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LEO Satellite Launch Vehicle (SLV) Market Size

Report ID: GMI12157
Published Date: Nov 2024
Report Format: PDF

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LEO Satellite Launch Vehicle Market Size

The global LEO satellite launch vehicle market was valued at USD 13.9 billion in 2023 and is estimated to grow at a CAGR of 13.7% from 2024 to 2032. Satellite constellations, such as SpaceX's Starlink, are transforming global internet access by deploying large networks of small satellites in Low Earth Orbit (LEO). These constellations aim to provide high-speed, reliable internet services to underserved and remote regions, significantly increasing the demand for frequent, cost-effective satellite launches.

LEO Satellite Launch Vehicle (SLV) Market

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Advancements in reusable rocket technology, exemplified by SpaceX's Falcon 9, are revolutionizing the space launch industry. By allowing rockets and components to be recovered and reused, these innovations significantly lower the cost per launch and increase the frequency of space access. For instance, in September 2024, the FCC released a proposal to support spectrum sharing and communications between Low-Earth Orbit (LEO) satellite constellations. This initiative is part of the FCC's ongoing efforts to enhance competition in the satellite broadband market, ensuring that various operators can effectively utilize the available spectrum for their services.

LEO Satellite Launch Vehicle (SLV) Market Report Attributes
Report Attribute	Details
Base Year:	2023
LEO Satellite Launch Vehicle (SLV) Market Size in 2023:	USD 13.9 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	13.7%
2032 Value Projection:	USD 43.9 Billion
Historical Data for:	2021 - 2023
No. of Pages:	220
Tables, Charts & Figures:	312
Segments covered:	Launch, Payload, Subsystem, Application
Growth Drivers:	Huge demand for new satellite technologies and services Innovations making launches cheaper and more frequent Fast growth in global connectivity and teamwork in space projects Strong funding and partnerships driving innovation and development Fast growth in affordable and flexible satellite solutions
Pitfalls & Challenges:	Growing space debris threatens satellite safety Regulatory complexity hinders satellite launch efficiency

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The rise of small and micro satellites, driven by advances in miniaturization and reduced launch costs, is opening new market opportunities. These compact satellites serve a range of applications, from Earth observation and scientific research to communications and navigation. For instance, in May 2023, NewSpace India Ltd designed a Small Satellite Launch Vehicle (SSLV) to carry satellites weighing up to 500 kg into a 500 km Low Earth Orbit (LEO). It provides a cost-effective solution for launching small satellites, enhancing the ability to deploy and manage constellations for various applications, such as Earth observation and communications, in LEO.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The global market size for LEO satellite launch vehicles was valued at USD 13.9 billion in 2023 and is expected to reach USD 43.9 billion by 2032, driven by a CAGR of 13.7% from 2024 to 2032.

The single-use/expendable segment accounted for over 66% of the market share in 2023, driven by its crucial role in heavy payload missions.

The North America market held over 36% of the global share in 2023, driven by leading players and significant government investments in space technology.

Major players in the industry include ABL Space Systems, ARCA Space, Arianespace SA, Blue Origin, C6 Launch Systems, EPrime Aerospace, and Eurockot Launch Services.