The global US reusable launch vehicle market size is projected to reach USD 1,634.9 million by the end of 2027. The increasing demand for low-cost satellite programs will have a direct impact on the growth of the market. According to a report published by Fortune Business Insights, titled “The U.S. Reusable Launch Vehicle Market Size, Share & Industry Analysis, By Type (Partially Reusable, Fully Reusable), By Stage (Single Stage and Multi Multi-Stage), By Orbit Type (Low Earth Orbit (LEO), and Geosynchronous Transfer Orbit (GTO)), and Country Forecast, 2020-2027,” the market was worth USD 482.4 million in 2019 and will exhibit a CAGR of 14.77% during the forecast period 2020-2027.
A reusable launch vehicle (RLV) is a type of vehicle that can help a satellite or payload lift off into space. The vehicle makes use of several modern concepts and its ultimate aim is to reduce the massive costs that are incurred for launching satellites. The RLV has the ability to recover and re-use all components of the system. Recent advances in RLV by private as well as government space organizations such as NASA will have a massive impact on the growth of the US reusable launch vehicle market in the coming years. The presence of several large scale companies in this market, coupled with the increasing adoption of reusable vehicles by companies such as Tesla (SpaceX), will bode well for the growth of the regional market in the foreseeable future.
Delays in Proposed Satellite Launches during the Covid-19 Pandemic to have a Negative Impact on the Market
The recent coronavirus outbreak has had a negative impact on several industries across the world. As most businesses have been compelled to shut down, it has become difficult to operate in a constrained environment. The rising Covid-19 cases in the United States, has not only affected the economy, but has also resulted in an increase in the unemployment rate. Several companies had lined up respective space launches in the year 2020, but with limited manpower and confined budgets, these satellite programs have been delayed.
List of companies profiled in the report:
- ArianeGroup (Paris, France)
- Blue Origin LLC (Washington, The U.S.)
- Lockheed Martin Corporation (Maryland, The U.S.)
- Masten Space Systems (California, The U.S.)
- National Aeronautics and Space Administration (NASA) (Washington, The U.S.)
- Rocket Labs USA (California, The U.S.)
- Space Exploration Technologies Corp. (Space X) (California, The U.S.)
- The Boeing Company (Illinois, the U.S.)
- The Spaceship Company (California, The U.S.)
- United Launch Alliance (ULA) (Colorado, the U. S.)
- Other Players
Browse In-depth Summary of This Research Insight:
https://www.fortunebusinessinsights.com/us-reusable-launch-vehicle-market-102005
