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 commercial space industry depends critically on affordable access to space. Launch vehicle producers are reducing their costs with the aid of competition by utilizing better manufacturing processes and cutting-edge technology. As a result, more payload will likely be launched into space over the next ten years. Many businesses want to offer a transport for these payloads. Nevertheless, there are already too many companies on the small launch vehicle market, with over 75 of them having vehicles in different stages of development or operation. Therefore, the most likely candidates for long-term sustainability are launch service providers who can create a market presence early on and demonstrate their reliability in delivering customer payloads.
Know more about this report: Request for sample pages
Due to a number of variables, including decreased manufacturing costs, increased efficiency, and accessibility to specialised knowledge, the launch vehicle industry has seen a rise in the trend towards outsourcing manufacturing in recent years.
Cost savings are one of the main justifications for outsourcing production in the launch vehicle sector. Businesses can benefit from cheaper labour and material costs in other nations by outsourcing their production. When it comes to large-scale projects in particular, this can result in substantial cost savings.
Additionally, outsourcing can make the production process more effective. Launch vehicle companies can take advantage of the newest manufacturing techniques and technologies by collaborating with specialized manufacturers. This can speed up production and boost quality.
Access to specialized knowledge is another benefit of outsourcing production in the space industry. Outsourcing can fill in the gaps where space businesses lack the internal knowledge or resources to produce specific parts or systems.
Outsourcing, though, is not without its difficulties and dangers. For instance, there might be issues with quality control, communication difficulties, and intellectual property security when it comes to the introduction of vehicles. When deciding whether to outsource manufacturing, it is crucial for launch vehicle companies to carefully consider these aspects. They also need to collaborate closely with their manufacturing partners to reduce any possible risks.
Growth Drivers
Typically for low Earth orbit (LEO) operations, small satellite launch vehicles are made to transport payloads weighing up to several hundred kilograms. Due to the growth in small satellite constellations, which are used for a variety of purposes including Earth observation, communications, and scientific study, these launch vehicles are becoming more and more common.
Small spacecraft now have a lot more significance than before. Prior to the satellite launch vehicle market expansion, only larger satellite payloads were launched into space, but a variety of players, including companies, governmental organizations, colleges, and laboratories, have begun sending satellites, the majority of which are smaller in size. Small satellite launches have become increasingly popular over the past ten years as a result of the growing demand for space-based services like data transmission, contact, surveillance, and commerce. Manufacturers and operators of satellites cannot afford to pay expensive transportation costs or wait months to launch their satellites. Organizations are now concentrating on creating satellite constellations as a consequence.
The market is primarily segmented based on Vehicle, type and region.
By Vehicle |
By Type |
By Region |
|
|
|
Know more about this report: Request for sample pages
A missile orbital launch vehicle classified as a medium to heavy launch vehicle can carry payloads up to 20,000 kilograms (44092.4 pounds) into geostationary, medium earth orbit (MEO), and low earth orbit (LEO). (GEO). Some examples of middle to heavy vehicles include the Ariane 5, Proton-M, Delta IV Heavy, and others. The benefits of middle to heavy launch vehicles are as follows. Increased Payload Capacity: Medium to heavy launch vehicles have a much higher payload capacity than lighter rockets, enabling the orbital deployment of bigger and more intricate satellites, telescopes, and scientific equipment.
Satellite launch vehicles that can be recovered and used again after launching a payload into orbit are known as reusable launch vehicles (RLVs). 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 could significantly lower the expense of space travel.
The rocket booster and the spacecraft or payload are usually the two main parts of reusable launch vehicles. The spacecraft or payload is the item being launched, and the rocket booster is a component of the vehicle that provides the initial thrust to send the spacecraft into space.
The largest share is anticipated to come from Asia Pacific during the forecasted timeframe. In the upcoming years, a large number more satellites will be constructed and deployed. Numerous satellite service companies, including Speedcast 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 demand for mobile broadband and the expansion of digital broadcasting services are two major drivers of the satellite launch vehicle industry in Asia Pacific.
The major companies operating in the market are SpaceX, United Launch Alliance, LLC, Northrop Grumman Corporation, Blue Origin, and Mitsubishi Heavy Industries, Arianespace, Astra Space, Inc., Rocket Lab USA, Inc., ABL Space Systems, Firefly Aerospace Inc., China Aerospace Science and Technology Corporation (CASC), and Interorbital Systems. The satellite launch vehicle market for the years 2023 to 2032 is covered in the study along with various industry trends and fresh technological developments.
Report Attributes |
Details |
Market size value in 2023 |
USD 5.22 billion |
Revenue forecast in 2032 |
USD 14.74 billion |
CAGR |
12.22% from 2023 - 2032 |
Base year |
2023 |
Historical data |
2019 - 2021 |
Forecast period |
2023 - 2032 |
Quantitative units |
Revenue in USD billion and CAGR from 2023 to 2032 |
Segments covered |
By Vehicle, By Launch by Region |
Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
Key companies |
SpaceX, United Launch Alliance, LLC, Northrop Grumman Corporation, Blue Origin, and Mitsubishi Heavy Industries, Arianespace, Astra Space, Inc., Rocket Lab USA, Inc., ABL Space Systems, Firefly Aerospace Inc., China Aerospace Science and Technology Corporation (CASC), and Interorbital Systems |
key companies in satellite launch vehicle market are SpaceX, United Launch Alliance, LLC, Northrop Grumman Corporation, Blue Origin, and Mitsubishi Heavy Industries, Arianespace, Astra Space, Inc., Rocket Lab USA, Inc., ABL Space Systems.
The satellite launch vehicle market projected CAGR of 12.22% in forecast period.
The satellite launch vehicle market report covering key segments are vehicle, type and region.
key driving factors in satellite launch vehicle market are advancement in satellite launch vehicle design.
The global satellite launch vehicle market size is expected to reach USD 14.74 billion by 2032.