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2021

Carrier Rocket Market

Carrier Rocket Market Size, Share, Competitive Landscape and Trend Analysis Report by Payload Type (Cargo, Satellite, and Others), Payload Carrying Capacity (Less than 4 tons, 4 tons to 8 tons, and Above 8 tons), Range (LEO, MEO, GEO, and Others) and End User (Government, and Commercial): Global Opportunity Analysis and Industry Forecast, 2021-2030

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Author's: Mayank Halmare| Aditya Chandra | Sonia Mutreja
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Carrier Rocket Market Statistics 2021-2030:

The global carrier rocket market valued $9,243.2 million in 2020 and is projected to reach $25,429.9 million in 2030, registering a CAGR of 11.9%.

Carrier rockets are utilized in the transportation of cargo, satellite, and other payloads into space depending on the requirement of various industries such as telecommunication, space exploration, and defense industries, among others. The carrier rocket market has observed a significant rise in investment from government and commercial organizations owing to the evolution of satellite technology, and the rising need for launch services globally. In addition, rise in the defense budget has enabled governments of various countries to enter into agreements with carrier rocket manufacturers to deploy government defense payloads such as spy satellites into the space.

Carrier-Rocket-Market-2021-2030

The global carrier rocket market is projected to expand due to increased innovation, and reduced launch costs and the development of automation technologies during the forecast period. Carrier rocket costs have been reduced by the advancement in rocket technology such as the development of reusable rocket. For instance, in April 2021, SpaceX successfully launched humans into space aboard a reused Falcon 9 rocket. The mission also involved reuse of Dragon spacecraft. Development of reusable rocket technologies have increased the affordability of launch services which further increases the adoption of carrier rockets across the world.

The carrier rocket market is segmented into payload type, payload carrying capacity, range and end user. By payload type, the carrier rocket market is segmented into cargo, satellite, and others. On the basis of payload carrying capacity, the carrier rocket market has been segmented into less than 4 tons, 4 tons to 8 tons, and above 8 tons. By range, the carrier rocket market has been segmented into LEO, MEO, GEO, and others. On the basis of end user, the carrier rocket market is categorized into government and commercial. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key players operating in the carrier rocket market include Antrix Corporation Limited, Arianespace, Cubecab, IHI Corporation, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Northrop Grumman Corporation, Mitsubishi Heavy Industries, Ltd., Rocket Lab USA and SpaceX 

Carrier Rocket Market
By Payload Type
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Satellite is projected as the most lucrative segments

Increase in demand for small satellites for earth observation services 

Small satellite constellations can provide geometrical and considerably enhanced resolutions enabling analysis and forecast of earth’s environment by gathering Earth Observation (EO) data through optical imaging. Weather forecasting, agriculture, energy, infrastructures, the environment, mapping, military, and natural disaster prevention are a few of the applications of the earth observation missions through small satellites. Technological advancements have aided the development of tiny satellites weighing 1–500 kg. The advancement of cutting-edge commercial off-the-shelf (COTS), synthetic aperture radar (SAR), and hyperspectral imaging technology has made it possible to conduct important earth observation missions in innovative and less expensive methods. The growing need for small earth observation satellites has fuelled the demand for carrier rockets all around the world. For instance, SpaceX's Falcon 9 rocket delivered 88 tiny satellites into polar orbit in June 2021. Small satellites' improved flexibility encourages the use of small satellites for earth observation missions, as well as increasing demand for carrier rocket market in the predicted period.   

