Global Commercial Satellite Launch Service Market was valued US$ 5.41 Bn in 2018 and is estimated to reach US$ XX Bn by 2026 at a CAGR of about XX % during a forecast period.
Global Commercial Satellite Launch Service Market
Commercial Satellite Launch Service is segmented by orbit, size, application, and geography. Based on orbit market is divided into LEO, MEO, GEO, HEO. Size are classified as large, medium, small and micro. Applications are Navigational, Communication, Reconnaissance, Weather Forecasting, and Remote Sensing. Region wise into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
The demand for satellite-based telemetry applications is further contributing to the growth of the Global Commercial Satellite Launch Service Market. Financial investment remains the bottleneck for the commercial satellite launch services market size. Launch failures, supply chain issues, and quality control problems may negatively impact the industry size over the forecast time frame. Moreover, Oil and Gas companies across the globe use vehicle tracking systems for their official vehicles and tankers to locate their vehicles and maintain transparency. Furthermore, with the growing demand for satellites, prices are anticipated to decline, resulting in a strengthening of the Global Commercial Satellite Launch Service Market size.
Based on the orbit segment, LEO is expected to have a higher growth rate in the current forecast period. This growth can be credited to low initial launch cost as compared to other orbits, less time to deploy and compact sized commercial satellite. LEOs are a positive step toward providing connectivity to remote areas as well.
On the basis of size, the Micro segment of the commercial satellite launch service market share is expected to pose a CAGR of more than 7% over the forecast period. Growth can be attributed to the continuous developments improving reliability and affordability of the launch vehicles.
In terms of geography, North America held the highest commercial satellite launch service market share in 2017 and is expected to have a higher growth rate in the forecast period. This can be credited to robust infrastructure available in the region for developing new space programs by organizations such as NASA and SpaceX. The increasing number of navigation and communication satellites for locating destinations and data usage is significantly contributing towards the regional growth of the Commercial Satellite Launch Service Market.
Some of the key players in the commercial satellite launch service market are Space Exploration Technologies Corp., Lockheed Martin Corporation, Boeing, Orbital ATK, Inc., Airbus S.A.S., Arianespace SA, and Axelspace Corporation.
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The scope of Global Commercial Satellite Launch Service Market
Global Commercial Satellite Launch Service Market, by Orbit
• LEO
• MEO
• GEO
• HEO
Global Commercial Satellite Launch Service Market, by Size
• Large
• Medium
• Small
• Micro
Global Commercial Satellite Launch Service Market, by Application
• Navigational
• Communication
• Reconnaissance
• Weather Forecasting
• Remote Sensing
Global Commercial Satellite Launch Service Market, by Geography
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America
Key Players operating in Global Commercial Satellite Launch Service Market
• Airbus S.A.S.
• Arianespace S.A.
• Axelspace Corporation
• Boeing
• Lockheed Martin Corporation
• Orbital ATK
• Space Exploration Technologies
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