Global Small Launch Vehicle Marke

Global Small Launch Vehicle (SLV) Market: Focus on Payload Range and End-User - Analysis and Forecast, 2018-2028

According to BIS Research analysis, the global small launch vehicle market generated $341.2 million in 2017 and is estimated to grow at a CAGR of 30.51% during 2018-2028.

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Published Year: 2018
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The SLV market is expected to witness a high growth rate owing to the increase in deployment of small satellites for commercial end users, the surge in demand for small satellite constellations, and the significant increase in investment of large space organization in developing SLVs. Recent innovations in components and services have enabled the SLV technology to reach to a wider segment of consumers in the industry. Moreover, companies are developing various forms of emerging technologies, such as 3D printed electronic components and structure, air breathing propulsion system, electronic propulsion system, and reusable launch vehicles, among others, to develop cost-effective SLVs. In terms of revenue, the small launch vehicle market generated $341.2 million in the year 2017.

According to BIS Research analysis, the global small launch vehicle market generated $341.2 million in 2017 and is estimated to grow at a CAGR of 30.51% during 2018-2028. Asia-Pacific dominated the global small launch vehicle market in 2017 wherein, North America is expected to have the highest growth rate during the forecast period 2018-2028.

Following points provide a detailed description of the report content and the topics covered in the report:

•    This report identifies the global small launch vehicle market under different segments such as end user, payload range, and region.

•    It examines the prime demand-side factors that affect the growth of the market and the current and future trends, market drivers, restraints, and challenges prevalent in the global small launch vehicle market.

•    The report also highlights the value chain of the industry.

•    This report includes a detailed competitive analysis, which focuses on the key market developments and strategies followed by the top players in the market. Additionally, the competitive benchmarking, which analyzes the competitive strength of the players in the global small launch vehicle market of the prominent companies, has been included in the existing study.

•    The market for different end user such as defense, academic, commercial, government, and non-profit has been estimated and analyzed. 

•    The market analysis depending on the launch vehicle payload range of < 20 kg, 20 kg - 150 kg, 151 kg - 500 kg, 501 kg – 1,200 kg, and 1,201 kg – 2,200 kg. 1,201 kg – 2,200 kg, has been estimated and analyzed in the report.

•    The global small launch vehicle market has been analyzed in the report for the major regions including North America, Europe, Asia-Pacific, and Rest-of-the-World.  

•    The study provides detailed analysis of 17 key players in the global small launch vehicle market, including Arianespace, CubeCab, EUROCKOT Launch Services GmbH, IHI Corporation, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Mitsubishi Heavy Industries, Ltd., Orbital ATK, Inc., Rocket Lab USA, Inc., Space Exploration Technologies Corp., Spacefleet Ltd., and The Boeing Company, among others, in the Company Profiles section. This section covers business financials, company snapshots, key products and services, major developments, future programs (if any), and the individual SWOT analysis.

    Executive Summary
    1    Market Dynamics
          1.1    Drivers
                   1.1.1    Growth in Small Satellites for Earth Observation, and Remote Sensing Applications
                   1.1.2    Proliferation in Small Satellite Constellations
                   1.1.3    Significant Increase in Investment of Large Space Organizations
          1.2    Challenges
                   1.2.1    Reduction in the Cost of Launching Small Launch Vehicles
                   1.2.2    Developing a Dedicated and Low Cost Launching Site for Small Launch Vehicles
          1.3    Opportunities
                   1.3.1    Advancements in 3D Printing Technology for Developing the Components of Small Launch Vehicle
                   1.3.2    Nations Developing Their Own Low Cost Launching Site
 
    2    Competitive Insights
          2.1    Key Market Strategies and Developments
                   2.1.1    Partnerships, Agreements, and Contracts
                   2.1.2    Product Launches
                   2.1.3    Mergers and Acquisitions
                   2.1.4    Other Developments
          2.2    Small Launch Vehicle: Market Share Analysis and Competitive Benchmarking
 
    3    Industry Analysis
          3.1    Evolution of Small Launch Vehicle
          3.2    Product and Pricing Analysis
          3.3    Small Launch Vehicle Start-Ups
          3.4    Patent Analysis
          3.5    Value Chain Analysis
 
    4    Global Small Launch Vehicle Market, 2018-2028
          4.1    Assumptions and Limitations
          4.2    Market Overview
 
    5    Global Small Launch Vehicle Market (by Payload Range)
          5.1    Market Overview
          5.2    < 20 kg
          5.3    20 kg – 150 kg
          5.4    151 kg – 500 kg
          5.5    501 kg – 1,200 kg
          5.6    1,201 kg – 2,200 kg
 
    6    Global Small Launch Vehicle Market (by End User)
          6.1    Market Overview
          6.2    Academic
          6.3    Commercial
          6.4    Government
          6.5    Defense
          6.6    Non-Profit Organization
 
    7    Global Small Launch Vehicle Market (by Region)
          7.1    Market Overview
          7.2    North America
                   7.2.1    The U.S.
          7.3    Europe
                   7.3.1    The U.K.
                   7.3.2    France
                   7.3.3    Russia
                   7.3.4    Rest-of-Europe
          7.4    Asia-Pacific
                   7.4.1    China
                   7.4.2    India
                   7.4.3    Japan
                   7.4.4    Rest-of-Asia-Pacific
          7.5    Rest-of-the-World
 
    8    Futuristic Scenario: Technological Advancements and Opportunities for Different Stakeholders
          8.1    Cost Advantages in Small Launch Vehicle
          8.2    Upgradation in Propulsion System
          8.3    Advancements in Structure Composition
          8.4    Developments in Reusable Launch Vehicles (RLV)
 
    9    Global Small Satellite Industry Scenario: Business Opportunity for Small Launch Vehicle Market
          9.1    Challenges for Small Satellite Operators
          9.2    Global Small Satellite Market Scenario
          9.3    Opportunities for Small Launch Vehicle Market
 
