Satellite Launch Vehicle Global Market Report 2023
Major players in the satellite launch vehicle market are Mitsubishi Heavy Industries Ltd., Northrop Gurmman Corporation, Virgin Galactic Holdings Inc., The Boeing Company, Space Exploration Technologies Corp.
New York, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Satellite Launch Vehicle Global Market Report 2023" - https://www.reportlinker.com/p06486658/?utm_source=GNW
, Airbus SE, Bellatrix Aerospace Private Limited, igelow Aerospace LLC, Masten Space Systems Inc., Armadillo Aerospace LLC, Lockheed Martin Corporation, Innovative Solutions In Space B.V., Indian space Research Organization, Blue Origin LLC, and Arianespace SA.
The global satellite launch vehicle market is expected to grow from $13.79 billion in 2022 to $15.85 billion in 2023 at a compound annual growth rate (CAGR) of 14.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The satellite launch vehicle market is expected to reach $26.39 billion in 2027 at a CAGR of 13.6%.
The satellite launch vehicle market consists of sales of polar satellite launch vehicles (PSLV), and geosynchronous satellite launch vehicles (GSLV).Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
A satellite launch vehicle is a rocket-powered vehicle that is used to transport and launch satellites or other payloads into space. These are used to deliver satellites in various types of orbits or to nearby planets, by creating a favorable environment.
Asia-Pacific was the largest region in the satellite launch vehicle market in 2022, and is expected to be the fastest-growing region in the forecast period. The regions covered in satellite launch vehicle report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of satellite launch vehicles are single-use, expendable, and reusable.A single-use, or expendable, launch vehicle is a type of spacecraft or launch vehicle that is meant to be used only once and not reused for subsequent missions where cost efficiency is prioritized over reusability, such as delivering satellites to specific orbits or deploying probes on interplanetary missions.
The various subsystems include structure, guidance, navigation, and control systems, propulsion systems, telemetry, tracking, and command systems, electrical power systems, and separation systems, which hold a wide range of payloads such as 500 kg, 500–2,500 kg, and over 2,500 kg. These are launched in low earth orbit (LEO), medium earth orbit (MEO), and geostationary orbit (GEO) for civil and military applications.
The surge in satellite launches is expected to propel the growth of the satellite launch vehicle market going forward.Satellite launches refer to the process of sending satellites into space using satellite launch vehicles.
Satellite launch vehicles, also known as rockets or space launch vehicles, are specifically designed to carry satellites and other payloads into space, and these vehicles provide the necessary propulsion, guidance, and control systems to transport the satellite from the Earth’s surface to its desired orbit or trajectory.For instance, in January 2023, according to data published by the United Nations Office for Outer Space Affairs (UNOOSA), a part of the United Nations promoting space-related activities and coordinating space-related policies and programs, the cumulative number of objects, including satellites, probes, landers, crewed spacecraft, and space station flight elements, launched into outer space accounted for 14,281 in 2022, an increase of 18% from 12,118 in 2021 globally.
Therefore, the surge in satellite launches drives the satellite launch vehicle market.
Reusable launch vehicle technology advancements are a key trend gaining popularity in the satellite launch vehicle market.Major companies operating in the satellite launch vehicle market are focused on developing products with advanced technologies, such as 3D printing, to strengthen their position in the market.
For instance, in April 2023, Relativity Space, a US-based aerospace manufacturing company, launched Terran R, a reusable launch vehicle constructed using advanced 3D-printed aluminum technology.The Terran R boasts impressive specifications, standing at 270 feet tall with a two-stage configuration, an 8-foot diameter, and a 5-meter payload fairing.
With a focus on first-stage reusability, it can launch payloads of up to 23,500 kg to low Earth orbit (LEO) or 5,500 kilograms to a geosynchronous transfer orbit (GTO) while allowing for a controlled landing.
In February 2023, Vast, a US-based aerospace company, acquired Launcher for an undisclosed amount.With this acquisition, Vast aims to expand its portfolio of liquid rocket engine products while also utilizing Launcher’s orbiter space tug and hosted payload platform to reach orbit and conduct on-orbit testing of its space station components and subsystems.
Launcher is a US-based company that specializes in the development of satellite launch vehicles and rockets that are specifically designed for delivering small satellites into orbit.
The countries covered in the satellite launch vehicle market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The satellite launch vehicle research report is one of a series of new reports that provides satellite launch vehicle market statistics, including the satellite launch vehicle industry’s global market size, regional shares, competitors with a satellite launch vehicle market share, detailed satellite launch vehicle market segments, market trends, and opportunities, and any further data you may need to thrive in the satellite launch vehicle industry. This satellite launch vehicle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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