Global Satellite Launch Vehicle Market
Aerospace and Defense

Global Satellite Launch Vehicle Market Report 2024: Size, Drivers, And Top Segments

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033


Market Overview

Recent Growth

  • Market size:
    • $15.85 billion in 2023
    • Expected to reach $18.18 billion in 2024
    • CAGR: 14.7%
  • Historical growth drivers:
    • Government space programs
    • Commercial satellite deployments
    • Global geopolitical landscape
    • International collaborations
    • Technological readiness


Future Projections

  • Expected market size:
    • $29.86 billion by 2028
    • CAGR: 13.2%
  • Future growth drivers:
    • Rising demand for small satellites
    • Commercial space exploration
    • Private sector involvement
    • Evolving regulatory environment
    • Emerging space agencies


View More On The Satellite Launch Vehicle Market Report 2024 –


Key Trends Shaping the Future

Adoption of Lighter Materials and Advanced Manufacturing

  • Enhanced efficiency and cost-effectiveness
  • Use of innovative materials and manufacturing techniques

Focus on Responsive and Rapid Launch Capabilities

  • Need for quick deployment of satellites
  • Development of agile launch solutions

Development of Heavy-Lift Launch Vehicles

  • Increased payload capacities
  • Ability to launch larger and more complex missions

International Collaboration and Partnerships

  • Shared resources and knowledge
  • Joint missions and projects

Integration of Artificial Intelligence in Launch Operations

  • Improved precision and reliability
  • Automation of various launch processes

Satellite Launch Surge Fuels Growth

Increase in Satellite Launches

  • Satellite launches involve sending satellites into space using launch vehicles
  • Launch vehicles provide propulsion, guidance, and control


Market Demand

  • Growing need for satellite launches
  • Example: UNOOSA data (January 2023) indicated a rise in space objects from 12,118 in 2021 to 14,281 in 2022

Reusable Rockets Transform the Industry


Technological Advancements

  • Focus on reusable launch vehicles
  • Use of 3D printing for manufacturing

Example: Relativity Space’s Terran R

  • Launched in April 2023
  • Reusable vehicle with advanced 3D-printed aluminum technology
  • Capable of launching payloads up to 23,500 kg to LEO or 5,500 kg to GTO

Notable Acquisitions

Vast Acquires Launcher

  • Acquisition in February 2023
  • Expands portfolio with liquid rocket engine products
  • Utilizes Launcher’s orbiter space tug and hosted payload platform for testing space station components


Market Segmentation

By Launch

  • Single Use or Expendable
  • Reusable

By Subsystem

  • Structure
  • Guidance, Navigation, and Control Systems
  • Propulsion Systems
  • Telemetry, Tracking, and Command Systems
  • Electrical Power Systems
  • Separation Systems

By Payload

  • <500 Kg
  • 500-2,500 Kg
  • 2,500 Kg

By Orbit

  • Low Earth Orbit (LEO)
  • Medium Earth Orbit (MEO)
  • Geostationary Orbit (GEO)

By Application

  • Civil Satellite Launch
  • Military Satellite Launch

Regional Insights


  • Largest market in 2023
  • Expected to be the fastest-growing region during the forecast period


The satellite launch vehicle market is set for rapid growth, driven by increasing satellite launches, technological advancements, and international collaborations. With significant investments in reusable rockets and AI integration, the market will continue to expand, offering new opportunities for various applications across different regions.


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The Satellite Launch Vehicle Global Market Report 2024  provides comprehensive insights on the satellite launch vehicle market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the satellite launch vehicle market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.


View More Related Reports –
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