Increasing Number of Space Exploration Missions is Fostering the Growth of the Spacesuit Market

 


A spacesuit is an article of clothing worn to protect a human from the harsh environment of space, vacuum, and extremely cold temperatures. Spacesuits were once only worn inside space vehicles, but today any type of astronaut can use a spacesuit. Spacesuits are used for work, emergency situations, and for military activities. Spacesuits are designed to be lightweight, durable, and resistant to extreme temperature and harsh space conditions. Today's spacesuits are made with breathable, waterproof, and comfortable materials that enable astronauts to wear them comfortably even when they are not wearing their spacesuits.

The growing trend of commercial space travel and the increasing development of multipurpose spacesuits is driving the growth of the spacesuit market. Increasing spending on space exploration missions is again projected to foster the growth of the spacesuit market.  Moreover, the increasing use of satellites to provide information coupled with the increase in spending of defense and aerospace industry is also expected to propel the growth of the spacesuit market. According to the Stockholm International Peace Research Institute (SIPRI), Total global military expenditure rose to $1917 billion in 2019. The rise in the launch of the satellite and launch vehicles is further anticipated to propel the growth of the spacesuit market over the forecast period.

North America is projected to gain significant growth over the forecast period and this is attributed to increasing spending on space research programs in the region. According to The Planetary Society, NASA's budget for fiscal year (FY) 2021 is $23.3 billion. This represents a 3% increase over the previous year's amount. In addition to this, increasing investment by the government in the military and aerospace industry is again projected to foster the growth of the market.

Key Developments:

1.      In May 2020, Nasa SpaceX launch: Evolution of the spacesuit. The helmets are 3D-printed and the gloves are touchscreen-sensitive. But their primary purpose remains the same - to protect crew members from depressurization, where the air is lost from the capsule

2.      In October 2019, NASA launched its designs for future spacesuits that astronauts will wear during trips to the lunar surface. 

3.      In September 2002, Russian research and development Enterprise 'Zvezda' has started manufacturing space suits for the Indian astronauts, who are likely to be part of India's first manned space mission 'Gaganyaan', a Russian organization

4.      In December 2020, Virgin Galactic launched the spacesuits private pilots Created in collaboration with Under Armour


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