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Satellite Launch Vehicle Market By Number Of Payloads, Application, Growth Potentialm, Competitive Market Share & Forecast, 2024

Author : Ronak Bora | Published Date : 2019-06-11 

Satellite Launch Vehicle Market is estimated to exceed USD 2.4 billion by 2024. This in turn has led to increased frequency of launches every year for applications in defense, scientific research, and communication, which in turn will fuel the global satellite launch vehicles market. For instance, in 2017, over 50 missions were successfully deployed for mission critical applications specifically focused on scientific research, earth observation, and communication applications across the globe.

International Launch Services (ILS) is an American Russian joint venture that was formed as private spaceflight partnership among Khrunichev, Lockheed Martin (LM), and Energia. ILS exclusively owns rights for global civil & commercial sales, and mission management of Angara, and Proton Breeze M. Growing emphasis on international co-operation for providing launch services for commercial applications and small economies is expected to drive the overall satellite launch vehicle market.


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Commercial satellite launch vehicle market segment is expected to witness highest growth over the forecast timeframe. Navigation, earth observation data for oil & mineral exploration, biomass measurement, providing access to critical information small economies, and communication will provide strong growth prospects through the forecast timeframe. High competition between Russia and European Union to uphold dominance in the commercial segment will drive the segment growth.

Regulatory norms restricting the knowledge and resources sharing of technologies related to the launch owing to mission critical applications are expected to hinder the technological developments in the industry space. Moreover, high initial cost of the launch and associated environmental problems and limitations are expected to be among the major factors expected to hamper the satellite launch vehicle market growth through the forecast period.

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Operator states are highly focused on the protectionism of local producers, specifically in the Europe and the U.S. Moreover, China and the U.S. that hold substantial positioning in the global industry have limited participation in the commercial sector, is expected to present considerable challenge to the satellite launch vehicle market share. However, these nations are expected to increase the number of the commercial launches over the coming years, to strengthen their presence in the commercial launches sector.

Based on orbits, GEO satellite launch vehicle segment is expected to retain its industrial dominance through the forecast period. It can be attributed to the substantial application in communication and earth observation among its primary payload applications.

Increased launch frequency owing to substantial number of follow on missions to provide efficient communication will present strong growth prospects over the next 6 years. Communication application segment is expected to account for over 40% of the global satellite launch vehicle market revenue share by 2024.

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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 market 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.

Some of the major satellite launch vehicle market participants include ARCA Space, Blue Origin, Boeing Space and Communications, Bristol Spaceplanes, E Prime Aerospace, Eurockot, Indian Space Research Organisation (ISRO), Kelly Space & Technology, Lockheed Martin, Mitsubishi Heavy Industries, Northrop Grumman Corporation, Scaled Composites LLC, SpaceX, and Virgin Galactic.

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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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