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Satellite Launch Vehicle (SLV) Market Trends

Report ID: GMI2853
Published Date: Aug 2023
Report Format: PDF

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Satellite Launch Vehicle (SLV) Market Trends

Satellite launch vehicle market has witnessed a transformative shift with the rise of commercial launch service providers, bringing about affordability and flexibility. Emerging companies, such as SpaceX, Blue Origin, and Rocket Lab, have challenged the traditional aerospace landscape by offering innovative launch solutions. SpaceX's reusable Falcon 9 offers optimized cost structures and launch frequency, allowing for previously unattainable commercial & scientific missions. Blue Origin's New Shepard suborbital vehicle is opening doors to space tourism, while Rocket Lab's Electron rocket caters to the growing demand for launching smaller payloads with flexibility. This commercialization has expanded launch options, lowered barriers to entry, and intensified the competition, reshaping the SLV market dynamics.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Market size for satellite launch vehicle reached USD 14.4 billion in 2022 and will register 12.5% CAGR from 2023-2032 due to its widespread usage in communication, navigation, earth observation, scientific research, and national security worldwide.

Satellite launch vehicle market from the reusable segment registered 40% share in 2022 and will witness substantial growth by 2032 on account of innovations in propulsion systems, materials science, reentry technology, and landing mechanisms.

North America recorded 35% share of the satellite launch vehicle industry in 2022 and is expected to garner significant CAGR from 2023-2032 owing to the growing technological advancements and strategic initiatives in the region.

ABL Space Systems, ARCA Space, Arianespace SA, Blue Origin, EPrime Aerospace, Eurockot Launch Services, Firefly Aerospace, Gilmour Space Technologies, Mitsubishi Heavy Industries, and Northrop are some of the major satellite launch vehicle companies worldwide.