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Commercial Satellite Launch Service Market Size

Report ID: GMI2600
Published Date: Oct 2024
Report Format: PDF

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Commercial Satellite Launch Service Market Size

The global commercial satellite launch service market was valued at USD 7.2 billion in 2023 and is estimated to grow at a CAGR of over 13% from 2024 to 2032. Increasing reliance on satellite-based communication systems for internet access, especially in remote and underserved areas, is driving demand for satellite launches.

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Satellite connectivity is becoming essential in addressing the global digital divide, especially in remote, rural, and underserved regions where terrestrial infrastructure like fiber optics or cellular towers are difficult or costly to deploy. For instance, in September 2024, AST SpaceMobile launched its first five BlueBird commercial satellites. The company aims to create a space-based cellular network accessible by regular smartphones for both business and government use.

The development of reusable launch vehicles, such as SpaceX’s Falcon 9, has significantly reduced the cost of satellite launches. Reusability allows launch providers to offer more competitive pricing, which is attractive to satellite operators. Additionally, advancements in rocket technology, miniaturization of satellites, and improved payload capabilities enable operators to deploy multiple satellites in a single launch, increasing the efficiency of launches. This trend is facilitating a higher frequency of satellite deployments, contributing to market growth.

Commercial Satellite Launch Service Market Report Attributes
Report Attribute	Details
Base Year:	2023
Commercial Satellite Launch Service Market Size in 2023:	USD 7.2 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	13.2%
2032 Value Projection:	USD 21.8 Billion
Historical Data for:	2021 - 2023
No. of Pages:	210
Tables, Charts & Figures:	308
Segments covered:	Orbit, payload, launch, application & region
Growth Drivers:	Increasing demand for satellite connectivity Adoption of earth observation and remote sensing properties Technological advancements in launch systems The expansion of the global navigation systems Expansion of satellite internet services
Pitfalls & Challenges:	Launching satellites into space is a costly endeavor Technical challenges can lead to delays in launch schedules

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Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The global market size for commercial satellite launch service was valued at USD 7.2 billion in 2023 and is estimated to grow at a CAGR of over 13% from 2024 to 2032, driven by increasing reliance on satellite-based communication systems for internet access in remote areas.

The commercial satellite launch service industry from LEO segment is expected to register a CAGR of over 13% during the forecast period due to the need for high-speed internet access in rural and remote areas, which is propelling investments in LEO satellite networks.

North America dominated the global industry in 2023, accounting for a share of over 35%, driven by the growing demand for global connectivity including broadband internet access, communication, and IoT connectivity.

Major players operating in the industry include Lockheed Martin, Maritime Launch Services, Maxar Technologies, Northrop Grumman, Relativity Space, Rocket Lab, Skyrora, SpaceX, and United Launch Alliance.