Reusable Satellite Launch Vehicle (RSLV) Market To Witness Double Digit CAGR From 2018 To 2023 ; MRFR Analysis
Global Reusable Satellite Launch Vehicle Market To Grow at CAGR of more than 12%. Report Information by Configuration (Single Stage, Multiple Stage), by Type (Partially Reusable, Fully Reusable), Vehicle Weight (Up to 4,000lbs, 4000-9000lbs, Over 9000lbs), & by Region – Forecast Till 2023
Hadapsar, Pune, India – August 1, 2018 /MarketersMedia/ —
Global Reusable Satellite Launch Vehicle Market To Expand At A Noteworthy CAGR of 12% During 2018-2023
The reusable satellite launch vehicles are intended for full or partial recovery after a satellite launch in order to use it multiple times. Market Research Future (MRFR) has recently published a report asserting the global reusable satellite launch vehicle market is anticipated to expand at a noteworthy CAGR of 12% during the forecast period of 2018-2023.
Competitive Analysis:
The increasing investment for research and development for introducing efficient reusable satellite launch vehicles that can be fully recovered at minimum cost is strengthening the competition among the prominent players of the global reusable satellite launch vehicle market.
In February 2018, SpaceX has successfully landed and recovered Falcon Heavy, a 270 feet tall satellite launch vehicle which is powered by 27 engines, after its first test flight. This development in reusable satellite launch vehicle system has proved to be a pioneer in the global market.
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Key Players
The leading players of the global reusable satellite launch vehicle market are :
• Airbus S.A.S (Netherlands)
• Boeing (U.S.)
• Bellatrix Aerospace Private Limited (India)
• Bigelow Aerospace (U.S.)
• Lockheed Martin Corporation (U.S.)
• Masten Space Systems (U.S.)
• Space Exploration Technologies Corp. (U.S.)
• Sierra Nevada Corporation (U.S.)
• Virgin Galactic (U.S.)
Market Drivers and Restraints:
The rapid technological development is aiding the increased use of different types of satellites such as communication satellites, weather satellites, navigation satellites, space telescopes and others in various industrial sectors. The increased space activities and satellite launches have created a major issue regarding the rise in the amount of space debris generated by the launch systems, leading to the emergence of reusable satellite launch vehicles in the global market.
The utilization of reusable satellite launch vehicles has led to the reduction of launch cost, service cost and minimizing manufacturing time which has resulted in increased profit margins. The increasing research and development expenditure for manufacturing highly efficient reusable satellite launch vehicles is projected to fuel the expansion of the global reusable satellite launch vehicle market during the forecast period.
The rapid advancement in technology is aiding multiple innovations and modifications in the satellite launch technology, which in turn are creating large number of opportunities for the expansion of the global reusable satellite launch vehicle market. However, the extensive refurbishing and substantial maintenance required for efficient functioning of the reusable satellite launch vehicles are likely to restrain the growth of the global reusable satellite launch vehicle market during the forecast period.
Market Segmentation:
The Global Reusable Satellite Launch Vehicle Market has been segmented on the basis of configuration, type, and vehicle weight. Based on configuration, the reusable satellite launch market is segmented into single stage and multiple stage. Based on type, the reusable satellite launch vehicle market is segmented into partially reusable and fully reusable. Based on vehicle weight, the reusable satellite market is segmented into up to 4000lbs, 4000-9000lbs and over 9000lbs.
Regional Analysis:
The global reusable satellite launch vehicle market has been geographically segmented into five major regions such as North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Owing to the presence of major space centers such as NASA and SpaceX, the North America region is dominating the global reusable satellite launch vehicle market. The increasing number of space programs and satellite-driven industries are driving the reusable satellite launch vehicle market in this region.
The Europe region is projecting significant expansion of the global reusable satellite launch vehicles market owing to the constant efforts by the European Space Agency (ESA) for the growth of European satellite market. The reusable satellite launch vehicle market is anticipated to project rapid growth due to the continuous advancement in aerospace and satellite industries in developing economies such as India and China.
Scope Of Report
The report for Global Reusable Satellite Launch Vehicle Market by Market Research Future covers extensive primary research. This is accompanied by a detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain more profound insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions
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Organization: Market Research Future
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Source: MarketersMedia
Release ID: 385915
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