Pune, India, April 05, 2023 (GLOBE NEWSWIRE) -- The global reusable launch vehicle market size was valued at USD 1.61 billion in 2022 and is projected to grow from USD 1.94 billion in 2023 to USD 5.41 billion by 2030, exhibiting a CAGR of 15.77%. Reusable Launch Vehicles (RLVs) are space launch systems that enable partial or complete rocket stage recovery following satellite delivery into orbit. An RLV aims to reduce the cost of single-stage and multi-stage satellite launches by recovering used vital systems and components.
In order to launch its Star link internet satellites and other communication, navigation, and earth observation satellites, SpaceX is currently designing and building the RLV. Blue Origin LLC also develops and designs heavy-lift RLVs. By the end of 2022, the two- and three-stage reusable launch vehicles for the rockets will be commercially available. Fortune Business Insights presents this information in their report titled "Global Reusable Launch Vehicle Market, 2023–2030."
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List of Key Players Profiled in the Report
- ArianeGroup (France)
- Blue Origin LLC (U.S.)
- Lockheed Martin Corporation (U.S.)
- National Aeronautics and Space Administration (NASA) (U.S.)
- Rocket Labs USA (U.S.)
- Space Exploration Technologies Corp. (SpaceX) (U.S.)
- The Boeing Company (U.S.)
- The Spaceship Company (U.S.)
- United Launch Alliance (ULA) (U. S.)
- European Space Agency (France)
- Indian Space Research Organisation (India)
- Israel Space Agency (Israel)
- Italian Space Agency (Italy)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 15.77%. |
| 2030Value Projection | USD 5.41 Billion |
| Base Year | 2022 |
| Historical Data | 2019-2021 |
| No. of Pages | 180 |
| Segments Covered | By Orbit Type, By Payload |
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COVID-19 Impact:
Satellite Launches Delayed Due to the Pandemic Caused Negative Market Growth
The market was significantly impacted by the COVID-19 pandemic. Globally, the pandemic's effects on the market in 2020 and 2021 were felt. A number of rocket launches were scheduled for 2021 and 2022. Small and medium-sized businesses have been badly impacted by supply chain and financial market disruptions.
Additionally, COVID-19 had an effect on the space industry, causing satellite launches to be halted or delayed. The production system for satellites and launch vehicles is being redesigned by large corporations such as SpaceX, ISRO, and other space agencies. In accordance with COVID-19, businesses are putting safety standards into practice to protect their personnel.
Segments:
Anticipated Launch of Several Satellites in Low Earth Orbit to Push the Segment Growth
By orbit type, the market is divided into Geosynchronous Transfer Orbit (GTO), Low Earth Orbit (LEO), and others. The number of small satellites and earth observation satellites being launched into orbit has increased, and in 2019, the LEO sector accounted for 62.33% of the market. It is also anticipated that during the duration of the forecast period, this category will grow quickly. SpaceX Starlink intends to launch 12,000 broadband satellites into low earth orbit during the next five years.
Rising Usage of High Payload Rockets to Drive Market Expansion
Based on payload, the market is classified into upto 5,000 kg, 5,000 to 10,000 kg, and over 10,000 kg.
The over 10,000 kg segment will rule the market due to the rising usage of high payload rockets and extensive number of space programs by SpaceX and other organizations. Additionally, the leading players' increased investment activity serves as a driver to accelerate market expansion.
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Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights-Impact of COVID-19 Pandemic on Global Reusable Launch Vehicle Market
- Impact of COVID-19 Pandemic on Global Reusable Launch Vehicle Market
- Steps Taken by Industry/Companies/Government to Overcome the Impact
- Key Development in the industry in Response to COVID-19 Pandemic
- Global Reusable Launch Vehicle Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Definitions
- Market Analysis, Insights and Forecast – By Orbit Type
- Low Earth Orbit (LEO)
- Geosynchronous Transfer Orbit (GTO)
- Market Analysis, Insights and Forecast – By Payload Weight
- Upto 5000 kg
- 5000 to 10000 kg
- Over 10000 kg
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
TOC Continued…!
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Drivers & Restraints:
Government Investments in R&D in the Space Sector to Drive Market
The government's investments in start-ups and research and development are considered a way to address social impacts and be free from imports, with an aim toward being a provider worldwide for a variety of fields, including space. Governments across the globe have acknowledged that the development of venture capital sectors is not as good as the ones in the U.S. and therefore does not receive ample Venture Capital (VC) funding.
On the contrary, satellites providing internet and intelligence and longstanding international relations in space are rapidly changing due to the invasion of Ukraine by Russia, which may impede reusable launch vehicle market growth.
Regional Insights
North America Dominates the Market Due to Space Exploration Operations
In 2022, North America commanded the reusable launch vehicle market share, with a value of USD 0.98 billion. The government's funding allocation for space exploration operations and the rise in the number of different space missions are the causes of the increased market share. Additionally, NASA was given USD 23 million by the U.S. Congress for a variety of space missions and operations in the 2021 fiscal year. Furthermore, the market is fueled by the presence of major players such as Moog Inc. (U.S), Ball Corporation (U.S.), Busek Co. Inc. (U.S.), Cobham Limited (U.S.), Blue Origin (U.S.), and SpaceX (U.S.).
Competitive Landscape
Businesses Concentrate on Affordable Reusable Launch Vehicle Technologies
Major players are concentrating on the creation of sophisticated and affordable reusable launch vehicle technologies. Several OEMs are creating cutting-edge hardware and software systems to streamline the process. Additionally, businesses are always looking to collaborate with leading businesses in both developed and emerging markets.
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Key Industry Development:
In December 2021- United Launch Alliance (ULA) signed a contract with Wichita, Kan.-based Maynard Inc. to supply components for its Atlas V rocket. The Atlas V rocket has successfully launched 90 payloads for the US military, NASA, and commercial clients.
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