Reusable launch vehicles market is anticipated to grow at a significant CAGR of 5.3% during the forecast period. One of the key factors that are fueling market growth includes the growing investments in space programs across the globe. Space exploration programs have been gaining rapid importance in the past few decades where prominent nations such as the US, China, India, and others are dominating the global reusable launch vehicle market by glorifying their space capabilities. For instance, in February 2022, the Centre informed that $1.8 billion for the budget of the Department of Space (DoS) in the Union Budget 2022-23, as Indian Space Research Organisation (ISRO) upcoming plans, and research. Additionally, increasing space R&D programs have contributed to the growth of the global spacecraft market. Moreover, quick collaborations among international space institutions for the integration of investment and technologies are strengthening the global market for space missions, which, in turn, is boosting the demand for the reusable launch vehicle market. 

Segmental Outlook 

The global reusable launch vehicles market is segmented based on the type and configuration. Based on the type, the market is segmented into partially reusable, and fully reusable. Based on the configuration, the market is sub-segmented into the single-stage, and multi-stage. The above-mentioned segments can be customized as per the requirements. Based on type, the fully reusable segment is anticipated to grow at the fastest rate in the market owing to the high preference of workers in the scape and satellite industry for such vehicles to launch reusable completely. While, based on configuration, the multi-stage segment is anticipated to grow at a significant rate during the forecast period owing to the increased staging allows the push of the remaining stages more effortlessly.

Amon the type, the fully reusable segment is anticipated to grow at the fastest rate in the market during the forecast period owing to the high preference of workers in the scape and satellite industry for such vehicles to launch reusable completely which is boosting the segment in the market. For instance, in July 2021, China’s makers of launch vehicles crafted a fully reusable version of the Long March 9 super heavy-lift rocket planned for future projects. The government of China approved the continued development of a super heavy-lift launcher, which was called the Long March 9. The long-planned, expendable launcher is planned to be workable by 2030, in time to simplify Chinese megaprojects plus the International Lunar Research Station.

Regional Outlooks

The global reusable launch vehicles market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. The Asia-Pacific region is anticipated to grow at the fastest rate in the market, while, Europe is anticipated to grow significantly during the forecast period.

Global Reusable Launch Vehicles Market Growth, by Region 2022-2028

The Asia-Pacific Region Anticipated to Grow at a Fastest CAGR in the Global Reusable Launch Vehicles Market

The Asia-Pacific region is anticipated to grow at the fastest rate in the market during the forecast period owing to the presence of countries such as China, India, Japan, and others. These countries have been rapidly growing their investments toward the growth of their space infrastructure for catering to the rising demand. For instance, in 2021, more than 40% of the global satellite launched via China, India, and Japan. Additionally, these countries are making plans for further increasing the satellite launch capacities in the coming years. As per the data of the China National Space Administration, China planned to launch nearly 100 satellites by 2025. iSpace, a China-based company, has been also steadily growing its investments toward the growth of advanced technology for reusable launch vehicles. The company has been developing Hyperbola-2, a 3.35-meter-diameter, 28-meter-tall liquid oxygen-methane launcher accomplished of launching more than 1,100 kgs of payload into a 500-kilometer Sun-synchronous orbit (SSO) or 800 kgs of payload when the first stage is to be reused and improved.

Market Players Outlook

The major companies serving the global reusable launch vehicles market include ArianeGroup, Indian Space Research Organisation, National Aeronautics, and Space Administration, Space Exploration Technologies Corp., United Launch Alliance, LLC., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in September 2021, the Indian Space Research Organisation (ISRO) informed that they are working on technologies that can land the GSLV Mk-III launching vehicles vertically, such as SpaceX is doing, and to improve the first and second stages. This can enable the space agency for reusing the GSLV Mk-III, thus supporting it by saving money.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global reusable launch vehicles market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.