Carrier Rocket Market
By Payload Carrying Capacity
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Above 8 tons is projected as the most lucrative segments

Increase in Number of Space Expeditions 

The number of space expedition missions has increased in recent years as launch prices have decreased, technology has improved, and public interest in space exploration has grown. The missions of the space expeditions are mostly focused on human Low-Earth-Orbit missions and unmanned scientific research. In addition, the Space Force, which will be established as a sixth branch of the U.S. military in 2019, as well as increased interest from Russia and China, will boost public-sector investment in the space industry in the coming years. As part of the National Defense Authorization Act for 2020, the U.S. government formed a U.S. Space Command, which includes a Space Operations Force and a Space Development Agency, in December 2019. This development will most certainly benefit the U.S. Defense Department as well as the aerospace and defence sectors, allowing for more focused and faster investment in breakthrough technologies and capabilities. The need for carrier rockets to launch space expedition missions into orbit is on an increase with the rise in space expedition missions. For instance, in June 2020, the Chinese government announced the successful launch of its crewed spacecraft, which would carry three astronauts to the Tianhe core module of the International Space Station for a three-month mission. The Shenzhou-12 spacecraft was launched from the Jiuquan Satellite Launch Centre in northwest China's Gobi Desert using a Long March-2F carrier rocket.

The increase in government initiatives and private investments in space exploration missions majorly drives the carrier rocket market growth during the forecast period. 

Carrier Rocket Market
By Range
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LEO is projected as the most lucrative segments

High Cost Involved in the Development of Carrier Rocket 

Carrier rockets are a developed using sophisticated technologies and modern materials that are both strong and light, such as aerospace-grade aluminum or titanium. The cost of a carrier rocket is increased by the adoption of advanced technology and modern hardware, which limits carrier rocket development. For instance, Virgin Galactic's successful launch into space in July 2021 was valued $841 million. The spaceship was launched into orbit using Virgin Galactic's passenger rocket aircraft VSS Unity. The hefty expenses of developing a carrier rocket prevent new manufacturers from entering the market.

The high costs related to carrier rocket act as a challenge for the growth of the carrier rocket market over the forecasted timeframe.

Carrier Rocket Market
By End User
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Commercial is projected as the most lucrative segments

Escalating demand for reusable rockets 

The need for cost reduction by prominent rocket manufacturers, as well as a growing worldwide awareness of the need to reduce the CO2 footprint of rocket launches, are driving the development of reusable rockets. The reusable rockets have the ability to launch satellites and transport goods and personnel to space stations, the Moon, and Mars, among other uses. Developed economies are concentrating their efforts on the development of reusable rockets to reduce launch costs and delays. For instance, the U.S. government gave SpaceX permission to launch reused rockets for military missions in June 2021. The approval will help launch military satellites and save the Space and Missiles Systems Center of the United States around $64 million in launch costs. Moreover, to remain competitive in the space launch industry, prominent rocket manufacturers such as Rocket Lab are focusing on the development of reusable carrier rockets. The government's policies and increased attention on reusable rocket research provide an opportunity for the carrier rocket business to flourish. 

Carrier Rocket Market
By Region
2030
North America 
Europe
Asia-Pacific
LAMEA

Asia Pacific would exhibit the highest CAGR of 12.0% during 2021-2030.

COVID-19 Impact Analysis 

  • The COVID impact on the carrier rocker market is unpredictable and is expected to remain stunted till the second quarter of 2021. 
  • The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and made social distancing mandatory to contain the spread of the virus. Consequently, several organizations started work from home programs as safety measures. This led to a sudden decrease in demand for carrier rockets across the world. 
  • Moreover, nationwide lockdowns disrupted the supply-chain as several manufacturing facilities across the globe had to partially or fully shut down their operations.
  • The adverse impacts of the COVID-19 pandemic resulted in huge supply-demand issues for the carrier rocket industry globally.

Key Benefits For Stakeholders

  • This study presents the analytical depiction of the global carrier rocket market analysis along with the current trends and future estimations to depict imminent investment pockets.
  • The overall carrier rocket market opportunity is determined by understanding profitable trends to gain a stronger foothold.
  • The report presents information related to the key drivers, restraints, and opportunities of the global carrier rocket market with detailed impact analysis.
  • The current carrier rocket market is quantitatively analyzed from 2020 to 2030 to benchmark financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Carrier Rocket Market Report Highlights

