GEO orbit dominated the satellite launch vehicle market revenue accounting for over USD 1.3 billion in 2017. It does not require reorientation after the launch and follow a specified path and distance from earth. These are extensively used in homeland security, environmental data and intensive observation data analysis. It offers low-cost communication, reliable transmission and low maintenance as compared to other satellites.
Satellite launch vehicle market size from commercial satellites will witness a CAGR of 3% over 2018-2024, owing to the increasing requirements of these satellites in end-use industries such as earth observation, mineral & energy exploration, electronics, military, and telecom. The surge in the number of launchers incorporated with built-in automated navigation systems that are highly beneficial in the event of communication failure will positively influence the satellite launch vehicle industry share from commercial launch activities.
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Asia Pacific satellite launch vehicle market accounted for over 37% of the market share in 2017. Increasing focus on establishing indigenous space research programs and integration of modern communicative technologies in critical fields such as military, science and government services will drive the regional growth.
The rising availability of disposable income amongst the urban population has prompted the usage of mobile phones and navigation devices. Escalating use of the internet, VoIP, online digital payment services and IoT are playing a key role in the enhancement of communication. Reportedly, in 2018, the number of internet users has risen by 7% y-o-y to 4.022 billion, social media users by 13% to 3.196 billion and mobile phone users up by 4% to 5.135 billion globally. Growing connectivity requirement through radio, TV, as well as telecommunication mediums will drive the deployment of communication satellites, thereby propelling the satellite launch vehicle market over 2018-2024.
Prominent players in the satellite launch vehicle market include Boeing Space & Communication, E Prime Aerospace, Lockheed Martin, SpaceX, Virgin Galactic, ISRO, Mitsubishi Heavy Industries, ARCA Space, Kelly Space & Technology and Blue Origin. Joint ventures, partnerships and long-term agreements with Government and private organizations for launch and testing are the key strategies adopted by these players to strengthen their market presence.
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Glimpse of Table of Content (ToC): –
Chapter 5. Satellite Launch Vehicle Market, By Number of Payloads
5.1. SLV market share by number of payloads, 2017 & 2024
5.2. Primary only
5.2.1. Market estimates and forecast, 2013-2024
5.2.2. Market estimates and forecast, by region, 2013-2024
5.3. 2 to 5
5.3.1. Market estimates and forecast, 2013-2024
5.3.2. Market estimates and forecast, by region, 2013-2024
5.4. 6 to 10
5.4.1. Market estimates and forecast, 2013-2024
5.4.2. Market estimates and forecast, by region, 2013-2024
Chapter 6. SLV Market, By Launch Activity
6.1. SLV market share by launch activity, 2017 & 2024
6.2.1. Market estimates and forecast, 2013-2024
6.2.2. Market estimates and forecast, by region, 2013-2024
6.3.1. Market estimates and forecast, 2013-2024
6.3.2. Market estimates and forecast, by region, 2013-2024
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