   10    Company Profile
           10.1    Arianespace
                      10.1.1    Company Overview
                      10.1.2    Product Offerings
                      10.1.3    Corporate Summary
                      10.1.4    SWOT Analysis
           10.2    Blue Origin
                      10.2.1    Company Overview
                      10.2.2    Product offerings
                      10.2.3    Corporate Summary
                      10.2.4    SWOT Analysis
           10.3    China Aerospace Science and Technology Corporation
                      10.3.1    Company Overview
                      10.3.2    Product offerings
                      10.3.3    Financials
                                    10.3.3.1    Overall Financials
                                    10.3.3.2    Financial Summary
                      10.3.4    SWOT Analysis
           10.4    CubeCab
                      10.4.1    Company Overview
                      10.4.2    Corporate Summary
                      10.4.3    SWOT Analysis
           10.5    EUROCKOT Launch Services GmbH
                      10.5.1    Company Overview
                      10.5.2    Product Offerings
                      10.5.3    Corporate Summary
                      10.5.4    SWOT Analysis
           10.6    IHI Corporation
                      10.6.1    Company Overview
                      10.6.2    Product Offerings
                      10.6.3    Financials
                                    10.6.3.1    Overall Financials
                                    10.6.3.2    Financial Summary
                      10.6.4    SWOT Analysis
            10.7    Interorbital Systems
                       10.7.1    Company Overview
                       10.7.2    Product offerings
                       10.7.3    Corporate Summary
                       10.7.4    SWOT Analysis
            10.8    Israel Aerospace Industries Ltd.
                       10.8.1    Company Overview
                       10.8.2    Product Offerings
                       10.8.3    Financials
                                     10.8.3.1    Overall Financials
                                     10.8.3.2    Financial Summary
                       10.8.4    SWOT Analysis
             10.9    Lockheed Martin Corporation
                        10.9.1    Company Overview
                        10.9.2    Product Offerings
                        10.9.3    Financials
                                      10.9.3.1    Overall Financials
                                      10.9.3.2    Financial Summary
                        10.9.4    SWOT Analysis
            10.10   Mitsubishi Heavy Industries, Ltd.
                        10.10.1    Company Overview
                        10.10.2    Product Offerings
                        10.10.3    Financials
                                        10.10.3.1    Overall Financials
                                        10.10.3.2    Financial Summary
                        10.10.4    SWOT Analysis
             10.11   Northrop Grumman Corporation
                         10.11.1    Company Overview
                         10.11.2    Product Offerings
                         10.11.3    Financials
                                         10.11.3.1    Overall Financials
                                         10.11.3.2    Financial Summary
                         10.11.4    SWOT Analysis
             10.12    Rocket Lab USA, Inc.
                          10.12.1    Company Overview
                          10.12.2    Product Offerings
                          10.12.3    Corporate Summary
                          10.12.4    SWOT Analysis
              10.13   Space Exploration Technologies Corp.
                          10.13.1    Company Overview
                          10.13.2    Product Offerings
                          10.13.3    Corporate Summary
                          10.13.4    SWOT Analysis
              10.14   Spacefleet Ltd.
                          10.14.1    Company Overview
                          10.14.2    Product offerings
                          10.14.3    Corporate Summary
                          10.14.4    SWOT Analysis
              10.15   The Boeing Company
                          10.15.1    Company Overview
                          10.15.2    Product offerings
                          10.15.3    Financials
                                          10.15.3.1    Overall Financials
                                          10.15.3.2    Financial Summary
                          10.15.4    SWOT Analysis
               10.16   Virgin Orbit
                           10.16.1    Company Overview
                           10.16.2    Product offerings
                           10.16.3    Corporate Summary
                           10.16.4    SWOT Analysis
               10.17   Vector Launch
                           10.17.1    Company Overview
                           10.17.2    Product offerings
                           10.17.3    Corporate Summary
                           10.17.4    SWOT Analysis
 
    11    Research Scope & BIS Methodology
            11.1    Scope of the Report
            11.2    Global Small Launch Vehicle Market Research Methodology
            11.3    Assumptions and Limitations
 
    12    Appendix
            12.1    Related Reports
 

List of Tables

Table 1:    List of Operational Small Launch Vehicles, 2018
Table 3.1:    Product and Pricing Analysis, 2018
Table 3.2:    Emerging Start-ups in Small Launch Vehicle Market
Table 3.3:    Patent Analysis: System and Method for Magnetically  Launching Projectiles or Spacecraft
Table 3.4:    Patent Analysis: Rocket-Engine Propellant Delivery Systems
Table 3.5:    Patent Analysis: Electric Pump Conveying System for Solid-Liquid Rocket Engine
Table 3.6:    Patent Analysis: Thermoplastic-Aluminum Nanocomposite  Based Hybrid Rocket Fuel Grain
Table 3.7:    Patent Analysis: Hyperloop for Space Vehicle Launch
Table 5.1:    Global Small Launch Vehicle Market (by Payload Range), 2017-2028
Table 5.2:    Small Launch Vehicle Payload Lifted in 2017
Table 6.1:    Global Small Launch Vehicle Market (by End User), 2017-2028
Table 7.1:    Global Small Launch Vehicle Market Size (by Region), 2017-2028
Table 7.2:    North America SLV Launches, 2017 and 2018 (as of October 2018)
Table 7.3:    Europe SLV Launches, 2017 and 2018 (as of October 2018)
Table 7.4:    Asia-Pacific SLV Launches, 2017 and 2018 (as of October 2018)
Table 9.1:    Small Satellite Classification
Table 9.2:    Expected Small Satellite Constellations by 2023

