Satellite Launch Vehicle Market
Satellite Launch Vehicle Market Forecasts to 2028 - Global Analysis By Vehicle (Small (<350,000 kg) and Medium to Heavy (>350,000 kg)), Payload (<500 kg, 500-2,500 kg and >2,500 kg), Orbit (Low Earth Orbit (LEO), Medium Earth Orbit (MEO) and Geostationary Orbit (GEO)), Launch (Single-use/Expendable and Reusable), Stage (Single Stage, Two Stage and Three Stage), Subsystem, Application and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $15.7 BN |
|
Projected Year Value (2028) |
US $36.5 BN |
|
CAGR (2022 - 2028) |
15.1% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Satellite Launch Vehicle Market is accounted for $15.7 billion in 2022 and is expected to reach $36.5 billion by 2028 growing at a CAGR of 15.1% during the forecast period. The market for satellite launch vehicles is expanding quickly as a result of the rising need for commercial, governmental, and military satellites. These satellites are used for many different things, including communication, earth observation, navigation, and scientific research. To increase their market share globally, space industries are concentrating on increasing the productivity of their satellite launch vehicles.
According to the China National Space Administration, China plans to launch approximately 100 satellites by 2025.
Market Dynamics:
Driver:
Rise in applications of small satellite launch vehicles.
Low Earth Orbit (LEO) missions often require for the use of small satellite launch vehicles, which may accommodate payloads weighing up to several hundred kilogram’s. Because to the growth in tiny satellite constellations, which are used for a variety of purposes including Earth observation, communications, and scientific research, these launch vehicles are becoming more and more common. Little satellites now have a lot more significance than before. Small satellite launches have been increasingly popular over the past ten years as a result of the growing demand for space-based services like data transmission, communication, monitoring, and commerce. As a result, businesses are now concentrating on creating satellite constellations.
Restraint:
Oversaturation in launch vehicle market
The commercial space economy depends critically on affordable access to space. Launch vehicle producers are reducing their prices with the aid of competition by utilising enhanced production processes and cutting-edge technologies. As a result, more cargo will likely be launched into orbit over the next ten years. Many businesses want to offer a ride for large payloads. Therefore, the most likely candidates for long-term sustainability are launching service providers who can establish a market presence early on and demonstrate their reliability in delivering customer payloads.
Opportunity:
Increased outsourcing of manufacturing activities
Many considerations, including decreased production costs, increased efficiency, and availability to specialist knowledge, there has been a growing tendency towards outsourcing manufacture in the launch vehicle business in recent years. Businesses can benefit from cheaper labour and material prices in other nations by outsourcing their manufacturing. When it comes to large-scale projects in particular, this can result in significant cost reductions. Outsourcing, though, is not without its difficulties and dangers. When considering whether to outsource manufacture, it is crucial for launch vehicle firms to carefully analyse these aspects. They also need to collaborate closely with their manufacturing partners to reduce any potential hazards.
Threat:
Reliability and safety of launch vehicles
A significant problem facing the business is ensuring the safe and reliable operation of satellite launch vehicles. Launch vehicles must be reliable and safe because a malfunction during launch could result in the loss of the payload as well as possible danger to people and property on the ground. Businesses are making significant investments in R&D to increase the dependability and safety of their launch vehicles in order to deal with these issues. Additionally, the business uses machine learning and data analytics to enhance the effectiveness and security of its launches. The industry continues to face significant challenges in ensuring the safe and reliable operation of satellite launch vehicles, and businesses are continuously looking for ways to advance the technology in their launch vehicles.
Covid-19 Impact
The COVID 19 epidemic has significantly altered the commercial environment. Every participant in the industry has been impacted by the pandemic. Moreover, COVID 19 has had a significant negative influence on the satellite industry, which has caused the reusable launch vehicles to be suspended or delayed. ISRO, SpaceX, and other space research agencies are the main market participants in this sector. They have created new launch vehicle delivery and production capabilities. To safeguard their staff against COVID 19, the businesses, however, are adhering to all safety regulations.
The geostationary orbit (GEO) segment is expected to be the largest during the forecast period
The geostationary orbit (GEO) segment is estimated to have a lucrative growth, due to industry participant initiatives to build satellite launch vehicles for GEO. Moreover, GEO satellites can cover a larger area of the planet, fostering an atmosphere that is beneficial for industry growth. To draw government space organisations and increase their market value, market players are concentrating on advances in the GEO satellite launch vehicle category.
