As per MRFR Analysis, the Global Satellite Launch Vehicle Market was valued at USD 17.2 billion in 2022 and is projected to reach USD 40.766 billion by 2030, growing at a CAGR of 13.12% from 2023 to 2030. Key drivers include increased defense expenditure and the demand for enhanced satellite communication capabilities. The market is characterized by significant growth in the low Earth orbit segment, driven by the need for earth observation data and advancements in satellite technology. The communication segment leads in application, fueled by large constellations of small satellites for broadband internet access. North America is expected to dominate the market, followed by Europe and Asia-Pacific, with China and India showing rapid growth.
The Satellite Launch Vehicle market is witnessing transformative trends driven by technological advancements and increased demand.
Key players include Space Exploration Technologies Corporation, Northrop Grumman Corporation, Lockheed Martin Corporation, Boeing, and Indian Space Research Organization.
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Defence and government segment has the highest Market CAGR. Armed forces worldwide have been strengthening their satellite networks to perform more efficient intelligence, surveillance, and reconnaissance (ISR) missions that essentially need secure and robust communication channels accessible from anywhere by the forces. The armed forces demand more data bandwidth and reliable communication infrastructure to meet the growing requirements for large-scale data transfer. The development of tactical communication systems, tactical data links, modern network-centric battle force capabilities, and advanced SATCOMs are significant applications of military communication satellites. Improved use of SATCOM may simplify the integration of C4ISR, thus enabling the better use of UAVs and more advanced administrative, support, and personal welfare services. In this regard, several countries emphasize launching communications satellites for better data transfer capabilities. For instance, in November 2021, three CERES satellites were launched onboard the Vega rocket. The military signals intelligence satellite was developed for the French armed forces with Airbus as the prime contractor and Thales in charge of the payload, user ground segment, and satellite platform. The satellite was developed for Signals Intelligence (SIGINT) applications.
The launches of satellites, especially smaller ones, are being done on a large scale by universities, colleges, and even high school students. With governments and various foundations currently funding research in civil satellites, the constant growth of this segment is expected during the forecast period. As part of NASA’s CubeSat Launch Initiative, which provides opportunities for small satellite payloads built by universities, high schools, and non-profit organizations to fly on upcoming launches, NASA provides these CubeSat developers a low-cost pathway to conduct scientific investigations and technology demonstrations in space. This enables students, teachers, and faculty to obtain hands-on flight hardware development experience. Such developments are expected to drive the Satellite Launch Vehicle market revenue.
Additionally, the small satellite launches market issues are looked at by organizations in the market development. The absence of a talented labor force and protection from flexibility toward new advancements is another element that hampers market development.
The Satellite Launch Vehicle market segmentation, based on type includes sun-synchronous Orbit, medium earth orbit, low Earth orbit, geosynchronous Orbit, number of payloads, and launch activity. The low earth orbit segment dominated the market; the demand for earth observation (EO) data is increasing for various applications, including scientific research, environment, and metrology. Satellites, including CubeSats, can now transfer terabytes of data and photographs of the earth in real time, enabling a wide range of artificial intelligence (AI)-driven applications that reveal previously unavailable insights on world-scale economic, social, and industrial activities. The demand for satellite data is driven by security in military operations and money transfer applications.
Figure 1: Satellite Launch Vehicle Market, By Orbit, 2022 & 2030 (USD billion)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Based on Application, the satellite launch vehicle market segmentation includes Research & Development, navigation, communication, scientific, meteorology, earth observation, and remote sensing. The communication segment dominated the market. This is due to deploying large constellations of small satellites for broadband internet access. Companies such as SpaceX, OneWeb, and Amazon's Project Kuiper plan to launch thousands of small satellites into Orbit to provide high-speed internet access to underserved areas. The earth observation segment is also expected to grow significantly, with the increasing use of satellite imagery for environmental monitoring, disaster response, and other applications. The demand for high-resolution and near-real-time satellite imagery drives the development of new remote sensing technologies and platforms and more frequent satellite launches.
Northrop Grumman Corporation delivered the ESPAStar-D spacecraft bus to L3Harris Technologies. The platform supports the Navigation Technology Satellite-3 (NTS-3) mission for the Air Force Research Laboratory, which is scheduled to be launched from Cape Canaveral in 2022.
