According to Fortune Business Insights, the global satellite launch vehicle market was valued at USD 426.54 billion in 2024 and is projected to grow from USD 442.33 billion in 2025 to USD 571.83 billion by 2032, exhibiting a CAGR of 3.7% during the forecast period.

The market is set to grow significantly due to the increasing demand for satellite deployments in commercial, military, and civil applications, coupled with advancements in reusable technologies, miniaturized satellite designs, and AI integration.

Key Companies Profiled

• Airbus S.A.S (Netherlands)
• Arianespace (France)
• The Boeing Company (U.S.)
• Rocket Lab (U.S.)
• Mitsubishi Heavy Industries, Ltd. (Japan)
• Northrop Grumman (U.S.)
• Lockheed Martin Corporation (U.S.)
• Blue Origin Enterprises, L.P. (U.S.)
• SpaceX (U.S.)
• ISRO (India)

Information Source: https://www.fortunebusinessinsights.com/satellite-launch-vehicle-market-111955

Market Segmentation

By Vehicle Technology:

The reusable launch vehicle (RLV) segment is projected to witness the fastest growth during the forecast period. This is primarily driven by its cost-efficiency, mission flexibility, and the ability to be reused for multiple launches, significantly reducing overall expenses. A notable development includes the approval of the Next Generation Launch Vehicle (NGLV) by ISRO in September 2024. The NGLV aims to be an economical and high-capacity vehicle designed for future space missions, reinforcing India’s ambitions in space exploration.

By Orbit Type: