Global Satellite Launch Vehicle Market Research Report?Forecast till 2025
The global satellite launch vehicle market is estimated to register a CAGR of 2.77% during the forecast period. The satellite launch vehicles are used to carry spacecraft to space). These vehicles help satellites to reach its projected orbit. The global satellite launch vehicle market is expected to witness substantial growth in terms of values it is evaluated as USD 2,438.1 Million. The growth of the market is driven by the research and development programs initiated several countries across the globe to expand the communication network. The increasing investments by the leading companies in the region, such as Airbus SAS in the development of satellite launch vehicles are expected to boost the market growth.
The Global Satellite Launch Vehicle Market is growing at a steady rate owing to the increasing defense expenditure and frequent launches of military satellites. The increasing investments by venture capital firms rising military expenditure are the primary factors driving the satellite launch vehicle market. Europe is expected to command the global satellite launch vehicle market.
The Global Satellite Launch Vehicle Market has been classified based on orbit, the number of Payloads, Launch Activity, Application, and Region. By orbit segment, the market has been classified as Sun-Synchronous Orbit (SSO), Medium Earth Orbit (MEO), Low Earth Orbit (LEO), and Geosynchronous Orbit (GEO). The number of payloads segment of the market has been segmented into primary only, 2 to 5, and 6 to 10. Based on launch activity, the market has been classifying into non-commercial and commercial. By application type, the market has been divided into research & development, navigation, communication, scientific, meteorology, earth observation, and remote sensing.
Based on region, the global satellite launch vehicle market has been spread across North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. Europe held the largest market share of the satellite launch in 2018, followed by North America.
European satellite launch market was estimated at USD 728.9 million in 2018 and it is evaluated to exhibit a CAGR of 2.15% during the review period. The regional market growth is propelled by factors such as the increasing adoption of advanced technologies and growing investments by the government of countries such as Germany in the manufacturing of satellite are factors expected to drive the demand for satellite launch vehicles. Additionally, rising expenditure by the UK Space Agency in satellite launch vehicle companies is estimated to boost the market in the UK.
The Preeminent Players in the Global Satellite Launch Vehicle Market are Boeing (US), Arca Space Corporation (US), Lockheed Martin Corporation (US), Blue Origin (US), Northrop Grumman Corporation (US), Indian Space Research Organization (India), Mitsubishi Heavy Industries, Ltd (Japan), Space Exploration Technologies Corporation (US), Virgin Orbit (US), Eurockot Launch Services GmbH (Germany), Bristol Airspace (UK), E-Prime Aerospace (US), Kelly Space & Technology, Inc. (US), and Scaled Composites LLC (US).
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