Abstract
Summary
The satellite launch vehicle market size is projected to grow from USD 15.7 billion in 2022 to USD 29.1 billion by 2027, at a CAGR of 13.1% during the forecast period. The market for satellite launch vehicle is driven by various factors, such as increasing demand for more effective, cost efficient launch services . However, Reliability and safety of launch vehicles, increasing Carbon footprint due to space launches are limiting the overall growth of the market.
” Three Stage: The largest share of the satellite launch vehicle market by stage in 2022.” The three stage segment has the largest segment of the satellite launch vehicle market by stage in 2022. The increasing demand for heavy lift satellite launch vehicle to transport heavy payload cargo quickly with less carbon emissions is driving the growth of this segment in the satellite launch vehicle market.
” 500 – 2,500 Kg: The second largest segment of the satellite launch vehicle market by payload in 2022“
Satellite payloads that weigh less than 500 kg are generally classified as medium satellites. Medium satellites have a wet mass (including fuel) between 500 kg and 2,500 kg. The operational and manufacturing costs of medium satellites are higher than those of small satellites. These satellites are used for applications, such as climate & environment monitoring, Earth observation & meteorology, scientific research & exploration, and surveillance & security. The increased use of medium satellites in these applications is expected to drive the satellite launch vehicle market.
“Asia Pacific to account for the largest share in the satellite launch vehicle market in forecasted year”
Asia Pacific is estimated to account for the largest share in the satellite launch vehicle in the forecasted year. India The Indian launch vehicle market is an emerging industry that is rapidly growing due to the increasing demand for satellite launches for both commercial and government applications. The Indian Space Research Organisation (ISRO) is the primary player in the market, with its Polar Satellite Launch Vehicle (PSLV) and Geosynchronous Satellite Launch Vehicle (GSLV) being the main launch vehicles used for space missions.
Break-up of profiles of primary participants in the satellite launch vehicle market: By Company Type: Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25% By Designation: C-Level Executives – 10%, Managers– 50%, and Academic Experts – 40% By Region: North America – 10%, Europe – 20%, Asia Pacific – 40%, Rest of the World – 30%