List of Figures

Figure 1:    Global Small Launch Vehicle Market Overview, 2017 and 2028
Figure 2:    Global Small Launch Vehicle Market (by Payload Range), 2017 and 2028
Figure 3:    Global Small Launch Vehicle Market (by End User), 2017 and 2028
Figure 4:    Global Small Launch Vehicle Market (by Region), 2028
Figure 1.1:    Small Launch Vehicle: Market Dynamics
Figure 1.2:    Major Currently Operational or Announced Small Satellite Constellations
Figure 1.3:    NASA’s Launch Vehicle Development Budget: 2016 - 2022
Figure 1.4:    Small Launch Vehicle: Analysis of Launch Price vs. Maximum Payload
Figure 1.5:    3D Printing Material Market for Aerospace & Defense Industry
Figure 1.6:    Operational Launch Sites
Figure 2.1:    Some of the Organic and Inorganic Growth Strategies Adopted  by the Key Players
Figure 2.2:    Percentage Share of Strategies Adopted by the Market Players,  January 2015-October 2018
Figure 2.3:    Partnerships, Agreements, and Contracts Adopted by Key Market Players, January 2015-October 2018
Figure 2.4:    Product Launches by the Key Market Players, January 2015-October 2018
Figure 2.5:    Mergers and Acquisitions Adopted by the Key Market Players,  January 2015-October 2018
Figure 2.6:    Other Developments by the Key Market Players, January 2015-October 2018
Figure 2.7:    Global Small Launch Vehicle Market: Market Share Analysis, 2017
Figure 2.8:    Small Launch Vehicle: Competitive Benchmarking
Figure 3.1:    Evolution of Small Launch Vehicles: 2010-2018
Figure 3.2:    Small Launch Vehicle: Value Chain Analysis
Figure 3.3:    Focus Areas for SLV Designing
Figure 3.4:    Small Launch Vehicle: Manufacturing Process Steps
Figure 4.1:    Global Small Launch Vehicle Market, 2017-2028
Figure 4.2:    Global SLV Launches Realistic and Optimistic Scenario, 2017-2028
Figure 5.1:    Classification of Global Small Launch Vehicle Market (by Payload Range),  Market Share (%) 2017
Figure 5.2:    Global Small Launch Vehicle Market (by Payload Range), 2017-2028
Figure 5.3:    Global Small Launch Vehicle Market (by < 20 kg Payload Range), 2020-2028
Figure 5.4:    Global Small Launch Vehicle Market (by 20 kg – 150 kg Payload Range), 2017-2028
Figure 5.5:    Global Small Launch Vehicle Market (by 151 kg – 500 kg Payload Range), 2017-2028
Figure 5.6:    Global Small Launch Vehicle Market (by 501 kg – 1,200 kg Payload Range), 2017-2028
Figure 5.7:    Global Small Launch Vehicle Market (by 1,201 kg – 2,200 kg Payload Range), 2017-2028
Figure 6.1:    Global Small Launch Vehicle Market (by End User), 2017
Figure 6.2:    Classification of Global Small Launch Vehicle Market (by End User)
Figure 6.3:    Global Small Launch Vehicle Market (by End User), 2017 and 2028
Figure 6.4:    Global Small Launch Vehicle Market (by Academic End User), 2017-2028
Figure 6.5:    Global Small Launch Vehicle Market (by Commercial End User), 2017-2028
Figure 6.6:    Global Small Launch Vehicle Market (by Government End User), 2017-2028
Figure 6.7:    Global Small Launch Vehicle Market (by Commercial End User), 2017-2028
Figure 6.8:    Global Small Launch Vehicle Market (by Non-Profit Organization End User),  2023-2028
Figure 7.1:    Classification of Global Small Launch Vehicle Market (by Region)
Figure 7.2:    Global Small Launch Vehicle Market (by Region), 2017 and 2028
Figure 7.3:    North America Small Launch Vehicle Market Size, 2017-2028
Figure 7.4:    Europe Small Launch Vehicle Market Size, 2017-2028
Figure 7.5:    Asia-Pacific Small Launch Vehicle Market Size, 2017-2028
Figure 7.6:    Rest-of-the-World Small Launch Vehicle Market Size, 2017-2028
Figure 8.1:    Small Launch Vehicle – Share of Different Components in Overall Cost  per Launch, 2018
Figure 8.2:    Components of SLV - Cost per Launch Share (%), 2017-2028
Figure 8.3:    Propulsion Systems Technological Roadmap, 2010-2035
Figure 8.4:    Benefits and Challenges of 3D Printing
Figure 8.5:    Reusable SLV Market - Determining Factors
Figure 9.1:    Global Small Satellite Market, 2017-2023
Figure 9.2:    Global Small Satellite Market, 2017-2023
Figure 9.3:    Expected Launches with Rideshare and Dedicated Launch Vehicle, 2017-2023
Figure 9.4:    Expected Small Launch Vehicles by 2021
Figure 9.5:    Expected Small Launch Vehicles by 2023
Figure 10.1:    Share of Key Company Profiles
Figure 10.2:    Arianespace - Product Offerings
Figure 10.3:    Arianespace - Facts & Figures
Figure 10.4:    Arianespace - SWOT Analysis
Figure 10.5:    Blue Origin: Product Offerings
Figure 10.6:    Blue Origin - SWOT Analysis
Figure 10.7:    China Aerospace Science and Technology Corporation: Product Offerings
Figure 10.8:    China Aerospace Science and Technology Corporation - Overall Financials, 2015-2017
Figure 10.9:    China Aerospace Science and Technology Corporation: Revenue (by Business Segment), 2015-2017
Figure 10.10:    China Aerospace Science and Technology Corporation: Share in Overall Revenue (by Region), 2015-2017
Figure 10.11:    China Aerospace Science and Technology Corporation - SWOT Analysis
Figure 10.12:    CubeCab - SWOT Analysis
Figure 10.13:    EUROCKOT Launch Services GmbH - Product Offerings
Figure 10.14:    EUROCKOT Launch Services GmbH - SWOT Analysis
Figure 10.15:    IHI Corporation - Product Offerings
Figure 10.16:    IHI Corporation Overall Financials, 2015-2017
Figure 10.17:    IHI Corporation - Revenue (by Business Segment), 2015-2017
Figure 10.18:    IHI Corporation - Revenue (by Geography), 2015-2017
Figure 10.19:    IHI Corporation - Revenue (by Geography), 2015-2017
Figure 10.20:    Interorbital Systems - Product Offerings
Figure 10.21:    Interorbital Systems - SWOT Analysis
Figure 10.22:    Israel Aerospace Industries Ltd.: Product Offerings
Figure 10.23:    Israel Aerospace Industries Ltd. – Overall Financials, 2015-2017
Figure 10.24:    Israel Aerospace Industries Ltd. – Revenue (by Business Segment), 2015-2017
Figure 10.25:    Israel Aerospace Industries Ltd.: SWOT Analysis
Figure 10.26:    Lockheed Martin Corporation: Product Offerings
Figure 10.27:    Lockheed Martin Corporation - Overall Financials, 2015-2017
Figure 10.28:    Lockheed Martin Corporation - Revenue (by Business Segment), 2015-2017
Figure 10.29:    Lockheed Martin Corporation - Revenue (by Geography), 2015-2017
Figure 10.30:    Lockheed Martin Corporation: SWOT Analysis
Figure 10.31:    Mitsubishi Heavy Industries, Ltd. - Product Offerings
Figure 10.32:    Mitsubishi Heavy Industries, Ltd. - Overall Financials, 2015-2017
Figure 10.33:    Mitsubishi Heavy Industries, Ltd. – Revenue (by Business Segment),  2016 and 2017
Figure 10.34:    Mitsubishi Heavy Industries, Ltd. - Revenue (by Business Segment), 2015
Figure 10.35:    Mitsubishi Heavy Industries, Ltd. - Revenue (by Geography), 2015-2017
Figure 10.36:    Mitsubishi Heavy Industries, Ltd. - SWOT Analysis
Figure 10.37:    Northrop Grumman Corporation - Product Offerings
Figure 10.38:    Northrop Grumman Corporation - Overall Financials, 2015-2017
Figure 10.39:    Northrop Grumman Corporation – Revenue (by Business Segment), 2015-2017
Figure 10.40:    Northrop Grumman Corporation Revenue (by Geography), 2015-2017
Figure 10.41:    Northrop Grumman Corporation - SWOT Analysis
Figure 10.42:    Rocket Lab USA, Inc.: Product Offerings
Figure 10.43:    Rocket Labs USA, Inc. - SWOT Analysis
Figure 10.44:    SpaceX Exploration Technologies Corp.: Product Offerings
Figure 10.45:    SpaceX - SWOT Analysis
Figure 10.46:    Spacefleet Ltd - SWOT Analysis
Figure 10.47:    The Boeing Company - Product Offerings
Figure 10.48:    The Boeing Company - Overall Financials, 2015-2017
Figure 10.49:    The Boeing Company: Revenue (by Business Segment), 2015-2017
Figure 10.50:    The Boeing Company: Share in Overall Revenue (by Region), 2015-2017
Figure 10.51:    The Boeing Company - SWOT Analysis
Figure 10.52:    Virgin Orbit - SWOT Analysis
Figure 10.53:    Vector Launch - Product Offerings
Figure 10.54:    Vector Launch - SWOT Analysis
Figure 11.1:    Global Small Launch Vehicle Market Segmentation
Figure 11.2:    Secondary Data Sources
Figure 11.3:    Top Down and Bottom Up Approach
Figure 11.4:    Small Launch Vehicle Market Influencing Factors
Figure 11.5:    Assumptions and Limitations

