Reports indicate that global commercial satellite launch service market is expected to exceed an annual valuation of US$ 9 billion by 2026. Increasing scope of commercial operations of commercial satellites will enable the market grow notable between 2020 to 2026.
As many countries to take on maritime activities, commercial satellite launch service market will gain momentum with the increased need for maritime surveillance. The MEO commercial satellites are witnessing considerable adoption and will contribute high revenues for the launch service providers in the coming years. With the emergence of satellite technology, the demand to establish reliable telecommunication network in outer space has increased.
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Strategic ventures to expand satellite capability
To take advantage of market competency, top companies functioning in the space sector are collaborating with telecom service providers. For an example, with a vision to launch seven low-latency next-generation MEO satellite constellations into space, SpaceX merged with SES in a strategic joint venture in September 2019. The companies joined hands to use Falcon 9 spacecraft and launch from Cape Canaveral.
The spacecraft equipped with the O3b mPOWER communication system that can generate infinite numbers of electronically steered beams, leading to market growth. To continue with the space related major operations, increased demand of supplies in International Space Station (ISS) is propelling satellite launches. The medium section such as resupply missions in the commercial satellite launch service market gained more than 40% of market share in 2019.
Space Exploration Technologies Corp. launched Commercial Resupply Mission (CRS-16) in December 2018. This mega event enabled the company to strategically launch satellites with 5,600 pounds of essential supplies and payloads.
Weather forecasting satellites to aid industries
The weather forecasting commercial satellite launch service market gained 20% of market share in 2019 and could rise at a CAGR exceeding 6% over the forecast timespan. Weather satellites play a very crucial role in weather forecasting, used to gather and transmit data related to weather and climate change for delivering real-time weather updates.
These real-time weather forecasts facilitate and provide essential information to several industries such as maritime, commercial transportation and aerospace.
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Support to innovations in Europe to capture the market
With growth of more than US$1 billion in 2019, the Europe commercial satellite launch industry share will rise at a CAGR exceeding 6% between 2020 and 2026. For the development and enhancement of micro-launcher related solutions, institutional and research organizations across Europe are taking encouraging initiatives.
By ensuring the capability to predict and react to disruptive changes including re-usability, in October 2016 the European Commission declared to support the efforts towards innovations and research. This decision will boost the advancement of innovative satellite design and launch sites and triggered commercial satellite launch services market development.
To boost market penetration, major satellite launch service providers and other tech companies are joining hands. For an instance, to facilitate ground station services for satellite startups, Amazon and Lockheed Martin joined hands in a strategic partnership in November 2018.
Some of the leading service providers include ISRO, United Launch Alliance Ariane Group, Eurockot Launch Services, Lockheed Martin, NASA, Commercial Space Technologies Ltd., GK Launch Services, Antrix Corporation Limited, Mitsubishi Heavy Industries Launch Services, SpaceX, Sea Launch, Boeing, Orbital Sciences Corporation, and COSMOS International.
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Chapter 1. Methodology & Scope
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.6. Methodology and forecast parameters
1.2. Data Sources
188.8.131.52. Paid sources
184.108.40.206. Public sources
Chapter 2. Executive Summary
2.1. Commercial satellite launch service industry 360º synopsis, 2015 – 2026
2.2. Business trends
2.3. Regional trends
2.4. Orbit trends
2.5. Size trends
2.6. Application trends
Chapter 3. Commercial Satellite Launch Service Industry Insights
3.2. Industry segmentation
3.3. Industry landscape, 2015 – 2026
3.4. Impact of COVID-19
3.4.1. North America
3.4.3. Asia Pacific
3.4.4. Latin America
3.5. Evolution of commercial satellite launch service
3.6. Industry ecosystem analysis
3.7. Technology & innovation landscape
3.8. Regulatory landscape
3.8.1. North America
3.9. Industry impact forces
3.9.1. Growth drivers
220.127.116.11. Development of launch and re-entry sites
18.104.22.168. Reducing cost per launch
22.214.171.124. Collaborations with various nations increasing launch success rate and reducing capital expenditure
126.96.36.199. United space sector and deployment of telecommunication satellites
3.9.2. Industry pitfalls & challenges
188.8.131.52. High initial investment along with manufacturing complexity
3.10. Growth potential analysis
3.11. Porter’s analysis
3.12. PESTEL analysis
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