Small Launch Vehicle Market Share, Trends, Future Scope, Forecast 2030

Posted by BIS RSRCH on February 25th, 2021

Launch vehicles are an important aspect of the global space industry, as they carry satellites into the required orbits. The U.S., China, Japan, Russia, France, and India are some of the dominant countries to develop different kinds of launch vehicles, namely small launch vehicle (SLV), medium launch vehicle, heavy launch vehicle, and super-heavy launch vehicle, which deliver payloads for communication, earth observation, and remote sensing, among other applications. As the demand for dedicated launches, particularly for small satellites, is increasing predominantly, small launch vehicles (SLVs) are gaining huge traction in the market. This is consequently expected to create huge growth in the SLV market over the coming years.

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The global space economy has been growing at a rapid pace, owing to the increasing requirement of satellite and small launch vehicle (SLV) services across different end users, such as defense, academic, commercial, government, and non-profit organization. The sector has been undergoing numerous developments since the past years, due to several factors, including the increasing cost-effectiveness of various systems and the emergence of different technologies, such as 3D printed electronic components and structures, air breathing propulsion systems, electronic propulsion systems, and reusable launch vehicles. The business across the value chain of the space sector, from manufacturing to services, is majorly dominated by the government sector; however, the contribution of private key players is growing, as the usage of satellites has been exponentially increasing in defense, academic, as well as commercial sectors.

Moreover, increasing applications of space technologies, such as surveillance for the military sector, and real-time imaging requirements by different sectors, are also leading to the evolution of the space industry. In order to cater to the aforementioned applications, the demand for a significant number of small satellites and cost-effective launch vehicle solutions increases every year. With this tremendous change happening in the industry, the focus of launch vehicle manufacturers has changed drastically from heavy and large satellite launch vehicle to small satellite launchers at affordable cost.

With the increase in the capabilities of small launch vehicles (SLVs), the space industry is increasing its strategic utility, thus motivating various stakeholders, including governments, space agencies, and private companies, to develop next generation (SLVs). For instance, ISRO has announced the launch of Small Satellite Launch Vehicle (SSLV), which will be capable of lifting 700 kg of payload, by end of 2020. Moreover, Defense Advanced Research Projects Agency (DARPA) is promoting the development of SLVs to cater to the increasing requirement of SLVs to access space.

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The SLV market is at a cusp of technological changes, as the adoption of additive manufacturing (AM) in the space industry is increasing. AM has the ability to manufacture hollow complex parts, which, in turn, leads to a reduction in the overall weight of the component and cost of vehicle. However, there will be a tremendous increase in the launch vehicle scheduling, especially by small satellite constellation developers, which were earlier dependent on large satellite launch providers to send their small satellites as secondary payload. Small launch vehicles provide dedicated launch services and are, therefore, expected to add exponential value to the overall launch industry.