The Reusable launch vehicles segment is expected to have the highest CAGR during the forecast period
The Reusable launch vehicles segment is anticipated to witness the fastest CAGR growth during the forecast period. Reusable launch vehicles (RLVs) are satellite launch vehicles that can be recovered and repurposed once a payload has been sent into orbit. Reusable launch vehicles can be used more than once, in contrast to single-use launch vehicles, which must be discarded after a single flight. This might significantly lower the cost of space travel. The rocket booster and the spacecraft or payloads are typically the two major parts of reusable launch vehicles.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to many satellite service providers, including Speed cast International (Hong Kong) and ITC Global (Australia), are present in this area to meet the rising demand for Direct-to-Home (DTH) entertainment services and digital television. The desire for mobile broadband and the expansion of digital broadcasting services are two major drivers of the satellite launch vehicle industry in Asia Pacific.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to the influx of new players into the space launch services market and the rapid progress of launch technology. Also, the UK satellite launch vehicle industry had the fastest-growing market in the European region, while the German satellite launch vehicle industry had the biggest market share.
Key players in the market
Some of the key players profiled in the Satellite Launch Vehicle Market include Arca Space Corporation, Lockheed Martin Corporation, Mitsubishi Heavy Industries Ltd, Northrop Grumman Corporation, Boeing, Blue Origin, Space Exploration Technologies Corporation, Eurockot Launch Services GmbH, Indian Space Research Organization, Bristol Airspace, Kelly Space & Technology Inc., Brunswick Corporation, Virgin Orbit, E-Prime Aerospace, Scaled Composites LLC, SpaceX’s Falcon and United Launch Alliance.
Key Developments:
In January 2023, SpaceX’s Falcon 9 launched 56 Starlink satellites to low-Earth orbit from Space Launch Complex 40 at Cape Canaveral Space Force Station, Florida. This was the ninth launch and landing for this Falcon 9 first-stage booster.
In October 2022, United Launch Alliance (US) successfully launches two key SES commercial c-band satellites. Atlas V launched SES-20 and SES-21 to deliver TV, radio, and critical data transmission services in support of the FCC’s 5G national transition.
In February 2022, Northrop Grumman Corporation Corporation’s Space Logistics announced a launch agreement for its Mission Robotic Vehicle (MRV) spacecraft, and the sale of its first Mission Extension Pod (MEP).
Vehicles Covered:
• Small (<350,000 kg)
• Medium to Heavy (>350,000 kg)
Payloads Covered:
• <500 kg
• 500-2,500 kg
• >2,500 kg
Orbits Covered:
• Low Earth Orbit (LEO)
• Medium Earth Orbit (MEO)
• Geostationary Orbit (GEO)
Launch Covered:
• Single-use/Expendable
• Reusable
Stages Covered:
• Single Stage
• Two Stage
• Three Stage
Subsystems Covered:
• Guidance, Navigation & Control Systems
• Structure
• Telemetry, Tracking & Command Systems
• Propulsion Systems
• Separation Systems
• Electrical Power Systems
Applications Covered:
• Remote Sensing
• Communication
• Research & Development
• Navigation
• Scientific
• Meteorology
• Earth Observation
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Satellite Launch Vehicle Market, By Vehicle
