Global Small Launch Vehicle
A small launch vehicle (SLV) refers to a launch vehicle (rocket) that can carry a payload of a maximum of 2,200 Kg to low Earth orbit (LEO) in a single mission, either dedicated or rideshare. Since the middle of the 1950s, small-lift launch vehicles have been in development and operation across the globe.
After 2014, the SLV market witnessed exponential growth due to an increase in the number of SLV manufacturers and launch service providers. The increasing number of satellite constellations for applications such as communication, technology development, Earth observation, and remote sensing is expected to be the major driving factor for SLV market growth.
As of February 2022, there were 17 operational small-lift launch vehicles and 99 small launch vehicles under development.
Global Small Launch Vehicle (SLV) Industry Overview
The global small launch vehicle market is expected to reach $4,624.0 million by 2032, with a CAGR of 13.34% during the forecast period 2022-2032. The use of small satellites for several applications such as Earth observation, communication, and space exploration is expected to drive the growth of the SLV market.
Several programs such as Airborne Launch Assist Space Access (ALASA) are organized for developing an affordable method for launching small satellites. In addition, with rigorous testing of new technologies and research and development work, ALASA is expected to introduce small launch systems to provide more reasonable, routine, and reliable access to space in less than $1 million per launch.
Global Small Launch Vehicle (SLV) Market by Satellite Mass
Satellite mass is a prominent market segment. The 501-2,200 Kg satellite mass segment has the highest market share and is estimated to grow over the forecast years due to the rise in the number of small satellite constellations from various key manufacturers such as SpaceX, Amazon, Cloud Constellation, Urthecast, and ISRO.
Global Small Launch Vehicle (SLV) Market by Platform Type
The land platform has the highest market penetration in the global SLV market during the forecast period 2022-2032. The market growth is due to cost-effective launch and high success rate.
Global Small Launch Vehicle (SLV) Market by Propulsion Type
Solid propulsion technology is expected to have the highest market penetration in the global small launch vehicle market during the forecast period 2022-2032. This is due to the high demand for solid propellant rockets, which are much easier to store and handle during launch.
Global Small Launch Vehicle (SLV) Market by End-User
The commercial end user is anticipated to witness huge growth over the forecast period. It had a significant market share in 2021 due to the increasing demand for commercial applications such as remote sensing, Earth observation and navigation, surveillance, and satellite internet. The satellite internet constellation is a major project in this segment.
Global Small Launch Vehicle (SLV) Market by Service Type
The pre-launch services segment had a significant market share in 2021 and is estimated to hold significant market share over the forecast period due to an increase in the number of commercial launches per year.
Global Small Launch Vehicle (SLV) Market by Region
In 2021, the contribution of Asia-Pacific held the highest share of the global small launch vehicle market. The region is anticipated to hold a significant share in the global market by the end of 2032. The majority of the market growth in the Asia-Pacific region is contributed by the market in China owing to the presence of key market players such as China Aerospace Science and Technology Corporation (CASC) and Galactic Energy (Beijing) Space Technology Co., LTD. CASC and Galactic accounted for more than 30 successful SLV launches per year.
Key Market Players and Competition Synopsis
The companies profiled in the report have been selected post-in-depth interviews with experts and understanding details around companies such as product portfolios, annual revenues, market penetration, research and development initiatives, and domestic and international presence in the small launch vehicle market.
Some key players in the global small launch vehicle (SLV) market include Arianespace, Astra Space, Inc., Northrop Grumman, Rocket Lab USA, Inc., ABL Space Systems, Blue Origin, Firefly Aerospace Inc., China Aerospace Science and Technology Corporation (CASC), and Interorbital Systems among others.
Market Report Coverage - Small Launch Vehicle (SLV)
- End User: Academic, Commercial, Government, Military and Defense, Non-Profit Organization
- Satellite Mass: 0-500 Kg, 501-2,200 Kg
- Platform Type: Land, Air, Sea, Balloon
- Propulsion Type: Solid, Liquid, Hybrid
- Service Type: Pre-Launch Service, Post-Launch Service
- North America: U.S., Canada
- Europe: Germany, U.K., France, Russia, Rest of Europe
- Asia-Pacific: Japan, China, India, Australia, Rest-of-Asia-Pacific
- Rest-of-the-World: Middle East and Africa, Latin America
Market Growth Drivers
- Increasing Usage of Commercial Off-The-Shelf (COTS) Components
- Growing Demand for Small Satellites and Constellations in LEO
- Increasing Cooperation among Space Agencies for Space Missions
- Absence of Efficient and Reliable Micro-Propulsion Systems
- High Cost Associated with Space Launch Vehicles
- Increasing Developments in Low-Cost Launching Sites
- Emerging Startups in SLV Manufacturing
- Advancements in 3D Printing Technology for Space Industry
Key Companies Profiled
Arianespace, Astra Space, Inc., Galactic Energy (Beijing) Space Technology Co., LTD., China Aerospace Science and Technology Corporation (CASC), IHI Aerospace Co. Ltd., Interorbital System, Israel Aerospace Industries Ltd., Northrop Grumman Corporation, Rocket Lab USA, Inc., ABL Space Systems, Agnikul Cosmos Private Limited, CubeCab, EUROCKOT Launch Services GmbH, Firefly Aerospace Inc., Gilmour Space Technologies, HyImpulse Technologies GmbH, Orbex, PLD Space, Skyroot Aerospace Private Limited, Virgin Orbit
How This Report Can Add Value
This extensive report can help with:
- A dedicated section focusing on the futuristic trends adopted by key players operating in the global small launch vehicle (SLV) market.
- Extensive competitive benchmarking of top 20 players (including SLV manufacturers and launch service providers) offering a holistic view of the global small launch vehicle (SLV) landscape.
- Detailed qualitative and quantitative mapping of satellite launches and manufacturing from 2021-2032.
- Qualitative and quantitative analysis of small launch vehicle (SLV) at the region and country-level granularity by application and product segments.
Recent Developments in Global Small Launch Vehicle Market
- In January 2022, European Space Agency (ESA) awarded a launch contract to Arianespace on behalf of the European Commission.
- In November 2021, Amazon partnered with ABL Space Systems to launch the first two prototype satellites for its Project Kuiper satellite broadband constellation by late 2022. RS-1 rocket will be used for the launch.
- In September 2021, Firefly Aerospace Inc. conducted the maiden flight of its Alpha launch vehicle from Vandenberg Space Force Base in California.
- In August 2021, Gilmour Space Technologies partnered with Exolaunch to sell a full suite of launch and deployment services to a growing number of small satellite operators using the Gilmour designed and built Eris launch vehicle.
Key Questions Answered in the Report
- What are the futuristic trends in the global small launch vehicle market, and how is the market expected to change over the forecast years 2022-2032?
- What are the key drivers and challenges faced by the companies that are currently working in the small launch vehicle (SLV) market?
- How is the global small launch vehicle market expected to grow during the forecast period 2022-2032?
- What are the opportunities for the companies to expand their businesses in the global small launch vehicle (SLV) market?
- Which region is expected to be leading the global small launch vehicle (SLV) market by 2032?
- What are the key developmental strategies implemented by the key players to sustain in this highly competitive market?
- What is the current and future revenue scenario of the global small launch vehicle market?