Aspects Details
Carrier Rocket Market By Payload Type
By Payload Type
  • Cargo
  • Satellite
  • Others
Carrier Rocket Market By Payload Carrying Capacity
By Payload Carrying Capacity
  • Less than 4 tons
  • 4 tons to 8 tons
  • Above 8 tons
Carrier Rocket Market By Range
By Range
  • LEO
  • MEO
  • GEO
  • Others
Carrier Rocket Market By End Users
By End Users
  • Government
  • Commercial
Carrier Rocket Market By Region
By Region
  • North America  (U.S., Canada)
  • Europe  (Germany, France, Russia, UK, Rest of Europe)
  • Asia-Pacific  (China, India, Japan, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players
Key Market Players

Mitsubishi Heavy Industries, Ltd., Rocket Lab USA, Antrix Corporation Limited, SpaceX, Israel Aerospace Industries Ltd., IHI Corporation, Arianespace, Northrop Grumman Corporation, Cubecab, Lockheed Martin Corporation

Analyst Review

The carrier rocket market is expected to witness significant growth globally due to the rise in deployment of advanced communication and monitoring technologies across the world.

Rocket manufacturers are concentrating on developing low-cost carrier rockets with ability to launch multiple small satellites in the Low Earth Orbit(LEO). Rockets and rocket propulsion systems have undergone recent advancements, which are projected to give a lucrative possibility for market expansion. For instance, in July 2021, New Shepard rocket manufactured by Blue Origin was launched to space along with 4 astronauts. The reusable suborbital rocket system was used to demonstrate crewed flight mission capabilities of the New Shepard rocket. In addition, researchers are working towards development of advanced rocket technology to improve the range and capacity of the rockets. For instance, in April 2020, University of Central Florida researchers created a cutting-edge new rocket-propulsion system using a rotating detonation rocket engine. Upper-stage rockets for space missions will be lighter, fly farther, and burn more cleanly with the help of the advanced rocket-propulsion technology. Such improvements carried out by organizations all over the world contribute to the global market's growth.

Factors such as increase in demand for small satellites for earth observation services and rise in number of space expeditions accelerate the growth of the carrier rocket market. However, high cost involved in the development of carrier rocket and high complexity and requirement of periodic maintenance of rockets hamper the growth of the carrier rocket market. Conversely, surge in demand for reusable rockets and development of hybrid rocket fuel are expected to provide lucrative opportunities for the expansion of the growth of the carrier rocket market.

Carrier rockets are utilized for launching various types of payloads to different space orbits. Carrier rockets are also used for resupply missions of the space station. These are well suited for deployment of spacecraft or satellite into a trajectory or an orbit for commercial and government end users.

Among the analyzed regions, North America is the highest revenue contributor, followed by Asia-Pacific, Europe, and LAMEA. Based on forecast analysis, North America is expected to maintain its lead during the forecast period, owing to the boom of private rocket manufacturers in the region.

Author Name(s) : Mayank Halmare| Aditya Chandra | Sonia Mutreja
Frequently Asked Questions?

The global carrier rocket market was valued at $ 9,243.2 Million in 2020, and is projected to reach $ 25,429.9 Million by 2030 registering a CAGR of 11.9% from 2021 to 2030.

Development of hybrid propulsion system

The report sample for carrier rocket market report can be obtained on demand from the website.

The types of carrier rocket on the basis of payload are cargo, satellite and others.

A carrier rocket is a rocket-propelled vehicle used to carry a payload from Earth's surface to space, usually to Earth orbit or beyond.

The company profiles of the top players of the market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the industry along with their last three-year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated.

The U.S. and China are key matured markets growing in the carrier rocket market.

By end user, the commercial segment is expected to gain traction over the forecast period.

Based on the carrier rocket market analysis, North American region accounted for the highest revenue contribution in 2020 and Asia-Pacific is expected to see lucrative business opportunities during the forecast period.

Acquisition, Agreement, Contract, Partnership, Product Development, and Product launch are the top most competitive developments which are adopted by the leading market players in the carrier rocket market.

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Carrier Rocket Market

Global Opportunity Analysis and Industry Forecast, 2021-2030