Sub-Orbital Reusable Vehicle (SRV) Market: Focus on Application, System, and Country – Analysis and Forecast, 2021-2031

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The global sub-orbital reusable vehicle (SRV) market is estimated to reach $1.86 billion in 2031, at a compound annual growth rate (CAGR) of 16.89% during the forecast period 2021-2031.

Description

Market Report Coverage – Sub-Orbital Reusable Vehicle Market

Market Segmentation

• Application: Cargo Delivery, Earth Observation/Remote Sensing, Space Tourism, Satellite Deployment, and Others
• Product: Propulsion System, Avionics (Guidance and Navigation System, Command and Data Handling System, and Telemetry System), and Power System

Regional Segmentation

• North America: U.S. and Canada
• Europe: U.K., Germany, France, and Rest-of-Europe
• Asia-Pacific: China, Japan, Singapore, and Rest-of-Asia-Pacific
• Rest-of-the-World

Key Companies Profiled

Blue Origin, Equatorial Space Systems Pte Ltd., exos Aerospace Systems & Technologies, inc., Orbspace, PD AeroSpace, LTD, SpaceX, UP Aerospace Inc., Virgin Galactic

How This Report Can Add Value

Product and Innovation Strategy: The product section will help the reader understand the different system used in sub-orbital reusable vehicle (SRV). The players operating in this market are developing innovative offerings and are highly focused on testing as well as demonstrating their platform capabilities.

Growth / Marketing Strategies: The players operating in the global sub-orbital reusable vehicle (SRV) market are engaged in several strategies, including strategic partnerships, contracts, and business expansion.

The growth/marketing strategies will help the readers in understanding the revenue-generating strategies adopted by the players operating in the global sub-orbital reusable vehicle (SRV) market. For instance, in March 2021, exos Aerospace Systems & Technologies, inc., received an Air Force Small Business Innovation Research (SBIR) Phase II contract.

This contract is for developing a prototype for lightweight dual-use application of the company’s existing commercial reusable sub-orbital sounding rocket (SARGE). The prototype could perform missions and support experiments to evaluate materials, sensors, and flight controls in the hypersonic regime, potentially from Mach 6 to Mach 9.

Key Questions Answered in the Report

• What are the underlying structures resulting in the emerging trends within the sub-orbital reusable vehicle market?
• What are the potential opportunities in the market for new OEMs and other players to enter?
• Which application is expected to lead the sub-orbital reusable vehicle market by 2031?
• What was the market value of the regions in the sub-orbital reusable vehicle market in 2020, and how is the market estimated to grow during the forecast period 2021-2031?
• How is the industry expected to evolve during the forecast period 2021-2031?
• What are the key developmental strategies that are implemented by the key players to sustain the competitive market?

Sub-Orbital Reusable Vehicle (SRV) Market

Sub-orbital transportation and space tourism capabilities have been demonstrated in the past. For instance, in the 1920s, Robert H. Goddard launched the first liquid-fueled rocket, which started scientific sub-orbital flights. The scientists expected to perform experiments in microgravity or above the atmosphere with the main use of sub-orbital flight.

After the X-20 Dyna-Soar project, numerous research activities that focus on sub-orbital transportations have been conducted. Additionally, the first tourist to space was Dennis Tito, who flew to the ISS onboard Russia’s Soyuz spaceship in 2001.

From 2001 to 2009, private individuals were successfully sent into space aboard a Russian Soyuz spacecraft. From 2001 to 2009, Space Adventures, a space tourism company, had organized eight space flight tours to the ISS for seven private individuals with the help of Russia’s Space Agency.

Currently, the industry is focusing on developing technologies, platforms as well as spaceports that will enable space transportation. One of the major technologies that the industry is focusing is the reusability of space systems such as suborbital or orbital reusable vehicles.

The reusable systems allow the companies to reduce costs as well as operate the system for several missions. The developments of the players in the market showcase that this market has the potential to have immense growth in the upcoming years.

