Press release
What's Driving the Satellite Launch Vehicle Market Trends? | Key Companies are Boeing, Lockheed Martin, SpaceX, Blue Origin, Northrop Grumman
Satellite Launch Vehicle Market
State-owned developer and manufacturer of launch vehicles, China Aerospace Science and Technological Corporation (CASC) in 2017 had announced that it was ready to provide faster and economical low earth orbit launches.
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Increasing demand for internet connectivity with regards to the need to gain a strategical edge and gather intelligence about other countries can be achieved via space missions. This has led to a surge in the frequencies of launch per year for scientific research, communication and defense purposes, which will significantly drive global satellite launch vehicle market forecast in the coming years.
Company profiled in satellite launch vehicle market report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
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
The primary payload segment owned a remarkable share of more than 61% of the total satellite launch vehicle market size in 2017. Rise in the satellite launches for certain missions in observation, tactical intelligence, and scientific research will enhance the segmental growth. Additionally, new launch sites, along with development initiatives taken by the emerging nations for the expansion of space programs will be fueling SLV industry trends.
Rising number of payloads for the accommodation of several satellites in singular missions for the reduction of the overall cost is anticipated to foster the 6 to 10 number of payloads segment over the forthcoming years.
GEO orbit satellite launch market share was valued at more than USD 1.3 billion in the year 2017. The GEO orbit satellites, when once launched, follow a specified path at a predefined distance from the earth and require no reorientation. They are mainly used in collecting environmental data, for intensive observation, and homeland security.
GEO satellites also offer reliable transmission, entail low maintenance, and provide cost-effective communication as compared to other alternatives, which will increase their deployment and influence the business outlook.
Commercial satellite launch vehicle market is anticipated to experience tremendous growth over the projected period. Biomass measurement, earth observation data for both oil & mineral, provision of access to important information to small economies, communication and navigation will be providing significant prospects for SLV industry growth. Major competition between European Union and Russia to expand into the commercial segment will impact the market dynamics.
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Non-commercial segment has been leading the market sharing due to its extensive usages in government, scientific and military operations. There has been an increasing utilization of applications in remote sensing for communication, navigation as well as intelligence gathering by military and scientific organizations, which are key factors driving satellite launch vehicle market trends.
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