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American satellite launch vehicle market will dominate, owing to an increase in Defence Expenditure and more bariatric procedures, which will boost the market growth in this Region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: SATELLITE LAUNCH VEHICLEMARKET SHARE BY REGION 2022 (%)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's satellite launch vehicle market accounts for the second-largest market share due to the new entrants in the space launch services market and increasing technological advancements in launch technologies. Further, the German satellite launch vehicle Industry held the largest market share, and the UK satellite launch vehicle industry was the fastest-growing market in the European Region.
The Asia-Pacific satellite launch vehicle market is expected to grow at the fastest CAGR from 2023 to 2030. This is because they rapidly increase their investments in developing space infrastructure to cater to the growing demand. Moreover, China’s satellite launch vehicle industry held the largest market share, and the Indian satellite launch vehicle market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Satellite Launch Vehicle market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The satellite launch vehicle industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the satellite launch vehicle industry to benefit clients and increase the market sector. In recent years, the satellite launch vehicle industry has offered some of the most significant advantages to defense. Major players in the satellite launch vehicle market, including Space Exploration Technologies Corporation (US), Eurockot Launch Services GmbH (Germany), Bristol Airspace (UK), Kelly Space & Technology Inc. (US), Virgin Orbit (US), E-Prime Aerospace (US), Scaled Composites LLC (US) and others, are attempting to increase market demand by investing in research and development operations.
Orbital Express Launch Ltd., or Orbex, is a United Kingdom-based aerospace company developing a small commercial orbital rocket called Prime. Orbex is headquartered in Forres, Moray, Scotland, and has subsidiaries in Denmark and Germany. The U.K.-based rocket firm Orbex unveiled a prototype of its environmentally friendly small-satellite launching rocket. The reusable Prime rocket is the first micro-launcher developed in Europe. The company announced that it is preparing for the rocket's debut flight in a few months.
Northrop Grumman Corporation is an American multinational aerospace and defense technology company. With 90,000 employees and annual revenue of over $30 billion, it is one of the world's largest weapons manufacturers and military technology providers. Northrop Grumman Corporation's expertise brings technology solutions to life in autonomous systems, cyber, C4ISR, strike, space, and logistics and modernization for our customers around the globe. Northrop Grumman Corporation delivered the ESPAStar-D spacecraft bus to L3Harris Technologies. The platform supports the Navigation Technology Satellite-3 (NTS-3) mission for the Air Force Research Laboratory, which is scheduled to be launched from Cape Canaveral in 2022.
For Instance, May 2022 The U.K.-based rocket firm Orbex unveiled a prototype of its environmentally friendly small-satellite launching rocket. The reusable Prime rocket is the first micro-launcher developed in Europe. The company announced that it is preparing for the rocket's debut flight in a few months.
For Instance, September 2021 The Indian Space Research Organization (ISRO) announced that it is working on technologies that will enable it to land the GSLV Mk-III launch vehicles vertically, like SpaceX is doing, and recover the first and second stages. This will enable the space agency to reuse the GSLV Mk-III, thus helping it save money.
| Report Attribute/Metric | Details |
| Market Size2022 | USD 17.2 billion |
| Market Size 2023 | USD 19.45664 billion |
| Market Size 2030 | USD 40.76657465 billion |
| Compound Annual Growth Rate (CAGR) | 13.12% (2023-2030) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2030 |
| Historical Data | 2019- 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Orbit, By Application, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Northrop Grumman Corporation (US),Arca Space Corporation (US), Lockheed Martin Corporation (US), Boeing (US), Mitsubishi Heavy Industries Ltd (Japan), Blue Origin (US), Indian Space, Research, Organization (India), Space Exploration Technologies Corporation (US), Eurockot Launch Services GmbH (Germany), Bristol Airspace (UK), Kelly Space & Technology Inc. (US), Virgin, Orbit (US), E-Prime Aerospace (US), Scaled Composites LLC (US) |
| Key Market Opportunities | New product launches and R&D amongst major key players |
| Key Market Dynamics | The Increase in defense expenditure |
Satellite Launch Vehicle Market Highlights:
Frequently Asked Questions (FAQ) :
The satellite launch vehicle market size was valued at USD 17.2 Billion in 2022.
The market is projected to grow at a CAGR of 13.12% % during the forecast period, 2023-2030.
North America had the largest share of the market.
The key players in the market are Northrop Grumman Corporation (US), Arca Space Corporation (US), Lockheed Martin Corporation (US), Boeing (US), Mitsubishi Heavy Industries Ltd (Japan), Blue Origin (US), Indian Space, Research, Organization (India).
The low earth orbit satellite launch vehicle category dominated the market in 2022.
Communication had the largest share of the market.
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