Press release
What's Driving The Satellite Launch Vehicle Market Trends? ARCA Space, Blue Origin, Boeing Space and Communications, Bristol Spaceplanes, E Prime Aerospace, Eurockot Launch Services, Kelly Space & Technology, Lockheed Martin
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.
Prominent players in the satellite launch vehicle market include Boeing Space & Communication, E Prime Aerospace, Lockheed Martin, SpaceX, Virgin Galactic, ISRO, Mitsubishi Heavy Industries, ARCA Space, Kelly Space & Technology and Blue Origin. Joint ventures, partnerships and long-term agreements with Government and private organizations for launch and testing are the key strategies adopted by these players to strengthen their market presence.
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GEO orbit dominated the market revenue accounting for over USD 1.3 billion in 2017. It does not require reorientation after the launch and follow a specified path and distance from earth. These are extensively used in homeland security, environmental data and intensive observation data analysis. It offers low-cost communication, reliable transmission and low maintenance as compared to other satellites.
Satellite Launch Vehicle Market Research Report for the period of 2018-2024 that shows the growth of the market is rising at a 2.7% CAGR to 2024.
Increasing frequency of satellite launches for scientific, R&D, navigation and communication applications will drive the industry share. The technological revolution in satellite design, and launch will reduce the overall costs, thereby fueling the satellite launch vehicle market from 2018 to 2024. For instance, in 2017, China Aerospace Science and Technological Corporation (CASC), a state-owned manufacturer and developer of launch vehicles, announced its readiness to provide economical and faster low earth orbit launches.
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.
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.
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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.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. SLV Industry Insights
Chapter 4. SLV Market, By Orbit
Chapter 5. SLV Market, By Number of Payloads
Chapter 6. SLV Market, By Launch Activity
Chapter 7. SLV Market, By Application
Chapter 8. SLV Market, By Region
Chapter 9. Company Profiles
Related Report:
Commercial Satellite Launch Service Market Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 - 2024
Proliferating use of GPS and communication-based facilities will require additional launches thereby boosting commercial satellite launch service Market from 2018 to 2024.
https://www.marketstudyreport.com/reports/commercial-satellite-launch-service-market/?utm_source=RR-PSR
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