Small Launch Vehicle Market Soaring Demand Assures Motivating Revenue Share During 2019-2029
Posted: Jun 29, 2020
The SLV market is at a cusp of technological changes, as the adoption of additive manufacturing (AM) in the space industry is increasing. AM has the ability to manufacture hollow complex parts, which, in turn, leads to a reduction in the overall weight of the component and cost of the vehicle. However, there will be a tremendous increase in the launch vehicle scheduling, especially by small satellite constellation developers, which were earlier dependent on large satellite launch providers to send their small satellites as a secondary payload. Small launch vehicles provide dedicated launch services and are expected to add exponential value to the overall launch industry.
The global space economy has been growing at a rapid pace, owing to the increasing requirement of satellite and small launch vehicle (SLV) services across different end-users, such as defense, academic, commercial, government, and non-profit organizations. The sector has been undergoing numerous developments since the past years, due to several factors, including the increasing cost-effectiveness of various systems and the emergence of different technologies, such as 3D printed electronic components and structures, air-breathing propulsion systems, electronic propulsion systems, and reusable launch vehicles. The business across the value chain of the space sector, from manufacturing to services, is majorly dominated by the government sector; however, the contribution of private key players is growing, as satellite's usage has been exponentially increasing in defense academic, as well as commercial sectors.
Moreover, increasing applications of space technologies, such as surveillance for the military sector, and real-time imaging requirements by different sectors, are also leading to the evolution of the space industry. To cater to the applications mentioned above, the demand for a significant number of small satellites and cost-effective launch vehicle solutions increases every year. More than 4,500 satellites (wet mass less than 500 kg for each satellite), including nano, micro, and pico, are expected to be launched over the next ten years. With this tremendous change happening in the industry, the focus of launch vehicle manufacturers has changed drastically from the heavy and large satellite launch vehicle to small satellite launchers at an affordable cost.
The global small launch vehicle (SLV) market is one of the most competitive industries, with the leading players actively competing against each other to gain a more significant market share. The competitive landscape of the SLV market exhibits an inclination toward emerging strategies and developments by market players.
The key players that are actively participating in the global SLV market include CubeCab, EUROCKOT Launch Services GmbH, IHI Corporation, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Mitsubishi Heavy Industries, Ltd., Orbital ATK, Inc., Rocket Lab USA, Inc., Space Exploration Technologies Corp., Spacefleet Ltd., and The Boeing Company.
Obtain Report Sample at: https://bisresearch.com/requestsample?id=915&type=download
Key Questions Answered in the Report:
- What are the major driving forces that tend to increase the demand for SLVs during the forecast period 2020-2030?
- What are the major challenges inhibiting the growth of the SLV market?
- What was the revenue generated in the global SLV market by payload range in 2019?
- Which end user of the SLV market (defense, government, academic, commercial, and non-profit) is expected to dominate the market in the coming years?
- What was the revenue generated in the global SLV market by end user in 2019, and what are the estimates by 2030?
- Which payload range (
Bis Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.