Launch vehicles are an important aspect of the global space industry as they carry satellites into the required orbits. The U.S., China, Japan, France, and India are few of the dominant countries that have developed launch vehicles across different categories, such as small launch vehicle, medium launch vehicle, heavy launch vehicle, and super-heavy launch vehicle, which deliver payloads for communication, earth observation, and remote sensing, among others. 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 small launch vehicle market over the coming years.

Small launch vehicles (SLVs) are defined as those with a payload capacity of less than 2,200 kg, mainly developed and designed to cater to the small satellite market. The major factors differentiating SLVs from conventional heavy launch vehicles are the performance of the vehicle that depends on how much payload the vehicle can lift to a certain orbit and the price of the launch. With the increase in the capabilities of small satellites, the space industry is developing strategic utility, thus, motivating various stakeholders including government, space agencies and private companies, to develop dedicated and next-generation small satellite launch vehicles.

Some of the key players in the global SLV market include Arianespace, CubeCab, EUROCKOT Launch Services GmbH, IHI Corporation, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Mitsubishi Heavy Industries, Ltd., Orbital ATK, Inc., Rocket Lab USA, Inc., Space Exploration Technologies Corp., Spacefleet Ltd., and The Boeing Company. These companies are aiming for a wide range of product launches and collaborations to expand their operations and to prevent new companies from becoming future competitors. At the same time, a number of startup companies are venturing into the market to provide launching solution to varied end users, including academic, commercial, government, defense, and non-profit organizations.

FIGURE 1 GLOBAL SMALL LAUNCH VEHICLE MARKET, 2017-2028

Global Small Launch Vehicle Market

Source: Expert Interviews, Secondary Research and BIS Research Analysis  

The preceding figure illustrates the increasing number of SLV launches and revenue generation of the global small launch vehicle market over the years. The market reported a revenue of $341.2 million in 2017 and is expected to grow at a significant CAGR during the forecast period 2018-2028. The global small launch vehicle market has been segmented into five end-users: academic, commercial, government, defense, and non-profit organization. The government end-user segment acquired the largest share in 2017; however, academic end-user segment is expected to grow at the highest CAGR during the forecast period, 2018-2028. In addition, the global small launch vehicle market is also classified depending upon the payload, such as < 20 kg, 20 kg - 150 kg, 151 kg - 500 kg, 501 kg – 1,200 kg, and 1,201 kg – 2,200 kg. The 1,201 kg – 2,200 kg payload range had the highest penetration in the market in 2017, however, the 501 kg – 1,200 kg payload range market is estimated to grow at the highest CAGR during the forecast period, 2018-2028.

