The demand from satellite end users and manufacturers is high compared to the supply of manufactured launch vehicles. The supply-demand gap is anticipated to increase the number of new entrants in the global medium and heavy-lift launch vehicle market.
BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Medium and Heavy-Lift Launch Vehicle Market – A Global and Regional Analysis.
According to this study, the market size of the global medium and heavy lift launch vehicles was valued at $6.45 billion in 2021 and is projected to reach $9.75 billion by 2032.
The following factors are responsible for the increase in demand for medium and heavy-lift launch vehicles:
The detailed study is a compilation of 57 market data tables and 17 figures spread through 149 pages.
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Analyst’s Take on the Market Projection
According to Arunkumar Sampathkumar, Principal Analyst, BIS Research, “The global medium and heavy-lift launch vehicle market is observing an increase in government spending toward launch vehicles subsystem and component manufacturing. A steadily growing number of satellite operators in the space industry is accelerating the global medium and heavy-lift launch vehicle market. Moreover, the launch service industry is experiencing significant changes owing to a shift toward dedicated launch services from the rideshare missions. The growing demand for dedicated launch services also supports the growth of the global medium and heavy-lift launch vehicle market.”
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Existing Competitive Landscape
The companies that are profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are
Recent Developments in the Global Medium and Heavy-Lift Launch Vehicle Market
Asia-Pacific to Dominate the Market During the Forecast Period of 2022 and 2032
In 2021, the contribution of the Asia-Pacific region to the global medium and heavy-lift launch vehicle market was valued at $4.18 billion. The market in the region is expected to increase the most globally by the end of 2032.
According to the study conducted by BIS Research, the market growth is attributed to the presence of China, India, and Japan and the impending need for satellite launches, re-supply missions, space exploration, and plans to build its own space stations. Cost-effective launch service is another major factor contributing to the region’s market growth.
The increasing space budgets of China, India, and Japan are further proliferating the Asia-Pacific medium and heavy-lift launch vehicle market.
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