Satellite Launch Vehicle Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
A satellite launch vehicle is a rocket-powered vehicle that is used to transport and launch satellites or other payloads into space. These are used to deliver satellites in various types of orbits or to nearby planets, by creating a favorable environment.

Sizing and Forecast
The satellite launch vehicle market size has grown rapidly in recent years. It will grow from $15.85 billion in 2023 to $18.18 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. The growth in the historic period can be attributed to government space programs, commercial satellite deployments, global geopolitical landscape, international collaborations, technological readiness..

The satellite launch vehicle market size is expected to see rapid growth in the next few years. It will grow to $29.86 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The growth in the forecast period can be attributed to rising demand for small satellites, commercial space exploration, private sector involvement, evolving regulatory environment, emerging space agencies.. Major trends in the forecast period include adoption of lighter materials and advanced manufacturing, focus on responsive and rapid launch capabilities, development of heavy-lift launch vehicles, international collaboration and partnerships, integration of artificial intelligence in launch operations..

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Segmentation & Regional Insights
The satellite launch vehicle market covered in this report is segmented –

1) By Launch: Single Use Or Expendable, Reusable
2) By Subsystem: Structure, Guidance, Navigation And Control Systems, Propulsion Systems, Telemetry, Tracking And Command Systems, Electrical Power Systems, Separation Systems
3) By Payload: <500 Kg, 500-2,500 Kg, >2,500 Kg
4) By Orbit: Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Orbit (GEO)
5) By Application: Civil Satellite Launch, Military Satellite Launch

Asia-Pacific was the largest region in the satellite launch vehicle market in 2023 and is expected to be the fastest-growing region in the global satellite launch vehicle market during the forecast period. The regions covered in the satellite launch vehicle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The surge in satellite launches is expected to propel the growth of the satellite launch vehicle market going forward. Satellite launches refer to the process of sending satellites into space using satellite launch vehicles. Satellite launch vehicles, also known as rockets or space launch vehicles, are specifically designed to carry satellites and other payloads into space, and these vehicles provide the necessary propulsion, guidance, and control systems to transport the satellite from the Earth’s surface to its desired orbit or trajectory. For instance, in January 2023, according to data published by the United Nations Office for Outer Space Affairs (UNOOSA), a part of the United Nations promoting space-related activities and coordinating space-related policies and programs, the cumulative number of objects, including satellites, probes, landers, crewed spacecraft, and space station flight elements, launched into outer space accounted for 14,281 in 2022, an increase of 18% from 12,118 in 2021 globally. Therefore, the surge in satellite launches drives the satellite launch vehicle market.

Key Industry Players
Major companies operating in the satellite launch vehicle market report are Mitsubishi Heavy Industries Ltd., Northrop Grumman Corporation, Virgin Galactic Holdings Inc., The Boeing Company, Space Exploration Technologies Corp., Airbus SE, Bellatrix Aerospace Private Limited, Bigelow Aerospace LLC, Masten Space Systems Inc., Armadillo Aerospace LLC, Lockheed Martin Corporation, Innovative Solutions In Space B.V., Indian Space Research Organisation, Blue Origin LLC, Arianespace SA, China Aerospace Science and Technology Corporation (CASC), Maxar Technologies Inc., ArianeGroup, Sierra Nevada Corporation, Thales, United Launch Alliance LLC, ROSCOSMOS, Antrix Corporation, Astra Space Inc., CAS Space, Eurockot Launch Services, Firefly Aerospace Inc., International Launch Services (ILS), LinkSpace, HyImpulse Technologies Corporation, OneSpace, PLD Space, Stratolaunch Systems LLC, Virgin Orbit LLC

The satellite launch vehicle market report table of contents includes:

1. Executive Summary
2. Satellite Launch Vehicle Market Characteristics
3. Satellite Launch Vehicle Market Trends And Strategies
4. Satellite Launch Vehicle Market – Macro Economic Scenario
5. Global Satellite Launch Vehicle Market Size and Growth
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31. Global Satellite Launch Vehicle Market Competitive Benchmarking
32. Global Satellite Launch Vehicle Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Satellite Launch Vehicle Market
34. Satellite Launch Vehicle Market Future Outlook and Potential Analysis
35. Appendix

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