Prominent companies in the satellite launch vehicle market are SpaceX (US), United Launch Alliance, LLC (US), Northrop Grumman Corporation (US), and Blue Origin (US), Mitsubishi Heavy Industries (Japan), among others. Research Coverage: The market study covers the satellite launch vehicle market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as Vehicle, Payload, Orbit, Launch, Stage, Subsystem, Service and Region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies. Key benefits of buying this report: This report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall satellite launch vehicle market and its subsegments. The report covers the entire ecosystem of the satellite launch vehicle industry and will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Analysis of key drivers (Growing use of small satellite launch vehicles, The Rise of Space Tourism), restraints (Oversaturation of launch companies), opportunities (Advancements in satellite launch vehicles design, Increased outsourcing manufacturing in the launch vehicle industry), and challenges (Reliability and safety of launch vehicles, Carbon footprint due to space launches) influencing the growth of the satellite launch vehicle market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Satellite launch vehicle market
• Market Development: Comprehensive information about lucrative markets – the report analyses the Satellite launch vehicle market across varied regions
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Satellite launch vehicle market
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like SpaceX (US), United Launch Alliance, LLC (US), Northrop Grumman Corporation (US), and Blue Origin (US), Mitsubishi Heavy Industries (Japan), among others in the Satellite launch vehicle market
Table of Contents
1 INTRODUCTION 30
1.1 STUDY OBJECTIVES 30
1.2 MARKET DEFINITION 30
1.3 STUDY SCOPE 31
1.3.1 MARKETS COVERED 31
1.3.2 REGIONS COVERED 32
1.3.3 YEARS CONSIDERED 32
1.4 CURRENCY 33
1.5 LIMITATIONS 33
1.6 INCLUSIONS AND EXCLUSIONS 34
1.7 STAKEHOLDERS 35
2 RESEARCH METHODOLOGY 36
2.1 RESEARCH DATA 36
2.1.1 SECONDARY DATA 37
- 2.1.1.1 Key data from secondary sources 38
2.1.2 PRIMARY DATA 38
- 2.1.2.1 Key data from primary sources 38
- 2.1.2.2 Key data from primary sources 39
- 2.1.2.3 Breakdown of primaries 39
2.2 FACTOR ANALYSIS 40
2.2.1 INTRODUCTION 40
2.2.2 DEMAND-SIDE INDICATORS 40
2.2.3 SUPPLY-SIDE INDICATORS 40
2.2.4 RECESSION IMPACT ANALYSIS 40
2.3 RESEARCH APPROACH AND METHODOLOGY 41
2.3.1 BOTTOM-UP APPROACH 41
- 2.3.1.1 Market size estimation & methodology 41
- 2.3.1.2 Regional split of satellite launch vehicle market 42
2.3.2 TOP-DOWN APPROACH 42
2.4 DATA TRIANGULATION 43
2.5 RESEARCH ASSUMPTIONS 44
3 EXECUTIVE SUMMARY 45
4 PREMIUM INSIGHTS 48
4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN SATELLITE LAUNCH VEHICLE MARKET 48
4.2 SATELLITE LAUNCH VEHICLE MARKET, BY SUBSYSTEM 48
4.3 SATELLITE LAUNCH VEHICLE MARKET, BY ORBIT 49
4.4 SATELLITE LAUNCH VEHICLE MARKET, BY PAYLOAD 49
4.5 SATELLITE LAUNCH VEHICLE MARKET, BY COUNTRY 50
5 MARKET OVERVIEW 51
5.1 INTRODUCTION 51
5.2 MARKET DYNAMICS 51
