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The satellite launching vehicle industry is undergoing substantial alterations, mirroring the changing environment of the space program, satellite deployment, and space-related commercialization. In the present industry overview, numerous significant trends are influencing the current state of the satellites launch vehicle market.
One notable development is the grown commercialization of rocket launches. As more private companies enter the orbital sector, there is an increased demand for dependable and cheap satellite launch services. This tendency is hastening the development of smaller, more versatile launchers, which are typically intended to transport small and medium-sized satellites. The change to commercial launches is altering the competitive environment, with new entrants helping to create a more varied and dynamic market.
Furthermore, the industry is experiencing an increase in the fabrication of reusable launchers. SpaceX's achievement in recovering and reusing the early portions of its Falcon 9 in addition to Falcon Heavy rockets has encouraged a reusability trend within the satellite launch vehicle sector. Reusable launch systems have an opportunity to dramatically lower launch costs, rendering space travel more affordable to a wider range of customers. This trend is projected to intensify as more aerospace businesses invest in reusing technologies to increase the cost-effectiveness of space missions.
Furthermore, the satellite launch vehicle industry is evolving toward smaller constellation of satellites along with mega-constellations. With the increased demand for global connection, observation of the earth, and the rise of IoT (Internet of Things) uses, there is a greater need for regular satellite launches to construct constellations that include tiny satellites. Launch providers are responding to this trend by providing rideshare options, which allow numerous small satellites to collaborate on one launch. This strategy improves cost-effectiveness and flexibility, meeting the different needs of satellite operators.
Furthermore, international cooperation within space exploration is an important development in the satellite launching vehicle market. Governments and aerospace organizations are increasingly working together to share assets, knowledge, and launch capabilities. This collaborative strategy not only promotes worldwide cooperation in space exploration, but it also allows for cost-sharing for difficult missions. As more governments enter the space sector, collaborative enterprises are becoming an essential tool for pooling resources and achieving common goals in satellite installation and exploration.
Another noteworthy trend is the development of specialist tiny satellite launchers. As the requirement for launching small payloads increases, dedicated launch vehicles developed exclusively for small satellites are becoming more popular. These specialist small satellite launchers provide customized options for the specific needs of tiny satellite missions, resulting in a quicker and cost-effective method of reaching orbit. The industry is seeing the development of numerous launchers tailored to certain payload capacities and mission characteristics.
To summarize, the industry is experiencing transformative changes as a result of increased space commercialization, the quest of reusability, the rise of tiny satellites constellations, global cooperation, and the creation of specialized small satellite launchers. These trends represent the industry's overall response to changing consumer needs and technological improvements. As the space sector expands, the industry is primed for additional innovation and growth, creating new opportunities for both current businesses and new entrants into the constantly evolving space launch ecosystem.
Satellite Launch Vehicle Market Highlights:
Global Satellite Launch Vehicle Market Overview
Satellite Launch Vehicle Market Size was valued at USD 17.2 billion in 2022. The Satellite Launch Vehicle market industry is projected to grow from USD19.456 billion in 2023 to USD 40.766 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 13.12% during the forecast period (2023 - 2030). The Increase in Defence Expenditure and more bariatric procedures are the key market drivers enhancing the market growth.
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Satellite Launch Vehicle Market Trends
Increase in Defence Expenditure is driving the market growth.
The Defence and government segment has the highest Market CAGR. Armed forces worldwide have been strengthening their satellite networks to perform more efficient intelligence, surveillance, and reconnaissance (ISR) missions that essentially need secure and robust communication channels accessible from anywhere by the forces. The armed forces demand more data bandwidth and reliable communication infrastructure to meet the growing requirements for large-scale data transfer. The development of tactical communication systems, tactical data links, modern network-centric battle force capabilities, and advanced SATCOMs are significant applications of military communication satellites. Improved use of SATCOM may simplify the integration of C4ISR, thus enabling the better use of UAVs and more advanced administrative, support, and personal welfare services. In this regard, several countries emphasize launching communications satellites for better data transfer capabilities. For instance, in November 2021, three CERES satellites were launched onboard the Vega rocket. The military signals intelligence satellite was developed for the French armed forces with Airbus as the prime contractor and Thales in charge of the payload, user ground segment, and satellite platform. The satellite was developed for Signals Intelligence (SIGINT) applications.
The launches of satellites, especially smaller ones, are being done on a large scale by universities, colleges, and even high school students. With governments and various foundations currently funding research in civil satellites, the constant growth of this segment is expected during the forecast period. As part of NASA’s CubeSat Launch Initiative, which provides opportunities for small satellite payloads built by universities, high schools, and non-profit organizations to fly on upcoming launches, NASA provides these CubeSat developers a low-cost pathway to conduct scientific investigations and technology demonstrations in space. This enables students, teachers, and faculty to obtain hands-on flight hardware development experience. Such developments are expected to drive the Satellite Launch Vehicle market revenue.
Additionally, the small satellite launches market issues are looked at by organizations in the market development. The absence of a talented labor force and protection from flexibility toward new advancements is another element that hampers market development.
Satellite Launch Vehicle Market Segment Insights
Satellite Launch Vehicle Orbit Insights
The Satellite Launch Vehicle market segmentation, based on type includes sun-synchronous Orbit, medium earth orbit, low Earth orbit, geosynchronous Orbit, number of payloads, and launch activity. The low earth orbit segment dominated the market; the demand for earth observation (EO) data is increasing for various applications, including scientific research, environment, and metrology. Satellites, including CubeSats, can now transfer terabytes of data and photographs of the earth in real time, enabling a wide range of artificial intelligence (AI)-driven applications that reveal previously unavailable insights on world-scale economic, social, and industrial activities. The demand for satellite data is driven by security in military operations and money transfer applications.
