ID: MRFR/A&D/7287-CR | February 2020 | Region: Global | 136 pages
Global Satellite Launch Vehicle Market is growing at a steady rate owing to the increasing defense expenditure and frequent launches of military satellites. The global satellite launch vehicle market is projected to account for USD 2,438.1 Million by 2025, registering a CAGR of 2.77% during the forecast period. Europe dominated the global market in 2018, followed by North America.
Global Satellite Launch Vehicle Market Growth, 2018–2025
Source: MRFR Analysis
Satellites are launched in space with the help of launch vehicles. The global satellite launch vehicle market is expected to witness a significant growth attributed to the initiatives undertaken by several countries across the globe to enhance and expand the communication network. The increasing investments by the prominent companies in the region, such as Airbus SAS in the development of satellite launch vehicles are expected to propel the regional market growth.
Global Satellite Launch Vehicle Market Share, by Region, 2018 (%)
Source: MRFR Analysis
The increasing investments by venture capital firms rising military expenditure are the primary factors driving the satellite launch vehicle market. Europe dominated the global satellite launch vehicle market with a share of around 36.19% in 2018.
The Global Satellite Launch Vehicle Market has been segmented based on orbit, number of Payloads, Launch Activity, Application, and Region. Based on orbit, the market has been classified as Sun-Synchronous Orbit (SSO), Medium Earth Orbit (MEO), Low Earth Orbit (LEO), and Geosynchronous Orbit (GEO). The number of payloads segment of the market has been divided into primary only, 2 to 5, and 6 to 10. In terms of launch activity, the market has been segregated into non-commercial and commercial. Based on application, the market has been segmented into research & development, navigation, communication, scientific, meteorology, earth observation, and remote sensing.
The market in Europe was valued at USD 728.9 million in 2018.
By region, the global satellite launch vehicle market has been segregated into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. Europe accounted for the largest share of the satellite launch vehicle market. The satellite launch vehicle market in Europe is expected to register a CAGR of 2.15% during the forecast period. The growth of the market in Europe is driven by factors such as the growing adoption of advanced technologies and increasing investments by the government of countries such as Germany in the manufacturing of satellite are factors expected to drive the demand for satellite launch vehicles. Furthermore, increasing investment by the UK Space Agency in satellite launch vehicle companies is expected to drive the market growth in the UK. In France, the growing aerospace and defense industry is boosting the market growth.
The Geosynchronous Orbit (GEO) segment is expected to dominate the market.
A geosynchronous orbit is an orbit around the Earth, in which a satellite matches Earth's rotation on its axis in the orbital period. A geosynchronous satellite returns to the same position in the sky after each sidereal day. Hence, the GEO segment is expected to register a CAGR of 1.46% during the forecast period.
The Key Players in the Global Satellite Launch Vehicle Market are Boeing (US), Arca Space Corporation (US), Lockheed Martin Corporation (US), Blue Origin (US), Northrop Grumman Corporation (US), Indian Space Research Organization (India), Mitsubishi Heavy Industries, Ltd (Japan), Space Exploration Technologies Corporation (US), Virgin Orbit (US), Eurockot Launch Services GmbH (Germany), Bristol Airspace (UK), E-Prime Aerospace (US), Kelly Space & Technology, Inc. (US), and Scaled Composites LLC (US).
The market values and forecast are derived using the Market Research Future (MRFR) research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
MRFR offers report customization to valued customers. Below are the options available for customization:
In-depth profiling of additional market players (3 to 4 companies)
Detailed analysis of a country-level market and related segments as per the report scope (subject to data availability)
Key Questions Addressed by the Report
Frequently Asked Questions (FAQ) :
satellite launch vehicle market’s revenue will be USD 2,438.1 Million generated by 2025
At a CAGR of 2.77%, the satellite launch vehicle market will expand in the future.
The global satellite launch vehicle market might witness rapid growth due to the initiatives undertaken by several countries to enhance and expand the communication network.
Europe has the largest share of the satellite launch vehicle market.
Northrop Grumman Corporation, Indian Space Research Organization, and Mitsubishi Heavy Industries, Ltd are the top investors in the market heading growth.