Published: Dec-2022|  Format: PDF | MBI Research |  Number of pages: 140 | Code: MBI-3930236

Small Launch Vehicle Market Size, Share, Growth & Demand Analysis Report By Platform (Sea, Land, Air, Balloon) By Propellant (Hybrid, Solid, Liquid) By End-User (Government, Defense, Commercial and Academics) Forecast Period 2022-2030

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Market Overview:

The Global Small Launch Vehicle Market size was valued at USD 1.5 billion in 2021 and is projected to register a valuation of USD 4.3 billion by 2030, at a Compound Annual Growth Rate CAGR of 13.5% over the forecast period 2022-2030. Growing demand for high-speed internet and better connectivity which has led to rising demand for satellite mega-constellations, is driving the growth of the market.

A small launch vehicle (SLV) refers to a launch vehicle (rocket) that can carry a maximum payload of 2,200 kg in a single mission, either dedicated or rideshare. Since the mid-1950s, small-lift launch vehicles have been in development and operation around the world. The SLV market witnessed exponential growth due to the increase in the number of SLV manufacturers and launch service providers. The increasing number of satellite constellations for applications such as technology development, communications, earth observation, and remote sensing is projected to be the major driving factor for the growth of the SLV market.

Covid-19 Impact Analysis:

The outbreak of COVID-19 and the subsequent extent of the lockdown have impacted the small launch vehicle market across the globe. As the Covid-19 crisis continues, many global industrial manufacturing companies are facing challenging times, including production shutdowns, transportation, supply chain disruptions, cost increases, and workforce disruptions, which negatively impact the global small launch vehicle industry in terms of revenue.

Driving Factors:

Rising government spending on space programs and growth in space diplomacy is expected to support the market's revenue growth. The growth of the small launch vehicle market is increasing due to the development of efficient components, which can enhance the affordability of small launch vehicles. Some other factor driving the market is the development of efficient launch vehicle components, which can enhance the affordability of small launch vehicles.

Key Market Players:

  • 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

Market Segmentation:

The global small launch vehicle market is segmented by platform type, by propulsion, end-use, and region.

By Platform

On the basis of platform type, the market is segmented into sea, land, air, and balloon.

Sea-based launches are advantageous because of their ability to launch directly from the equator, making maximum use of the Earth's rotation, thus increasing the apogee capability during spacecraft launch.

By Propellant

On the basis of propellant, the market is segmented into hybrid, solid, and liquid.

The liquid segment is expected to boost during the forecast period. In a liquid propellant launch vehicle, fuel and oxidizer are placed in separate tanks and supplied through a system of turbo pumps, valves, and pipes to a combustion chamber to generate thrust.

By End-User

On the basis of end-use, the market is segmented into government, defense, commercial, and academics.

The commercial segment is projected to register the fastest growth during the forecast period. The increasing use of small satellites for commercial purposes is driving the demand for small launch vehicles to reduce the financial risks associated with malfunction or damage.

Regional Analysis:

The global small launch vehicle market is categorized into regions such as Latin America, North America, Europe, Asia-pacific, the Middle East, and Africa.

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.  China contributes the majority of its share to the market growth in the Asia-Pacific region due to the presence of major market players such as Galactic Energy (Beijing) Space Technology Co., Ltd., and China Aerospace Science and Technology Corporation (CASC); Galactic has launched over 30 successful SLVs per year.

Report Coverage: 

Market Segmentation:

By Platform Type

  • Sea
  • Land
  • Air
  • Balloon

By Propellant

  • Hybrid
  • Solid
  • Liquid

By End-User

  • Government
  • Defense
  • Commercial
  • Academics

By Region

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Paciifc-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa



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