Satellite Launch Vehicle (SLV) Industry 2018 Leading Players are Virgin Galactic, SpaceX, Northrop Grumman, Lockheed Martin, Boeing

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. Satellite Launch Vehicle Market size is estimated to exceed USD 2.4 billion by 2024; according to a new research report by Global Market Insights, Inc.

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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.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. ARCA Space
2. Blue Origin
3. Boeing Space and Communications
4. Bristol Spaceplanes
5. E Prime Aerospace
6. Eurockot Launch Services
7. Indian Space Research Organization
8. Kelly Space & Technology
9. Lockheed Martin
10. Mitsubishi Heavy Industries
11. Northrop Grumman Corporation
12. Scaled Composites LLC
13. SpaceX
14. Virgin Galactic

Satellite Launch Vehicle Market, By Application

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

Increasing number of payloads to accommodate large number of satellites in singular missions to reduce the overall cost is expected to drive the 6 to 10 number of payloads segment through the forecast period. However, owing to significant number of mission critical applications, and probability of large capital losses in the event of mission failure, primary payload segment is expected to retain its dominance through the forecast period.

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Growing high speed internet connectivity demands in conjunction with the requirement to gain tactical intelligence over the neighboring nations can be achieved through space missions. This in turn has led to increased frequency of launches every year for applications in defense, scientific research, and communication, which in turn will fuel the global satellite launch vehicles market. For instance, in 2017, over 50 missions were successfully deployed for mission critical applications specifically focused on scientific research, earth observation, and communication applications across the globe.

Increased launch frequency owing to substantial number of follow on missions to provide efficient communication will present strong growth prospects over the next 6 years. Communication application segment is expected to account for over 40% of the global satellite launch vehicle market revenue share by 2024.

In terms of the number of orbital satellite missions every year, Asia Pacific dominated the satellite launch vehicle market share in 2017. However, the U.S. satellite launch vehicle market segment is expected to dominate the overall industry share by 2024, owing to the increasing participation of private companies and high number of follow-on missions scheduled in the region.

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Some of the major satellite launch vehicle market participants include ARCA Space, Blue Origin, Boeing Space and Communications, Bristol Spaceplanes, E Prime Aerospace, Eurockot, Indian Space Research Organisation (ISRO), Kelly Space & Technology, Lockheed Martin, Mitsubishi Heavy Industries, Northrop Grumman Corporation, Scaled Composites LLC, SpaceX, and Virgin Galactic.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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