PUBLISHER: The Business Research Company | PRODUCT CODE: 1428099
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428099
The commercial satellite launch service encompasses the specialized offerings provided by entities dedicated to launching satellites into space for commercial purposes. These service providers possess the requisite expertise, infrastructure, and resources essential for effectively transporting satellites from Earth to their designated orbits in space, thereby ensuring successful space missions.
These services cater to various orbits crucial for satellite deployment, such as low-earth orbit (LEO), medium earth orbit (MEO), geosynchronous orbit (GEO), and highly elliptical orbit (HEO). Low earth orbit is the closest to the Earth's surface, spanning altitudes from 160km to 1000km, enabling commercial space operations that facilitate navigation improvements, weather tracking, telecommunications, and other related functions. Satellites come in different sizes-large, medium, small, and micro-serving diverse purposes such as navigation, communication, reconnaissance, weather forecasting, and remote sensing.
The commercial satellite launch service market research report is one of a series of new reports from The Business Research Company that provides commercial satellite launch service market statistics, including commercial satellite launch service industry global market size, regional shares, competitors with a commercial satellite launch service market share, detailed commercial satellite launch service market segments, market trends and opportunities, and any further data you may need to thrive in the commercial satellite launch service industry. This commercial satellite launch service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 historical growth in this sector was driven by a surge in demand for satellite constellations, the proliferation of communication satellite deployments, an expansion in remote sensing and earth observation initiatives, the emergence and growth of the small satellite market, as well as the global upswing 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 forecasted growth is expected to be driven by the ongoing expansion of satellite broadband services, a significant increase in demand for on-demand launch services, the burgeoning space tourism industry, rapid deployment of next-generation satellites, and the emergence of small launch service providers. Key trends anticipated in this period encompass collaboration and partnerships, the commercialization of heavy-lift launch vehicles, flexible launch options tailored for ride-share missions, technological advancements in launch vehicles, and a heightened focus on environmental sustainability.
The escalating demand for commercial satellites is anticipated to propel the expansion of the commercial satellite launch service market. Commercial satellites, owned and operated by private enterprises, are integral for various applications, necessitating reliable launch services. The commercial satellite launch service sector encompasses pre-launch and post-launch services, including management, integration, logistics, telemetry support, and cargo services. Arianespace SA, a leading French aerospace company providing commercial launch services, reported revenues exceeding 1.25 billion euros ($1.36 billion), marking a substantial 30% increase from 2020. With a backlog of 36 releases and 22 more scheduled for 2021, the company reflects the surging demand for commercial satellites. Additionally, in 2020, approximately 114 launches deployed 1,300 satellites into space, with expectations for continued growth. Hence, the increasing demand for commercial satellites is a driving force behind the commercial satellite launch service market.
Government initiatives dedicated to satellite projects are poised to be a significant driver for the growth of the commercial satellite launch service market. These initiatives involve strategic programs and actions by government agencies to develop, launch, and manage satellites, contributing to the advancement of space exploration and technology. Government support enhances the commercial satellite launch services sector by fostering demand, promoting technological innovation, establishing essential infrastructure, defining regulatory frameworks, and encouraging international collaboration. For instance, NASA's budget, the U.S.-based space research agency, witnessed a 3.3% increase to $24.04 billion in 2022 from the 2021 budget of $23.271 billion. This follows a 2.9% increase in the 2021 budget compared to the previous year, amounting to $22.6 billion. Consequently, government initiatives for satellite projects emerge as a driving force behind the growth of the commercial satellite launch service market.
Technological advancements are emerging as a prominent trend in the commercial satellite launch service market. Leading companies in this market are dedicating efforts to developing innovative products equipped with advanced technologies, aiming to fortify their market positions. An illustrative example is SpinLaunch, a U.S.-based spaceflight technology development company, which introduced a sub-orbital accelerator in October 2021. This unconventional launching system utilizes kinetic energy, relying on a vacuum-sealed centrifuge to spin the rocket at multiple times the speed of sound before releasing it, resulting in minimal power consumption.
A strategic focus among major players in the commercial satellite launch service market is the development of reusable rockets. Reusable rockets are designed for recovery and reuse across multiple spaceflights, offering cost-effective and sustainable solutions. For instance, in December 2023, LandSpace Technology, a China-based rocket startup, achieved a significant milestone with the successful launch of Zhuque-2 Y-3. This methane-powered rocket successfully deployed three satellites into orbit, demonstrating the viability of methane as an environmentally friendly rocket fuel. The triumph of Zhuque-2 Y-3 in reaching a 460-km sun-synchronous orbit highlights the growing competition among private Chinese rocket startups striving for a share in the satellite constellation market.
In April 2021, Voyager Space Holdings, a US-based entity specializing in space exploration, successfully acquired The Launch Company for an undisclosed sum. This strategic acquisition of The Launch Company further strengthens Voyager's innovative capabilities, positioning it as a prominent NewSpace exploration platform. The integration of The Launch Company contributes to Voyager's vertical expansion, enhancing its mission capabilities and facilitating the realization of humanity's most ambitious projects. The Launch Company LLC, based in the US, focuses on developing systems, hardware, and processes that expedite NewSpace enterprises' access to orbit.
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.
North America was the largest region in the commercial satellite launch service market in 2023. The regions covered in the commercial satellite launch service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the commercial satellite launch service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The commercial satellite launch service market includes revenues earned by entities providing mission management, pre- and post-launching services, environmental testing, in-space logistics services, payload integration, and launch vehicle assembly. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Commercial Satellite Launch Service Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on commercial satellite launch service market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for commercial satellite launch service ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The commercial satellite launch service market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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