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 expansion is fueled by the rising demand for satellite deployments in commercial, military, and civil applications, alongside advancements in reusable launch technologies, miniaturized satellite designs, and AI integration.

The demand for satellite launch vehicles is accelerating due to the increasing role of satellites in communication, navigation, Earth observation, weather forecasting, and defense. Modernization of platforms, digital transformation, and ongoing innovations are reshaping the market landscape. For instance, in November 2024, Boeing delivered two additional O3b mPOWER satellites for SES, showcasing advanced software-controlled payload technology for flexible bandwidth allocation.

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)

Major players such as SpaceX, United Launch Alliance, ISRO, NASA, and CASC are contributing significantly to market growth through technological advancements and increasing satellite launch frequency.

Information Source:

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

Market Segmentation

By Vehicle Technology