Market Research Report
Global Launch System Payload Market: Focus on Orbit (GEO, MEO and LEO), Class (Small, Medium and Large Satellites), End Users, Analysis and Forecast 2018-2028
|Published by||BIS Research Inc.||Product code||762878|
|Published||Content info||203 Pages
Delivery time: 1-2 business days
|Global Launch System Payload Market: Focus on Orbit (GEO, MEO and LEO), Class (Small, Medium and Large Satellites), End Users, Analysis and Forecast 2018-2028|
|Published: December 29, 2018||Content info: 203 Pages||
"Global Launch System Payload Market Anticipated to Reach $23.53 Billion by 2028, BIS Research Reports"
The global launch system payload market has exhibited a high growth in the recent past. Many of the launch systems built at the beginning of The Space Age (1950s) - a time period that saw active explorations of space and development in space technologies - were government-led projects specifically. Only in the early 2010s, did the private players emerged in the field of space technology. The launch system payload market has witnessed a high growth rate owing to the growth in the use of satellites for different applications -- such as faster, reliable, and efficient real-time tracking and monitoring system for ships, aircraft, earth observation (EO), and broadband access. The recent innovations in satellite technology have enabled many commercial and academic institutes too, to deploy small satellites. These advanced small satellite hardware subsystems are the result of high capability and feasibility of small packaging in electronic devices. In recent years, the utilization of space has become prominent for both commercial and civil applications. The commercial space sector, in particular, is observing an increase in the number of start-ups developing disruptive technologies for the space industry.
Satellites play a crucial role in enabling services such as communication, navigation, and environmental monitoring for the commercial, military, and government end users. There is an extensive demand for satellites today as there's an increasing need for faster, reliable, and efficient real-time tracking and monitoring system. Consequently, launch vehicles for satellites are an essential aspect of the global space industry, as they carry and place satellites into their assigned positions on the Earth's orbit.
The satellite launch industry is witnessing tremendous growth with many new players entering the market. According to the Federal Aviation Administration (FAA), a US-based regulatory authority for civil aviation, the global launch services were estimated to be around $5.5 billion in 2016 and is expected to grow with the booming space economy.
Global launch system payload market has witnessed a high growth rate owing to the growing demand for satellite launches, specifically satellite constellations (that comprise several small satellites). The global launch system payload market recorded 390 satellite launches in 2017, with more number of small satellite launches in the forecast period.
Global launch system payload market is segmented into four classes, as per the weight of satellites: 1-500 Kg, 501-2,000 Kg, 2,001-5,000 Kg, and 5,001-10,000 Kg. The 1-500 Kg class dominated the global launch system payload market (in terms of the number of satellite launches) in 2017. The increase in the number of satellite constellations which comprise of small satellites, due to a growing need for data connectivity across the globe, is the reason behind 1-500 Kg class of satellites having the largest share in the market. During the forecast period, 1-500 Kg class of satellites is expected to grow at a faster rate in comparison with the other classes.
North America, followed by Asia-Pacific, and Europe is expected to dominate the market during the forecast period (2018-2028). The U. S. is the leading country in the global launch system payload market and is expected to maintain its dominance during the forecast period. Asia-Pacific is expected to grow at the highest CAGR, with China dominating the market in this region. India is likely to grow at a much faster rate as compared to the other countries due to the continuous efforts by both the government and private players in India to advance the space sector.
Some of the key players in the global launch system payload market include: Arianespace, Blue Origin, EUROCKOT Launch Services GmbH, China Aerospace Science and Technology Corporation, International Launch Services, Interorbital Systems, Mitsubishi Heavy Industries, Northrop Grumman Innovation Systems, Rocket Lab USA, Inc., Space Exploration Technologies Corp. (SpaceX), United Launch Alliance, Virgin Orbit, and Vector Launch.