In this report, Technavio covers the market outlook and growth prospects of the global reusable launch vehicles market for 2017-2021. The market is segmented based on type, which includes partially reusable launch vehicle and fully reusable launch vehicle.
The satellite industry has witnessed significant growth in recent years with the launch of several satellites. However, the high launch costs of using expendable launch vehicles help in reducing the profit margins. As a result, reusable launch vehicles are currently being developed and used by satellite operators to reduce the satellite launch costs. With the rapid advances in technologies, there have been many remarkable innovations and modifications across various industries globally. The satellite sector has been witnessing several developments over the years. Reusable launch vehicles are also being developed to bring down the costs of satellite development and launch.
Technavio’s analysts segment the global reusable launch vehicles market into the following regions:
Americas: largest reusable launch vehicles market
“The Americas dominate the global demand for satellite systems. The US, Canada, Brazil, and Mexico are the region's major markets for space-based programs. These countries have advanced infrastructures and are involved in various space programs. NASA and SpaceX in the US are developing new systems such as the reusable satellite launch vehicle that can be used for multiple satellite launch missions and to meet the growing demand for satellites in the future,” says Avimanyu Basu, a lead analyst at Technavio for research on space.
The US government's civilian space sector is directed by NASA. The organization is responsible for the maintenance of four primary activities, namely aeronautics research, exploration systems, science, and space operations. With the US leading the global demand for commercial satellite and launch services, there have been many developments, investments, and satellite programs, which have resulted in a consistent year-over-year growth of the country and a steady progress of the market.
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Reusable launch vehicles market in APAC
The market in APAC is expected to grow at a significant pace during the forecast period. The growth would be significantly driven by major countries of the region, such as China, India, Japan, Australia, Singapore, and South Korea, which have the technological capabilities and are also investing extensively in satellite services.
“India and China are the two major economies that lead the advanced satellite infrastructure segment in APAC. These countries have developed several satellites that have been placed in the low Earth orbit to provide services across the region. ISRO has been focusing on the development of low-cost launch vehicles and small satellite systems,” says Avimanyu.
Reusable launch vehicles market in EMEA
The satellite sector in Europe has undergone several transformations over the years. The industry is witnessing continuous advances that involve the development and usage of reusable launch vehicles. This leads to low-cost and multiple satellite services, making the usage of satellites more appealing. Countries such as France, Germany, Russia, and the UK along with the European Space Agency (ESA) are making major efforts toward the growth of the European satellite market by investing heavily in new launch technologies to propel the market growth.
The top vendors in the global reusable launch vehicles market highlighted in the report are:
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