54.4 F
Washington
HomeUS PoliticsSatellite Launch Vehicle Market to Hit US$ 76.8 Billion by 2034, Driven...

Satellite Launch Vehicle Market to Hit US$ 76.8 Billion by 2034, Driven by 13.9% CAGR | Future Market Insights, Inc.

The United States satellite launch vehicle market thrives due to rising needs in the communication, remote sensing, and defense/intelligence sectors. A Satellite Launch Vehicle (SLV) is a specialized rocket designed to carry & launch payloads, such as satellites, into various orbits in space. This vehicle is essential for sending satellites and other payloads into space, allowing them to achieve their intended orbits and perform their designated missions.

NEWARK, Del, March 22, 2024 (GLOBE NEWSWIRE) — The satellite launch vehicle market is expected to be valued at US$ 20.9 billion in 2024. The market is projected to progress at a CAGR of 13.9% from 2024 to 2034. By 2034, the market value is forecasted to hit US$ 76.8 billion.

The satellite launch vehicle is experiencing a surge in demand due to the increasing need for satellite applications, which are now used for various purposes, including communication, navigation, remote sensing, and scientific research.

Advancements in satellite technology have led to the need for launch vehicles that can handle heavier payloads and deliver them to a wider range of orbits. As a result, governments around the world are investing heavily in space exploration and research, driving the demand for launch vehicles.

With the entry of new players into the market, launch providers are competing to differentiate themselves by offering lower prices, better performance, and more reliable services. Additionally, there is a growing demand for reusable launch vehicles, which can significantly reduce the cost of launching satellites into space, making it more accessible to a wider range of customers which leads to a surge in research and development in this area.

Request a Sample Copy of the Satellite Launch Vehicle Market Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-19223

Key Takeaways from the Satellite Launch Vehicle Market

  • The satellite launch vehicle market is estimated to register a CAGR of 13.9% with a valuation of US$ 76.8 billion by 2034.
  • The small (<350,000 kg) segment is expected to dominate the market, accounting for a 13.7% market share in 2024.
  • With a 13.5% market share, the <500 kg segment is expected to drive the market in 2024

“The Satellite Launch Vehicle Market exhibits robust growth prospects, driven by burgeoning demand for satellite deployment across various sectors including communication, navigation, and earth observation. Key players in the industry are strategizing investments in technological advancements and enhancing launch capabilities to capitalize on this burgeoning market opportunity.” – says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.

Competitive Landscape:

The market is highly competitive with participation from both government and private sectors. The market is marked by intense competition, technological advancements, and a focus on innovation. The privately-owned segment of the market comprises a diverse range of players, such as start-ups, and established aerospace companies from different industries. These companies are engaged in the development and launch of satellites for commercial and scientific purposes, including Earth observation, remote sensing, and communication.

Leading Key Players:

  • SpaceX
  • Arianespace
  • United Launch Alliance
  • Roscosmos
  • Blue Origin
  • China Aerospace Science and Technology Corporation
  • Mitsubishi Heavy Industries
  • Indian Space Research Organisation
  • Eurockot Launch Services
  • Virgin Orbit

Seize the Opportunity: Buy Now for a Thorough Report! https://www.futuremarketinsights.com/checkout/19223

Recent Developments in the Satellite Launch Vehicle Market:

In 2023, Amazon announced that it partnered with SpaceX, a private American aerospace manufacturer, to facilitate the deployment of Project Kuiper. The project aims to launch a constellation of low Earth orbit satellites that will provide high-speed, low-latency broadband internet to communities worldwide that remain unserved or underserved. Amazon has secured three launches with SpaceX to support the implementation of this plan.

Satellite Launch Vehicle Market Segmentation:

By Vehicle:

  • Small (<350,000 Kg)
  • Medium to Heavy (> 350,000 Kg)

By Payload:

  • <500 Kg
  • 500-2,500 Kg
  • 2,500 Kg

By Orbit:

  • Low Earth Orbit (LEO)
  • Medium Earth Orbit (MEO)
  • Geostationary Orbit (GEO)

By Launch:

  • Single-Use/Expendable
  • Reusable

By Stage:

  • Single Stage
  • Two Stage
  • Three Stage

By SubSystem:

  • Structure
  • Guidance, Navigation & Control System
  • Propulsion System
  • Telemetry, Tracking & Command System
  • Electrical Power System
  • Separation System

By Region:

  • North America
  • Latin America
  • East Asia
  • South Asia
  • Europe
  • Oceania
  • MEA

Authored By:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients. 

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

Have a Look at the Related Reports of the Technology Domain:

Satellite Modem Market Demand: The market revenue is likely to be valued at US$ 450 Million in 2022 and exhibit a revenue growth of US$ 1,890 Million by 2032.

Multi Touch Sensing Market Scope: With 9.9% projected growth from 2023 to 2033, the market is expected to reach a valuation of US$ 33.22 billion by 2033.

Space Management Solutions Market Share: The market is poised to witness a CAGR of 7.8% during the forecast period. Over this projection period, it is estimated to reach a net worth of US$ 1.89 Billion by 2032.

Satellite Ground Station Market Analysis: It is projected to reach US$ 274.0 billion by 2034. The market is expected to record a CAGR of 14.3% from 2024 to 2034.

Depth Sensing Market Growth: Global depth sensing demand will rise at 4.5% CAGR. By the end of 2032, the global market will reach about US$ 16.1 billion.

Remote Sensing Services Market Overview: Sales are poised to soar by 14.0% CAGR over the forecast period between 2023 and 2033. Demand is anticipated to transcend at US$ 68.0 billion by 2033 end.

Small Satellite Market Forecast: The market is anticipated to expand its boundaries with a strong CAGR of 15.3% during the forecast period to reach US$ 55.9 billion by 2033.

Communications Platform as a Service (CPaaS) Market Trends: The market valuation is projected to be US$ 120.996 billion by 2034, registering a staggering CAGR of 25.6%.

Space DC-DC Converter Market Size: The global market is predicted to surge to US$ 168.8 million in 2034, growing at a striking 13.2% CAGR between 2024 and 2034.

Navigation satellite system Market Outlook: The global demand for the market is expected to rise at a healthy CAGR of 8.1% per year to US$ 3,80,322.0 million by 2032

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: [email protected]
Website: https://www.futuremarketinsights.com
LinkedInTwitterBlogs | YouTube


Primary Logo

Originally published at https://www.einpresswire.com/article/698004992/satellite-launch-vehicle-market-to-hit-us-76-8-billion-by-2034-driven-by-13-9-cagr-future-market-insights-inc

- Part of VUGA -marketing agency

latest articles

gossip tv free

explore more

free fashion tv