Reusable Launch Vehicles Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 3.05 Billion |
| Market Size (2029) | USD 5.28 Billion |
| CAGR (2024 - 2029) | 11.65 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Reusable Launch Vehicles Market Analysis
The Reusable Launch Vehicles Market size is estimated at USD 3.05 billion in 2024, and is expected to reach USD 5.28 billion by 2029, growing at a CAGR of 11.65% during the forecast period (2024-2029).
The demand for satellite networks and commercial and defense application services has increased. This has resulted in a rise in satellite launches for military surveillance, communication, navigation, earth observation, and scientific research, among others. Space agencies and private companies have been trying to reduce the costs of satellite launching systems over the past few years. The primary driver for the reusable launch vehicle market is cost efficiency. Reusable launch vehicles offer significant cost savings over traditional rockets by enabling multiple launches with the same launch components. The cost-effectiveness makes space missions more affordable for governments, commercial end-users, and scientific research institutions.
Rapid advancement in space technology is driving innovation in launch vehicle design, materials, and propulsion systems. These technological advancements are enhancing the reliability, performance, and reusability of launch vehicles, leading to increased adoption in the market. There is a growing demand for space exploration and utilization due to advancements in satellite technology, increasing space tourism, and the quest for scientific discovery. Reusable launch vehicles play an important role in these applications by providing reliable and cost-effective access to space.
However, the initial investment and development costs for reusable launch vehicle technology are substantial. OEMs and governments are required to invest significant resources in research, development, and infrastructure to bring reusable launch vehicles to market, which can act as a market restraint. The space tourism industry represents a promising opportunity in the reusable launch vehicle market. With the increasing interest of private individuals in experiencing space travel, there is a growing market for reusable launch vehicles to transport passengers to suborbital and orbital destinations.
Reusable Launch Vehicles Market Trends
Fully Reusable Launch Vehicles to hold the Largest Market Share in 2023
Fully reusable launch vehicles offer significant cost savings compared to partial launch systems. With the capability to return to Earth and be refurbished for subsequent launches, these launch vehicles significantly reduce the expenses associated with manufacturing new rockets for each mission. Fully reusable launch vehicles are also preferred due to increasing concerns about environmental impact, as they present a more sustainable option for space exploration by minimizing the amount of waste produced during launches.
Fully reusable launch vehicles enable more frequent space missions by reducing turnaround times between launches. This accessibility opens up opportunities for more applications, including satellite deployment, space tourism, and scientific research. Moreover, there is a rise in investment and funding for OEMs developing fully reusable launch vehicles, indicating confidence in the fully reusable launch vehicle potential.
In October 2023, reusable rocket startup Stoke Space Technologies Inc. announced USD 100 million in new funding to finance the development of its first-stage rocket engine and the orbital version of its reusable second-stage rocket engine and pay for new construction at the Cape Canaveral Space Force Station. Stoke Space is developing next-generation space vehicles and technologies, including a fully reusable space launch vehicle called Nova.
The demand for fully reusable launch vehicles market is expected to surge, driven by advancements in technology, increasing demand for space exploration, and expanding commercial applications. As fully reusable launch vehicles become more reliable, they are likely to expand beyond traditional space missions to support new applications, such as space mining and interplanetary exploration.
Asia-Pacific is Expected to Register the Highest CAGR During the Forecast Period
China-based iSpace company has gradually increased its investments towards developing advanced technology for reusable launch vehicles. The company is currently developing Hyperbola-2, a 28-meter-tall, 3.35-meter-diameter liquid oxygen-methane launcher capable of launching more than 1,100 kgs of payload into a 500-kilometer Sun-synchronous orbit (SSO) or 800 kgs of payload when the first stage is to be recovered and reused. China is now eyeing new milestones as it aims to develop reusable rockets like SpaceX's Falcon-9. The next generation of launch vehicles will likely transport crew and cargo to the Tiangong space station.
Japan's aerospace industry has a strong international reputation, particularly in research and development (R&D). It has recently shifted its focus from R&D to commercializing space technology. Japan's aerospace industry is constantly developing and promoting its satellite systems, space development initiatives, transportation programs, and focusing on reusable launch vehicles.
The Indian Space Research Organization, ISRO, is developing RLV-TD, an eventual two-stage-to-orbit (TSTO) reusable launch vehicle, to lower the cost of access to space. Moreover, In September 2021, the Indian Space Research Organization (ISRO) announced that it was working on technologies that would enable it to land the GSLV Mk-III launch vehicles vertically, like what SpaceX is doing, and to recover the first and second stages. This will likely enable the space agency to reuse the GSLV Mk-III, thus helping it save money. Such developments are propelling the growth of the reusable launch vehicles market in the region.
Reusable Launch Vehicles Industry Overview
The reusable launch vehicles market is an intermediate market with a few key players accounting for a decent share of the market. ArianeGroup, Space Exploration Technologies Corp. (SpaceX), Indian Space Research Organization (ISRO), United Launch Alliance LLC (ULA), and National Aeronautics and Space Administration (NASA) are some of the prominent players in the market.
Players are expanding their geographical reach by winning worldwide contracts from emerging satellite operators. The market players are also investing significantly in the R&D of new RLVs. For instance, ISRO has been developing and testing its technologies through technology demonstrations like the Reusable Launch Vehicle Technology Demonstrator (RLV TD). The RLV TD is a hybrid vehicle that combines the technologies of an aircraft and launch vehicle, one on top of the other, to achieve a Two-stage to-orbit (TSTO) capability.
