Mon. Oct 2nd, 2023
Satellite Launch Vehicle Market Insights 2023

The global Satellite Launch Vehicle market is projected to be promising in the next five years, with an estimated growth rate of 2.4% during the forecast period of 2023-2030. The market size was valued at USD 1862.2 million in 2023 and is expected to reach USD 2146.9 million by 2030.

The market is segmented based on applications and types. The applications include civil satellite launch and military satellite launch. The types of satellite launch vehicles are categorized as partially reusable and fully reusable.

North America has dominated the market in 2017 and is expected to continue its dominance throughout the forecast period. In terms of global leadership, there are key players in the market, both for partially reusable and fully reusable satellite launch vehicles.

The COVID-19 pandemic and the Russia-Ukraine conflict have had an impact on the market. However, the market is expected to recover with strategic initiatives from industry players.

The growth of the satellite launch vehicle market is fueled by the increasing global demand for various applications. The market shows strong potential for substantial growth, with a projected Compound Annual Growth Rate (CAGR) from 2023 to 2030.

The market report provides insights into the factors influencing the growth trajectory of the satellite launch vehicle market. It also evaluates market structure, projections, and opportunities for the future.

Overall, the satellite launch vehicle market is expected to grow significantly in the coming years, driven by technological advancements and increasing demand for satellite launches.