The Commercial Satellite Launch Service Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Commercial Satellite Launch Service Global Market Report 2024, The commercial satellite launch service market size has grown strongly in recent years. It will grow from $7.2 billion in 2023 to $7.76 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to increased demand for satellite constellations, rise in communication satellite deployments, expanding remote sensing and earth observation activities, emergence of small satellite market, global growth in space economy and commercialization.
The commercial satellite launch service market size is expected to see strong growth in the next few years. It will grow to $10.13 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to continued expansion of satellite broadband services, surge in demand for on-demand launch services, growth in the space tourism industry, rapid deployment of next-generation satellites, rise of small launch service providers. Major trends in the forecast period include collaboration and partnerships, commercialization of heavy-lift launch vehicles, flexible launch options for ride-share missions, technological advancements in launch vehicles, focus on environmental sustainability.
Increasing demand for commercial satellites is expected to propel the growth of the commercial satellite launch service market going forward. Commercial satellites are owned, operated, and used by private enterprises or commercial organizations. The commercial satellite launch service is used to improve the capabilities of satellites launched into earth orbit to carry out successful space missions by providing pre-launch and post-launch services such as management services, integration and logistics, cargo services, telemetry support, and others. For instance, according to Arianespace SA, a France-based aerospace company that offers commercial launch services, the company’s revenues have surpassed 1.25 billion euros ($1.36 billion), representing a 30% increase over 2020. It has a backlog of 36 releases, with 22 more scheduled for 2021. Furthermore, in September 2021, according to The Conversation, an Australia-based publisher of research-based news and analysis, around 114 launches took place, sending 1,300 satellites into space in the year 2020, and it’s expected to rise in the upcoming years. Therefore, the increasing demand for commercial satellites drives the commercial satellite launch service market.
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The commercial satellite launch service market covered in this report is segmented –
1) By Orbit Type: Low-Earth orbit (LEO), Medium Earth Orbit (MEO), Geosynchronous Orbit (GEO), Highly Elliptical Orbit (HEO)
2) By Size Type: Large, Medium, Small, Micro
3) By Application type: Navigation, Communication, Reconnaissance, Weather Forecasting, Remote Sensing
Technological advancement is a key trend gaining popularity in the commercial satellite launch service market. Major companies operating in the commercial satellite launch service market are focused on developing innovative products with advanced technologies to strengthen their position in the market. For instance, in October 2021, SpinLaunch, a US-based spaceflight technology development company, introduced a sub-orbital accelerator, an alternative method of launching spacecraft into orbit. This launching system relies on kinetic energy to get the rocket off the ground, with a vacuum-sealed centrifuge spinning it at multiple times the speed of sound before releasing it with minimum power consumption.
The commercial satellite launch service market report table of contents includes:
- Executive Summary
- Commercial Satellite Launch Service Market Characteristics
- Commercial Satellite Launch Service Market Trends And Strategies
- Commercial Satellite Launch Service Market – Macro Economic Scenario
- Global Commercial Satellite Launch Service Market Size and Growth
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- Global Commercial Satellite Launch Service Market Competitive Benchmarking
- Global Commercial Satellite Launch Service Market Competitive Dashboard
- Key Mergers And Acquisitions In The Commercial Satellite Launch Service Market
- Commercial Satellite Launch Service Market Future Outlook and Potential Analysis
- Appendix
Top Major Players:
- The Boeing Company
- Mitsubishi Heavy Industries Ltd
- Northrop Grumman Space Systems Group
- Orbital ATK
- Antrix Corporation Limited
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