Commercial Satellite Launch Service Market - Growth Prospects and Future Scenario by Key Vendors to 2026

Europe commercial satellite launch service market garnered more than US$1 billion in 2019 and is estimated to grow at a CAGR of over 6% through 2026. Institutional and research organizations in European countries have been introducing numerous initiatives to boost the development of micro launcher related technologies.

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Meanwhile, other firms have been looking to collaborate with non-tech commercial companies to enhance their commercial satellite launch service market competency. In November 2018, Amazon had announced a strategic partnership with Lockheed Martin for the provision of ground station services for satellite startups. The strategic alliance between the companies allowed them to advance their technological developments and expand their market presence.

The global commercial satellite launch service market size will be worth more than US$9 billion by 2026, growing at a robust CAGR of 7%. This growth can be largely attributed to active investments from respective governments to promote research, design, and developments of commercial satellites.

The deployment of commercial satellites gained considerable momentum over the past decades. Leading communication satellite companies around the world have been investing substantially in establishing a range of SATCOM satellites in the low earth orbit (LEO). These companies have also been focusing on the development retrievable rocket technology with improved operational efficiency.

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Medium-size commercial satellites have witnessed a significant demand from the International Space Station (ISS) in recent years to facilitate their space operations. For instance, Space Exploration Technologies Corporation had launched the Commercial Resupply Services mission (CRS-16) in December 2018 to launch medium-size commercial satellites with 5,600 pounds of supplies and payloads. Considering the size of the satellite, medium segment accounted for over 40% of revenue share for the commercial satellite launch service market during 2019.

In terms of the earth orbit, MEO segment in commercial satellite launch service market is projected to reach a valuation of US$600 million by 2026, expanding at a healthy 7% CAGR. The growth can be mainly attributed to a growing need to establish a comprehensive communications network in the outer space. Prominent companies in the industry are exploring collaboration opportunities with telecom service providers to gain a competitive advantage. Citing an instance, SpaceX had partnered with SES for the launch of seven next-generation low-latency satellite constellation in the MEO.

Commercial satellites are deployed for a variety of application such as weather forecasting, remote sensing, navigational communication, and reconnaissance. Commercial weather forecasting satellite providers are focusing on delivery of efficient services for aerospace, marine, and commercial transportation applications. Their demand across weather forecasting applications accounted for 20% commercial satellite launch service market share in 2019 and will grow at 6% CAGR through 2026. Weather satellites transmit weather and climate data which is then used to forecast weather updates in real-time based on existing climatic conditions in a region.

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In October 2016, the European Commission had announced initiatives to support research and innovation and to improve its ability to anticipate and adapt to ongoing changes in the commercial satellite launch service market such as reusability. The initiative aided in the design and development of innovative commercial satellite technologies and launch sites. The demand for commercial satellite launch services across North America is anticipated to grow at 7% by 2026. The presence of renowned market players in the region is influencing the regional growth.

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