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.
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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.