5.1 Introduction
5.2 Small (<350,000 kg)
5.3 Medium to Heavy (>350,000 kg)
6 Global Satellite Launch Vehicle Market, By Payload
6.1 Introduction
6.2 <500 kg
6.3 500-2,500 kg
6.4 >2,500 kg
7 Global Satellite Launch Vehicle Market, By Orbit
7.1 Introduction
7.2 Low Earth Orbit (LEO)
7.3 Medium Earth Orbit (MEO)
7.4 Geostationary Orbit (GEO)
8 Global Satellite Launch Vehicle Market, By Launch
8.1 Introduction
8.2 Single-use/Expendable
8.3 Reusable
9 Global Satellite Launch Vehicle Market, By Stage
9.1 Introduction
9.2 Single Stage
9.3 Two Stage
9.4 Three Stage
10 Global Satellite Launch Vehicle Market, By Subsystem
10.1 Introduction
10.2 Guidance, Navigation & Control Systems
10.3 Structure
10.4 Telemetry, Tracking & Command Systems
10.5 Propulsion Systems
10.6 Separation Systems
10.7 Electrical Power Systems
11 Global Satellite Launch Vehicle Market, By Application
11.1 Introduction
11.2 Remote Sensing
11.3 Communication
11.4 Research & Development
11.5 Navigation
11.6 Scientific
11.7 Meteorology
11.8 Earth Observation
11.9 Other Applications
12 Global Satellite Launch Vehicle Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa
13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies
14 Company Profiling
14.1 Arca Space Corporation
14.2 Lockheed Martin Corporation
14.3 Mitsubishi Heavy Industries Ltd
14.4 Northrop Grumman Corporation
14.5 Boeing
14.6 Blue Origin
14.7 Space Exploration Technologies Corporation
14.8 Eurockot Launch Services GmbH
14.9 Indian Space Research Organization
14.10 Bristol Airspace
14.11 Kelly Space & Technology Inc.
14.12 Brunswick Corporation
14.13 Virgin Orbit
14.14 E-Prime Aerospace
14.15 Scaled Composites LLC
14.16 SpaceX’s Falcon
14.17 United Launch Alliance
List of Tables
1 Global Satellite Launch Vehicle Market Outlook, By Region (2020-2028) ($MN)
2 Global Satellite Launch Vehicle Market Outlook, By Vehicle (2020-2028) ($MN)
3 Global Satellite Launch Vehicle Market Outlook, By Small (<350,000 kg) (2020-2028) ($MN)
4 Global Satellite Launch Vehicle Market Outlook, By Medium to Heavy (>350,000 kg) (2020-2028) ($MN)
5 Global Satellite Launch Vehicle Market Outlook, By Payload (2020-2028) ($MN)
6 Global Satellite Launch Vehicle Market Outlook, By <500 kg (2020-2028) ($MN)
7 Global Satellite Launch Vehicle Market Outlook, By 500-2,500 kg (2020-2028) ($MN)
8 Global Satellite Launch Vehicle Market Outlook, By >2,500 kg (2020-2028) ($MN)
9 Global Satellite Launch Vehicle Market Outlook, By Orbit (2020-2028) ($MN)
10 Global Satellite Launch Vehicle Market Outlook, By Low Earth Orbit (LEO) (2020-2028) ($MN)
11 Global Satellite Launch Vehicle Market Outlook, By Medium Earth Orbit (MEO) (2020-2028) ($MN)
12 Global Satellite Launch Vehicle Market Outlook, By Geostationary Orbit (GEO) (2020-2028) ($MN)
13 Global Satellite Launch Vehicle Market Outlook, By Launch (2020-2028) ($MN)
14 Global Satellite Launch Vehicle Market Outlook, By Single-use/Expendable (2020-2028) ($MN)
15 Global Satellite Launch Vehicle Market Outlook, By Reusable (2020-2028) ($MN)
16 Global Satellite Launch Vehicle Market Outlook, By Stage (2020-2028) ($MN)
17 Global Satellite Launch Vehicle Market Outlook, By Single Stage (2020-2028) ($MN)
18 Global Satellite Launch Vehicle Market Outlook, By Two Stage (2020-2028) ($MN)
19 Global Satellite Launch Vehicle Market Outlook, By Three Stage (2020-2028) ($MN)
20 Global Satellite Launch Vehicle Market Outlook, By Subsystem (2020-2028) ($MN)
21 Global Satellite Launch Vehicle Market Outlook, By Guidance, Navigation & Control Systems (2020-2028) ($MN)
22 Global Satellite Launch Vehicle Market Outlook, By Structure (2020-2028) ($MN)
23 Global Satellite Launch Vehicle Market Outlook, By Telemetry, Tracking & Command Systems (2020-2028) ($MN)
24 Global Satellite Launch Vehicle Market Outlook, By Propulsion Systems (2020-2028) ($MN)
25 Global Satellite Launch Vehicle Market Outlook, By Separation Systems (2020-2028) ($MN)
26 Global Satellite Launch Vehicle Market Outlook, By Electrical Power Systems (2020-2028) ($MN)
27 Global Satellite Launch Vehicle Market Outlook, By Application (2020-2028) ($MN)
28 Global Satellite Launch Vehicle Market Outlook, By Remote Sensing (2020-2028) ($MN)
29 Global Satellite Launch Vehicle Market Outlook, By Communication (2020-2028) ($MN)
30 Global Satellite Launch Vehicle Market Outlook, By Research & Development (2020-2028) ($MN)
31 Global Satellite Launch Vehicle Market Outlook, By Navigation (2020-2028) ($MN)
32 Global Satellite Launch Vehicle Market Outlook, By Scientific (2020-2028) ($MN)
33 Global Satellite Launch Vehicle Market Outlook, By Meteorology (2020-2028) ($MN)
34 Global Satellite Launch Vehicle Market Outlook, By Earth Observation (2020-2028) ($MN)
35 Global Satellite Launch Vehicle Market Outlook, By Other Applications (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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