Similarly, SpaceX is also developing a next-gen, fully reusable heavy-lift rocket named Starship to carry humans and 100 tons of cargo to the moon and Mars. Such developments are expected to help the growth of the players in the years to come.
Similarly, SpaceX is also developing a next-gen, fully reusable heavy-lift rocket named Starship to carry humans and 100 tons of cargo to the moon and Mars. Such developments are expected to help the growth of the players in the years to come.
Reusable Launch Vehicles Market Leaders
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ArianeGroup
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Space Exploration Technologies Corp.
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Indian Space Research Organisation
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United Launch Alliance, LLC
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National Aeronautics and Space Administration
*Disclaimer: Major Players sorted in no particular order
Reusable Launch Vehicles Market News
February 2024: Galactic Energy is gearing up to launch for the first time its reusable rocket “Pallas-1” later in 2024. Pallas-1 will likely be the first rocket developed in China to reach orbit.
April 2023: the Indian Space Research Organisation (ISRO) successfully conducted the ‘Reusable Launch Vehicle Autonomous Landing Mission (RLV LEX)’ at the Aeronautical Test Range of the Defence Research and Development Organisation (DRDO). More experiments as part of the Reusable Launch Vehicle Autonomous Landing Mission (RLV LEX) are in the pipeline to ensure that the RLV succeeds in payload delivery to LEO, as ISRO plans to reduce the cost of the process by 80 percent.
May 2022: Orbex (UK) unveiled a prototype of its environmentally friendly small-satellite launch rocket, the Prime rocket. The reusable Prime rocket is the first micro-launcher developed in Europe.
January 2022: Ariane Group unveiled its new Rocket family with a reusable mini rocket. The company announced that it is developing the concept of a new European launcher family with a reusable first stage and a new mini launcher called Maia.
Reusable Launch Vehicles Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Partially Reusable
5.1.2 Fully Reusable
5.2 Configuration
5.2.1 Single-Stage
5.2.2 Multi-Stage
5.3 Geography
5.3.1 North America
5.3.1.1 North America
5.3.1.2 Canada
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Russia
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 India
5.3.3.3 Japan
5.3.3.4 South Korea
5.3.3.5 Rest of Asia-Pacific
5.3.4 Latin America
5.3.4.1 Brazil
5.3.4.2 Mexico
5.3.4.3 Rest of Latin America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 United Arab Emirates
5.3.5.3 Israel
5.3.5.4 South Africa
5.3.5.5 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 ArianeGroup
6.2.2 Space Exploration Technologies Corp
6.2.3 Indian Space Research Organisation (ISRO)
6.2.4 United Launch Alliance, LLC
6.2.5 National Aeronautics and Space Administration (NASA)
6.2.6 Blue Origin Enterprises, L.P.
6.2.7 LinkSpace Aerospace Technology, Group
6.2.8 China Aerospace Science and Technology Corp (CASC)
6.2.9 Deutsches Zentrum für Luft- und Raumfahrt e. V. (DLR)
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Reusable Launch Vehicles Industry Segmentation
A space launch system designed to recover all or part of the system post deploying a satellite in orbit is termed a reusable launch vehicle (RLV). The primary objective of an RLV is to drive down the associative launch costs of the satellites by successfully recovering exhausted critical systems and components. To depict a comprehensive outlook, the study incorporates a detailed analysis of yearly satellite launches and the models of launch vehicles used for orbital deployment. The study also considers the ongoing R&D efforts divested by the market players to develop new RLV variants.
The reusable launch vehicles market is segmented based on type, configuration, and geography. By type, the market is segmented into partially reusable and fully reusable. By configuration, the market is segmented into single-stage and multi-stage. The report also covers the market sizes and forecasts for the reusable launch vehicles market in major countries across different regions.
For each segment, the market size is provided in terms of value (USD).
| Type | |
| Partially Reusable | |
| Fully Reusable |
| Configuration | |
| Single-Stage | |
| Multi-Stage |
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Reusable Launch Vehicles Market Research FAQs
How big is the Reusable Launch Vehicles Market?
The Reusable Launch Vehicles Market size is expected to reach USD 3.05 billion in 2024 and grow at a CAGR of 11.65% to reach USD 5.28 billion by 2029.
What is the current Reusable Launch Vehicles Market size?
In 2024, the Reusable Launch Vehicles Market size is expected to reach USD 3.05 billion.
Who are the key players in Reusable Launch Vehicles Market?
ArianeGroup, Space Exploration Technologies Corp., Indian Space Research Organisation, United Launch Alliance, LLC and National Aeronautics and Space Administration are the major companies operating in the Reusable Launch Vehicles Market.
Which is the fastest growing region in Reusable Launch Vehicles Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Reusable Launch Vehicles Market?
In 2024, the North America accounts for the largest market share in Reusable Launch Vehicles Market.
What years does this Reusable Launch Vehicles Market cover, and what was the market size in 2023?
In 2023, the Reusable Launch Vehicles Market size was estimated at USD 2.69 billion. The report covers the Reusable Launch Vehicles Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Reusable Launch Vehicles Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Reusable Launch Vehicles Industry Report
Statistics for the 2024 Reusable Launch Vehicles market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Reusable Launch Vehicles analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Reusable Launch Vehicles Market Report Snapshots