5.2.1 DRIVERS 52
- 5.2.1.1 Rise in demand for small satellites across various applications 52
- 5.2.1.2 Increased space tourism 52
5.2.2 RESTRAINTS 53
- 5.2.2.1 Oversaturation in launch vehicle market 53
5.2.3 OPPORTUNITIES 53
- 5.2.3.1 Advancements in satellite launch vehicle designs 53
- 5.2.3.2 Increased outsourcing of manufacturing activities 54
5.2.4 CHALLENGES 55
- 5.2.4.1 Reliability and safety of launch vehicles 55
- 5.2.4.2 Increased carbon footprint due to space launches 56
5.3 VALUE CHAIN ANALYSIS 57
5.3.1 UPSTREAM PLAYERS 58
5.3.2 LAUNCH VEHICLE MANUFACTURERS 58
5.3.3 LAUNCH SERVICE PROVIDERS 58
5.3.4 DOWNSTREAM PLAYERS 58
5.3.5 GOVERNMENT AGENCIES 58
5.3.6 SATELLITE OPERATORS 58
5.4 SATELLITE LAUNCH VEHICLE MARKET ECOSYSTEM 58
5.5 DISRUPTIONS IMPACTING CUSTOMER BUSINESS 61
5.5.1 REVENUE SHIFT AND NEW REVENUE POCKETS IN SATELLITE LAUNCH VEHICLE MARKET 61
5.6 RECESSION IMPACT ANALYSIS OF SATELLITE LAUNCH VEHICLE MARKET 62
5.7 TECHNOLOGY ANALYSIS 62
5.7.1 SYNERGETIC AIR-BREATHING ROCKET ENGINE 62
5.8 PRICING ANALYSIS 63
5.8.1 AVERAGE SELLING PRICES 63
5.9 VOLUME DATA 65
5.10 PORTER’S FIVE FORCES ANALYSIS 66
5.10.1 THREAT OF NEW ENTRANTS 67
5.10.2 THREAT OF SUBSTITUTES 68
5.10.3 BARGAINING POWER OF SUPPLIERS 68
5.10.4 BARGAINING POWER OF BUYERS 68
5.10.5 INTENSITY OF COMPETITIVE RIVALRY 68
5.11 TRADE DATA ANALYSIS 69
5.12 TARIFF AND REGULATORY LANDSCAPE 70
5.12.1 NORTH AMERICA 71
5.12.2 EUROPE 71
5.12.3 ASIA PACIFIC 71
5.12.4 MIDDLE EAST 72
5.13 KEY CONFERENCES AND EVENTS IN 2023 73
5.14 KEY STAKEHOLDERS & BUYING CRITERIA 74
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS 74
5.14.2 BUYING CRITERIA 75
6 INDUSTRY TRENDS 76
6.1 INTRODUCTION 76
6.2 TECHNOLOGY TRENDS 76
6.2.1 AIR-LAUNCHED ROCKETS 76
6.2.2 ELECTRIC PROPULSION 76
6.2.3 3D PRINTING 77
6.2.4 AUTONOMOUS SYSTEMS 77
6.2.5 SEMI CRYOGENIC ENGINES 77
6.2.6 ORBITAL ACCELERATOR 78
6.3 USE CASES: SATELLITE LAUNCH VEHICLE MARKET 78
6.3.1 AUTONOMOUS SPACEPORT DRONE SHIP 78
6.3.2 SMALL SATELLITE LAUNCH VEHICLE 79
6.3.3 ELECTRIC PROPULSION 79
6.4 PATENT ANALYSIS 80
6.5 IMPACT OF MEGATRENDS 81
6.5.1 REUSABLE ROCKETS SIGNIFICANTLY REDUCE LAUNCH COSTS 81
6.5.2 INCREASED NUMBER OF SMALL SATELLITE LAUNCHES TO LEAD TO CREATION OF SATELLITE CONSTELLATIONS 81
6.5.3 SPACE TOURISM SUPPORTS GROWTH OF SPACE LAUNCH SERVICES 82
7 SATELLITE LAUNCH VEHICLE MARKET, BY LAUNCH 83
7.1 INTRODUCTION 84
7.2 SINGLE-USE/EXPENDABLE 85
7.2.1 EXTENSIVE USE TO LAUNCH LIGHTER PAYLOADS TO DRIVE SEGMENT 85
7.3 REUSABLE 85
7.3.1 INCREASED PREFERENCE DUE TO LOWER LAUNCH COSTS TO PROPEL SEGMENT 85
8 SATELLITE LAUNCH VEHICLE MARKET, BY ORBIT 86
8.1 INTRODUCTION 87
8.2 LOW EARTH ORBIT (LEO) 88
8.2.1 EXTENSIVE DEPLOYMENT OF COMMUNICATION SATELLITES TO PROPEL SEGMENT 88
8.3 MEDIUM EARTH ORBIT (MEO) 88
8.3.1 RISE IN NUMBER OF SATELLITE NAVIGATION SYSTEMS TO DRIVE SEGMENT 88
