FREMONT, California, December 7, 2018
FREMONT, California, December 7, 2018 /PRNewswire/ --
According to a new market intelligence report by BIS Research titled, 'Global Small Launch Vehicle Market, Analysis and Forecast, 2018 - 2028', the small launch vehicle (SLV) market was estimated at $341.2 million in 2017 and is expected to reach $6.9 billion by 2028, growing at a CAGR of 30.51%. The growth of the SLV market is aided by the increase in the deployment of small satellite for commercial end users, the surge in demand for small satellite constellations, and the significant increase in investments by large space organizations in developing SLVs. Recent innovations in components and services have enabled the SLV technology to reach to a wider segment of consumers in the industry.
Browse 17 market Data Tables and 114 Figures spread through 186 Pages, and in-depth TOC on "Global Small Launch Vehicle Market"
The introduction of SLVs is unprecedented and is anticipated to bring about radical changes in the satellite launch service business. Due to ongoing efforts of industry players to develop high-end launch solutions for space missions, the SLV market is anticipated to grow at a rapid pace. Furthermore, given the huge potential of SLVs in terms of providing cost-effective and faster launch solution, it is expected that the market will observe a larger number of key strategic developments during the forecast period from 2018 to 2028.
According to Vaishali Sharma, analyst at BIS Research, "the region of Asia-Pacific is currently dominating the small launch vehicle market. However, the geographical analysis of this market unveils a great potential for its growth in North America. According to the analysis, the presence of emerging economies, particularly the U.S. and China, is majorly contributing to the growth of the market."
BIS Research Report: https://bisresearch.com/industry-report/small-launch-vehicle-market.html
The SLV market is expected to witness a high growth rate owing to the surge in demand for small satellite constellations, and the significant increase in investments by large space organizations in developing SLVs. Moreover, development of SLVs can help in overcoming the challenges faced by small satellite operators to launch their satellites.
According to Mr. Francisco García, Head of Mission & Operations Department, PLD Space, "The major challenge for small satellite manufacturers is the long waiting time for the launch of their satellite along with heavy satellites. Furthermore, they have to rely on scheduling of the primary space mission, thus, causing unnecessary delays. Small satellites being launched as secondary payload on medium to heavy launch vehicles have relatively limited opportunities due to lack of control on the launch schedule and destination orbit of the vehicle. Therefore, demand for development of SLVs dedicated for launching small satellites is escalating. Going ahead, we can witness huge demand for satellites in the range of 30 to 60 kg weight compared to 10kg satellites and will emerge as a huge business for SLV operators. Furthermore, SLVs (especially micro launchers) will play an important role in the upcoming mega-constellations with satellites in the range of 100 to 200 kg, especially when they are related to the frame of constellation replenishment."
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The market report on SLVs provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and technological developments. It also includes a competitive analysis of the leading players in the industry, corporate overview, financial summary, and SWOT analysis. The overall market has been segmented into end user, payload range, and region. Defense, academic, commercial, government, and non-profit organizations are covered as parts of the end user segmentation in the present study. Wherein, the report includes < 20 kg, 20 kg - 150 kg, 151 kg - 500 kg, 501 kg - 1,200 kg, and 1,201 kg - 2,200 kg as the payload range. The 1,201 kg - 2,200 kg payload range has been categorized as part of small launch vehicle market by payload analysis.
The advancements in space technology have led the key manufacturers to build advanced small launch vehicles that are highly cost-effective, and less complex. Arianespace, CubeCab, IHI Corporation, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Mitsubishi Heavy Industries, Ltd., Orbital ATK, Inc., Rocket Lab USA, Inc., Space Exploration Technologies Corp., and The Boeing Company are some of the leading producers that use advanced space technologies in small launch vehicles.
Key questions answered in the report:
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
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