The satellite launch vehicles (SLV) market is expected to witness significant growth, owing to the rising number of satellites launches for discovering advancement opportunities in fields like science, R&D, communication, and navigation. Increasing investment to uplift space exploration programs primarily in developed countries should escalate industry growth in the coming years.
As per the Council on Foreign Relations, the U.S government had approved nearly US$23 billion for NASA under the financial budget of 2021. Such whopping expenditure to boost space exploration should augment satellite launch vehicle demand to a large extent.
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According to recent figures provided by UNOOSA, a total of 4,635 satellites were orbiting the earth as of January 2018, with a record 357 satellites launched in 2017 itself. However, it is reported that only 37.5% of these satellites are currently active, indicating the high probability of new satellites to be put into space and the prospective benefits that exist for the satellite launch vehicle (SLV) market. Majority of these satellites are for communication or earth observation and it is noted that most of the European countries operate at least one satellite. Russia boasts of owing nearly 142 satellites itself, with industry reports suggesting that the country has a number of satellite programs in the works. France, after launching its first satellite in 1965, has also emerged as a prominent name in the global market.
To elaborate, French multinational company Arianespace, the world’s first provider of commercial launch services, had launched the heaviest ever payload into Geosynchronous Transfer Orbit (GTO) in June 2017, transporting a combined weight of 9,968 Kgs of the Eutelsat 172B and ViaSat 2 satellites. Signifying a major contribution by France towards the consolidated satellite launch vehicle (SLV) market, the launch proved the capabilities of efficient and advanced SLVs in making vital technology services available from hundreds of kilometers above the earth surface. Even space organizations from other countries extensively employ the services of Arianespace to launch satellites at costs they can afford, instead of putting in time and resources to build specific SLV themselves.
The Indian Space Research Organization (ISRO) recently confirmed that it has opted for the services of Arianespace for launching its GSAT-30 and GSAT-31 communication satellites, which are to replace other operating satellites used for providing crucial national services. The satellites, scheduled to be launched near 2018 end in separate missions from the Guiana Space center, will be the 23rd and 24th ISRO satellites put into the orbit by Arianespace. The strong partnership displayed between ISRO and the French company represent the profitable relations of the Europe satellite launch vehicle market with rest of the world, including the developing economies. The existence of several telecommunication satellite programs in the U.K. and other European countries will further generate substantial revenues for the commercial satellite launch vehicle (SLV) market.
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Asia Pacific satellite launch vehicle (SLV) market held over 37% share of the global market in 2017. The regional industry growth should be driven by the rising necessity to introduce space research programs and incorporate sophisticated communicative technologies in important fields such as science, military, and government services. For example, countries like India and China are leveraging various satellite launch services in a bid to secure their geopolitical and economic interests. Such initiatives are likely to enhance competitiveness in their space technologies and foster business growth in the region.
Leading companies in satellite launch vehicle (SLV) market worldwide are Blue Origin, SpaceX, Lockheed Martin, ISRO, Virgin Galactic, ARCA Space, Mitsubishi Heavy Industries, Kelly Space & Technology, E Prime Aerospace, and Boeing Space & Communication.
Major Key Points from Table of Content:
Chapter 4. Satellite Launch Vehicle (SLV) Market, By Orbit
4.1. Satellite launch vehicle (SLV) market share by orbit, 2017 & 2024
4.2.1. Market estimates and forecast, 2013-2024
4.2.2. Market estimates and forecast, by region, 2013-2024
4.3.1. Market estimates and forecast, 2013-2024
4.3.2. Market estimates and forecast, by region, 2013-2024
4.4.1. Market estimates and forecast, 2013-2024
4.4.2. Market estimates and forecast, by region, 2013-2024
4.5.1. Market estimates and forecast, 2013-2024
4.5.2. Market estimates and forecast, by region, 2013-2024
Chapter 5. Satellite Launch Vehicle (SLV) Market, By Number of Payloads
5.1. Market share by number of payloads, 2017 & 2024
5.2. Primary only
5.2.1. Market estimates and forecast, 2013-2024
5.2.2. Market estimates and forecast, by region, 2013-2024
5.3. 2 to 5
5.3.1. Market estimates and forecast, 2013-2024
5.3.2. Market estimates and forecast, by region, 2013-2024
5.4. 6 to 10
5.4.1. Market estimates and forecast, 2013-2024
5.4.2. Market estimates and forecast, by region, 2013-2024
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