Satellite Launch Vehicle Market Forecasts to 2028 – Global Analysis By Vehicle (Small (<350,000 kg) and Medium to Heavy (>350,000 kg)), Payload (<500 kg, 500-2,500 kg and >2,500 kg), Orbit (Low Earth Orbit (LEO), Medium Earth Orbit (MEO) and Geostationary

Satellite Launch Vehicle Market Forecasts to 2028 – Global Analysis By Vehicle (Small (<350,000 kg) and Medium to Heavy (>350,000 kg)), Payload (<500 kg, 500-2,500 kg and >2,500 kg), Orbit (Low Earth Orbit (LEO), Medium Earth Orbit (MEO) and Geostationary Orbit (GEO)), Launch (Single-use/Expendable and Reusable), Stage (Single Stage, Two Stage and Three Stage), Subsystem, Application and By Geography

According to Stratistics MRC, the Global Satellite Launch Vehicle Market is accounted for $15.7 billion in 2022 and is expected to reach $36.5 billion by 2028 growing at a CAGR of 15.1% during the forecast period. The market for satellite launch vehicles is expanding quickly as a result of the rising need for commercial, governmental, and military satellites. These satellites are used for many different things, including communication, earth observation, navigation, and scientific research. To increase their market share globally, space industries are concentrating on increasing the productivity of their satellite launch vehicles.

According to the China National Space Administration, China plans to launch approximately 100 satellites by 2025.

Market Dynamics

Driver:

Rise in applications of small satellite launch vehicles.

Low Earth Orbit (LEO) missions often require for the use of small satellite launch vehicles, which may accommodate payloads weighing up to several hundred kilogram’s. Because to the growth in tiny satellite constellations, which are used for a variety of purposes including Earth observation, communications, and scientific research, these launch vehicles are becoming more and more common. Little satellites now have a lot more significance than before. Small satellite launches have been increasingly popular over the past ten years as a result of the growing demand for space-based services like data transmission, communication, monitoring, and commerce. As a result, businesses are now concentrating on creating satellite constellations.

Restraint

Oversaturation in launch vehicle market

The commercial space economy depends critically on affordable access to space. Launch vehicle producers are reducing their prices with the aid of competition by utilising enhanced production processes and cutting-edge technologies. As a result, more cargo will likely be launched into orbit over the next ten years. Many businesses want to offer a ride for large payloads. Therefore, the most likely candidates for long-term sustainability are launching service providers who can establish a market presence early on and demonstrate their reliability in delivering customer payloads.

Opportunity

Increased outsourcing of manufacturing activities

Many considerations, including decreased production costs, increased efficiency, and availability to specialist knowledge, there has been a growing tendency towards outsourcing manufacture in the launch vehicle business in recent years. Businesses can benefit from cheaper labour and material prices in other nations by outsourcing their manufacturing. When it comes to large-scale projects in particular, this can result in significant cost reductions. Outsourcing, though, is not without its difficulties and dangers. When considering whether to outsource manufacture, it is crucial for launch vehicle firms to carefully analyse these aspects. They also need to collaborate closely with their manufacturing partners to reduce any potential hazards.

Threat

Reliability and safety of launch vehicles

A significant problem facing the business is ensuring the safe and reliable operation of satellite launch vehicles. Launch vehicles must be reliable and safe because a malfunction during launch could result in the loss of the payload as well as possible danger to people and property on the ground. Businesses are making significant investments in R&D to increase the dependability and safety of their launch vehicles in order to deal with these issues. Additionally, the business uses machine learning and data analytics to enhance the effectiveness and security of its launches. The industry continues to face significant challenges in ensuring the safe and reliable operation of satellite launch vehicles, and businesses are continuously looking for ways to advance the technology in their launch vehicles.

