Press release
NA Commercial Satellite Launch Service Market is expected to witness exponential growth during the next few years – Key players : Lockheed Martin, United Launch Alliance, NASA, Boeing, Orbital ATK, SpaceX, Airbus
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North America was worth more than USD 2 billion in 2017 and is anticipated to dominate the commercial satellite launch service market share. This can be credited to robust infrastructure available in the region for developing new space programs by organizations such as NASA and SpaceX. Increasing number of navigation and communication satellites for locating destinations and data usage is significantly contributing towards regional growth of the commercial satellite launch service market.
LEO is likely to exhibit over 3% CAGR in the commercial satellite launch service market from 2018 to 2024. This growth can be credited to low initial launch cost as compared to other orbits, less time to deploy and compact size commercial satellite. LEOs are a positive step towards providing connectivity to remote areas.
Top Company profiled:
1. Ariane Group
2. GK Launch Services
3. Lockheed Martin
4. United Launch Alliance
5. Commercial Space Technologies Ltd.
6. ISRO
7. NASA
8. Antrix Corporation Limited
9. COSMOS International
10. Sea Launch
11. Boeing
12. Orbital Sciences Corporation
13. SpaceX
14. Eurockot Launch Services
15. Mitsubishi Heavy Industries Launch Services
Commercial Satellite Launch Service Market by Orbit
• LEO
• MEO
• GEO
• HEO
Commercial Satellite Launch Service Market by Size
• Large
• Medium
• Small
• Micro
Commercial Satellite Launch Service Market by Application
• Navigational
• Communication
• Reconnaissance
• Weather Forecasting
• Remote Sensing
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The micro segment of the commercial satellite launch service market share is expected to pose a CAGR of more than 6% over the forecast period. This growth can be attributed to the continuous developments improving reliability and affordability of the launch vehicles.
Reconnaissance commercial satellite launch service market size is expected to hold around 36% of the revenue share by 2024. Introduction of new farming techniques such as precision farming, utilizing the satellite imagery for improving farming will play a key role for the industry growth. Geographical Information System (GIS) tools and online web resources with the help of UAVs for farmers are spurring the segment growth.
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Airbus S.A.S., Arianespace S.A., Axelspace Corporation, Boeing, Lockheed Martin Corporation, Orbital ATK, Space Exploration Technologies are few industry participants in commercial satellite launch service market. Joint ventures and partnerships are among the prominent strategies implemented by the competitors to enhance their industry share. For instance, in 2018, United Launch Alliance acquired Atlas 5 division of Lockheed Martin for reducing launch prices and improving business efficiencies.
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Corporate Sales, USA
Global Market Insights, Inc.
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