The satellite launch vehicle market is projected to grow from USD 15.7 billion in 2022 to USD 29.1 billion by 2027, at a CAGR of 13.1% during the forecast period from 2022 to 2027. The satellite launch vehicle market has witnessed significant growth in recent years due to the increasing demand for satellite-based services and applications, such as broadband internet, television broadcasting, remote sensing, and global positioning systems. The rise in space-based activities by private companies, such as SpaceX (US) and Blue Origin (US), has also contributed to the growth of the market by introducing innovative technologies and business models
SpaceX (US), United Launch Alliance, LLC (US), Northrop Grumman Corporation (US), Blue Origin (US), and Mitsubishi Heavy Industries (Japan) are some of the leading companies in the satellite launch vehicle market. To strengthen their position in this market, these companies have implemented a variety of growth strategies which include new product developments, contracts, collaborations, expansions, certifications, agreements, acquisitions, and R&D activities.
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Space Exploration Technologies Corp. (SpaceX)
Space Exploration Technologies Corp. (SpaceX) designs, manufactures, and launches advanced rockets and spacecraft. In 2022, the company had more than 12,000 employees. SpaceX also provides launch services. The company offers light, medium, and heavy lift launch vehicles to place satellites/spacecraft at any altitude and inclination, including the low Earth orbit and geosynchronous orbit. The company offers a family of launch vehicles and satellites. It aims to increase launch vehicle capabilities and reduce the cost of both, manned as well as unmanned space transportation. The company has carried out a total of 206 launches. The company has launch facilities at Cape Canaveral Air Force Station, Florida (US), Kennedy Space Center, Florida (US), and Vandenberg Air Force Base, California (US). It has a rocket-development facility in McGregor, Texas (US).
United Launch Alliance (ULA), legally United Launch Alliance, LLC, is an American spacecraft launch service provider that manufactures and operates a number of rocket vehicles that are capable of launching spacecraft into orbits around Earth, to other bodies in the Solar System, and beyond. The parent organizations of the company are The Boeing Company (US), Lockheed Martin Corporation (US), Lockheed Martin Space (US), and Boeing Defense, Space & Security (US). ULA serves the Department of Defense, NASA, the National Reconnaissance Office, and several other government organizations in the US.
Northrop Grumman Corporation is an American multinational aerospace and defense technology company. The company employed 90,000 people and generated annual revenue in an excess of USD 30 billion in 2021. It is one of the world's largest weapons manufacturers and military technology providers. The company has ranked on the 2022 Fortune 500 list of America's largest corporations. Northrop Grumman Corporation and its industry partners have won the Collier Trophy eight times for the production of solid rocket boosters for NASA's Space Launch System program.
Mitsubishi Heavy Industries is a Japanese multinational engineering, electrical equipment, and electronics corporation. Mitsubishi Heavy Industries is one of the core companies of the Mitsubishi Heavy Industry. Products offered by the company include aerospace and automotive components, air conditioners, elevators, forklift trucks, hydraulic equipment, printing machines, missiles, tanks, power systems, ships, aircraft, railway systems, and space launch vehicles. The Aircraft, Defense, and Space segment covers commercial aircraft, defense aircraft, missile systems, naval ships, special vehicles, maritime systems, and space systems. The customers of the company include Inmarsat (United Kingdom), Tanegashima Space Centre (Japan), and Mohammed Bin Rashid Space Centre (MBRSC) (United Arab Emirates).
Blue Origin is an American privately-funded aerospace manufacturer and sub-orbital spaceflight services company that aims to make access to space cheaper and more reliable through reusable launch vehicles. Blue Origin is employing an incremental approach for suborbital and orbital flight. The company employed 6,000 people in 2022. Blue Origin develops orbital technology, rocket-powered vertical take-off vehicles, and vertical landing vehicles for access to suborbital and orbital space. Initially focused on suborbital spaceflight, the company has designed, built, and flown multiple testbeds.
Satellite Launch Vehicle Market by Vehicle (Small (<350,000 Kg), Medium to Heavy (>350,000 Kg)), Payload (<500 Kg, 500-2,500 Kg, >2,500 Kg), Orbit, Launch, Stage, Subsystem, Service and Region - Global Forecast to 2027
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