Reusable Launch Vehicles Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2020-2024
Technavio has been monitoring the reusable launch vehicles market and it is expected to grow by $ 699.81 mn, accelerating at a CAGR of almost 10% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report
Reusable Launch Vehicles Market: Key Trends to impact market growth
The rising adoption of reusable technology by military forces is one of the key reusable launch vehicles market market trends. This research report provides a detailed impact analysis of all the trends that are likely to influence the growth of the market in focus.
Reusable Launch Vehicles Market: Top Drivers to Boost Demand
The adoption of deep space habitat concepts is one of the primary factors driving the growth of the reusable launch vehicles market. The report provides a detailed study of all the factors that are likely to boost the market. This analysis will enable clients to leverage growth opportunities to their advantage and set their business
Vendor Analysis: Airbus SE, Bellatrix Aerospace Pvt. Ltd. and China Aerospace Science and Technology Corp. are key growth contributors
The market is concentrated. The research report provides insights into the top market player and their product portfolio along with a pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Airbus SE, Bellatrix Aerospace Pvt. Ltd., China Aerospace Science and Technology Corp., Indian Space Research Organisation, Kistler Space Systems, Lockheed Martin Corp., Safran SA, Space Exploration Technologies Corp., The Boeing Co., and Virgin Galactic Holdings Inc. are some of the major market participants.
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Reusable Launch Vehicles Market: Key Highlights of the Report for 2020-2024
Technavio has been monitoring the global reusable launch vehicles market and it is expected to grow by USD 699.81 million accelerating at a CAGR of over 10% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report
Reusable Launch Vehicles Market: Segmentation by Geography
North America was the largest Reusable Launch Vehicles Market in 2019 and the region is expected to offer several growth opportunities to market vendors during the forecast period. Factors such as advanced infrastructures, the increasing involvement in various space-based programs, and the rising focus on multiple satellite launch missions to meet the growing demand for satellites will drive reusable launch vehicles market growth over the forecast period. 45% of the market’s growth will originate from North America with the US being one of the key markets for reusable launch vehicles in North America. Market growth in this region will be slower than the growth of the market in APAC.
One of the key market trends is the rising adoption of reusable technology by military forces. The cost advantages associated with the use of reusable launch vehicles will encourage defense authorities to focus on the development and use of these vehicles for launching satellites and rocket systems. Boeing has already signed a contract with the Defense Advanced Research Projects Agency (DARPA) of the US to develop the Experimental Spaceplane (XS-1) program.
The adoption of deep space habitat concepts will drive the growth prospects for the market until the end of 2024. This implementation of deep space concepts will encourage the development of astronaut habitation capabilities in areas near the moon by adopting low earth orbit commercial technologies. The introduction of long-duration space habitats by NASA involves cargo supplies from the earth, which will enable human beings to live and work independently. Partners in NASA’s NextSTEP program such as Bigelow Aerospace, Boeing, Lockheed Martin, Orbital ATK, Sierra Nevada Corporation’s Space Systems, and NanoRacks are focusing on the development of ground prototypes and are conducting concept studies for deep space habitats. This, in turn, will significantly increase the application and adoption of reusable launch vehicles in the coming years.
Reusable Launch Vehicles Market: Vendor Analysis
The market is concentrated. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Airbus SE, Bellatrix Aerospace Pvt. Ltd. and China Aerospace Science and Technology Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio offers custom research reports with detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report
