United States Unveils Reusable Space Exploration

Reusable launch vehicle market to reach $3.56 Bn in 2035

PORTLAND, OREGON, UNITED STATES, April 28, 2023 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Reusable Launch Vehicle Market,” The reusable launch vehicle market is expected to be valued at $1.38 billion in 2025, and is projected to reach $3.56 billion by 2035, growing at a CAGR of 10.3% from 2026 to 2035.

In 2025, North America is expected to dominate the market, in terms of revenue, followed by Asia-Pacific, Europe, and LAMEA. The global reusable launch vehicle market is projected to expand due to increased innovation, and reduced launch costs and the development of automation technologies during the forecast period. Space launch costs have been reduced by the advancement in rocket technology such as the development of reusable rocket. For instance, in April 2021, SpaceX successfully launched humans into space aboard a reused Falcon 9 rocket. The mission also involved reuse of Dragon spacecraft. Development of reusable rocket technologies has increased the affordability of launch services, which further increases the adoption of carrier rockets across the world.

There are prominent key factors that drive growth of the reusable launch vehicle market, such as rise in space exploration missions from private sector, and increase in government investment in space exploration activities. Moreover, rise in need for launch services from developing countries is also responsible for growth of the market. In addition, rise in the defense budget has enabled governments of various countries to enter into agreements with space launch vehicles manufacturers to deploy government defense payloads such as spy satellites into the space provide an opportunity for the market.

The reusable launch vehicle market is segmented basis of vehicle weight, reusable type, configuration, application, type, landing system and region. By vehicle weight, it is divided into Up to 4000 lbs, 4000 to 9000 lbs, and over 9000 lbs. By reusable type, it is segmented into partially reusable, and fully reusable. By configuration, it is divided into single stage, and multi stage. By application, the market is divided into commercial, and defense. By type, it is divided into orbital, and sub orbital. By application, the market is divided into braking, horizontal, vertical, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA.

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COVID-19 Impact Analysis

The COVID-19 impact on the reusable launch vehicle market is unpredictable, and is expected to remain in force for a few years.
Due to revenue crunch and rise in maintenance costs were two of the major challenges adversely affecting the rocket and space launch vehicle manufacturers. Furthermore, the reduced GDP of major economies such as the U.S., UK, China, France, India, Germany, and others in 2020 was anticipated a drop in investment in the aerospace and defense industry.
Moreover, the start-ups are particularly vulnerable to the COVID-19 crisis, major concern of start-ups in the space industry is the lack of visibility of future contacts with clients. Furthermore, the restrictions on international travel and cancellations of conferences and trade fairs also make tasks much more difficult to make new business deals. For instance, in March 2020, OneWeb, a company that develops services for satellite broadband in the low-earth orbit, has filed for bankruptcy protection after its failure to raise funds for completing its constellation. Further, a German survey specifically targeting space start-ups reveals that almost 40% of respondent’s companies reported the impacts of COVID-19 are threatening the existence of their firm and 80% of surveyed start-ups reported existing government support measures insufficient.
The reduction in aerospace and defense spending has had a negative impact on space launch vehicle development and deployment plans, particularly reusable launch vehicles.
However, post pandemic, the satellite industry saw a huge increase in demand, which also resulted in rise in demand for space carrier rockets or launchers. Furthermore, the governments around the globe have increased their focus on space as a priority either for space exploration or for the national defense. For instance, the space industry across the world has launched more than 1,200 satellites in 2020, which is more than in any other past years. These developments are expected to boost the growth of the reusable launch vehicle market in near future.

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KEY FINDINGS OF THE STUDY

By vehicle weight, the up to 4000 lbs segment is expected to register a significant growth during the forecast period.
By reusable type, the fully reusable segment is expected to register a significant growth during the forecast period.
By configuration, the single stage segment is expected to register a significant growth during the forecast period.
By application, the defense segment is projected to lead the global reusable launch vehicle market during the forecast period.
By type, the sub orbital segment is projected to lead the global reusable launch vehicle market during the forecast period.
By landing system, the braking segment is projected to lead the global reusable launch vehicle market during the forecast period.
Region-wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

Key players that operate in this reusable launch vehicle market include ArianeGroup, Blue Origin, China Academy of Launch Vehicle Technology, European Space Agency, Galactic Energy, ISRO, I-space (Beijing Interstellar Glory Space Technology Co., Ltd.), LinkSpace Aerospace Technology, Group, National Aeronautics and Space Administration (NASA), NPO-Energia (S.P. Korolev Rocket and Space Public Corporation), Orbex, PLD Space, Relativity Space, Rocket Lab USA, Inc., State Space Corporation, ROSCOSMOS, SpaceX, and United Launch Alliance, LLC.

David Correa
Allied Analytics LLP
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