Are you familiar with satellite launch vehicles? Whether yes or no, this blog will provide you with valuable and informative insights that might expand your knowledge on these vehicles developed by ISRO and satellite launch vehicle market growth.
Satellite launch vehicles, also known as rockets or launchers, are used to place the satellites in their specific orbits. The aim is to deliver the satellite into its intended orbit, where it can perform its assigned tasks, such as weather monitoring, Earth observation, communication, scientific research, and more. There are different types of satellite launch vehicles available, ranging from small to heavy-lift rockets.
The payload capacity and intended use of various satellite launch vehicles determine their classification. Small launch vehicles are specifically designed to accommodate payloads weighing in the range of a few hundred kilograms. On the other hand, medium and heavy-lift vehicles possess the capability to transport payloads weighing several tons into orbit. Here are some examples of satellite launch vehicles:
The satellite launch vehicle market is anticipated to hit USD 14.74 billion by 2032 at a CAGR of 12.22% from USD 4.80 billion in 2022. The launch vehicle sector has experienced a surge in the trend towards outsourcing manufacturing in recent years due to factors including decreased manufacturing costs, improved efficiency, and accessibility to specialized knowledge.
To Get Insights on Satellite Launch Vehicle Market: Request a Free Sample Report
By Vehicle: Medium to heavy segment witnessed the largest market share in 2022 because this vehicle type can carry
By Type: Reusable category is expected to hold the highest revenue share during the forecast period. Reusable launch vehicles (RLVs) are satellite launch vehicles that can be recovered and repurposed once a payload has been placed into orbit. Unlike single-use launch vehicles, which must be discarded after just one flight, reusable launch vehicles can be used repeatedly, reducing the cost of space travel.
Prior to the market expansion for satellite launch vehicles, only larger satellite payloads were delivered to space, but a number of players, such as governmental organizations, companies, laboratories, and colleges, started launching satellites that were smaller in size. Over the past ten years, the popularity of small satellite launches has increased because of the rise in demand for space-based services, including data transfer, communication, monitoring, and commerce.
Overall, the satellite launch vehicle market is expected to witness sustained growth in the coming years, driven by increased demand, technological advancements, and a more diverse and competitive landscape. The market is expected to create opportunities for both established players and new entrants.
Attainment of client satisfaction being our motto, we at Polaris are happy to offer you multitude of reasons for why you should select us for your businesses.
Our commitment to our clients lies not only from the inception of our pre-on boarding discussions but also beyond the completion and delivery of our services.
We categorically offer custom-made/ tailored services for our syndicated research reports to provide you insights to meet the strategic requirements of your organization.
On lines of the industry best-practices, we offer our clients the finest in research and consulting services with the most reliable and accurate research findings.