Launch vehicles are an important aspect of the global space industry as they carry satellites into the required orbits. The U.S., China, Japan, France, and India are few of the dominant countries that have developed launch vehicles across different categories, such as small launch vehicle, medium launch vehicle, heavy launch vehicle, and super-heavy launch vehicle, which deliver payloads for communication, earth observation, and remote sensing, among others. As the demand for dedicated launches, particularly for small satellites, is increasing predominantly, small launch vehicles (SLVs) are gaining huge traction in the market. This is consequently expected to create huge growth in the small launch vehicle market over the coming years.
Small launch vehicles (SLVs) are defined as those with a payload capacity of less than 2,200 kg, mainly developed and designed to cater to the small satellite market. The major factors differentiating SLVs from conventional heavy launch vehicles are the performance of the vehicle that depends on how much payload the vehicle can lift to a certain orbit and the price of the launch. With the increase in the capabilities of small satellites, the space industry is developing strategic utility, thus, motivating various stakeholders including government, space agencies and private companies, to develop dedicated and next-generation small satellite launch vehicles.
According to the latest report, titled 'Global Small Launch Vehicle Market- Analysis & Forecast, 2018-2028’, the market reported a revenue of $341.2 million in 2017 and is expected to grow at a significant CAGR during the forecast period 2018-2028. The global small launch vehicle market has been segmented into five end-users: academic, commercial, government, defense, and non-profit organization. The government end-user segment acquired the largest share in 2017; however, academic end-user segment is expected to grow at the highest CAGR during the forecast period, 2018-2028. In addition, the global small launch vehicle market is also classified depending upon the payload, such as < 20 kg, 20 kg - 150 kg, 151 kg - 500 kg, 501 kg – 1,200 kg, and 1,201 kg – 2,200 kg. The 1,201 kg – 2,200 kg payload range had the highest penetration in the market in 2017, however, the 501 kg – 1,200 kg payload range market is estimated to grow at the highest CAGR during the forecast period, 2018-2028.
Few Companies Mentioned in the Report:
Key Topics Covered in the Report:
The study provides detailed analysis of 17 key players in the global small launch vehicle market, including Arianespace, 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, among others, in the Company Profiles section. This section covers business financials, company snapshots, key products and services, major developments, future programs (if any), and the individual SWOT analysis.
Source: ASDReports - Market Research
Date: Dec 5, 2018