As specified in our exclusive report, the global Small Launch Vehicle Market is projected to reach USD 4.3 billion by 2030.
The increasing focus on reuse and dual-use of small launch vehicle applications, including hypersonic flight technology test beds, is a key factor supporting the market's revenue growth. Low-cost small launch vehicles with a high degree of parallelism as cost-effective hypersonic flight test platforms with substantial potential for the defense and commercial markets will provide lucrative opportunities.
The rising use of COTS technologies is a major driver contributing to the revenue growth of the market. COTS technologies are playing a major role in small satellites. This includes the use of automotive and industrial-grade electronics and various other elements from non-traditional space markets. Many electronics are being incorporated into space design, including imaging technologies, navigation, radio technologies, and GPS receivers used in cell phones.
Recent Development
July 2021: iRocket announces contract with NASA to launch Vehicles for small satellites. iRocket is a startup based in the US and involved in the production of autonomous reusable rockets for cargo to low Earth orbit to small satellite constellations via its Shockwave launch vehicle.
Which Region Holds the Highest Share?
Asia-Pacific held the largest share in 2021, and it is expected to grow at a rapid rate during the forecast period. Due to the rising launch of small satellites in various end-use applications and rising government initiatives boosting space activities.
Some of the key players in the small launch vehicle market are:
Arianespace, Astra Space, Inc., Northrop Grumman, Rocket Lab USA, Inc., ABL Space Systems, Blue Origin, Firefly Aerospace Inc., China Aerospace Science and Technology Corporation (CASC), Interorbital Systems.
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