Global Satellite Launch Service Market - 2022-2029

Global Satellite Launch Service Market - 2022-2029

Market Overview

The global satellite launch service market size was worth US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

A satellite launch service provider is a type of company which experience and expertise in launching a full-scale spacecraft. The satellite launch service provider is accountable and in charge of ordering, converting, construction, stacking and assembly and integrating payload and satellite launch. Additionally, suppose the service provider might find it convenient to delegate or sub-contracted various services to other companies. In that case, the service provider doesn't need to build all the parts of rockets it launches. For instance, United Launch Alliance has officially sub-contracted the developing GEM solid rocket motors for Delta II and Delta IV rockets to Alliant Techsystems.

Furthermore, the entry of private launch service providers has reduced the cost associated with the launch and augmentation of new technologies. For instance, GAUSS can provide launch services for smaller satellites, such as micro, nano and Pico, offering allied launch opportunities in low earth orbit. The hosted payload can be positioned within the organized launch's satellite in close collaboration with commercial operators of launch vehicles. There are two types of organizations that provide satellite launch services, including corporate and governmental and state-owned. Government organizations such as the military and defense forces might operationalize the launch by themselves.

The organizations' different launch services include rideshare launch, dedicated launch, constellation launch and exotic & custom orbits. Launch service providers also provide management services, including launch planning, mission management, separation systems, deployment sequencer, licensing, shipment environmental testing, integration services and satellite launch.

Market Dynamics

The satellite launch services market is driven by the increasing launch of the number of small satellites globally. For instance, according to United Nations Office for Outer Space Affairs, 7,389 individual satellites were present in space at the end of April 2021, increasing 27.97% compared to 2020.

Growing agreement to launch new space programs

The rising collaboration and agreement between different organizations to launch new space satellites and future integration and launch services bolster the market's growth in upcoming years. For instance, in March 2022, Dhruva Space Private Limited signed a commercial launch services agreement with NewSpace India Limited (NSIL) for the launch services by using DSOD Deployers on the Polar Satellite Launch Vehicle (PSLV) and Small Satellite Launch Vehicle (SSLV). Furthermore, the government's support to open the space sector for private and commercial organizations, such as startups, to increase the space technology market's penetration is fueling the market's growth.

High initial investment is hampering the growth of the market

Launching a satellite requires a very high initial investment and time to tackle the technical challenges that might halt the new satellite launch. This enables private players to invest heavily and maintain systems' accuracy, which is a key concern as a slight mistake might result in an overall loss of expenditure and time. The requirement for high initial investment is challenging the growth of the market.

COVID-19 impact analysis

The global satellite launch service market was halted by the outbreak of COVID-19 as the supply chain was disrupted, which delayed the launch of the new satellite. For instance, Space Exploration Technologies Corp. was affected by the deficits of liquid oxygen caused by increasing demands from hospitals to treat COVID-19 patients. SpaceX blends liquid oxygen with kerosene to provide power to the Falcon rockets and it also liquid oxygen mixed with liquid methane for its next-generation Starship system. Thus, the prolonged effect of COVID-19 has derailed the growth of the global satellite launch service market.

Segment Analysis

The global satellite launch service market is segmented into payload, launch platform, service type, launch vehicle, end-user and region. The global satellite launch service market is further segmented into cargo, human spacecraft, satellite, stratollite and testing probes. The satellite segment is expected to hold the largest market share during the forecast period. The high application of satellites in gathering useful data for mapping, mineral exploitation and land use planning is a major driving factor for the segment's growth, which fuels the market's growth.

Geographical Analysis

North America is expected to hold the largest market share due to increased expenditure by the government, which is coupled with growing space exploration activities in the region. Additionally, key industry players in the region, such as Lockheed Martin, United Launch Alliance and Blue Origin, are also driving the market's growth.

Asia-Pacific is projected to grow at the highest CAGR during the forecast period. Emerging nations such as China and India are increasing the deployment of satellite launch services and growing collaboration between the private players to launch new satellites fuels the market's growth. Moreover, favorable government policies to support the private sector in the region are aiding in the increased deployment of satellite launch services.

Competitive Landscape

The global satellite launch service market is highly competitive as the major automotive component manufacturers have a diverse portfolio of satellite launch services for various applications. Some of the major players contributing to the growth in the segment are Antrix Corporation, Arianespace SA, Boeing, China Great Wall Industry Corporation, Eurockot Launch Services GmbH, Lockheed Martin Corporation, Mitsubishi Heavy Industries Ltd., Space Exploration Technologies Corp., Space International Services and United Launch Alliance, LLC. The significant players adopt several growth strategies such as new product launches, acquisitions, joint ventures and collaborations, contributing to global growth in the industry.

On 5th April 2022, Arianespace signed an agreement with Amazon to launch 18 Ariane 6 launches for the Amazon project Kuiper over three years. It would enhance the partnership of both companies and will play a significant role in shaping project Kuiper of Amazon.

Lockheed Martin Corporation

Overview: The company was founded on 15th March 1995 and listed on New York Stock Exchange (NYSE). It is involved in research and development, manufacturing, and integrating advanced technology systems, products, and services. It serves both US and international customers in defense, civil and commercial applications. Furthermore, the key area of operation of the company is defense, space, intelligence, homeland security and information technology, including cybersecurity. The operating business segments are aeronautics, missiles and Fire Control (MFC), Rotary and Mission Systems (RMS) and space.

Product Portfolio: Space Exploration is a service provided by the company. The company is affiliated with Nanoracks and its parent company, Voyager Space, to build and function the first-commercial space station, Starlab. It is dedicated to conducting critical research, fostering industrial activity and confirming sustained U.S. presence in low-Earth orbit.

Key Developments: On 05th April 2021, ABL systems collaborated with Lockheed Martin to satellite launch the mission. Lockheed Martin would purchase up to 26 vehicles through 2025 and then up to 32 additional launches through 2029 and ABL systems would provide RS1 rockets to fast-track payload technologies into orbit.

Why Purchase the Report?

Visualize the composition of the satellite launch service market segmentation by payload, launch platform, service type, launch vehicle, end-user and region, highlighting the critical commercial assets and players.

Identify commercial opportunities in the satellite launch service market by analyzing trends and co-development deals.

Excel data sheet with thousands of satellite launch service market-level 4/5 segmentation data points.

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

Product mapping in excel for the critical product of all major market players

The global satellite launch service market report would provide an approx.: 77 market data tables, 76 figures and 240 pages.

Target Audience 2022

Chemical manufacturers

Machinery manufacturers

Industry Investors/Investment Bankers

Education & Research Institutes

Research Professionals