Global Carrier Rocket Market Report and Forecast 2024-2032

Global Carrier Rocket Market Outlook

The global carrier rocket market size is expected to grow at a CAGR of 9.0% between 2024 and 2032. The market is being driven by evolution of satellite technology, rising demand for launch services, and reduced costs.

Key Trends in the Market

A carrier rocket is a type of rocket that is designed to launch a payload such as a satellite or spacecraft into a specific trajectory or orbit. These rockets are typically strong and light launch vehicles that are commonly used to carry cargo for resupply missions.

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• Rising demand for satellites from end users such as telecommunications, defence, and space exploration, among others, is surging the demand for carrier rockets to easily transport satellites into desired orbits.

• Various commercial and government organisations are increasingly investing in the evolution of satellite technologies such as advanced payload systems and spacecraft propulsion, among others, which is a major factor fuelling the carrier rocket market growth.

• Reduced launch costs along with rising innovations in carrier rockets such as development of reusable rocket technologies has made launch services affordable, resulting in an increased demand for carrier rockets.

Market Analysis

Based on payload type, the market is segmented into cargo, and satellite, among others. On the basis of payload carrying capacity, the market is divided into less than 4 tons, 4 tons to 8 tons, and above 8 tons. By range, the market is categorised into LEO, MEO, and GEO, among others. Based on end use, the market is bifurcated into government and commercial. On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

As the space industry evolves, the demand for advanced rocket carriers is on the rise. These rocket carriers are essential for launching satellites, transporting cargo, and supporting various space missions. The development of new rocket carriers with enhanced payload capacities and efficiencies is crucial to meet the growing needs of both governmental and commercial entities. Innovations in rocket carrier technology aim to improve reliability, reduce costs, and expand access to space. The increasing frequency of space missions and the expansion of space exploration programs highlight the pivotal role that rocket carriers will play in the future of space travel and satellite deployment.

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global carrier rocket market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Galactic Energy

• Antrix Corporation Ltd.

• IHI Corporation

• Arianespace

• Lockheed Martin Corporation

• Northrop Grumman

• CubeCab

• Israel Aerospace Industries

• Rocket Lab USA, Inc.

• Space Exploration Technologies Corp. (SpaceX)

• Blue Origin Enterprise, L.P

• Mitsubishi Heavy Industries, Ltd.

• Others

Market Share by Payload Type

The satellite segment, by payload type, accounts for a significant share of the carrier rocket market owing to the rising demand for well-developed satellites in commercial end uses. Satellites helps telecommunications organisations implement high speed internet services all across the globe. They also aid the aviation sector in managing air traffic owing to their ability to support more efficient communication between the pilot and the air traffic controller. Satellites are also a key component in various government applications, particularly defence and security.

Market Share by Region

North America occupies a sizable share of the carrier rocket market, supported by the active space exploration sector in countries such as the United States. Development of reusable rockets are being adopted by key players in the region in an aim to reduce launching costs and delays, thereby supporting the growth of the market for carrier rockets. Meanwhile, the Asia Pacific region is expected to observe rapid growth in the market for carrier rockets over the forecast period owing to the rising space exploration activities in countries such as India, Japan, and China.

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Competitive Landscape

Galactic Energy was founded in 2018 and is headquartered in Beijing, China. This space launch company works with an objective to mine asteroids for rare minerals and metals and focuses on low-cost commercial space launches.

Antrix Corporation Ltd. is defence and space manufacturing company that was founded in 1992. It is headquartered in Karnataka, India, and is known for promoting and marketing services and products emanating from Indian space programs.

IHI Corporation was established in 1853 and has its headquarters located in Tokyo, Japan. This machinery industry company manufactures and sells space launch vehicles, gas engines, ships, and aircraft engines, among others.

Other market players include Arianespace, Lockheed Martin Corporation, Northrop Grumman, CubeCab, Israel Aerospace Industries, Rocket Lab USA, Inc., Space Exploration Technologies Corp. (SpaceX), Blue Origin Enterprise, L.P, and Mitsubishi Heavy Industries, Ltd., among others.

Key Highlights of the Report