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Satellite Launch Vehicle (SLV) Market By Orbit (GEO, MEO, LEO, SSO), By Payload (Below 500 KG, Between 501 to 2,500 KG, Above 2,500 KG), By Launch Activity (Commercial, Non-Commercial), By Application (Communication, Earth Observation and Science, Technology Development and Demonstration, Space Science and Observation, Navigation), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 - 2027

  • Report ID: GMI2853
  • Published Date: Dec 2021
  • Report Format: PDF

Industry Trends

Satellite Launch Vehicle Market size exceeded USD 5 billion in 2020 and is projected to grow at a CAGR over 8% from 2021 to 2027. Rising internet usage is encouraging space companies to launch satellites to strengthen the communication network, which is driving the market growth.

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Satellite launch vehicles are witnessing growing demand across the globe owing to their ability to efficiently release payloads or satellites in a defined orbit. Space companies are focusing on enhancing the productivity of their satellite launch vehicles to enhance their share across the globe. Furthermore, the increasing spending by public and private organizations in space exploration activities is accelerating the market expansion.

Satellite launch vehicles are used to deliver satellites in various types of orbits or nearby planets, creating a favorable environment for the satellite launch vehicle market. Several government organizations are increasing their investments in space exploration and space station program activities.

Satellite launch vehicles are showcasing an upward market trend due to various initiatives taken by space companies to conduct probe launch tests. Market players, such as Space Exploration Technologies Corp (SpaceX) and Blue Origin, are partnering with startups in the satellite sector for satellite carrier development and to enhance their revenue share.

Key factors affecting the industry statistics include high initial costs of satellite launch vehicles and high investment requirements in establishing a satellite launch vehicle production facility. High research and development investments are required for new technology innovations, which will affect the industry growth. Additionally, issues pertaining to vertical landing and weight & height of space vehicles are affecting the market. The heavyweight of carrier rockets results in high friction, which creates excess heat in the Earth’s atmosphere, thereby contributing to temperature rise.

The market demand for satellite launch vehicles was adversely affected due to the outbreak of COVID-19 in 2020. In the first two quarters of 2020, the industry was challenged by several market factors including temporary suspension of component production and R&D facilities, the unavailability of skilled employees, and disturbance in global transport & logistics systems. Satellite launch vehicle manufacturers suffered a remarkable financial loss attributed to the rescheduling of various space missions.

Rising demand for satellite launch vehicles to deliver payloads into GEO

The geostationary orbit segment in the satellite launch vehicle market is expected to register 9% growth rate through 2027. Industry participant initiatives to develop satellite launch vehicles for GEO are creating a positive market outlook for this segment. Furthermore, satellites in GEO can cover a greater portion of the Earth, creating a favorable environment for industry expansion.

Market players are focusing on innovations in the GEO satellite launch vehicle segment to attract government space organizations and enhance their market value. Manufacturers including Mitsubishi Heavy Industries (MHI) and Arca Space Corporation are partnering with satellite providers for higher profitability.

Growing launches of below 500 kg satellites credited to their shorter development times and reasonable costs

Satellite launch vehicles with up to 500 kg payload capacity are poised to reach around USD 4 billion by 2027. Below 500 kg payload carrier rockets are experiencing high demand in space exploration activities owing to their high speed and high flexibility in carrying different types of payloads.

Space companies operating in the market are investing in compact rocket development to attract potential business clients. Market leaders, such as NASA, ISRO, and JAXA, are developing solid-fuel motors for compact rockets to acquire a higher position in the market.

Increasing investments of space companies in various space commercial activities including space tourist program

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Commercial launch activities in the satellite launch vehicle market are estimated to attain a CAGR of 9% till 2027. Increasing energy & mining sites exploration, IoT network proliferation, space tourist programs, and space debris removal & earth observation activities are fostering the satellite launch vehicle industry for commercial purposes.

Rising requirement for a robust communication network is propelling the satellite launch vehicle market

Carrier rocket adoption in communication applications is predicted to reach 3 billion by 2027. Growing usage of the Internet and government initiatives for the military communication department are accelerating SLV sales in the communication sector.

Increasing spending by governments and space companies on space exploration programs in the APAC region

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Asia Pacific satellite launch vehicle market valued at USD 2 billion in 2020 led by the supportive government initiatives for space programs and rising satellite launch tests. Regional countries including China, Japan, India, Australia, and South Korea are planning various space programs to stay competitive in this potential market.

Rocket carrier manufacturers adopting various business strategies to improve their market statistics

Key industry participants include Lockheed Martin Corporation, Airbus Defence And Space, ArianeGroup SAS., GeoOptics, Inc., ISIS - Innovative Solutions In Space B.V., Maxar Technologies, Mitsubishi Heavy Industries, Ltd, Northrop Grumman Corporation, Raytheon Technologies, The Boeing Company, Viasat, Inc., and Virgin Orbit.

Companies operating are focusing on several business strategies including collaborations to enhance their market representation. Market leaders, such as SpaceX, Boeing, Lockheed Martin Corporation, and Virgin Orbit, are establishing strategic launching in-orbit testing flights to attract potential clients with high-value contracts.

The Satellite Launch Vehicle (SLV) market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2021 to 2027 for the following segments:

Market, By Orbit

  • GEO
  • MEO
  • LEO
  • SSO

Market, By Launch activity

  • Commercial
  • Non-commercial

Market, By Payload

  • Below 500 kg
  • Between 501 to 2,500 kg
  • Above 2,500 kg

Market, By Application

  • Communication
  • Earth Observation and Science
  • Technology development and demonstration
  • Navigation
  • Space Science and Observation

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
  • Europe
    • France
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
  • Rest of the World
Authors: Preeti Wadhwani, Prasenjit Saha

Frequently Asked Questions (FAQ) :

Market size of satellite launch vehicle surpassed USD 5 billion in 2020 and is expected to grow at a CAGR of 8% from 2021 to 2027 driven by increasing internet usage and growing launch of satellites by space companies.
On the basis of orbit, satellite launch vehicles are categorized into MEO, LEO, GEO, and SSO vehicles.
The satellite launch vehicles with 500 kg payload capacity is set to cross USD 4 billion through 2027 owing to the advantages of high speed and flexibility in carrying various types of payloads.
Asia Pacific market was valued at USD 2 billion in 2020 and will grow with increasing satellite launch tests and supportive government initiatives for space programs.

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 12
  • Tables & Figures: 263
  • Countries covered: 6
  • Pages: 180
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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