A reusable launch vehicle is a launch system that can launch a payload into the space more than only once. The mechanism of reusable launch vehicles contrasts with that of expandable launch vehicles, in which each of the launch vehicles are launch once and are then discarded. These vehicles are being currently developed and deployed by satellite operators for reducing satellite launch costs. The satellite industry has been witnessing various developments in the recent years, driven by rapid technological advancement. Reusable launch vehicles are thus being developed for cutting down costs related to satellite development and their launching.
The global reusable launch vehicles market can be segmented on the basis of types and geography. Based on types, the global market is bifurcated into fully reusable launch vehicles and partially reusable launch vehicles. In 2016, the partially reusable launch vehicles segment dominated the market and is expected to retain its position throughout the period of forecast. The growth of this segment is strongly driven by the preference of operators in the satellite industry towards these vehicles over the fully reusable launch vehicles. The growth of this segment is projected to increase during the forecast period as the investments associated with launching these vehicles is quite low when compared to the fully reusable ones.
The geographical split of the market includes North America, Asia Pacific (APAC), Europe, South America, and Middle East and Africa (MEA). North America held the largest regional market share in the global reusable launch vehicles market in 2016. The major countries in North America such as the U.S., Mexico and Canada are increasingly involved in several space based programs and have highly developed and advanced infrastructure. The demand for reusable satellite launch vehicles is expected to witness substantial growth in this region during the forecast period and this can be primarily attributed to eminent space centers such as SpaceX and Nasa growing focus on multiple satellite launch missions for meeting the rising demand for satellites. Thus, North America is anticipated to maintain its dominance in the global market throughout the forecast period. However, Asia Pacific is set witness rapid growth in the coming years and is thus a lucrative market for reusable launch vehicles. This region is Asia Pacific is expected to be the major markets by the end of the forecast period. Rapidly developing battlefield scenarios coupled with technological advancements are some of the key factors that are boosting the growth of the reusable launch vehicles market Asia Pacific. Further, rising defense budgets in APAC countries such as China and India is also fuelling the market growth in this region.
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The global reusable launch vehicles market is characterized by the presence of various local, regional and global players and is highly competitive in nature. The players operating in the reusable launch vehicles market are competing with one another increasingly on the basis of factors which include aftermarket service, reliability, cost, and product quality. For gaining a competitive edge in the global market, the players are increasingly focusing on enhancing their global footprint network by expanding their geographical presence, expanding their manufacturing capabilities and diversifying their product offering by investing heavily on their research and development activities. The report provides the market share analysis of the key industry participants operating in the industry. The global reusable launch vehicle market comprises a significant number of manufacturers. These players have been thoroughly profiled and their business outline, financial overview, business strategies and recent developments have been covered under the purview of the report. Some of the major players operating in the global reusable launch vehicles market include Airbus SE, The Boeing Company and Space Exploration Technologies Corporation. Other prominent players in the market are Bellatrix Aerospace, Virgin Galactic, Masten Space Systems and CALT among others.