Covid-19 Impact

The COVID 19 epidemic has significantly altered the commercial environment. Every participant in the industry has been impacted by the pandemic. Moreover, COVID 19 has had a significant negative influence on the satellite industry, which has caused the reusable launch vehicles to be suspended or delayed. ISRO, SpaceX, and other space research agencies are the main market participants in this sector. They have created new launch vehicle delivery and production capabilities. To safeguard their staff against COVID 19, the businesses, however, are adhering to all safety regulations.

The geostationary orbit (GEO) segment is expected to be the largest during the forecast period

The geostationary orbit (GEO) segment is estimated to have a lucrative growth, due to industry participant initiatives to build satellite launch vehicles for GEO. Moreover, GEO satellites can cover a larger area of the planet, fostering an atmosphere that is beneficial for industry growth. To draw government space organisations and increase their market value, market players are concentrating on advances in the GEO satellite launch vehicle category.

The Reusable launch vehicles segment is expected to have the highest CAGR during the forecast period

The Reusable launch vehicles segment is anticipated to witness the fastest CAGR growth during the forecast period. Reusable launch vehicles (RLVs) are satellite launch vehicles that can be recovered and repurposed once a payload has been sent into orbit. Reusable launch vehicles can be used more than once, in contrast to single-use launch vehicles, which must be discarded after a single flight. This might significantly lower the cost of space travel. The rocket booster and the spacecraft or payloads are typically the two major parts of reusable launch vehicles.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to many satellite service providers, including Speed cast International (Hong Kong) and ITC Global (Australia), are present in this area to meet the rising demand for Direct-to-Home (DTH) entertainment services and digital television. The desire for mobile broadband and the expansion of digital broadcasting services are two major drivers of the satellite launch vehicle industry in Asia Pacific.

Region with highest CAGR

Europe is projected to have the highest CAGR over the forecast period, owing to the influx of new players into the space launch services market and the rapid progress of launch technology. Also, the UK satellite launch vehicle industry had the fastest-growing market in the European region, while the German satellite launch vehicle industry had the biggest market share.

Key players in the market

Some of the key players profiled in the Satellite Launch Vehicle Market include Arca Space Corporation, Lockheed Martin Corporation, Mitsubishi Heavy Industries Ltd, Northrop Grumman Corporation, Boeing, Blue Origin, Space Exploration Technologies Corporation, Eurockot Launch Services GmbH, Indian Space Research Organization, Bristol Airspace, Kelly Space & Technology Inc., Brunswick Corporation, Virgin Orbit, E-Prime Aerospace, Scaled Composites LLC, SpaceX’s Falcon and United Launch Alliance.

Key Developments

In January 2023, SpaceX’s Falcon 9 launched 56 Starlink satellites to low-Earth orbit from Space Launch Complex 40 at Cape Canaveral Space Force Station, Florida. This was the ninth launch and landing for this Falcon 9 first-stage booster.

In October 2022, United Launch Alliance (US) successfully launches two key SES commercial c-band satellites. Atlas V launched SES-20 and SES-21 to deliver TV, radio, and critical data transmission services in support of the FCC’s 5G national transition.

In February 2022, Northrop Grumman Corporation Corporation’s Space Logistics announced a launch agreement for its Mission Robotic Vehicle (MRV) spacecraft, and the sale of its first Mission Extension Pod (MEP).

Vehicles Covered:
• Small (<350,000 kg)
• Medium to Heavy (>350,000 kg)

Payloads Covered:
• <500 kg
• 500-2,500 kg
• >2,500 kg

Orbits Covered:
• Low Earth Orbit (LEO)
• Medium Earth Orbit (MEO)
• Geostationary Orbit (GEO)

Launch Covered:
• Single-use/Expendable
• Reusable

Stages Covered:
• Single Stage
• Two Stage
• Three Stage

Subsystems Covered:
• Guidance, Navigation & Control Systems
• Structure
• Telemetry, Tracking & Command Systems
• Propulsion Systems
• Separation Systems
• Electrical Power Systems

Applications Covered:
• Remote Sensing
• Communication
• Research & Development
• Navigation
• Scientific
• Meteorology
• Earth Observation
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements