospace, Boeing, Lockheed Martin, NanoRacks, Orbital ATK, and SNC
Other Prominent Vendors in the market are: MAXAM, Armadillo Aerospace, and SpaceX.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Provision to recycle resources in space. Sustainability has reached a new level where reusability is implemented in every stage and industry. A method to convert all the material of a spacecraft (includes plastics, metal, and leftover food) to fuel can be implemented in outer space. The strategic approach for cost reduction requires the recycling or reuse of all the resources present in spacecraft. All the techniques and resources used in the spacecraft must ensure that sustainability is kept in mind.”
According to the report, one of the major drivers for this market is Adoption of reusable launch vehicles. Reusable launch vehicles are systems that launch the space vehicle out of the atmosphere and can be reused for subsequent launches. This saves significant cost, time, resources, and effort as a new launch system does not need to be designed and built for subsequent launches. The systems are used for resupplying resources for the ISS. The testability factor can be avoided in the case of reusable launches. As the rockets are already tested for functionality and design, no catastrophic failures occur with respect to the prototype. The prototype decreases the error rate of the rocket, and the probability of a successful launch is higher in a reused rocket compared to an expendable rocket.
Further, the report states that one of the major factors hindering the growth of this market is Insufficient infrastructure and integrated technology for space colonization. Creating a self-sustaining human environment is a challenge as there are fewer technologies and insufficient infrastructure that support human settlements. The atmosphere, pressure, climatic conditions, gravitational pull, and food production are some of the factors that must be considered for building the right infrastructure that ensures the sustainment of human settlement. Resources such as water, food, oxygen, etc. must be resupplied on a timely basis from Earth to sustain human settlements. However, the efforts, costs, and time involved in resupplying the required resources are high and not feasible. A delay in resupplying the required material will pose significant risks for human survival. The lack of appropriate infrastructure to accommodate human settlement will hinder the progress of space colonization.
Bigelow Aerospace, Boeing, Lockheed Martin, NanoRacks, Orbital ATK, SNC, MAXAM, Armadillo Aerospace, and SpaceX.
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