Asia-Pacific accounted for the highest share of the market in 2017, owing to the maximum number of small launch vehicle launches. However, North America is expected to witness the highest growth during the forecast period, 2018-2028, mainly driven by continued efforts of the private players and DARPA in development of satellite technologies to transform the national economy and strengthen security.

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The SLV market is expected to witness a high growth rate owing to the increase in deployment of small satellites for commercial end users, the surge in demand for small satellite constellations, and the significant increase in investment of large space organization in developing SLVs. Recent innovations in components and services have enabled the SLV technology to reach to a wider segment of consumers in the industry. Moreover, companies are developing various forms of emerging technologies, such as 3D printed electronic components and structure, air breathing propulsion system, electronic propulsion system, and reusable launch vehicles, among others, to develop cost-effective SLVs. In terms of revenue, the small launch vehicle market generated $341.2 million in the year 2017.

According to BIS Research analysis, the global small launch vehicle market generated $341.2 million in 2017 and is estimated to grow at a CAGR of 30.51% during 2018-2028. Asia-Pacific dominated the global small launch vehicle market in 2017 wherein, North America is expected to have the highest growth rate during the forecast period 2018-2028.

Following points provide a detailed description of the report content and the topics covered in the report:

•    This report identifies the global small launch vehicle market under different segments such as end user, payload range, and region.

•    It examines the prime demand-side factors that affect the growth of the market and the current and future trends, market drivers, restraints, and challenges prevalent in the global small launch vehicle market.

•    The report also highlights the value chain of the industry.

•    This report includes a detailed competitive analysis, which focuses on the key market developments and strategies followed by the top players in the market. Additionally, the competitive benchmarking, which analyzes the competitive strength of the players in the global small launch vehicle market of the prominent companies, has been included in the existing study.

•    The market for different end user such as defense, academic, commercial, government, and non-profit has been estimated and analyzed. 

•    The market analysis depending on the launch vehicle payload range of < 20 kg, 20 kg - 150 kg, 151 kg - 500 kg, 501 kg – 1,200 kg, and 1,201 kg – 2,200 kg. 1,201 kg – 2,200 kg, has been estimated and analyzed in the report.

•    The global small launch vehicle market has been analyzed in the report for the major regions including North America, Europe, Asia-Pacific, and Rest-of-the-World.  

•    The study provides detailed analysis of 17 key players in the global small launch vehicle market, including Arianespace, CubeCab, EUROCKOT Launch Services GmbH, IHI Corporation, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Mitsubishi Heavy Industries, Ltd., Orbital ATK, Inc., Rocket Lab USA, Inc., Space Exploration Technologies Corp., Spacefleet Ltd., and The Boeing Company, among others, in the Company Profiles section. This section covers business financials, company snapshots, key products and services, major developments, future programs (if any), and the individual SWOT analysis.

    Executive Summary
    1    Market Dynamics
          1.1    Drivers
                   1.1.1    Growth in Small Satellites for Earth Observation, and Remote Sensing Applications
                   1.1.2    Proliferation in Small Satellite Constellations
                   1.1.3    Significant Increase in Investment of Large Space Organizations
          1.2    Challenges
                   1.2.1    Reduction in the Cost of Launching Small Launch Vehicles
                   1.2.2    Developing a Dedicated and Low Cost Launching Site for Small Launch Vehicles
          1.3    Opportunities
                   1.3.1    Advancements in 3D Printing Technology for Developing the Components of Small Launch Vehicle
                   1.3.2    Nations Developing Their Own Low Cost Launching Site
 
    2    Competitive Insights
          2.1    Key Market Strategies and Developments
                   2.1.1    Partnerships, Agreements, and Contracts
                   2.1.2    Product Launches
                   2.1.3    Mergers and Acquisitions
                   2.1.4    Other Developments
          2.2    Small Launch Vehicle: Market Share Analysis and Competitive Benchmarking
 
    3    Industry Analysis
          3.1    Evolution of Small Launch Vehicle
          3.2    Product and Pricing Analysis
          3.3    Small Launch Vehicle Start-Ups
          3.4    Patent Analysis
          3.5    Value Chain Analysis
 
    4    Global Small Launch Vehicle Market, 2018-2028
          4.1    Assumptions and Limitations
          4.2    Market Overview
 
    5    Global Small Launch Vehicle Market (by Payload Range)
          5.1    Market Overview
          5.2    < 20 kg
          5.3    20 kg – 150 kg
          5.4    151 kg – 500 kg
          5.5    501 kg – 1,200 kg
          5.6    1,201 kg – 2,200 kg
 
    6    Global Small Launch Vehicle Market (by End User)
          6.1    Market Overview
          6.2    Academic
          6.3    Commercial
          6.4    Government
          6.5    Defense
          6.6    Non-Profit Organization
 
    7    Global Small Launch Vehicle Market (by Region)
          7.1    Market Overview
          7.2    North America
                   7.2.1    The U.S.
          7.3    Europe
                   7.3.1    The U.K.
                   7.3.2    France
                   7.3.3    Russia
                   7.3.4    Rest-of-Europe
          7.4    Asia-Pacific
                   7.4.1    China
                   7.4.2    India
                   7.4.3    Japan
                   7.4.4    Rest-of-Asia-Pacific
          7.5    Rest-of-the-World
 
    8    Futuristic Scenario: Technological Advancements and Opportunities for Different Stakeholders
          8.1    Cost Advantages in Small Launch Vehicle
          8.2    Upgradation in Propulsion System
          8.3    Advancements in Structure Composition
          8.4    Developments in Reusable Launch Vehicles (RLV)
 
    9    Global Small Satellite Industry Scenario: Business Opportunity for Small Launch Vehicle Market
          9.1    Challenges for Small Satellite Operators
          9.2    Global Small Satellite Market Scenario
          9.3    Opportunities for Small Launch Vehicle Market
 
