Global Small Launch Vehicle (SLV) Market Anticipated to Reach $7.65 Billion by 2030, Reports BIS Research

Global Small Launch Vehicle (SLV) Market Anticipated to Reach $7.65 Billion by 2030, Reports BIS Research

PR Newswire

FREMONT, Calif., Sept. 3, 2020

FREMONT, Calif., Sept. 3, 2020 /PRNewswire/ -- The Global Small Launch Vehicle (SLV) Market is projected to reach $7.65 billion by 2030, reveals a premium market intelligence study by BIS Research. The study also highlights that the market is set to witness a CAGR of 24.36% during the forecast period, 2020-2030.

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The small launch vehicle (SLV) is used for launching payload consisting of lightweight satellite/payloads into various orbits. The rise in deployment of small and microsatellites for multiple commercial, academic, and military applications into low earth orbit (LEO) has spurred demand for dedicated launches though SLVs. In addition, reduction in overall launch costs through major global sites, and the increasing usage of advanced manufacturing technologies to develop lightweight components and reusable launch vehicles are some of the other factors which are expected to create lucrative opportunities for the global SLV market in the next decade.

According to Nilopal Ojha, Lead Analyst at BIS Research, "The rising demand for small satellite constellation across various end users, such as commercial, academic, military, and government, is forcing the SLV manufacturers to develop products with more advanced technologies. Moreover, a significant increase in investment by leading companies and large space organizations to develop advanced manufacturing capabilities for providing affordable launch services is expected to boost the growth of the market during the forecast period."

Browse market Data Tables and Figures spread through 224 Pages, and in-depth TOC on "Global Small Launch Vehicle (SLV) Market".

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View the Report from BIS Research - Global Small Launch Vehicle (SLV) Market - Analysis and Forecast, 2020-2030

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