Satellite Launch Vehicle (SLV) Market - By Orbit (GEO, MEO, LEO, SSO), By Payload (Below 500 KG, Between 501 To 2,500 KG, above 2,500 KG), By Launch Activity (Commercial, Non-Commercial), By Application, By Launch & Forecast, 2022 – 2032

Satellite Launch Vehicle (SLV) Market Size

Satellite Launch Vehicle Market size was valued at USD 14.4 billion in 2022 and is anticipated to grow at a CAGR of over 12.5% between 2023 and 2032.

There is a high satellite deployment demand for various purposes such as communication, navigation, Earth observation, scientific research, and national security. Satellites play a crucial role in global communication networks, providing reliable voice, data, and internet services. As the world is becoming more connected, the demand for seamless communication across remote & underserved areas is also growing. Satellite constellations, such as Starlink and OneWeb, are working to provide high-speed internet access to the most remote regions. Governments and defense agencies use satellites for reconnaissance, surveillance, intelligence gathering, and secure communication. These satellites monitor threats, support military operations, and enhance national security.

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A Satellite Launch Vehicle (SLV) is a specialized rocket designed to carry & launch payloads, such as satellites, into various orbits in space. This vehicle is essential for sending satellites and other payloads into space, allowing them to achieve their intended orbits and perform their designated missions.
 

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With a long development cycle, manufacturers may miss opportunities to leverage emerging trends, demands, or niche markets. Rapidly evolving satellite technology and changing customer needs may render a vehicle obsolete before it is put into use. Delayed launches due to long development cycles can lead to dissatisfaction among customers, who are eager to launch their payloads. They may seek alternatives from competitors, who can provide faster access to space, hindering market growth.
COVID-19 Impact

The COVID-19 pandemic had significant impacts on various industries including the Satellite Launch Vehicle (SLV) market. Lockdowns, restrictions, and closures of manufacturing facilities around the world disrupted supply chains, leading to production delays of components & materials needed for SLVs, in turn, delaying the construction & testing of new launch vehicles. Social distancing measures and remote work arrangements affected the workforce availability in the aerospace industry. The need to adhere to safety protocols slowed down production processes and introduced challenges in coordinating complex projects.

Satellite Launch Vehicle (SLV) Market Trends

Satellite launch vehicle market has witnessed a transformative shift with the rise of commercial launch service providers, bringing about affordability and flexibility. Emerging companies, such as SpaceX, Blue Origin, and Rocket Lab, have challenged the traditional aerospace landscape by offering innovative launch solutions. SpaceX's reusable Falcon 9 offers optimized cost structures and launch frequency, allowing for previously unattainable commercial & scientific missions. Blue Origin's New Shepard suborbital vehicle is opening doors to space tourism, while Rocket Lab's Electron rocket caters to the growing demand for launching smaller payloads with flexibility. This commercialization has expanded launch options, lowered barriers to entry, and intensified the competition, reshaping the SLV market dynamics.

Satellite Launch Vehicle Market Analysis

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Based on launch, the satellite launch vehicle market is segmented into single use/expendable and reusable. The reusable segment held a market share of over 40% in 2022 and is expected to grow at a lucrative pace through 2032. Reusable launch vehicles can facilitate the entry of emerging spacefaring countries into the satellite launch market. These nations can benefit from reduced launch costs, allowing them to establish space programs and launch their own satellites for communication, Earth observation, and scientific research. The development of reusable launch vehicles has driven innovations in propulsion systems, materials science, reentry technology, and landing mechanisms. These innovations can have broader implications for space travel, in launch vehicles as well as in areas such as space exploration, lunar missions, and beyond.

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Based on orbit, the satellite launch vehicle market is segmented into GEO, MEO, SSO, and LEO. The Geostationary Earth Orbit (GEO) segment registered a CAGR of over 10% in 2022 and is expected to grow at a lucrative pace up to 2032. The GEO segment plays a crucial role due to the demand for communication, broadcasting, and weather satellites that require placement in the geostationary orbit. Geostationary satellites are commonly used for communication & broadcasting purposes due to their fixed position relative to Earth. The demand for satellite-based communication including internet services, TV broadcasting, and voice communication is growing worldwide. As more countries & regions seek reliable connectivity, the demand for launching satellites into GEO is expected to increase. Technological innovations in launch vehicles, such as reusable rockets, have significantly reduced the cost of space missions. Reusability allows launch providers to lower costs by recovering and reusing major rocket components. This cost reduction makes GEO launches more affordable & attractive to satellite operators.

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Satellite launch vehicle market in North America has experienced significant growth over the past years, driven by a combination of technological advancements, market demand, and strategic initiatives and held a market share of over 35% in 2022. The demand for satellite constellations in communication, Earth observation, and global connectivity has surged. Companies including SpaceX (Starlink) and OneWeb are deploying large satellite constellations to provide broadband internet access globally. This trend has led to a higher number of satellite launches, propelling market growth. Government agencies, such as NASA and the U.S. Department of Defense, play a crucial role in the North American space industry. Government contracts for satellite launches, scientific missions, and national security initiatives contribute to the launch vehicle market growth. North American launch providers serve international customers by launching satellites for other countries. This global reach expands market opportunities and supports the expansion of the region's launch vehicle industry

Satellite Launch Vehicle Market Share

Satellite launch vehicle market is highly competitive owing to the presence of key players such

•  ABL Space Systems
• ARCA Space
• Arianespace SA
• Blue Origin
• EPrime Aerospace
• Eurockot Launch Services
• Firefly Aerospace
• Gilmour Space Technologies
• Mitsubishi Heavy Industries
• Northrop Grumman Corporation Relativity Space
• Rocket Lab
• Skyrora Limited
• SpaceX
• United Launch Alliance LLC

Industry participants are expected to expand their foothold in the commercial industry with growing investments in facility centers & acquisitions. Significant R&D investments to gain technological competitiveness and aggressive business strategies including technological launches, collaborations & long-term agreements with clients to capture the market share are positively impacting the market.

Satellite Launch Vehicle (SLV) Industry News

• In April 2022, Blue Origin and Amazon announced a new partnership to launch Amazon's Kuiper constellation of broadband satellites. Under the agreement, Blue Origin will launch up to 83 Kuiper satellites on New Glenn rockets in 2023 and 2024.
• In January 2022, ArianeGroup unveiled its new Rocket family with a reusable mini rocket. The company is developing the concept of a new European launcher family with a reusable first stage and a new mini launcher, Maia.

The Satellite Launch Vehicle (SLV) market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million and units) from 2018 to 2032, for the following segments

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By Orbit

• GEO
• MEO
• LEO
• SSO

By Payload

• Far-infrared (FIR)
• Below 500kg
• Between 501kg to 2,500kg
• Above 2,500kg

By Launch Activity

• Commercial
• Non-commercial

By Application

• Communication
• Earth observation & science
• Technology development & demonstration
• Navigation
• Space science & observation

By Launch

• Single use/Expendable
• Reusable