   10    Company Profile
           10.1    Arianespace
                      10.1.1    Company Overview
                      10.1.2    Product Offerings
                      10.1.3    Corporate Summary
                      10.1.4    SWOT Analysis
           10.2    Blue Origin
                      10.2.1    Company Overview
                      10.2.2    Product offerings
                      10.2.3    Corporate Summary
                      10.2.4    SWOT Analysis
           10.3    China Aerospace Science and Technology Corporation
                      10.3.1    Company Overview
                      10.3.2    Product offerings
                      10.3.3    Financials
                                    10.3.3.1    Overall Financials
                                    10.3.3.2    Financial Summary
                      10.3.4    SWOT Analysis
           10.4    CubeCab
                      10.4.1    Company Overview
                      10.4.2    Corporate Summary
                      10.4.3    SWOT Analysis
           10.5    EUROCKOT Launch Services GmbH
                      10.5.1    Company Overview
                      10.5.2    Product Offerings
                      10.5.3    Corporate Summary
                      10.5.4    SWOT Analysis
           10.6    IHI Corporation
                      10.6.1    Company Overview
                      10.6.2    Product Offerings
                      10.6.3    Financials
                                    10.6.3.1    Overall Financials
                                    10.6.3.2    Financial Summary
                      10.6.4    SWOT Analysis
            10.7    Interorbital Systems
                       10.7.1    Company Overview
                       10.7.2    Product offerings
                       10.7.3    Corporate Summary
                       10.7.4    SWOT Analysis
            10.8    Israel Aerospace Industries Ltd.
                       10.8.1    Company Overview
                       10.8.2    Product Offerings
                       10.8.3    Financials
                                     10.8.3.1    Overall Financials
                                     10.8.3.2    Financial Summary
                       10.8.4    SWOT Analysis
             10.9    Lockheed Martin Corporation
                        10.9.1    Company Overview
                        10.9.2    Product Offerings
                        10.9.3    Financials
                                      10.9.3.1    Overall Financials
                                      10.9.3.2    Financial Summary
                        10.9.4    SWOT Analysis
            10.10   Mitsubishi Heavy Industries, Ltd.
                        10.10.1    Company Overview
                        10.10.2    Product Offerings
                        10.10.3    Financials
                                        10.10.3.1    Overall Financials
                                        10.10.3.2    Financial Summary
                        10.10.4    SWOT Analysis
             10.11   Northrop Grumman Corporation
                         10.11.1    Company Overview
                         10.11.2    Product Offerings
                         10.11.3    Financials
                                         10.11.3.1    Overall Financials
                                         10.11.3.2    Financial Summary
                         10.11.4    SWOT Analysis
             10.12    Rocket Lab USA, Inc.
                          10.12.1    Company Overview
                          10.12.2    Product Offerings
                          10.12.3    Corporate Summary
                          10.12.4    SWOT Analysis
              10.13   Space Exploration Technologies Corp.
                          10.13.1    Company Overview
                          10.13.2    Product Offerings
                          10.13.3    Corporate Summary
                          10.13.4    SWOT Analysis
              10.14   Spacefleet Ltd.
                          10.14.1    Company Overview
                          10.14.2    Product offerings
                          10.14.3    Corporate Summary
                          10.14.4    SWOT Analysis
              10.15   The Boeing Company
                          10.15.1    Company Overview
                          10.15.2    Product offerings
                          10.15.3    Financials
                                          10.15.3.1    Overall Financials
                                          10.15.3.2    Financial Summary
                          10.15.4    SWOT Analysis
               10.16   Virgin Orbit
                           10.16.1    Company Overview
                           10.16.2    Product offerings
                           10.16.3    Corporate Summary
                           10.16.4    SWOT Analysis
               10.17   Vector Launch
                           10.17.1    Company Overview
                           10.17.2    Product offerings
                           10.17.3    Corporate Summary
                           10.17.4    SWOT Analysis
 
    11    Research Scope & BIS Methodology
            11.1    Scope of the Report
            11.2    Global Small Launch Vehicle Market Research Methodology
            11.3    Assumptions and Limitations
 
    12    Appendix
            12.1    Related Reports
 

List of Tables

Table 1:    List of Operational Small Launch Vehicles, 2018
Table 3.1:    Product and Pricing Analysis, 2018
Table 3.2:    Emerging Start-ups in Small Launch Vehicle Market
Table 3.3:    Patent Analysis: System and Method for Magnetically  Launching Projectiles or Spacecraft
Table 3.4:    Patent Analysis: Rocket-Engine Propellant Delivery Systems
Table 3.5:    Patent Analysis: Electric Pump Conveying System for Solid-Liquid Rocket Engine
Table 3.6:    Patent Analysis: Thermoplastic-Aluminum Nanocomposite  Based Hybrid Rocket Fuel Grain
Table 3.7:    Patent Analysis: Hyperloop for Space Vehicle Launch
Table 5.1:    Global Small Launch Vehicle Market (by Payload Range), 2017-2028
Table 5.2:    Small Launch Vehicle Payload Lifted in 2017
Table 6.1:    Global Small Launch Vehicle Market (by End User), 2017-2028
Table 7.1:    Global Small Launch Vehicle Market Size (by Region), 2017-2028
Table 7.2:    North America SLV Launches, 2017 and 2018 (as of October 2018)
Table 7.3:    Europe SLV Launches, 2017 and 2018 (as of October 2018)
Table 7.4:    Asia-Pacific SLV Launches, 2017 and 2018 (as of October 2018)
Table 9.1:    Small Satellite Classification
Table 9.2:    Expected Small Satellite Constellations by 2023

