COTS use, cooperation between industry and government key to growth of launch-vehicle market, study saysNews
April 28, 2022
DUBLIN. The global market for small launch vehicles (SLVs) that bring satellites into orbit is expected to reach $4.62 billion in 2032, notching a combined annual growth rate (CAGR) of 13.34% during the forecast period of 2022 to 2032, according to a new study by Research and Markets, "Global Small Launch Vehicle Market -- A Comprehensive Launch Market Assessment: Focus on End User, Satellite Mass, Platform Type, Propulsion Type, Service Type, and Country -- Analysis and Forecast, 2022-2032."
The study authors say that the major driver of the SLV market is expected to be the use of small satellites for applications such as Earth observation, communications, and space exploration.
A number of government and government/industry cooperative projects have been organized for developing an affordable method for launching small satellites. In addition, with rigorous testing of new technologies, the use of commercial off-the-shelf (COTS) parts, and new frontiers in research and development work, these projects are expected to introduce small launch systems to provide more reasonable, routine, and reliable access to space in less than $1 million per launch.
For additional information visit the Research and Markets website.