Commercial Satellite Launch Service Market will exhibit 2.5% CAGR from 2018 to 2024

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Commercial Satellite Launch Service Market
Trends, Growth Forecast, 2018 - 2024
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Key Insights from Commercial Satellite Launch
Service Market

• Increasing usage of communication data-based
  services and GPS systems is driving the
  commercial satellite launch service market size
  over the forecast period. These services are
  adopted by various sectors such as Automotive,
  Electronics, Military, IT, among others.
  Increasing number of vehicles integrated with
  built-in navigation units will contribute majorly
  for launching additional satellites.
• Usage of smart devices and services for personal
  use such as Smart TVs, online streaming services,
  etc. accelerates the financial investments. High
  demand for weather forecasting software is
  witnessed such as AccuWeather, The Weather
  Channel, Yahoo Weather, Google Weather, etc.
  Schools and colleges across the globe are
  introducing new smart classes initiatives.
• The European Space Agency (ESA) is exploring
  alternatives to introduce micro launchers for
  various applications such as education,
  technology demonstration, telecoms, and earth
  observation. With this ESA aims to target
  companies with small satellites focusing on
  various mobile applications. However, the
  prohibitive cost of commercial satellite launch
  services is hindering the industry growth.

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Continued...

• LEO is likely to exhibit over 3 CAGR in the
  commercial satellite launch service market from
  2018 to 2024. This growth can be credited to low
  initial launch cost as compared to other orbits,
  less time to deploy and compact size commercial
  satellite. LEOs are a positive step towards
  providing connectivity to remote areas.
• The micro segment of the commercial satellite
  launch service market share is expected to pose a
  CAGR of more than 6 over the forecast period.
  This growth can be attributed to the continuous
  developments improving reliability and
  affordability of the launch vehicles.
• Reconnaissance commercial satellite launch
  service market size is expected to hold around
  36 of the revenue share by 2024. Introduction of
  new farming techniques such as precision farming,
  utilizing the satellite imagery for improving
  farming will play a key role for the industry
  growth.

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U.S. Commercial Satellite Launch Service Market,
By Orbit, 2017 2024, (USD Million)

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Major Companies in 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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Industry Coverage

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Regional Insights in Commercial Satellite Launch
Service Market

• North America was worth more than USD 2 billion
  in 2017 and is anticipated to dominate the
  commercial satellite launch service market share.
  This can be credited to robust infrastructure
  available in the region for developing new space
  programs by organizations such as NASA and
  SpaceX. Increasing number of navigation and
  communication satellites for locating
  destinations and data usage is significantly
  contributing towards regional growth of the
  commercial satellite launch service market.

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