List of Figures

Figure 1:    Global Small Launch Vehicle Market Overview, 2017 and 2028
Figure 2:    Global Small Launch Vehicle Market (by Payload Range), 2017 and 2028
Figure 3:    Global Small Launch Vehicle Market (by End User), 2017 and 2028
Figure 4:    Global Small Launch Vehicle Market (by Region), 2028
Figure 1.1:    Small Launch Vehicle: Market Dynamics
Figure 1.2:    Major Currently Operational or Announced Small Satellite Constellations
Figure 1.3:    NASA’s Launch Vehicle Development Budget: 2016 - 2022
Figure 1.4:    Small Launch Vehicle: Analysis of Launch Price vs. Maximum Payload
Figure 1.5:    3D Printing Material Market for Aerospace & Defense Industry
Figure 1.6:    Operational Launch Sites
Figure 2.1:    Some of the Organic and Inorganic Growth Strategies Adopted  by the Key Players
Figure 2.2:    Percentage Share of Strategies Adopted by the Market Players,  January 2015-October 2018
Figure 2.3:    Partnerships, Agreements, and Contracts Adopted by Key Market Players, January 2015-October 2018
Figure 2.4:    Product Launches by the Key Market Players, January 2015-October 2018
Figure 2.5:    Mergers and Acquisitions Adopted by the Key Market Players,  January 2015-October 2018
Figure 2.6:    Other Developments by the Key Market Players, January 2015-October 2018
Figure 2.7:    Global Small Launch Vehicle Market: Market Share Analysis, 2017
Figure 2.8:    Small Launch Vehicle: Competitive Benchmarking
Figure 3.1:    Evolution of Small Launch Vehicles: 2010-2018
Figure 3.2:    Small Launch Vehicle: Value Chain Analysis
Figure 3.3:    Focus Areas for SLV Designing
Figure 3.4:    Small Launch Vehicle: Manufacturing Process Steps
Figure 4.1:    Global Small Launch Vehicle Market, 2017-2028
Figure 4.2:    Global SLV Launches Realistic and Optimistic Scenario, 2017-2028
Figure 5.1:    Classification of Global Small Launch Vehicle Market (by Payload Range),  Market Share (%) 2017
Figure 5.2:    Global Small Launch Vehicle Market (by Payload Range), 2017-2028
Figure 5.3:    Global Small Launch Vehicle Market (by < 20 kg Payload Range), 2020-2028
Figure 5.4:    Global Small Launch Vehicle Market (by 20 kg – 150 kg Payload Range), 2017-2028
Figure 5.5:    Global Small Launch Vehicle Market (by 151 kg – 500 kg Payload Range), 2017-2028
Figure 5.6:    Global Small Launch Vehicle Market (by 501 kg – 1,200 kg Payload Range), 2017-2028
Figure 5.7:    Global Small Launch Vehicle Market (by 1,201 kg – 2,200 kg Payload Range), 2017-2028
Figure 6.1:    Global Small Launch Vehicle Market (by End User), 2017
Figure 6.2:    Classification of Global Small Launch Vehicle Market (by End User)
Figure 6.3:    Global Small Launch Vehicle Market (by End User), 2017 and 2028
Figure 6.4:    Global Small Launch Vehicle Market (by Academic End User), 2017-2028
Figure 6.5:    Global Small Launch Vehicle Market (by Commercial End User), 2017-2028
Figure 6.6:    Global Small Launch Vehicle Market (by Government End User), 2017-2028
Figure 6.7:    Global Small Launch Vehicle Market (by Commercial End User), 2017-2028
Figure 6.8:    Global Small Launch Vehicle Market (by Non-Profit Organization End User),  2023-2028
Figure 7.1:    Classification of Global Small Launch Vehicle Market (by Region)
Figure 7.2:    Global Small Launch Vehicle Market (by Region), 2017 and 2028
Figure 7.3:    North America Small Launch Vehicle Market Size, 2017-2028
Figure 7.4:    Europe Small Launch Vehicle Market Size, 2017-2028
Figure 7.5:    Asia-Pacific Small Launch Vehicle Market Size, 2017-2028
Figure 7.6:    Rest-of-the-World Small Launch Vehicle Market Size, 2017-2028
Figure 8.1:    Small Launch Vehicle – Share of Different Components in Overall Cost  per Launch, 2018
Figure 8.2:    Components of SLV - Cost per Launch Share (%), 2017-2028
Figure 8.3:    Propulsion Systems Technological Roadmap, 2010-2035
Figure 8.4:    Benefits and Challenges of 3D Printing
Figure 8.5:    Reusable SLV Market - Determining Factors
Figure 9.1:    Global Small Satellite Market, 2017-2023
Figure 9.2:    Global Small Satellite Market, 2017-2023
Figure 9.3:    Expected Launches with Rideshare and Dedicated Launch Vehicle, 2017-2023
Figure 9.4:    Expected Small Launch Vehicles by 2021
Figure 9.5:    Expected Small Launch Vehicles by 2023
Figure 10.1:    Share of Key Company Profiles
Figure 10.2:    Arianespace - Product Offerings
Figure 10.3:    Arianespace - Facts & Figures
Figure 10.4:    Arianespace - SWOT Analysis
Figure 10.5:    Blue Origin: Product Offerings
Figure 10.6:    Blue Origin - SWOT Analysis
Figure 10.7:    China Aerospace Science and Technology Corporation: Product Offerings
Figure 10.8:    China Aerospace Science and Technology Corporation - Overall Financials, 2015-2017
Figure 10.9:    China Aerospace Science and Technology Corporation: Revenue (by Business Segment), 2015-2017
Figure 10.10:    China Aerospace Science and Technology Corporation: Share in Overall Revenue (by Region), 2015-2017
Figure 10.11:    China Aerospace Science and Technology Corporation - SWOT Analysis
Figure 10.12:    CubeCab - SWOT Analysis
Figure 10.13:    EUROCKOT Launch Services GmbH - Product Offerings
Figure 10.14:    EUROCKOT Launch Services GmbH - SWOT Analysis
Figure 10.15:    IHI Corporation - Product Offerings
Figure 10.16:    IHI Corporation Overall Financials, 2015-2017
Figure 10.17:    IHI Corporation - Revenue (by Business Segment), 2015-2017
Figure 10.18:    IHI Corporation - Revenue (by Geography), 2015-2017
Figure 10.19:    IHI Corporation - Revenue (by Geography), 2015-2017
Figure 10.20:    Interorbital Systems - Product Offerings
Figure 10.21:    Interorbital Systems - SWOT Analysis
Figure 10.22:    Israel Aerospace Industries Ltd.: Product Offerings
Figure 10.23:    Israel Aerospace Industries Ltd. – Overall Financials, 2015-2017
Figure 10.24:    Israel Aerospace Industries Ltd. – Revenue (by Business Segment), 2015-2017
Figure 10.25:    Israel Aerospace Industries Ltd.: SWOT Analysis
Figure 10.26:    Lockheed Martin Corporation: Product Offerings
Figure 10.27:    Lockheed Martin Corporation - Overall Financials, 2015-2017
Figure 10.28:    Lockheed Martin Corporation - Revenue (by Business Segment), 2015-2017
Figure 10.29:    Lockheed Martin Corporation - Revenue (by Geography), 2015-2017
Figure 10.30:    Lockheed Martin Corporation: SWOT Analysis
Figure 10.31:    Mitsubishi Heavy Industries, Ltd. - Product Offerings
Figure 10.32:    Mitsubishi Heavy Industries, Ltd. - Overall Financials, 2015-2017
Figure 10.33:    Mitsubishi Heavy Industries, Ltd. – Revenue (by Business Segment),  2016 and 2017
Figure 10.34:    Mitsubishi Heavy Industries, Ltd. - Revenue (by Business Segment), 2015
Figure 10.35:    Mitsubishi Heavy Industries, Ltd. - Revenue (by Geography), 2015-2017
Figure 10.36:    Mitsubishi Heavy Industries, Ltd. - SWOT Analysis
Figure 10.37:    Northrop Grumman Corporation - Product Offerings
Figure 10.38:    Northrop Grumman Corporation - Overall Financials, 2015-2017
Figure 10.39:    Northrop Grumman Corporation – Revenue (by Business Segment), 2015-2017
Figure 10.40:    Northrop Grumman Corporation Revenue (by Geography), 2015-2017
Figure 10.41:    Northrop Grumman Corporation - SWOT Analysis
Figure 10.42:    Rocket Lab USA, Inc.: Product Offerings
Figure 10.43:    Rocket Labs USA, Inc. - SWOT Analysis
Figure 10.44:    SpaceX Exploration Technologies Corp.: Product Offerings
Figure 10.45:    SpaceX - SWOT Analysis
Figure 10.46:    Spacefleet Ltd - SWOT Analysis
Figure 10.47:    The Boeing Company - Product Offerings
Figure 10.48:    The Boeing Company - Overall Financials, 2015-2017
Figure 10.49:    The Boeing Company: Revenue (by Business Segment), 2015-2017
Figure 10.50:    The Boeing Company: Share in Overall Revenue (by Region), 2015-2017
Figure 10.51:    The Boeing Company - SWOT Analysis
Figure 10.52:    Virgin Orbit - SWOT Analysis
Figure 10.53:    Vector Launch - Product Offerings
Figure 10.54:    Vector Launch - SWOT Analysis
Figure 11.1:    Global Small Launch Vehicle Market Segmentation
Figure 11.2:    Secondary Data Sources
Figure 11.3:    Top Down and Bottom Up Approach
Figure 11.4:    Small Launch Vehicle Market Influencing Factors
Figure 11.5:    Assumptions and Limitations

