Market Snapshot:
As per the analysis by Market Research Future (MRFR), The global Satellite Launch Vehicle Market is projected to acquire a valuation of USD 40.54 billion and can expand at a CAGR of 13.12% during the review period 2020-2030.
The increasing deployment of satellite for remote sensing applications, communication, navigation, and others are projected to drive the global satellite launch vehicle market 2020. The growing number of satellite launches for RD and space research are likely to actuate the demand for satellite launch vehicles, which can develop the market. Further, the technical development in satellites is likely to reduce the overall cost, which is predicted to enhance the satellite demand along with market strength.
On the contrary, the rules restricting the exchange of knowledge and technologies owing to security reasons can restrain the market growth. However, the increased government investments, along with aforementioned factors are projected to combat obstructing causes and can boost the market growth.
Market Segmentation:
The segment analysis of the global Satellite Launch Vehicle Market Report is done by the number of payloads, orbit, application, and launch activity.
The number of payloads based segments of the global satellite launch vehicle market are primary only, 2 to 5, and 6 to 10. The primary only segment is expected to value USD 1,557.0 million by 2025.
The orbit-based segments of the global satellite launch vehicle market are Medium Earth Orbit (MEO), Sun-Synchronous Orbit (SSO), Low Earth Orbit (LEO), and Geosynchronous Orbit (GEO). Among all, the GEO segment is projected to dominate the market during the forecast period
The application- based segments of the global satellite launch vehicle market are navigation, research development, communication, scientific, earth observation, meteorology, and remote sensing. The communication segment is likely to dominate the market during the review period.
The launch activity based segments of the global satellite launch vehicle market are non-commercial and commercial.
Key Players:
The renowned players of the global Satellite Launch Vehicle Market are Kelly Space Technology, Inc. (US), Arca Space Corporation (US), Boeing (US), Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Blue Origin (US), Indian Space Research Organization (India), Space Exploration Technologies Corporation (US), Mitsubishi Heavy Industries, Ltd (Japan), Virgin Orbit (US), Bristol Airspace (UK), Eurockot Launch Services GmbH (Germany), E-Prime Aerospace (US), and Scaled Composites LLC (US).
Regional Analysis :
Based on the region, the global Satellite launch Vehicle Market Research is segmented into Europe, North America, Asia-Pacific, and the Middle East and Africa.
As per the analysis, the global market is estimated to be led by North America during the forecast period owing to the presence of advanced economies. Further, the presence of key players are projected to strengthen the regional market during the assessment period.
Europe is likely to secure the second position during the review period owing to the extensive RD and favorable initiatives being taken by the government. Further, the growing aerospace and defense industry in France is estimated to boost the regional market additionally.
The APAC region is estimated to be a lucrative market during the forecast period. The regional market is estimated to procure USD 845.8 million, expanding at a CAGR of 2,15% by 2025. The presence of developing countries such as India, China, and Japan are projected to play an important role during the review period.
The MEA region is likely to show slow growth during the forecast period owing to the lack of resources. However, the Middle East countries can play a role in expanding the regional market owing to the presence of stable economies.
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About Market Research Future:
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