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Global Small Launch Vehicle Market - Analysis and Forecast (2017-2026) (Focus on Payload Ranges and End Users)

Global Small Launch Vehicle Market - Analysis and Forecast (2017-2026) (Focus on Payload Ranges and End Users)

  • July 2017
  • 180 pages
  • ID: 5010272
  • Format: PDF
  • BIS Research


Table of Contents

The small launch vehicle market is experiencing an advanced rate of growth over the past couple of years due to the increasing demand of small satellite applications in commercial, defense & military, and government end users. This high scale of growth of the space industry is subsequently influencing the small launch vehicle market, wherein a new range of programs are being carried out to develop latest small launch vehicle technologies.

The growing demand of small satellite constellations for satellite applications, such as remote sensing, navigation, communication, and earth observation is the major factor driving the growth of small launch vehicle market. Moreover, significant increase in investment of large space organization in developing small launch vehicles is expected to boost the growth of the market during the forecast period, 2017-2026.

Furthermore, companies and space organizations are conducting research activities to develop reusable small launch vehicles. This will significantly increase the frequency of launches and reduce the launch price, thus, creating a lucrative opportunity for the market in coming years. In terms of revenue, small launch vehicle market generated $166.3 million in the year 2016.

Following points provide a concrete description of the report content and the topics covered in the report:
- This report identifies the global small launch vehicle market under different segments such as payload range, end user, and geography
- The study includes the market analysis and forecast of global small launch vehicle market from 2016 to 2026 in terms of value. The report also highlights the year-on-year growth of the market
- It examines the prime supply and demand side factors affecting the growth of the market along with the current and future trends prevalent in small launch vehicle market
- It also presents a detailed examination of small launch vehicle market along the lines of market drivers, restraints, growth opportunities, and challenges
- The report also highlights the value chain of the industry with a major focus on market attractiveness, including market share analysis and competitive benchmarking
- Futuristic scenario analysis provides impact of ongoing technological advancements on the market and opportunities for different stakeholders
- A detailed competitive analysis has been included in this report which focuses on the key market developments & strategies followed by the key players in the market
- Small launch vehicle market analysis and forecast for different payload ranges, including < 20 kg, 20 kg – 50 kg, 50 kg – 200 kg, 200 kg – 500 kg, and 500 kg – 1,200 kg, garners major emphasis in the report
- Small launch vehicle market has been analyzed with respect to various end users such as academia, government, defense, non-profit organizations, and commercial sector, including IT & telecommunication, agriculture, oil & gas, and mining
- Small launch vehicle market has been analyzed for all geographies including North America, Europe, Asia-Pacific, and Rest of the World with further qualitative analysis with respect to other major countries
- Several ongoing research activities for advancement of small launch vehicle are included in this report
- The key market players are analyzed and profiled in detail in the report. This section covers business financials, company snapshots, key products & services, major developments, future programs (if any), and SWOT analysis

Executive Summary
Small launch vehicles market is witnessing a high rate of demand in the space industry owing to increase in the capabilities of small satellites, specifically for commercial and academic end users. The space industry is gradually developing their strategic utility, thus, motivating various stakeholders including governments, space agencies, and private companies to develop dedicated and next-generation small satellite launch vehicles.

Presently, small satellites are being increasingly used for weather forecast, surveillance, earth observation, navigation, communication, meteorology, and other purposes. Of late, other missions like human space exploration activities or development of new space stations have also created a demand for high frequency of launches. Hence, there has been a growing interest among researchers and the scientific community to design and develop launch vehicles capable of multiple launches and positioning small satellites into different orbits at low cost.

Furthermore, the challenges faced by small satellite manufacturers during launch through heavy vehicles is escalating the demand for development of small launch vehicles dedicated for launching small satellites.

Currently, the launching price of SLVs is higher as compared to conventional launch vehicles, mainly due to low rate of availability of SLVs in the market, lack of dedicated launch sites, and high ground operational costs.

However, major space faring organizations are aiming to build their own launch sites, and to provide cost effective solutions to major SLV manufacturers. Furthermore, technological advancements in propulsion system and structure as well as integral parts of SLVs, is expected to significantly reduce manufacturing cost, size, and complexity. EUROCKOT Launch Services GmbH, IHI Corporation, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Rocket Lab USA, Inc., and Orbital ATK, Inc. are some of the major players of small launch vehicle market.

The small launch vehicle market is witnessing a high growth rate owing to increase in deployment of small satellites for commercial end users, surge in demand for small satellite constellations, and significant increase in investment of large space organization in developing small launch vehicles. Recent innovations in launch vehicle components and services has enabled the small launch vehicle technology to reach a wider segment of consumers in the industry.

However, reduction in the selling price of small launch vehicles and developing a dedicated and low cost launching site for small launch vehicles, contribute as major challenges for the market. Companies are developing various forms of emerging technologies such as 3D printed electronic components and structure, air breathing propulsion system, electronic propulsion system, and reusable launch vehicles, among others, to develop cost effective SLVs.

This, in effect, is expected to increase competition in the near future as well as facilitate the utilization of small launch vehicle for small satellite space missions. The small launch vehicle market reported a revenue of $166.3 million in 2016, with 200 kg – 500 kg payload range segment accommodating for the highest revenue by 2026.

As the figure shows, the 500 kg – 1,200 kg payload range contributed the largest share to the small launch vehicle market, owing to substantial number of companies in space industry. Some of the active players offering SLVs in this payload range are IHI Corporation, The Boeing Company, Lockheed Martin Corporation, Orbital ATK, Inc., and Mitsubishi Heavy Industries, Ltd.

However, 50 kg – 200 kg payload range is expected to witness highest growth rate in the market, during the forecast period, 2017-2026. The growth of the payload range is mainly driven by rise in launch of small satellites for the development of distributed systems or constellations of small satellites for varied commercial applications.

The future demand for small launch vehicles across different geographies is expected to be promising, with Asia-Pacific having the highest market share during the forecast period (2016-2026), followed by Rest of the World (RoW), North America, and Europe. Increased spending in the small launch industry by government space organizations in the region such as Japan Aerospace Exploration Agency, Korean Committee of Space Technology, China Academy of Launch Vehicle Technology, and Indian Space Research Organization (ISRO), is expected to maintain the Asia-Pacific’s dominance in the market throughout the forecast period.

North America is expected to foster high growth rate in the market during the forecast period, owing to constant developments in launch vehicle technologies by the government space organizations and companies, which are focusing on developing innovation in space technology to transform commercial space missions. Furthermore, there are several prominent start-up manufacturers that are engaging in the development of new system technologies to expand the capabilities of space mission, thus, contributing to the growth of the market in the region.

Countries Covered
- North America
- Europe
- Asia-Pacific
- Rest of the World

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