Global Small Launch Vehicle (SLV) Market Size and Top Key Players
A small launch vehicle (SLV) refers to a launch vehicle (rocket) that can carry a payload of a maximum of 2,200 Kg to low Earth orbit (LEO) in a single mission, either dedicated or rideshare. Since the middle of the 1950s, small lift launch vehicles have been in development and operation across the globe.
Read Report Overview: Small Launch Vehicle Market
After 2014, the SLV market witnessed exponential growth due to an increase in the number of SLV manufacturers and launch service providers. The increasing number of satellite constellations for applications such as communication, technology development, Earth observation, and remote sensing is expected to be the major driving factor for SLV market growth.
As of February 2022, there were 17 operational small lift launch vehicles and 99 small launch vehicles under development.
Global Small Launch Vehicle (SLV) Industry Overview
The global small launch vehicle market is expected to reach $4,624.0 million by 2032, with a CAGR of 13.34% during the forecast period 2022-2032. The use of small satellites for several applications such as Earth observation, communication, and space exploration is expected to drive the growth of the SLV market.
Several programs such as Airborne Launch Assist Space Access (ALASA) are organized for developing an affordable method for launching small satellites. In addition, with rigorous testing of new technologies and research and development work, ALASA is expected to introduce small launch systems to provide more reasonable, routine, and reliable access to space in less than $1 million per launch.
Asia-Pacific to Dominate the Global Small Launch Vehicle (SLV) Market
In 2021, the contribution of Asia-Pacific was valued at XX million. The region is expected to reach XX million by the end of 2032. The market growth is attributed to presence of countries such as China, India, and Japan. The countries are increasingly developing, testing, and launching SLVs to increase the number of small satellites in LEO. Key market players such as China Aerospace Science and Technology Corporation (CASC), Indian Space Research Organisation (ISRO), Japan Aerospace Exploration Agency (JAXA) are launching SLVs every year. Emerging market players such as Agnikul Cosmos and Skyroot Aerospace are about to launch SLV in 2022. Other countries such as Malaysia and South Korea are also working on developing SLV to launch small satellites into LEO for various applications such as Earth observation, navigation, and communication.
Key Market Players and Competition Synopsis
The companies profiled in the report have been selected post-in-depth interviews with experts and understanding details around companies such as product portfolios, annual revenues, market penetration, research and development initiatives, and domestic and international presence in the small launch vehicle market.
Request For Sample: https://bisresearch.com/requestsample?id=1272&type=download
Some key players in the global small launch vehicle (SLV) market include Arianespace, Astra Space, Inc., Northrop Grumman, Rocket Lab USA, Inc., ABL Space Systems, Blue Origin, Firefly Aerospace Inc., China Aerospace Science and Technology Corporation (CASC), and Interorbital Systems among others.
