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Small Launch Vehicle (Slv) Market: Information by Payload (Satellite, Human, Cargo), Launch Platform (Land, Air), Service Type (Pre- Launch, Post- Launch), and Region — Forecast till 2030

Published At : 29 Jul, 2022
Updated At : 30 Jul, 2022
Market Snapshot
Base Year:
2021
Study Period:
2020-2030
CAGR:
13.5 %
Fastest Growing Market:
North America
Largest Market:
Asia Pacific

The global small launch vehicle market size was valued at USD 1.03 billion in 2021 and is projected to reach USD 3.22 billion by 2030 at a CAGR of 13.50% from 2022 to 2030. Small launch vehicles (SLVs) are defined as those with a payload capacity of less than 2,200 kg, which are primarily developed and intended for the small satellite market. SLVs are distinguished from conventional heavy launch vehicles by the performance of the vehicle, which is dependent on the amount of payload the vehicle can lift to a particular orbit, and the cost of the launch. With the expansion of small satellite capabilities, the space industry is developing strategic utility, thereby motivating various stakeholders, including the government, space agencies, and private companies, to develop small satellite launch vehicles for the next generation.

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Market Dynamics

Market Drivers for the Small Launch Vehicle Market

  • Several Applications of Small Satellites Are Driving the Market

The use of small satellites for a variety of applications, including Earth observation, communication, and space exploration, is anticipated to propel the growth of the SLV market.

Several programs, such as Airborne Launch Assist Space Access (ALASA), are designed to create a cost-effective method for launching small satellites. In addition, through rigorous testing of new technologies and research and development, ALASA is anticipated to introduce small launch systems that will provide more affordable, routine, and reliable access to space for less than $1 million per launch.

  • Latest Technological Developments Are Driving The Market

The SLV market grew exponentially as a result of a rise in the number of SLV manufacturers and launch service providers. The increasing number of satellite constellations for applications such as communication, technology development, Earth observation, and remote sensing is anticipated to be the primary factor propelling the growth of the SLV market.

Due to a rise in the number of SLV manufacturers and launch service providers, the SLV market expanded at an exponential rate. The rising number of satellite constellations for applications such as communication, technology development, Earth observation, and remote sensing is anticipated to be the primary factor propelling the SLV market. Due to the increase in the number of satellite constellations for satellite applications such as remote sensing, navigation, communication, and earth observation, the global SLV market has gained widespread importance. However, the high price of SLVs is one of the factors inhibiting market expansion.

Restraints for Small Launch Vehicle Market

  • High Cost Involved

Although due to the rise in the number of satellite constellations for satellite applications such as remote sensing, navigation, communication, and earth observation, the global SLV market has attained a high level of significance. But, factors related to the high price of SLVs are inhibiting the market's expansion. It is due to this lack of cost-effectiveness that many countries are still not investing in the field of Small Launch Vehicles. Moreover, the uncertainty in the success rate of the space programs also becomes a restraining factor for the Small Launch Vehicle Markets.

Opportunities for the Small Launch Vehicle Market

  • Small Satellites To Surge The Market

The increasing demand from commercial, academic, military, and government end users for small satellite constellations is compelling SLV manufacturers to develop products with more advanced technologies. In addition, a significant increase in investment by leading companies and large space organizations to develop advanced manufacturing capabilities for providing affordable launch services is anticipated to drive market growth during the forecast period. The increasing number of satellite constellations for applications such as communication, technology development, Earth observation, and remote sensing is anticipated to be the primary factor propelling the growth of the SLV market.

 

Segmentation of the Small Launch Vehicle Market

During the period between 2022 and 2030, the global market for small launch vehicles is anticipated to be dominated by solid propulsion technology. This is a result of the high demand for solid propellant rockets, which are much simpler to store and handle during launch.

In payload range segment, the market is segmented into <20kg, 21kg-150kg, 151kg-500kg, 501kg-1,200kg, and 1,200kg-2,200kg. Here the satellite mass market segment is a prominent one. The 501-2,200 kg satellite mass segment holds the largest market share and is anticipated to grow in the coming years due to the increase in the number of small satellite constellations produced by SpaceX, Amazon, Cloud Constellation, Urthecast, and ISRO, among other leading companies.

Over the forecast period, it is anticipated that the commercial end-user will experience tremendous growth. Due to the growing demand for commercial applications such as remote sensing, Earth observation and navigation, surveillance, and satellite internet, it will hold a substantial market share in 2021. This segment's most important project is the satellite internet constellation.

 

Regional Analysis of the Small Launch Vehicle Market

Small Launch Vehicle Market Regional Analysis

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The Asia-Pacific region's contribution to the global market for small launch vehicles held the largest share in 2021. By the end of 2030, it is anticipated that the region will control a sizeable portion of the global market. Due to the presence of key market players such as China Aerospace Science and Technology Corporation (CASC) and Galactic Energy (Beijing) Space Technology Co., LTD., the Chinese market is responsible for the majority of market growth in the Asia-Pacific region. Each year, CASC and Galactic were responsible for more than thirty successful SLV launches.

 

Competitive Landscape

List of Key Companies Profiled in Small Launch Vehicle Market

  • Arianespace
  • Astra Space
  • Northrop Grumman
  • Rocket Lab USA
  • ABL Space Systems
  • Blue Origin
  • Firefly Aerospace Inc.
  • China Aerospace Science and Technology Corporation (CASC)
  • and Interorbital Systems
  • SpaceX
  • Boeing
  • Lockheed Martin Corporation
  • Virgin Orbit

 

Recent Developments

  • On behalf of the European Commission, the European Space Agency (ESA) awarded Arianespace a launch contract in January 2022.
  • Amazon joined forces with ABL Space Systems in November 2021 to launch the first two prototype satellites for its Project Kuiper satellite broadband constellation by the end of 2022. The launch will utilize an RS-1 rocket.
  • Firefly Aerospace Inc. launched its Alpha launch vehicle for the first time in September 2021 from Vandenberg Space Force Base in California.
  • In August of 2021, Gilmour Space Technologies partnered with Exolaunch to sell launch and deployment services to a growing number of small satellite operators utilizing the Eris launch vehicle designed and manufactured by Gilmour.

 

Small Launch Vehicle Market: Segmentation

By Payload

  • Satellite
    • Small satellite (less than 1000 Kg)
    • Large satellite (above 1000 Kg)
  • Human Spacecraft
  • Cargo
  • Testing Probes
  • Stratollite

By Launch Platform

  • Land
  • Air
  • Sea

By Service Type

  • PRE-LAUNCH
  • POST-LAUNCH

By End-User

  • Government & Military
  • Commercial

By Region

  • Asia Pacific (China, Japan, India)
  • North America (United States Of America)
  • Europe (Russia, France, Germany)
  • Latin America, the Middle East and Africa (LAMEA)
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