Satellite Launch Vehicle (SLV) Market - By Orbit (GEO, MEO, LEO, SSO), By Payload (Below 500 KG, Between 501 To 2,500 KG, above 2,500 KG), By Launch Activity (Commercial, Non-Commercial), By Application, By Launch & Forecast, 2022 - 2032

Satellite Launch Vehicle (SLV) Market - By Orbit (GEO, MEO, LEO, SSO), By Payload (Below 500 KG, Between 501 To 2,500 KG, above 2,500 KG), By Launch Activity (Commercial, Non-Commercial), By Application, By Launch & Forecast, 2022 - 2032

Global Satellite Launch Vehicle (SLV) Market will witness over 12.5% CAGR between 2023 and 2032. The increasing demand for satellite deployment for communication, navigation, earth observation, and scientific research drives the need for reliable launch services. The emergence of small satellites and constellations has led to a surge in launch missions. Additionally, advancements in rocket technology, growing competition among commercial space launch providers, and government support for space exploration are propelling the satellite launch vehicle market outlook.

The rising investments and efforts towards improving satellite launch vehicles support market growth. For instance, in February 2023, The Indian Space Research Organisation (ISRO) started preparing to transition its Small Satellite Launch Vehicle (SSLV) to the private sector. Following two successful development flights of this rocket designed for on-demand satellite placement in low-earth orbit (LEO) with payloads up to 500 kg, ISRO has chosen a competitive bidding process for transferring the mini-rocket to the industry. A recent study conducted by the Indian Space Association in collaboration with EY India indicated that the Indian domestic space industry has the potential to make a significant economic contribution of $13 billion by 2025 through commercial satellite launch services.

The overall Satellite Launch Vehicle (SLV) Market is classified based on orbit, application, and region.

The MEO segment will undergo significant development from 2023 to 2032. MEO is a critical region for global navigation and communication satellite constellations. The growing need for advanced positioning and connectivity services, coupled with the expansion of satellite networks, drives the demand for efficient MEO launches. As a result, the SLV market demand experiences increased interest in catering to this specific orbital space.

The communication segment will register a notable CAGR from 2023 to 2032. With the ever-growing need for global connectivity and data transmission, communication satellites play a pivotal role. As a result, the demand for reliable and efficient SLVs to launch and maintain these satellites in various orbital positions continues to grow, meeting the escalating demands of the global communication industry.

Europe satellite launch vehicle (SLV) market will showcase an appreciable CAGR from 2023 to 2032. With a growing emphasis on space exploration, navigation, Earth observation, and telecommunications, the need for reliable launch services could witness an upward trend. European space agencies, as well as commercial satellite operators, are fueling this demand, fostering a competitive and dynamic SLV market in the region to support various space endeavors.