Figure 1: Satellite Launch Vehicle Market, By Orbit, 2022 & 2030 (USD billion)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Satellite Launch Vehicle Orbit by Application Insights
Based on Application, the satellite launch vehicle market segmentation includes Research & Development, navigation, communication, scientific, meteorology, earth observation, and remote sensing. The communication segment dominated the market. This is due to deploying large constellations of small satellites for broadband internet access. Companies such as SpaceX, OneWeb, and Amazon's Project Kuiper plan to launch thousands of small satellites into Orbit to provide high-speed internet access to underserved areas. The earth observation segment is also expected to grow significantly, with the increasing use of satellite imagery for environmental monitoring, disaster response, and other applications. The demand for high-resolution and near-real-time satellite imagery drives the development of new remote sensing technologies and platforms and more frequent satellite launches.
For Instance, July 2022
Northrop Grumman Corporation delivered the ESPAStar-D spacecraft bus to L3Harris Technologies. The platform supports the Navigation Technology Satellite-3 (NTS-3) mission for the Air Force Research Laboratory, which is scheduled to be launched from Cape Canaveral in 2022.Satellite Launch Vehicle Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American satellite launch vehicle market will dominate, owing to an increase in Defence Expenditure and more bariatric procedures, which will boost the market growth in this Region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: SATELLITE LAUNCH VEHICLEMARKET SHARE BY REGION 2022 (%)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's satellite launch vehicle market accounts for the second-largest market share due to the new entrants in the space launch services market and increasing technological advancements in launch technologies. Further, the German satellite launch vehicle Industry held the largest market share, and the UK satellite launch vehicle industry was the fastest-growing market in the European Region.
The Asia-Pacific satellite launch vehicle market is expected to grow at the fastest CAGR from 2023 to 2030. This is because they rapidly increase their investments in developing space infrastructure to cater to the growing demand. Moreover, China’s satellite launch vehicle industry held the largest market share, and the Indian satellite launch vehicle market was the fastest-growing market in the Asia-Pacific region.
Satellite Launch Vehicle Key Market Players& Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the Satellite Launch Vehicle market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The satellite launch vehicle industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the satellite launch vehicle industry to benefit clients and increase the market sector. In recent years, the satellite launch vehicle industry has offered some of the most significant advantages to defense. Major players in the satellite launch vehicle market, including Space Exploration Technologies Corporation (US), Eurockot Launch Services GmbH (Germany), Bristol Airspace (UK), Kelly Space & Technology Inc. (US), Virgin Orbit (US), E-Prime Aerospace (US), Scaled Composites LLC (US) and others, are attempting to increase market demand by investing in research and development operations.
Orbital Express Launch Ltd., or Orbex, is a United Kingdom-based aerospace company developing a small commercial orbital rocket called Prime. Orbex is headquartered in Forres, Moray, Scotland, and has subsidiaries in Denmark and Germany. The U.K.-based rocket firm Orbex unveiled a prototype of its environmentally friendly small-satellite launching rocket. The reusable Prime rocket is the first micro-launcher developed in Europe. The company announced that it is preparing for the rocket's debut flight in a few months.
Northrop Grumman Corporation is an American multinational aerospace and defense technology company. With 90,000 employees and annual revenue of over $30 billion, it is one of the world's largest weapons manufacturers and military technology providers. Northrop Grumman Corporation's expertise brings technology solutions to life in autonomous systems, cyber, C4ISR, strike, space, and logistics and modernization for our customers around the globe. Northrop Grumman Corporation delivered the ESPAStar-D spacecraft bus to L3Harris Technologies. The platform supports the Navigation Technology Satellite-3 (NTS-3) mission for the Air Force Research Laboratory, which is scheduled to be launched from Cape Canaveral in 2022.
Key Companies in the Satellite Launch Vehicle market include.
- Northrop Grumman Corporation (US)
- Arca Space Corporation (US)
- Lockheed Martin Corporation (US)
- Boeing (US)
- Mitsubishi Heavy Industries Ltd (Japan)
- Blue Origin (US)
- Indian Space Research Organization (India)
- Space Exploration Technologies Corporation (US)
- Eurockot Launch Services GmbH (Germany)
- Bristol Airspace (UK)
- Kelly Space & Technology Inc. (US)
- Virgin Orbit (US)
- E-Prime Aerospace (US)
- Scaled Composites LLC (US)
- Brunswick Corporation
Satellite Launch Vehicle Industry Developments
For Instance, May 2022 The U.K.-based rocket firm Orbex unveiled a prototype of its environmentally friendly small-satellite launching rocket. The reusable Prime rocket is the first micro-launcher developed in Europe. The company announced that it is preparing for the rocket's debut flight in a few months.
For Instance, September 2021 The Indian Space Research Organization (ISRO) announced that it is working on technologies that will enable it to land the GSLV Mk-III launch vehicles vertically, like SpaceX is doing, and recover the first and second stages. This will enable the space agency to reuse the GSLV Mk-III, thus helping it save money.
Satellite Launch Vehicle Market Segmentation
Satellite Launch Vehicle Orbit Outlook
- Sun-Synchronous Orbit
- Medium Earth Orbit
- Low Earth Orbit
- Geosynchronous Orbit
- Number of Payloads
- Launch Activity
- Supplements
Satellite Launch Vehicle Application Outlook
- Research & Development
- Navigation
- Communication
- Scientific
- Meteorology
- Earth Observation
- Remote Sensing
Satellite Launch Vehicle Regional Outlook
-
North America- US
- Canada
-
Europe- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
-
Asia-Pacific- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
-
Rest of the World- Middle East
- Africa
- Latin America
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