Satellite Launch Vehicle Market Set for Massive Growth with Companies are Lockheed Martin, Mitsubishi Heavy Industries, Northrop Grumman, ARCA Space, Blue Origin, Boeing Space and Communications, E Prime Aerospace, Kelly Space & Technology, SpaceX, Virgin

Satellite launch vehicle market for Commercial segment is expected to witness highest growth over the forecast timeframe. Navigation, earth observation data for oil & mineral exploration, biomass measurement, providing access to critical information small economies, and communication will provide strong growth prospects through the forecast timeframe. High competition between Russia and European Union to uphold dominance in the commercial segment will drive the segment growth.

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Based on orbits, GEO satellite launch vehicle segment is expected to retain its industrial dominance through the forecast period. It can be attributed to the substantial application in communication and earth observation among its primary payload applications.

Satellite Launch Vehicle Market, By Orbit

• Geosynchronous Orbit (GEO)
• Medium Earth Orbit (MEO)
• Low Earth Orbit (LEO)
• Sun-Synchronous Orbit (SSO)

Satellite Launch Vehicle Market, By Number Of Payloads

• Primary Only
• 2 to 5
• 6 to 10

Satellite Launch Vehicle Market, By Launch Activity

• Commercial
• Non-commercial

Satellite Launch Vehicle Market, By Application

• Navigation
• Scientific
• Earth Observation
• R&D
• Communication
• Meteorology
• Remote Sensing

Regulatory norms restricting the knowledge and resources sharing of technologies related to the launch owing to mission critical applications are expected to hinder the technological developments in the industry space. Moreover, high initial cost of the launch and associated environmental problems and limitations are expected to be among the major factors expected to hamper the satellite launch vehicle market growth through the forecast period.

Primary payload held the major share accounting for over 61% of the overall market in 2017. Increasing satellite launches for specific missions in scientific research, observation and tactical intelligence will fuel segment growth. Moreover, the development of new launch sites and initiatives by the emerging nations to expand their space programs will positively influence the business growth.

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Non-commercial sector led the market share owing to its extensive usage in military, scientific and government operations. The rising utilization of remote sensing applications for navigation, communication and intelligence gathering by scientific and military organizations are the key factors driving the segment growth.

Communications were the largest application for satellite launching vehicles contributing over 40% volume share in 2017. Increasing focus by the communication sector to improve data bandwidth and high-speed connectivity are the major factors driving the business growth. Furthermore, the rising utilization of IoT, smart devices, and wireless technology will necessitate the launch of satellites for communication-based applications.

Asia Pacific accounted for over 37% of the market share in 2017. Increasing focus on establishing indigenous space research programs and integration of modern communicative technologies in critical fields such as military, science and government services will drive the regional growth.

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Operator states are highly focused on the protectionism of local producers, specifically in the Europe and the U.S. Moreover, China and the U.S. that hold substantial positioning in the global industry have limited participation in the commercial sector, is expected to present considerable challenge to the satellite launch vehicle market share. However, these nations are expected to increase the number of the commercial launches over the coming years, to strengthen their presence in the commercial launches sector.

Key Companies in the Satellite Launch Vehicle (SLV) Market include ARCA Space, Blue Origin, Boeing Space and Communications, Bristol Spaceplanes, E Prime Aerospace, Eurockot Launch Services, Indian Space Research Organization, Kelly Space & Technology, Lockheed Martin, Mitsubishi Heavy Industries, Northrop Grumman Corporation, Scaled Composites LLC, SpaceX, Virgin Galactic.

Browse Related Reports:

Commercial Satellite Launch Service Market Size By Orbit (LEO, MEO, GEO, HEO), By Size (Large, Medium, Small, Micro), By Application (Navigational, Communication, Reconnaissance, Weather Forecasting, Remote Sensing), Competitive Market Share & Forecast, 2018 – 2024

Commercial Satellite Launch Service Market size was valued at over USD 5 billion in 2017 and is estimated to exhibit over 2.5% CAGR from 2018 to 2024.
Key players in the market include Antrix Corporation Limited, China Aerospace Science and Technology Corporation (CASC), Arianespace SA, International Launch Services (ILS), Eurockot Launch Services, International Space Company Kosmotras, Orbital ATK Inc, Mitsubishi Heavy Industries, Ltd., Rocket Lab, Sea Launch, Starsem, Space Exploration Technologies Corp. and United Launch Alliance (ULA).

https://www.gminsights.com/industry-analysis/commercial-satellite-launch-service-market

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