Global Satellite Launch Vehicle Market to Reach $14.74 Billion by 2032: Advancement in Satellite Launch Vehicle Design Drives Growth

DUBLIN, July 12, 2023 /PRNewswire/ -- The "Satellite Launch Vehicle Market by Vehicle, by Type, and Region - 2023 to 2032" report has been added to ResearchAndMarkets.com's offering.

The global satellite launch vehicle market size is expected to reach USD 14.74 billion by 2032, according to a new study. The report gives a detailed insight into current market dynamics and provides analysis on future market growth. 

Access to space that is reasonably priced is essential for the commercial space sector. Launch vehicle manufacturers are using improved manufacturing techniques and cutting-edge technology to reduce costs with the help of competition.

Over the next ten years, more payload will probably be launched into space as a consequence. Many companies want to provide a means of transportation for these cargoes. However, with over 75 of them having vehicles in various stages of development or operation, there are already too many firms on the market for small launch vehicles.

The launch vehicle industry has seen a rise in the tendency towards outsourcing manufacturing in recent years due to a number of factors, including decreased manufacturing costs, improved efficiency, and accessibility to specialised knowledge.

One of the primary reasons for outsourcing production in the launch vehicle industry is cost savings. By outsourcing their production, businesses can take advantage of lower labour and material prices in other countries. This can lead to significant expense savings, particularly for large-scale projects.

Another advantage of outsourcing production in the space industry is having access to specialised knowledge. When a company lacks the internal expertise or resources to create specific components or systems, outsourcing can fill the gap.

However, outsourcing is not without its challenges and risks. For instance, when it comes to the debut of vehicles, there might be problems with quality control, communication issues, and intellectual property security. These factors must be meticulously taken into account by launch vehicle companies before deciding whether to outsource manufacturing. To minimise any potential dangers, they must also work closely with their manufacturing partners.

Companies Mentioned

• SpaceX
• United Launch Alliance LLC
• Northrop Grumman Corporation
• Blue Origin
• Mitsubishi Heavy Industries
• Arianespace
• Astra Space Inc.
• Rocket Lab USA Inc.
• ABL Space Systems
• Firefly Aerospace Inc.
• China Aerospace Science and Technology Corporation (CASC)
• Interorbital Systems

Satellite Launch Vehicle Market Report Highlights

• A missile orbital launch vehicle classified as a medium to heavy launch vehicle can carry payloads up to 20,000 kilogrammes (44092.4 pounds) into geostationary, medium earth orbit (MEO), and low earth orbit (LEO). (GEO). Some examples of middle to heavy vehicles include the Ariane 5, Proton-M, Delta IV Heavy, and others.
• Reusable launch vehicles for satellites are those that can be retrieved and put to use once a payload has been placed into orbit. (RLVs). Unlike single use launch vehicles, which must be discarded after just one journey, reusable launch vehicles can be used repeatedly. This might greatly reduce the cost of space flight.
• During the anticipated time period, Asia Pacific is anticipated to contribute the largest share. Asia Pacific is the second-largest market for the utilisation of satellite capability. There will be a significant increase in the number of satellites built and used in the future years.

Key Topics Covered:

1. Introduction

2. Executive Summary

3. Research Methodology

4. Global Satellite Launch Vehicle Market Insights
4.1. Satellite Launch Vehicle Market - Industry Snapshot
4.2. Satellite Launch Vehicle Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Advancement in satellite launch vehicle design
4.2.1.2. Increase space tourism
4.2.2. Restraints and Challenges
4.2.2.1. High cost
4.3. Porter's Five Forces Analysis
4.4. PESTLE Analysis
4.5. Satellite Launch Vehicle Industry trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis

5. Global Satellite Launch Vehicle Market, by Vehicle

6. Global Satellite Launch Vehicle Market, by Type

7. Global Satellite Launch Vehicle Market, by Geography

8. Competitive Landscape

9. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/dmxzll

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SOURCE Research and Markets