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Reusable Launch Vehicles Market Trends

Report ID: GMI9961
Published Date: Jun 2024
Report Format: PDF

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Reusable Launch Vehicles Market Trends

The reusable launch vehicle (RLV) market is undergoing rapid transformation as a result of various trends. The increased frequency of rocket reuse, with businesses such as SpaceX completing numerous flights with the same Falcon 9 booster are exhibiting increased durability and cost efficiency. There is also a push for rapid turnaround capabilities, as seen by SpaceX's Starship, which intends for daily launches to meet ambitious space travel and colonization objectives.

Next-generation RLVs, such as Blue Origin's New Glenn, are lowering costs and enhancing dependability by emphasizing full reusability. Relativity Space uses advanced manufacturing processes, such as 3D printing, to speed up production and reduce prices. For instance, in June 2024, The Indian Space Research Organization (ISRO) attempted the third landing experiment of its Reusable Launch Vehicle (RLV) — Pushpak. ISRO’s RLV-TD (technology demonstrator) is one of the most challenging endeavours towards developing essential technologies for a fully reusable launch vehicle to enable low-cost access to space. The configuration of RLV-TD is similar to that of an aircraft and combines the complexity of both the launch vehicle and the aircraft.

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The market size for reusable launch vehicles was valued at over USD 8.9 Billion in 2023 and is estimated to witness over 10% CAGR between 2024 and 2032, owing to significant cost reductions.

Fully reusable launch vehicles industry is expected to reach over USD 10 billion by 2032, as it significantly reduces operational costs compared to its partially reusable counterparts.

North America market held over 25% share in 2023 and will grow rapidly through 2032, owing to the presence of innovative commercial aerospace companies.

SpaceX, Blue Origin, ISRO (Indian Space Research Organization), China Aerospace Science and Technology Corporation (CASC), Virgin Galactic, and Lockheed Martin among others.