Asia-Pacific Satellite Launch Vehicle Market Trends

Statistics for the 2023 & 2024 Asia-Pacific Satellite Launch Vehicle market trends, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Satellite Launch Vehicle trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Market Trends of asia-pacific satellite launch vehicle Industry

Growing demand and competition in the Asia-Pacific launch vehicle market

  • Asia-Pacific has witnessed significant growth in the space industry in recent years, with a number of companies emerging as major players in the development and deployment of launch vehicles. CASC developed a range of launch vehicles, including the Long March series, which has become one of the most reliable launch vehicles in the world. During 2017-2022, CASC's Long March rocket launched approximately 372 satellites into space for various satellite operators across the world. Russia's Roscosmos State Corporation is responsible for the development of the Soyuz and Proton rockets, which have been used to launch a range of satellites and crewed missions to space. During 2017-2022, the Soyuz rocket launched approximately 611 satellites into space for various satellite operators across the world.
  • The Japan Aerospace Exploration Agency (JAXA) has developed a number of launch vehicles, including the H-IIA and H-IIB rockets. During 2017-2022, JAXA's H-IIA rockets launched approximately 25 satellites into space for various satellite operators across the world. India's ISRO is playing a key role in the development of the country's launch vehicles. ISRO has developed a range of launch vehicles, including the PSLV and the GSLV, which have been used to launch a range of satellites. During 2017-2022, ISRO's rockets launched approximately 171 satellites into space for various satellite operators across the world. In addition to these established players, there are also a number of emerging companies, such as Rocket Lab, which is based in New Zealand and has developed the Electron rocket. During 2017-2022, the Electron rocket launched approximately 87 satellites into space for various satellite operators globally.
Asia-Pacific Satellite Launch Vehicle Market

Increased spending by China, India, Japan, and South Korea is driving the market's growth

  • The demand for satellite launch vehicles is driven by projects such as manufacturing and launching a national satellite internet constellation of up to 13,000 satellites. China SatNet has been engaging with commercial companies as it develops a blueprint for constructing the Guowang constellation. Hence, several space agencies in the region are developing space launch vehicle technologies. In February 2023, the Indian government announced that ISRO is expected to receive USD 2 billion for various space-related activities. Under the outlay on major schemes, a partial split up of the budget of INR 9441 crore has been allocated for space technology (including launch activity, R&D on rockets, engines, satellites, etc.). In March 2021, Japan announced that it expended USD 4.14 billion for space-related activities. The country mentioned that it had allocated JPY 18.9 billion for the H3 rocket development. In January 2020, JAXA mentioned that JPY 3.6 billion was allocated to fund the research and development of core engine technologies that significantly improve fuel consumption and reduce environmental burden, as well as the research and development of the silent supersonic airplane and emission-free aircraft (electric-powered propulsion systems).
  • In March 2023, South Korea announced that it would spend USD 674 million on space programs to expand its domestic space industry, develop a next-generation launch vehicle, and bolster space defense capabilities. Approximately USD 113.6 million will be expended on developing a next-generation carrier rocket, the KSLV-2. The new rocket KSLV-3, expected to debut in 2030, is designed to be a kerosene and liquid oxygen-fueled two-stage vehicle.
Asia-Pacific Satellite Launch Vehicle Market

OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT

  • The demand for satellite miniaturization is the growth driver in Asia-Pacific

Asia-Pacific Satellite Launch Vehicle Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029