GEO

Commercial satellite launch vehicle market to gain momentum over 2018-2024, APAC to emerge as a prominent revenue pocket

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The rapidly rising demand for navigation technology, weather monitoring, and remote sensing is certain to augment satellite launch vehicle market growth over the ensuing years. Indeed, authentic surveys vouch for the vast expanse of this industry across the globe. According to the 2017 State of the Satellite Industry Reports, satellite launch services industry revenues including all commercially-competed launches of 2016, increased by 2% to USD 5.51 billion after having experienced a drop by 9% between 2014 to 2015.The rising availability of disposable income amongst the urban population has prompted the usage of mobile phones and navigation devices. Escalating use of the internet, VoIP, online digital payment services and IoT are playing a key role in the enhancement of communication. Reportedly, in 2018, the number of internet users has risen by 7% y-o-y to 4.022 billion, social media users by 13% to 3.196 billion and mobile phone users up by 4% to 5.135 billion globally. Growing connectivity requirement through radio, TV, as well as telecommunication mediums will drive the deployment of communication satellites, thereby propelling the satellite launch vehicle market over 2018-2024.

 

U.S. SLV Market, By Launch Activity, 2017 & 2024, (Units)
U.S. SLV Market, By Launch Activity, 2017 & 2024, (Units)

Geosynchronous satellites contributed to over 65% of the overall satellite vehicle market share in 2017. Indeed close to 34 launch missions in the GEO orbits were recorded in 2017 due to their precise applications in observational data analysis and national security monitoring. The growing demand for geosynchronous satellites on account of their benefits will robustly impel the GEO orbit based satellite launch vehicle market share in the years ahead.

Speaking of commercial satellites, it is prudent to mention that satellite launch vehicle market size from commercial satellites will witness a CAGR of 3% over 2018-2024, owing to the increasing requirements of these satellites in end-use industries such as earth observation, mineral & energy exploration, electronics, military, and telecom. The surge in the number of launchers incorporated with built-in automated navigation systems that are highly beneficial in the event of communication failure will positively influence the satellite launch vehicle industry share from commercial launch activities.

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The India space launch vehicle market has also witnessed a rapid growth in the recent years. In 2017, the Indian Space Research Organization (ISRO) launched a record-breaking 104 Nanosatellites into the orbit all using a single rocket. The Indian space agency is known for building space launch vehicles with minimum labor cost and locally sourced equipment. Reportedly, ISRO’s commercial arm, Antrix has earned Rs 5,600 crore in the last three years, solely through the commercial activities including the launch of commercial satellites as well as remote sensing services. It is thus rather overt that India SLV market stands to gain considerable returns in the ensuing years. Driven by the efforts of economies such as India and China, APAC SLV industry trends are expected to undergo a dynamic change over 2018-2024.

Major players of SLV market include NASA, SpaceX, Blue Origin, Virgin Orbit, United Launch Alliance, Boeing Space and Communications, E Prime Aerospace, Bristol Spaceplanes, Mitsubishi Heavy Industries, Eurockot, Indian Space Research Organisation (ISRO), Stratolaunch Systems, Kelly Space & Technology, Lockheed Martin, Scaled Composites LLC and Northrop Grumman Corporation. Industry participants are currently forging mergers in a bid to reduce SLV development cost and increase the chances of achieving successful launch missions. In 2017 for example, NASA collaborated with SpaceX in a move that led to savings of millions of dollars.

Satellite Launch Vehicles (SLV) carry satellites and payloads from earth’s surface to space. Launching an SLV requires high precision, accuracy, power, efficiency and immaculate planning. Most of the SLVs are designed for one-time use however, upcoming advance SLV technologies introduced by companies like SpaceX would offer use of a single SLV multiple times eventually saving millions of dollars’ worth of capital. In essence, the efforts of leading contenders is likely to aid the growth of SLV industry, slated to hit $2.4 billion by 2024.

