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In the recent years, launch vehicle market has been undergoing a major evolution in technologies, which is replacing the traditional approach of deploying complex, large, and costly launch vehicles. Launch vehicle manufacturers are now focusing on designing and developing smaller, less complex, reusable, and cost efficient effective launch vehicle, which is facilitated by the growth of small satellites, and in particular, SLVs. SLVs and new derivatives being developed for use in the near future, mainly consists of reliable technologies to launch various payloads into space. However, new technologies in SLVs are being introduced, such as a reusable first stages, which are influenced by customers’ demand for lower cost launches and flexibility in availability of space and payload range.
The global SLV market in terms of value was $XX million in 2017 and is estimated to be $XX million in 2028 growing at a CAGR of XX% during the forecast period, 2018-2028. In 2017, XX launches took place by several SLVs such as Vega, Minotaur C, KT-2, and Long March 6 among others. During the forecast period, it is anticipated that XX SLV launches will take place by 2028.
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