A Satellite Launch Vehicle (SLV) is a rocket that carries satellites into orbit. These vehicles are meant to lift satellites from the Earth's surface and deploy them in geostationary or low-Earth orbit. SLVs are critical in the space industry since they are the principal means of launching satellites for communication, weather forecasting, scientific research, and other purposes. The global satellite manufacturing and launch vehicle market is dynamic and continually changing, playing an important role in modern civilization. A variety of factors drive the business, including rising demand for satellite-based services, increased access to space for both public and private entities entering the market, and incumbent companies improving their capabilities.
Global Satellite Launch Vehicle Market Driving Factors and Challenges
The Satellite Launch Vehicle market is expanding rapidly due to rising demand for satellite installations in industries such as communication, navigation, and Earth observation. The market is likely to grow significantly in the next years, owing to advances in satellite technology, increased government funding in space exploration, and rising demand for satellite internet services. Emerging trends, such as the development of reusable launch vehicles and tiny satellite launches, are likely to fuel market expansion. Key market participants are concentrating on partnerships and collaborations to strengthen their market position and address rising demand for satellite launches. The tremendous success of recent space exploration missions by Asia Pacific space agencies, such as the Indian Space and Research Organisation (ISRO) and the China National Space Administration (CNSA), can be attributed to the region's large number of qualified scientists and personnel with relevant key skills.
Critical space operations rely largely on intellectual assets, which include R&D, patents, software, human resources, and innovative organizational structures. These assets have a strategic role in corporate value creation. However, the rise of the services sector, globalization, deregulation, and the introduction of new information and communication technologies have all contributed to a global scarcity of intellectual assets.
Impact of COVID-19 on Global Satellite Launch Vehicle Market
The study investigates and assesses the influence of the COVID-19 corona virus on the Satellite Launch Vehicle Market Forecast, providing a complete analysis and professional recommendations on how to navigate the post-COVID-19 future. The information was acquired from both primary and secondary sources and reviewed by experts in the subject. Interviews with analysts, industry executives, suppliers, and distributors are among the most important sources. Secondary sources also provide necessary document proofreading.
Global Satellite Launch Vehicle Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as SpaceX, Arianespace, United Launch Alliance, Roscosmos, Blue Origin, China Aerospace Science and Technology Corporation, Mitsubishi Heavy Industries, Indian Space Research Organisation, Eurockot Launch Services & Virgin Orbit.
Global Satellite Launch Vehicle Market Segmentation:
By Vehicle: Based on the Vehicle, Global Satellite Launch Vehicle Market is segmented as; Small <350,000 kg, Medium to Heavy >350,000 kg
By Payload: Based on the Payload, Global Satellite Launch Vehicle Market is segmented as; <500 kg, 500-2,500kg, >2500 kg
By Orbit: Based on the Orbit, Global Satellite Launch Vehicle Market is segmented as; Low Earth Orbit (LOE), Medium Earth Orbit (MEO), Geostationary Orbit (GEO)
By Launch: Based on the Launch, Global Satellite Launch Vehicle Market is segmented as; Single – use/Expendable, Reusable
By Stage: Based on the Stage, Global Satellite Launch Vehicle Market is segmented as; Single Stage, Two Stage, Three Stage
By Subsystem: Based on the Subsystem, Global Satellite Launch Vehicle Market is segmented as; Structure, Guidance, Navigation & Control System, Propulsion Systems, Telemetry, Tracking & Command Systems, Electrical, Separation Systems
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.