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U.S. Satellite Launch Vehicle Market is Expected to Dominate the Overall Industry Share By 2024

Author : Ronak Bora | Published Date : 2019-05-23 

In terms of the number of orbital satellite missions every year, Asia Pacific dominated the satellite launch vehicle market share in 2017. However, the U.S. satellite launch vehicle industry segment is expected to dominate the overall industry share by 2024, owing to the increasing participation of private companies and high number of follow-on missions scheduled in the region.

The ability of satellites to provide uninterrupted communication services over a widespread area has also influenced the segment, tremendously boosting the satellite launch vehicle industry development. Upcoming satellite programs in regions like Europe will create additional demand for SLVs over the coming years, presenting lucrative opportunities for the satellite launch vehicle market.

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According to recent figures provided by UNOOSA, a total of 4,635 satellites were orbiting the earth as of January 2018, with a record 357 satellites launched in 2017 itself. However, it is reported that only 37.5% of these satellites are currently active, indicating the high probability of new satellites to be put into space and the prospective benefits that exist for the satellite launch vehicle market.

India and China are utilizing satellite launch services as a strategy to secure their geopolitical and economic interests. This will enhance the competitiveness and foster growth as their space organizations strive to establish collaborations and long-term agreements on future commercial and non-commercial launches. However, accommodating small payloads along with adequate launching solutions such as optimal price, launch calendar, orbital parameter and reliability for the commercial sector is a major challenge hindering satellite launch vehicle market growth.

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To elaborate, French multinational company Arianespace, the world’s first provider of commercial launch services, had launched the heaviest ever payload into Geosynchronous Transfer Orbit (GTO) in June 2017, transporting a combined weight of 9,968 Kgs of the Eutelsat 172B and ViaSat 2 satellites. Signifying a major contribution by France towards the consolidated satellite launch vehicle industry, the launch proved the capabilities of efficient and advanced SLVs in making vital technology services available from hundreds of kilometers above the earth’s surface

Majority of these satellites are for communication or earth observation and it is noted that most of the European countries operate at least one satellite. Russia boasts of owing nearly 142 satellites itself, with industry reports suggesting that the country has a number of satellite programs in the works. France, after launching its first satellite in 1965, has also emerged as a prominent name in the global satellite launch vehicle market.

The Indian Space Research Organization (ISRO) recently confirmed that it has opted for the services of Arianespace for launching its GSAT-30 and GSAT-31 communication satellites, which are to replace other operating satellites used for providing crucial national services. The satellites, scheduled to be launched near 2018 end in separate missions from the Guiana Space center, will be the 23rd and 24th ISRO satellites put into the orbit by Arianespace.

The strong partnership displayed between ISRO and the French company represent the profitable relations of the Europe satellite launch vehicle market with rest of the world, including the developing economies. The existence of several telecommunication satellite programs in the U.K. and other European countries will further generate substantial revenues for the commercial satellite launch vehicle market.

Prominent players in the satellite launch vehicle market include Boeing Space & Communication, E Prime Aerospace, Lockheed Martin, SpaceX, Virgin Galactic, ISRO, Mitsubishi Heavy Industries, ARCA Space, Kelly Space & Technology and Blue Origin. Joint ventures, partnerships and long-term agreements with Government and private organizations for launch and testing are the key strategies adopted by these players to strengthen their market presence.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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