Reusable Launch Vehicle Global Market Report 2024

A reusable launch vehicle is a type of launch vehicle that is designed to be launched more than once, significantly reducing launch costs and making space access more accessible. These vehicles are built to return to Earth without sustaining damage, or they may have retrievable stages that can be reused in future launches, creating a more cost-effective approach to space transportation.

The main types of reusable launch vehicles are partially reusable launch vehicles and fully reusable launch vehicles. Partially reusable launch vehicles allow for the reuse of specific components, typically the first stage, resulting in overall launch cost savings of 30% to 40%. Reusable launch vehicles can be configured for different orbits, such as Low Earth Orbit (LEO) and Geosynchronous Transfer Orbit (GTO), and they are classified based on their payload capacity, including multiple weight categories such as up to 6,000 lbs, 6,000 to 10,000 lbs, and over 10,000 lbs. These vehicles can be configured as single-stage or multi-stage rockets. Applications for reusable launch vehicles span both commercial and defense sectors.

The reusable launch vehicle market research report is one of a series of new reports that provides reusable launch vehicle market statistics, including reusable launch vehicle industry global market size, regional shares, competitors with a reusable launch vehicle market share, detailed reusable launch vehicle market segments, market trends and opportunities, and any further data you may need to thrive in the reusable launch vehicle industry. This reusable launch vehicle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The reusable launch vehicle market size has grown rapidly in recent years. It will grow from $2.08 billion in 2023 to $2.33 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth observed in the historic period can be attributed to various factors, including efforts to reduce costs in space launches, the expansion of the space industry, the development of spaceport infrastructure, increasing considerations for environmental impact, and initiatives aimed at mitigating space debris

The reusable launch vehicle market size is expected to see rapid growth in the next few years. It will grow to $3.57 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The anticipated growth in the forecast period can be attributed to various factors, including the increased payload capacity of reusable launch vehicles, the establishment of global spaceports, the involvement of government space programs, the development of satellite internet networks, and the exploration of interplanetary missions. Key trends expected in the forecast period include the boom in space tourism, the deployment of commercial satellite mega-constellations, the achievement of rapid turnaround in launch operations, the intensification of global competition in the launch market, and the advancement of heavy-lift reusability capabilities.

The growth of the reusable launch vehicle market is anticipated to be driven by the increasing number of satellite launches. Satellite launches involve sending satellites into space, and the use of reusable launch vehicles can significantly reduce the associated costs. According to the Government Accountability Office's report in September 2022, there are nearly 5,500 active satellites in orbit, with an estimated additional 58,000 launches expected by 2030. This surge in satellite launches is a key factor propelling the growth of the reusable launch vehicle market.

Another factor contributing to the growth of the reusable launch vehicle market is the expanding space economy. The space economy encompasses various economic activities related to space exploration, development, and utilization. The growth of the space economy creates a favorable environment for the development and increased utilization of reusable launch vehicles, making space more accessible and cost-effective. In 2021, the global space economy generated $386 billion in revenue, marking a 4% increase from 2020 and highlighting the significant role of the space economy in driving the reusable launch vehicle market.

A notable trend in the reusable launch vehicle market is the emphasis on technological advancement. Major companies in this sector are focusing on developing technologically advanced reusable launch vehicles to maintain their competitive edge. For example, ArianeGroup, a France-based aerospace company, launched Susie (Smart Upper Stage for Innovative Exploration) in September 2022. Susie is a versatile and modular vehicle designed for space tasks, featuring a large internal bay suitable for transporting payloads or crewed flights. This technological innovation aims to enhance reuse opportunities and reduce operational costs in the reusable launch vehicle market.

Strategic partnerships are playing a crucial role in the development and utilization of reusable launch vehicles. Major companies in the market are entering into strategic partnerships to advance the accessibility and cost-effectiveness of space travel. In August 2023, iRocket, a US-based reusable small launch vehicle manufacturer, partnered with the Air Force Research Laboratory (AFRL). This collaboration provides iRocket exclusive access to a test facility at Edwards Air Force Base, allowing for joint efforts on reusable rocket development. The $18 million project includes the construction of test stands, engine testing, and a demonstration launch.

In August 2021, Vector Acquisition Corporation, a US-based financial services company, merged with Rocket Lab, a company specializing in reusable launch vehicles. This merger aims to support future space applications and expand activities in the Space Systems ecosystem, emphasizing the strategic role of partnerships in shaping the reusable launch vehicle market.

Major companies operating in the reusable launch vehicle market include LinkSpace Aerospace Technology Group, Blue Origin LLC, National Aeronautics and Space Administration, Indian Space Research Organisation, Space Exploration Technologies Corp., The Boeing Company, United Launch Alliance, European Space Agency, Ariane Group, German Aerospace Center, Relativity Space, Galactic Energy Aerospace Technology, Beijing Interstellar Glory Space Technology Co. Ltd., Payload Aerospace S.L., Bellatrix Aerospace Pvt. Ltd., Lockheed Martin Corporation, Rocket Labs USA Inc., The Spaceship Company, Virgin Galactic Holdings Inc., Sierra Nevada Corporation, Reaction Engines Ltd., Boeing HorizonX Ventures, Firefly Aerospace Inc., Astra Space Inc., Vector Space Systems Inc., Rocket Crafters Inc., Generation Orbit Launch Services, Orbital Sciences Corporation, XCOR Aerospace Inc., Blue Canyon Technologies Inc., Masten Space Systems, Stratolaunch Systems Corp., Interorbital Systems, Exos Aerospace Systems & Technologies Inc., Space Tango Inc., Spaceflight Industries Inc., NanoRacks LLC, Made In Space Inc., Planetary Resources Inc., Bigelow Aerospace LLC

North America was the largest region in the reusable launch vehicle market in 2023. North America is expected to be the fastest growing region in the forecast period. The regions covered in the reusable launch vehicle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the reusable launch vehicle market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

The reusable launch vehicle market consists of sales of satellites, spacecraft, spaceships, and rockets. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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