Satellite Launch Vehicle Market size is anticipated to grow at a CAGR of over 12.5% between 2023 and 2032

Satellite Launch Vehicle (SLV) Market Size
Satellite Launch Vehicle Market size was USD 14.4 billion in 2022 and is expected to grow at a CAGR of more than 12.5% during the forecast period of 2023 to 2032.

Satellites are now an integral part of our daily lives and national security. They link us to the world, offering internet, phone, and TV signals to even the remotest parts of the world. Governments use satellites to keep an eye on their borders and gather intelligence, while scientists rely on them to study our planet and beyond. As the world becomes more interconnected, the need for reliable communication everywhere is growing. Satellite companies are launching fleets of satellites to bring high-speed internet to places where cables can’t reach. These satellites are also bridging the digital divide, providing education, healthcare, and other services to rural and underserved populations. Satellites also contribute to making our countries secure. Satellites give governments timely information about possible threats and enable them to react promptly in case of an emergency. They also aid in military operations and provide secure communication between ground troops and command posts.

Report Attribute Description 
Base Year 2022
Satellite Launch Vehicle (SLV) Market Size in 2022 USD 14.5 Billion
Forecast Period 2022 to 2032
Forecast Period 2022 to 2032 CAGR 12.5%
2032 Value Projection USD 45 Billion
Historical Data for 2018 – 2022
No. of Pages 200
Tables, Charts & Figures 660
Segments covered Orbit, Payload, Launch activity, Launch, Application
Growth Drivers=
The need for global internet connectivity
Increased Deployment of Satellites
The arrival of commercial space services
Environmental sustainability and monitoring of climate change
Advances in propulsion technology, materials and manufacturing methods
Pitfalls & Challenges
Reliance on Government Contracts
Delayed launches owing to lengthy development cycle

With a lengthy development process, producers might lose the opportunity to capitalize on emerging trends, needs, or niche markets. Fast-changing satellite technology and evolving customer requirements could make a vehicle obsolete before deployment. Long development cycles causing delayed launches can cause frustration among customers, who want to deploy their payloads. They might turn to competitors, who can offer quicker access to space, and thereby stifle market growth.

COVID-19 Impact

The COVID-19 pandemic also had major effects on many industries such as the Satellite Launch Vehicle (SLV) industry. Lockdowns, restrictions, and shutdowns of manufacturing plants globally disrupted supply chains, causing delays in the production of components & materials used for SLVs, subsequently delaying the construction & testing of new launch vehicles. Social distancing policies and work-from-home arrangements impacted the availability of the workforce in the aerospace sector. The requirement to follow safety procedures hindered production activities and brought about challenges in managing intricate projects.
Satellite Launch Vehicle (SLV) Market Trends
Launching satellites into space is no longer the same. Previously, governments alone could afford launching satellites. But today, new players such as SpaceX, Blue Origin, and Rocket Lab are making it affordable for anyone to launch things into orbit. SpaceX’s Falcon 9 rocket is reusable, so it can be flown several times before it needs to be rebuilt. This makes it much less expensive to send things into space. And SpaceX has a good track record, having had many successful launches. Blue Origin is commercializing space tourism. Their New Shepard rocket is capable of sending people on short flights into space. This is providing ordinary people an opportunity to live like an astronaut. Rocket Lab is the preferred launch company for small satellites. Electron rocket from Rocket Lab is ideal for launching payloads of under 500 pounds. This is expanding new opportunities for entrepreneurs and researchers who want to launch small satellites. The emergence of these commercial launch service providers has made the market more competitive. That’s good news for consumers, because it means they have more choices and can receive better deals on launches. It’s good news for the space industry in general, because it’s making space more accessible and affordable to explore.

Satellite Launch Vehicle Market Analysis
Discover more about the major segments defining this market

Imagine the satellite launch vehicle industry as a big pie. It’s divided into two piecesa single-use kind (such as throwaway plates) and a reusable kind (such as reusable coffee mugs). In 2022, the reusable part was the larger half, occupying more than 40% of the pie. And get this? Experts are forecasting it’s just going to continue to grow, expanding like gangbusters through 2032. Why? Because reusable launch vehicles are space-saving superheroes for ambitious nations who wish to join the satellite launch party. They can assist these nations in reducing launch expenses, allowing them to develop their space programs and launch their own satellites to communicate with other nations, monitor our planet, and explore the mysteries of the universe. These reusable rocket marvels are propelling some really awesome innovations in rocket engines, materials, reentry technology, and landing systems. And these innovations are not just about reducing the cost of launching satellites. They’re also leading to even more exciting space adventures, such as going to Mars or walking on the Moon once more.

Space missions are launching in North America! This is due to a combination of chilly new technology, increasing demand, and strategic actions by market leaders. More than 35% of the action in launching satellites took place in North America in 2022. Giants such as SpaceX and OneWeb are constructing massive constellations of satellites to deliver lightning-fast internet to all corners of the world. And with more satellites comes the need for more launches, which is fueling the growth of this industry. Big shots like NASA and the Pentagon are also playing a big role. They’re handing out contracts for satellite launches, space science missions, and projects to keep our country safe. This is also giving a boost to the launch vehicle market. And it’s not just about Americans sending stuff into space. Firms here are launching satellites for clients worldwide. That global demand translates into additional business for North American launch providers and fuels the industry’s growth even more.

Satellite Launch Vehicle Market Share

Satellite launch vehicle market is highly competitive owing to the presence of key players such

•  ABL Space Systems
• ARCA Space
• Arianespace SA
• Blue Origin
• EPrime Aerospace
• Eurockot Launch Services
• Firefly Aerospace
• Gilmour Space Technologies
• Mitsubishi Heavy Industries
• Northrop Grumman Corporation Relativity Space
• Rocket Lab
• Skyrora Limited
• SpaceX
• United Launch Alliance LLC

Industry participants are expected to expand their foothold in the commercial industry with growing investments in facility centers & acquisitions. Significant R&D investments to gain technological competitiveness and aggressive business strategies including technological launches, collaborations & long-term agreements with clients to capture the market share are positively impacting the market.