8.4 GEOSTATIONARY EARTH ORBIT (GEO) 89
8.4.1 RISE IN NUMBER OF WEATHER MONITORING SATELLITES TO DRIVE SEGMENT 89
9 SATELLITE LAUNCH VEHICLE MARKET, BY PAYLOAD 90
9.1 INTRODUCTION 91
9.2 <500 KG 92
9.2.1 RISE IN NUMBER OF SMALL SATELLITE CONSTELLATIONS TO FUEL SEGMENT 92
9.3 500 KG-2,500 KG 92
9.3.1 INCREASED APPLICATIONS IN CLIMATE & ENVIRONMENTAL MONITORING, EARTH OBSERVATION & METEOROLOGY TO DRIVE SEGMENT 92
9.4 >2,500 KG 93
9.4.1 RISE IN DEMAND FOR COMMUNICATION SUBSYSTEMS TO PROPEL SEGMENT 93
10 SATELLITE LAUNCH VEHICLE MARKET, BY STAGE 94
10.1 INTRODUCTION 95
10.2 SINGLE STAGE 96
10.2.1 SIMPLE AND LESS EXPENSIVE DESIGN TO DRIVE SEGMENT 96
10.3 TWO STAGE 96
10.3.1 ABILITY TO ACHIEVE HIGHER SPEEDS AND ALTITUDES TO BOOST SEGMENT 96
10.4 THREE STAGE 97
10.4.1 INCREASED USE IN DEEP SPACE MISSIONS TO PROPEL SEGMENT 97
11 SATELLITE LAUNCH VEHICLE MARKET, BY SUBSYSTEM 98
11.1 INTRODUCTION 99
11.2 STRUCTURE 100
11.2.1 USE OF ADVANCED MATERIALS TO SPUR SEGMENT GROWTH 100
11.3 GUIDANCE, NAVIGATION & CONTROL SYSTEMS (GN&C) 100
11.3.1 INCREASED USE OF AUTOMATED GUIDANCE, NAVIGATION, AND CONTROL (GN&C) SYSTEMS TO PROPEL SEGMENT 100
11.4 PROPULSION SYSTEMS 101
11.4.1 RISE IN DEMAND FOR ELECTRIC PROPULSION SYSTEMS TO DRIVE SEGMENT 101
11.5 TELEMETRY, TRACKING & COMMAND SYSTEMS 101
11.5.1 IMPROVED AND FULLY REDUNDANT TELEMETRY SYSTEMS TO BOOST SEGMENT 101
11.6 ELECTRICAL POWER SYSTEMS 102
11.6.1 INTRODUCTION OF EFFICIENT POWER GENERATION SYSTEMS TO DRIVE SEGMENT 102
11.7 SEPARATION SYSTEMS 103
11.7.1 USE OF PYROTECHNIC DEVICES AND ACTIVE SEPARATION SYSTEMS TO DRIVE SEGMENT 103
12 SATELLITE LAUNCH VEHICLE MARKET, BY VEHICLE 104
12.1 INTRODUCTION 105
12.2 SMALL (<350,000 KG) 106
12.2.1 RAPID DEPLOYMENT AND TARGETED PAYLOAD DELIVERY TO DRIVE SEGMENT 106
12.3 MEDIUM TO HEAVY (>350,000 KG) 106
12.3.1 INCREASED PAYLOAD CAPACITY AT REDUCED LAUNCH COSTS TO DRIVE SEGMENT 106
13 SATELLITE LAUNCH VEHICLE MARKET, BY SERVICE 108
13.1 ENGINEERING AND DESIGN SERVICES 108
13.2 TESTING AND CERTIFICATION SERVICES 109
13.3 MANUFACTURING AND ASSEMBLY SERVICES 109
13.4 LOGISTICS AND SUPPLY CHAIN MANAGEMENT SERVICES 110
14 SATELLITE LAUNCH VEHICLE MARKET, BY REGION 111
14.1 INTRODUCTION 112
14.2 REGIONAL RECESSION IMPACT ANALYSIS 113
14.3 NORTH AMERICA 115
14.3.1 PESTLE ANALYSIS: NORTH AMERICA 115
14.3.2 US 119
- 14.3.2.1 Presence of major companies manufacturing launch vehicles to boost market 119
14.3.3 CANADA 121
- 14.3.3.1 New regulations pertaining to satellite launches to drive market 121
14.4 ASIA PACIFIC 123
14.4.1 PESTLE ANALYSIS: ASIA PACIFIC 123
14.4.2 CHINA 127
- 14.4.2.1 Ambitious space programs to drive market 127
14.4.3 INDIA 129
- 14.4.3.1 Increased demand for satellite launches for both commercial and government applications to propel market 129
14.4.4 JAPAN 131
- 14.4.4.1 Well-planned space launch programs to drive market 131
