SPACESUIT MARKET ANALYSIS

Spacesuit MarketSize and Trends

Difficulty in surviving in space owing to substantially different conditions is the primary growth driver of the industry

Utilization of distinct advanced materials in the designing and development for next generation suits, such as urethane-coated nylon, Dacron, Neoprene, aluminized Mylar, Gortex, Kevlar and Nomex, to enable living in space have gained significant traction as the key industry trends. These materials enhance the strength, reduce overall weights, and enable the required sustenance of pressure and air. Moreover, participants are increasingly focusing on development of more innovative materials to differentiate their portfolio from the competitors and provide tailored solutions with enhanced safety and versatility for the end users.

Spacesuit market are poised for renaissance owing to increasing interests of private sector roles in the space industry

Commercial space travel concept is among the key trend that is expected to transform the industry landscape over the next decade. For instance, In May 2014, U.S. space travel agency has partnered with a Japanese advertisement agency for endorsing its future spaceflight missions. Commercial space travel offering companies will make efforts to distinguish themselves by offering their products based on better capabilities, aesthetics, and comfort. These factors will drive the demands for commercial grade suits and fuel the spacesuit market growth over the forecast period.

According to Coherent Market Insights, the business can be largely characterized low volume and high margin industry.