The market for space cryogenics was valued at USD 17 billion in 2021 and is anticipated to grow at a 7.29% CAGR in terms of revenue during the forecast period. Increased attempts from public and private organisations to promote the usage of cleaner fuels, such as natural gas, for domestic and industrial applications as well as rising demand for cryogenic technology within the healthcare sector are some of the main reasons driving market revenue growth. A startling amount of progress has been made in cooling and cryogenic detecting technology over the past 20 years. Cryogenic equipment can now be installed and used inside of spacecraft due to its rising dependability and usability.
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