Launch vehicles are an important aspect of the global space industry as they carry satellites into the required orbits. The U.S., China, Japan, France, and India are few of the dominant countries that have developed launch vehicles across different categories, such as small launch vehicle, medium launch vehicle, heavy launch vehicle, and super-heavy launch vehicle, which deliver payloads for communication, earth observation, and remote sensing, among others. 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 small launch vehicle market over the coming years.

Small launch vehicles (SLVs) are defined as those with a payload capacity of less than 2,200 kg, mainly developed and designed to cater to the small satellite market. The major factors differentiating SLVs from conventional heavy launch vehicles are the performance of the vehicle that depends on how much payload the vehicle can lift to a certain orbit and the price of the launch. With the increase in the capabilities of small satellites, the space industry is developing strategic utility, thus, motivating various stakeholders including government, space agencies and private companies, to develop dedicated and next-generation small satellite launch vehicles.

Some of the key players in the global SLV market include Arianespace, CubeCab, EUROCKOT Launch Services GmbH, IHI Corporation, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Mitsubishi Heavy Industries, Ltd., Orbital ATK, Inc., Rocket Lab USA, Inc., Space Exploration Technologies Corp., Spacefleet Ltd., and The Boeing Company. These companies are aiming for a wide range of product launches and collaborations to expand their operations and to prevent new companies from becoming future competitors. At the same time, a number of startup companies are venturing into the market to provide launching solution to varied end users, including academic, commercial, government, defense, and non-profit organizations.

FIGURE 1 GLOBAL SMALL LAUNCH VEHICLE MARKET, 2017-2028

Global Small Launch Vehicle Market

Source: Expert Interviews, Secondary Research and BIS Research Analysis  

The preceding figure illustrates the increasing number of SLV launches and revenue generation of the global small launch vehicle market over the years. The market reported a revenue of $341.2 million in 2017 and is expected to grow at a significant CAGR during the forecast period 2018-2028. The global small launch vehicle market has been segmented into five end-users: academic, commercial, government, defense, and non-profit organization. The government end-user segment acquired the largest share in 2017; however, academic end-user segment is expected to grow at the highest CAGR during the forecast period, 2018-2028. In addition, the global small launch vehicle market is also classified depending upon the payload, such as < 20 kg, 20 kg - 150 kg, 151 kg - 500 kg, 501 kg – 1,200 kg, and 1,201 kg – 2,200 kg. The 1,201 kg – 2,200 kg payload range had the highest penetration in the market in 2017, however, the 501 kg – 1,200 kg payload range market is estimated to grow at the highest CAGR during the forecast period, 2018-2028.

Asia-Pacific accounted for the highest share of the market in 2017, owing to the maximum number of small launch vehicle launches. However, North America is expected to witness the highest growth during the forecast period, 2018-2028, mainly driven by continued efforts of the private players and DARPA in development of satellite technologies to transform the national economy and strengthen security.

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