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An expendable launch vehicle consists of a launching system that can only be launched once. After the launch, its components are discarded in the space or are destroyed on re-entry. The expendable launch vehicle consists of various rockets, which sequentially get discarded as and when the fuel gets exhausted while the vehicle gains speed and altitude. In addition, most satellites and many human spacecraft are launched on expendable launch vehicles. As such, expendable launch systems are simpler in design than other launch systems and therefore have a lower cost of production. Moreover, expendable launch vehicles are highly fuel-efficient as they utilize the entire fuel supply to accelerate the payload.Â
COVID-19 scenario analysis
Rise in space exploration missions is fueling the market for expendable launch vehicles globally. The global market for expendable launch vehicles is determined by the major market players which constantly compete on reliability, product quality, aftermarket service, and cost factors. Further, increased competition is urging the global market players to enhance their network by expanding their geographical presence and increasing their manufacturing capabilities and diversification of product offerings. This is followed by huge investments by the government as well as nongovernment institutions. Moreover, technological advancements lead to market growth while reducing the cost of manufacturing and accelerating efficiency.Â
The global expendable launch vehicle market trends are as follows:
The space exploration programs have gained rapid consideration over the past few decades where major nations dominate the global expendable launch vehicle market by justifying their space capabilities. In addition, increase in space R&D programs has proliferated the growth of the global spacecraft market. Moreover, rapid collaborations among international space institutions for the integration of technologies and investment are bolstering the global market for space missions, which, in turn, is fueling the demand for the expendable launch vehicle market. Rise in space exploration missions is attributed to the increment in space budget and government spending. Furthermore, capacity enhancement of the components of launch vehicles is likely to push the application and demand for expendable launch vehicles during the forecast period.Â
Technology plays a vital role in bolstering the military strength of any nation. Technological advancements improve the efficiency of expendable launch vehicles by simultaneously reducing its costs. Moreover, with the upgradation of technology, major market players have developed advanced expendable launch vehicles that are lighter in weight than the conventional launch vehicles. In addition, the cost of launch vehicles has been significantly reduced by incorporating advanced technologies in manufacturing. Such factors are expected to broaden the application of expendable launch vehicles and foster the growth of the global market.Â
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Questions answered in the expendable launch vehicle market research report:
Expendable Launch Vehicle Market Report Highlights
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Key Market Players | United Launch Alliance LLC (ULA), EADS Astrium SAS, Airbus SE, Bellatrix Aerospace, CALT, The Boeing Company, TsSKB Progress, Masten Space Systems, Virgin Galactic, Space Exploration Technologies Corporation |
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