14.4.5 SOUTH KOREA 133
- 14.4.5.1 Significant investments by government to boost market 133
14.4.6 NEW ZEALAND 135
- 14.4.6.1 Increased small satellite launches to drive market 135
14.4.7 AUSTRALIA 137
- 14.4.7.1 Efforts by government and private sectors to propel market 137
14.5 EUROPE 139
14.5.1 PESTLE ANALYSIS: EUROPE 140
14.5.2 RUSSIA 143
- 14.5.2.1 Dominance in space industry to drive market 143
14.5.3 FRANCE 145
- 14.5.3.1 Increased investments in space programs to propel market 145
14.5.4 GERMANY 147
- 14.5.4.1 Major contributions to European Space Agency’s R&D budget to propel market 147
14.5.5 UK 149
- 14.5.5.1 Space Innovation and Growth Strategy by government to drive market 149
14.5.6 ITALY 151
- 14.5.6.1 Rise in demand for communication and remote sensing small satellites to propel market 151
14.6 REST OF WORLD 153
14.6.1 PESTLE ANALYSIS: REST OF THE WORLD 153
14.6.2 MIDDLE EAST & AFRICA 156
14.6.3 LATIN AMERICA 158
15 COMPETITIVE LANDSCAPE 161
15.1 INTRODUCTION 161
15.2 COMPETITIVE OVERVIEW 161
15.2.1 KEY DEVELOPMENTS OF LEADING PLAYERS IN SATELLITE LAUNCH VEHICLE MARKET, 2018-2022 161
15.3 RANKING ANALYSIS OF KEY PLAYERS, 2021 162
15.4 REVENUE ANALYSIS OF KEY PLAYERS, 2021 163
15.5 MARKET SHARE ANALYSIS, 2021 164
15.6 COMPANY EVALUATION QUADRANT 165
15.6.1 STARS 165
15.6.2 EMERGING LEADERS 165
15.6.3 PERVASIVE PLAYERS 165
15.6.4 PARTICIPANTS 166
15.6.5 COMPETITIVE BENCHMARKING 167
15.7 STARTUPS/SMES EVALUATION QUADRANT 168
15.7.1 PROGRESSIVE COMPANIES 168
15.7.2 RESPONSIVE COMPANIES 168
15.7.3 STARTING BLOCKS 168
15.7.4 DYNAMIC COMPANIES 168
15.8 COMPETITIVE SCENARIO 171
15.8.1 NEW PRODUCT LAUNCHES 171
15.8.2 CONTRACTS, PARTNERSHIPS, AND AGREEMENTS 171
16 COMPANY PROFILE 173
16.1 INTRODUCTION 173
16.2 KEY PLAYERS 173
16.2.1 SPACE EXPLORATION TECHNOLOGIES CORP. 173
16.2.2 UNITED LAUNCH ALLIANCE, LLC 177
16.2.3 NORTHROP GRUMMAN CORPORATION 179
16.2.4 MITSUBISHI HEAVY INDUSTRIES 182
16.2.5 BLUE ORIGIN 185
16.2.6 ABL SPACE SYSTEMS 188
16.2.7 INDIAN SPACE RESEARCH ORGANIZATION 190
16.2.8 THE BOEING COMPANY 192
16.2.9 FIREFLY AEROSPACE 195
16.2.10 ROCKET LAB 197
16.2.11 RELATIVITY SPACE 200
16.2.12 ISRAEL AEROSPACE INDUSTRY LTD. 202
16.2.13 ARIANESPACE SA 203
16.2.14 ONE SPACE TECHNOLOGY INC. 205
16.2.15 VIRGIN ORBIT 206
16.3 OTHER PLAYERS 207
16.3.1 SKYROOT AEROSPACE 207
16.3.2 AGNIKUL COSMOS PRIVATE LIMITED 207
16.3.3 GALACTIC ENERGY AEROSPACE TECHNOLOGY CO. LTD. 208
16.3.4 I-SPACE 208
16.3.5 SKYRORA LIMITED 209
16.3.6 GILMOUR SPACE TECHNOLOGIES 209
16.3.7 C6 LAUNCH SYSTEMS 210
16.3.8 ROCKET FACTORY AUGSBURG 210
16.3.9 HYIMPULSE TECHNOLOGIES GMBH 211
16.3.10 ISAR AEROSPACE 211
17 APPENDIX 212
17.1 DISCUSSION GUIDE 212
17.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 216
17.3 CUSTOMIZATION OPTIONS 218
17.4 RELATED REPORTS 218
17.5 AUTHOR DETAILS 219