Author Name :Mateen Dalal

Commercial satellite launch service market to garner hefty proceeds via small-satellite production over 2018-2024, increasing number of satellite launch programs to drive industry growth

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As digital disruption strongly paves its way in the communication sector, commercial satellite launch service market players are looking for new ways to manage their business models. In this regard, many companies have been adopting satellite launches as a protuberant enabler. A classic example of the same is that of Spaceflight, which has recently announced to revolutionize the space business by delivering a new model for rideshare. The company plans to provide a straightforward & a cost effective suite of services including navigational and rideshare launch offerings.

U.S. Commercial Satellite Launch Service Market, By Orbit, 2017 & 2024, (USD Million)
U.S. Commercial Satellite Launch Service Market, By Orbit, 2017 & 2024, (USD Million)

As per authentic sources, the company has partnered with Rocket Lab for three upcoming launches. The first Electron mission will launch a BlackSky microsat for several rideshare satellite customers, while the second mission is poised to launch satellites for commercial & government organizations. The third mission, scheduled for early 2019, will launch a spacecraft from Canon Electronics.

SpaceX is yet another commercial satellite launch service industry major in the line that has fired one of the largest commercial communication satellites into the orbit to provide GPS, internet, data, and other communication services to the emerging economies across the Asia Pacific and MEA belts. SpaceX, earlier in the month of May had also launched five commercial communication satellites for a ride-share mission. These communication satellites are expected to provide global broadband services, reliable connection for the aviation, land-mobile, and Internet of Things with allegedly higher throughputs and faster speeds.

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Analysts deem that the increasing investments and expansion strategies in the communication sector will quite overtly have a powerful impact on the growth prospects of the global commercial satellite launch service market. With novel growth opportunities and further technology interventions poised to disrupt this space, commercial satellite launch service market is anticipated to surpass USD 7 billion by 2024.

Smallsats to be the next-emerging trend

The market for small satellites or the so called SmallSats has expanded rapidly in the past few years and is expected to account for 29% of the overall commercial satellite launch service industry revenue share in the coming seven years. The advancing technology trends that prioritize lightweight and microcomputer components have allowed the commercial satellite launch service market players to build much smaller and lightweight satellites ultimately leading to significant cost reductions. These factors have thus been playing a key role in making Smallsats appealing enough to be deployed across the commercial, government, and defense sectors.

Owing to the recent surge in the interest in small satellites, the overall commercial satellite launch service market is undergoing a progressive overhaul across its value chain housing the low-weight & cost effective business model of small satellites. If estimates are to be believed, over 25 commercial small satellite operators are planning to launch constellations of 20 to 4,425 satellites down the line of 3 to 5 years. It is prudent to mention that in this regard, SpaceX has been standing tall, having planned to single handedly fire 12,000 small satellites for low earth orbit connectivity solutions. Reliable reports further estimate more than 11,000 small satellites to be launched by 2030, given the essential value proposition offered by these products to end-users.

Beyond small satellites, the micro segment of the commercial satellite launch service industry is also expected to gain significant momentum as the satellite industry continues to launch reliable & affordable vehicles. Reports in fact claim micro satellites to witness highest annual growth rate at 6% over 2018-2024. Analyzing these industry trends, it wouldn’t be wrong to quote that small & micro satellite segments are now developing as lucrative investment grounds for potential stakeholders of this vertical.

Undoubtedly, innovative & cutting-edge product developments by prominent commercial satellite launch service industry players have played a pivotal role in impelling the revenue graph of this business sphere. That said, the Smallsats rush, according to industry experts is certain to hop onto the growing quest of new & existing companies to scale their commercialization matrix. With industry magnates further locking multi-billion dollar investments, this business sphere is certain to tread along a lucrative growth path. A report by Global Market Insights, Inc., estimates commercial satellite launch service market to record a y-o-y growth of 2.5% over 2018-2024.

Author NameOjaswita Kutepatil