How Will the Satellite Launch Vehicle Market Size Grow and What is The Market’s Potential?
The satellite launch vehicle market size has witnessed rapid growth in recent years and will further expand from $17.83 billion in 2024 to $20.38 billion in 2025, with a robust compound annual growth rate (CAGR) of 14.3%. This growth during the historic period can be primarily attributed to the implementation of government space programs, commercial satellite deployments, the global geopolitical landscape, international collaborations, and technological readiness.
In anticipation of continued progress, the satellite launch vehicle market is lined up for more impressive growth. It is projected to reach $32.98 billion in 2029, with a CAGR of 12.8%. This forecast can be credited to the rising demand for small satellites, expansive commercial space exploration, prevalent private sector involvement, the evolving regulatory environment, and emerging space agencies. Adoption of lighter materials and advanced manufacturing, focus on responsive and rapid launch capabilities, development of heavy-lift launch vehicles, international collaboration, and integration of artificial intelligence in launch operations are some of the expected market trends to watch.
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Which Factors are Driving the Satellite Launch Vehicle Market’s Growth?
The satellite launch vehicle market is driven by the surge in satellite launches worldwide. Satellite launches involve sending satellites into space using satellite launch vehicles—rockets or space launch vehicles—specially-designed to carry satellites and other payloads into space. They provide necessary propulsion, guidance, and control systems to transport the satellite from Earth’s surface to its desired orbit or trajectory. For instance, in January 2023, data published by the United Nations Office for Outer Space Affairs (UNOOSA) showed a cumulative number of 14,281 objects—including satellites, probes, landers, crewed spacecraft, and space station flight elements—launched into space in 2022, an 18% increase from 12,118 in 2021 globally. This surge in satellite launches propels the satellite launch vehicle market forward.
What are the Key Segments in the Global Satellite Launch Vehicle Market?
The satellite launch vehicle market report covers various segments:
1) By Launch: Single Use Or Expendable, Reusable
2) By Subsystem: Structure, Guidance, Navigation And Control Systems, Propulsion Systems, Telemetry, Tracking And Command Systems, Electrical Power Systems, Separation Systems
3) By Payload: <500 Kg, 500-2,500 Kg, >2,500 Kg
4) By Orbit: Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Orbit (GEO)
5) By Application: Civil Satellite Launch, Military Satellite Launch
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Who are the Major Players in the Satellite Launch Vehicle Market?
Prominent companies operating in the satellite launch vehicle market include Mitsubishi Heavy Industries Ltd., Northrop Grumman Corporation, The Boeing Company, Space Exploration Technologies Corp., Airbus SE, Bellatrix Aerospace Private Limited, Masten Space Systems Inc., Lockheed Martin Corporation, Innovative Solutions In Space B.V., Indian Space Research Organisation, Blue Origin LLC, Arianespace SA, China Aerospace Science and Technology Corporation (CASC), ArianeGroup, Sierra Nevada Corporation, Thales, United Launch Alliance LLC, ROSCOSMOS, Antrix Corporation, Astra Space Inc., CAS Space, Eurockot Launch Services, Firefly Aerospace Inc., International Launch Services (ILS), LinkSpace, HyImpulse Technologies Corporation, OneSpace, PLD Space, Stratolaunch Systems LLC, Virgin Orbit LLC
What are the Key Trends in the Satellite Launch Vehicle Market?
Technological advancements in reusable launch vehicles serve as a key trend in the satellite launch vehicle market. Major companies in the market focus on developing products with advanced technologies to strengthen their market position. For instance, in April 2023, Relativity Space, a US-based aerospace manufacturing company, launched Terran R, a reusable launch vehicle built using advanced 3D-printed aluminum technology. It boasts impressive specifications, being 270 feet tall with a two-stage configuration, an 8-foot diameter, and a 5-meter payload fairing. 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 with an emphasis on first-stage reusability.
What Regions are Expanding in the Satellite Launch Vehicle Market?
In terms of regional analysis, Asia-Pacific was the largest region in the satellite launch vehicle market in 2024 and is expected to be the fastest-growing region in the global satellite launch vehicle market throughout the forecast period. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
What Does The Satellite Launch Vehicle Market Report 2025 Offer?
The Satellite Launch Vehicle Market research report from The Business Research Company offers information on global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities. A satellite launch vehicle is a rocket-powered vehicle used for the transport and launch of satellites or other payloads into space. They create a favorable environment to transport satellites into various types of orbits or to nearby planets.
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