Global Reusable Launch Vehicle market size 2024, Forecast To 2033
9 Feb, 2024
The market size of reusable launch vehicles has experienced rapid growth in recent years, surging from $2.08 billion in 2023 to $2.33 billion in 2024, demonstrating a compound annual growth rate (CAGR) of 11.9%. This expansion during the historic period can be linked to concerted efforts aimed at cost reduction, the overarching growth of the space industry, advancements in spaceport infrastructure, increased attention to environmental considerations, and initiatives focusing on space debris mitigation. Looking ahead to 2028, the market is poised for sustained rapid growth, projected to reach $3.57 billion at a CAGR of 11.3%. The drivers for this growth in the forecast period include an augmentation in payload capacity, the establishment of global spaceports, government initiatives in space programs, the development of satellite internet networks, and a growing emphasis on interplanetary exploration. Noteworthy trends anticipated in the forecast period encompass a flourishing space tourism industry, the proliferation of commercial satellite mega-constellations, the adoption of rapid turnaround capabilities, heightened global competition in launches, and advancements in heavy-lift reusability.
Global Reusable Launch Vehicle Market Key Driver
The growth of the reusable launch vehicle market is anticipated due to the increasing number of satellite launches. With almost 5,500 active satellites in orbit as of spring 2022, and an estimated additional 58,000 launches by 2030, the demand for reusable launch vehicles is rising. This surge in satellite launches is propelling the growth of the reusable launch vehicle market.
Get A Free Sample Of The Global Reusable Launch Vehicle Market ReportGlobal Reusable Launch Vehicle Market Segments
The global reusable launch vehicle market covered in this report is segmented –
1) By Type: Partially Reusable Launch Vehicle, Fully Reusable Launch Vehicle
2) By Orbit Type: Low Earth Orbit (LEO), Geosynchronous Transfer Orbit (GTO)
3) By Vehicle Weight: Upto 6,000 lbs, 6,000 to 10,000 lbs, Over 10,000 lbs
4) By Configuration: Single Stage, Multi Stage
5) By Application: Commercial, Defense
By Geography: The regions covered in the Reusable Launch Vehicle market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North Americawas the largest region in the reusable launch vehicle market in 2023. North Americais expected to be the fastest growing region in the forecast period. The regions covered in the reusable launch vehicle market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major Reusable Launch Vehicle Industry Players
LinkSpace Aerospace Technology Group, Blue Origin LLC, National Aeronautics and Space Administration, Indian Space Research Organisation, Space Exploration Technologies Corp., The Boeing Company, United Launch Alliance, European Space Agency, Ariane Group, German Aerospace Center, Relativity Space, Galactic Energy Aerospace Technology, Beijing Interstellar Glory Space Technology Co. Ltd., Payload Aerospace S.L., Bellatrix Aerospace Pvt. Ltd., Lockheed Martin Corporation, Rocket Labs USA Inc., The Spaceship Company, Virgin Galactic Holdings Inc., Sierra Nevada Corporation, Reaction Engines Ltd., Boeing HorizonX Ventures, Firefly Aerospace Inc., Astra Space Inc., Vector Space Systems Inc., Rocket Crafters Inc., Generation Orbit Launch Services, Orbital Sciences Corporation, XCOR Aerospace Inc., Blue Canyon Technologies Inc., Masten Space Systems, Stratolaunch Systems Corp., Interorbital Systems, Exos Aerospace Systems & Technologies Inc., Space Tango Inc., Spaceflight Industries Inc., NanoRacks LLC, Made In Space Inc., Planetary Resources Inc., Bigelow Aerospace LLC
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Reusable Launch Vehicle Market Overview
A reusable launch vehicle refers to a launch vehicle that can be launched more than once. It is designed to return to earth completely unharmed, or it has vehicle stages that a launch operator may be retrieved and employed in the future to run an essentially comparable launch vehicle. These vehicles can dramatically reduce launch costs, decreasing the barrier to entry into space.
Reusable Launch Vehicle Global Market Report 2023 provides data on the global reusable launch vehicle market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The reusable launch vehicle market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.