Global Satellite Launch Vehicle Market is Expected to Reach $2.9 Billion by 2026
HYDERABAD, India, Aug. 20, 2019
HYDERABAD, India, Aug. 20, 2019 /PRNewswire/ — According to Stratistics MRC, the Global Satellite Launch Vehicle Market is accounted for $2.0 billion in 2017 and is expected to reach $2.9 billion by 2026 growing at a CAGR of 4.2%
Some of the key players profiled in the Satellite Launch Vehicle market include Bristol Spaceplanes, Kelly Space & Technology, Mitsubishi Heavy Industries, ARCA Space, E Prime Aerospace, Lockheed Martin, Northrop Grumman Corporation, Blue Origin, Eurockot Launch Service, Virgin Galactic, SpaceX, Boeing Space and Communications, Indian Space Research Organisation (ISRO) and Scaled Composites LLC.
Growing remote sensing applications is one of the major factor fuelling market growth. However, regulatory norms restricting the knowledge and resources sharing of technologies related to the launch owing to mission-critical applications are restricting the market growth.
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Satellites are launched into earth’s orbits via launch vehicles. Launch Vehicles are used to carry spacecraft to space. The launch system consists of the launch pad, the launch vehicle, and other infrastructure. Launch vehicles are classified based on the amount of mass carried into the orbit and the number of stages. They use boosters to supply early thrust and reduce the mass of further stages, thus allowing for larger payloads to be carried into the orbit.
Based on Orbits, GEO orbit segment accounted for steady growth in satellite launch vehicle market owing to the growing deployment of small size communication satellites. The geostationary orbit is an area in space which allows a satellite to remain in orbit over a single point of the earth’s surface.
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By Geography, Asia Pacific satellite launch vehicle market share will witness substantial growth over the forecast period due to rising focus on interplanetary missions and a high number of follow-on missions scheduled.
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- Sun-Synchronous Orbit (SSO)
- Medium Earth Orbit (MEO)
- Low Earth Orbit (LEO)
- Geosynchronous Orbit (GEO)
Number of Payloads Covered:
- Primary Only
- 6 to 10
- 2 to 5
Launch Activity Covered:
- Research & Development
- Earth Observation
- Remote Sensing
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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