Press release
Commercial Satellite Launch Service Market is Projected to Reach $10.13 Billion With a CAGR of 6.9% During the Forecast Period 2024-2033
The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033The Business Research Company offers in-depth market insights through Commercial Satellite Launch Service Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The commercial satellite launch service market size has grown strongly in recent years. It will grow from $7.2 billion in 2023 to $7.76 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to increased demand for satellite constellations, rise in communication satellite deployments, expanding remote sensing and earth observation activities, emergence of small satellite market, global growth in space economy and commercialization.
The commercial satellite launch service market size is expected to see strong growth in the next few years. It will grow to $10.13 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to continued expansion of satellite broadband services, surge in demand for on-demand launch services, growth in the space tourism industry, rapid deployment of next-generation satellites, rise of small launch service providers. Major trends in the forecast period include collaboration and partnerships, commercialization of heavy-lift launch vehicles, flexible launch options for ride-share missions, technological advancements in launch vehicles, focus on environmental sustainability.
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Market Segmentation:
The commercial satellite launch service market covered in this report is segmented -
1) By Orbit Type: Low-Earth orbit (LEO), Medium Earth Orbit (MEO), Geosynchronous Orbit (GEO), Highly Elliptical Orbit (HEO)
2) By Size Type: Large, Medium, Small, Micro
3) By Application type: Navigation, Communication, Reconnaissance, Weather Forecasting, Remote Sensing
Major Driver - The Surging Demand For Commercial Satellite Launch Services
Increasing demand for commercial satellites is expected to propel the growth of the commercial satellite launch service market going forward. Commercial satellites are owned, operated, and used by private enterprises or commercial organizations. The commercial satellite launch service is used to improve the capabilities of satellites launched into earth orbit to carry out successful space missions by providing pre-launch and post-launch services such as management services, integration and logistics, cargo services, telemetry support, and others. For instance, according to Arianespace SA, a France-based aerospace company that offers commercial launch services, the company's revenues have surpassed 1.25 billion euros ($1.36 billion), representing a 30% increase over 2020. It has a backlog of 36 releases, with 22 more scheduled for 2021. Furthermore, in September 2021, according to The Conversation, an Australia-based publisher of research-based news and analysis, around 114 launches took place, sending 1,300 satellites into space in the year 2020, and it's expected to rise in the upcoming years. Therefore, the increasing demand for commercial satellites drives the commercial satellite launch service market.
Competitive Landscape:
Major companies operating in the commercial satellite launch service market report are The Boeing Company, Lockheed Martin Corporation, Mitsubishi Heavy Industries Ltd., Northrop Grumman Space Systems Group, Space Exploration Technologies Corporation, Orbital ATK, Antrix Corporation Limited, National Aeronautics and Space Administration, United Launch Alliance, Relativity Space Inc., Firefly Aerospace, Sea Launch, ABL Space Systems, Rocket Factory Augsburg AG, Exodus Space Corp., Virgin Orbit, OneSpace Solutions Inc., Ariane Group, HyImpulse Technologies GmbH, International Launch Services (ILS), GK Launch Services, LinkSpace, Eurockot Launch Service GmbH, Commercial Space Technologies Ltd.(CST), Virgin Galactic,Stofiel Aerospace, Payload Aerospace S.L., CAS Space, COSMOS International, Indian Space Research Organisation.
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Top Trend - The Tech Revolution In Satellite Launch Solutions
Technological advancement is a key trend gaining popularity in the commercial satellite launch service market. Major companies operating in the commercial satellite launch service market are focused on developing innovative products with advanced technologies to strengthen their position in the market. For instance, in October 2021, SpinLaunch, a US-based spaceflight technology development company, introduced a sub-orbital accelerator, an alternative method of launching spacecraft into orbit. This launching system relies on kinetic energy to get the rocket off the ground, with a vacuum-sealed centrifuge spinning it at multiple times the speed of sound before releasing it with minimum power consumption.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Commercial Satellite Launch Service Market Characteristics
3. Commercial Satellite Launch Service Market Trends And Strategies
4. Commercial Satellite Launch Service Market - Macro Economic Scenario
5. Commercial Satellite Launch Service Market Size And Growth
…..
27. Commercial Satellite Launch Service Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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