Sub-Orbital Reusable Vehicle (SRV) Industry Overview

Space transportation has garnered significant interest from several space industries in the past few years. In the past, most space transportation has been focused on cargo supply missions to the International Space Station (ISS) and launch services, but currently, this focus has shifted to in-space transportation, planetary explorations, crewed missions, sub-orbital transportation, and space tourism.

Several companies, including SpaceX, Blue Origin, and Virgin Galactic, have been focusing on developing platforms such as rocket-powered sub-orbital vehicles that will enable the industry to carry out sub-orbital transportation and space tourism.

The global sub-orbital reusable vehicle (SRV) market is estimated to reach $1.86 billion in 2031, at a compound annual growth rate (CAGR) of 16.89% during the forecast period 2021-2031. The major driving factor for the market’s robustness will be focused efforts to enable space transportation, emerging start-ups in sub-orbital transportation, and increasing developments in low-cost launching sites.

Market Segmentation

Sub-Orbital Reusable Vehicle (SRV) Market by Application

Microgravity research, demonstrations, testing, and experiments application segment is expected to dominate the global sub-orbital reusable vehicle (SRV) market, on account of major focus on carrying out scientific research, payload testing, and experiments, among others, using sub-orbital flight vehicles.

Sub-Orbital Reusable Vehicle (SRV) Market by System

The propulsion segment is expected to lead the market during the forecast period from 2021 to 2031. One of the factors contributing to this growth is the growing number of emerging companies involved in developing such reusable vehicles that will carry out sub-orbital transportation.

Sub-Orbital Reusable Vehicle (SRV) Market by Region

North America is expected to dominate the global sub-orbital reusable vehicle (SRV) market during the forecast period. The number of growing successful demonstrations and test flights carried out by key players in this market has created an opportunity not only for them but also for other players who want to enter the market.

Apart from this, these successful demonstrations have proven the viability of these systems and may push these companies to commercialize their product offerings.

Key Market Players and Competition Synopsis

Blue Origin, Equatorial Space Systems Pte Ltd., exos Aerospace Systems & Technologies, inc., Orbspace, PD AeroSpace, LTD, SpaceX, UP Aerospace Inc., Virgin Galactic

The companies that are profiled in the report have been selected post undergoing in-depth interviews with experts and understanding details around companies such as product portfolio, annual revenues, market penetration, research and development initiatives, and domestic and international presence in the space industry.

Commercial Space Payload Market – A Global and Regional Analysis: Focus on Application, Payload, Orbit, and Country – Analysis and Forecast, 2021-2031

Additional information

Publisher

Geography Covered

Date Published

Pages

Format

Base Year

2021

Base Market Size

$390.8 Million in 2021

Currency/Unit

USD

Forecast Year

2031

Market Size Forecast

$1, 860.5 Million by 2031

CAGR

16.89%

Table of Contents

1 Markets 1.1 Industry Outlook 1.1.1 Evolving Space Transportation Market: An Overview 1.1.2 Enabling Technologies for Next-Gen Space-Based Transportation 1.1.2.1 Reusable Launch Vehicles (RLV) 1.1.2.2 On-Orbit Transportation Technologies 2 Demand Analysis of Sub-Orbital Reusable Vehicle Market 2.1 Market Overview 2.2 Sub-Orbital Reusable Vehicle Market (by Application) 2.2.1 Cargo Delivery 2.2.2 Earth Observation/Remote Sensing 2.2.3 Space Tourism 2.2.4 Satellite Deployment 2.2.5 Other Applications 2.3 Sub-Orbital Reusable Vehicle Market (by System) 2.3.1.1 Propulsion System 2.3.1.2 Avionics 2.3.1.2.1 Guidance and Navigation System 2.3.1.2.2 Command and Data Handling System 2.3.1.2.3 Telemetry System 2.3.1.3 Power System 3 Regions 3.1 North America 3.1.1 Key Players in North America 3.1.2 North America Sub-Orbital Reusable Vehicle Market 3.1.3 North America (by Country) 3.1.3.1 U.S. 3.1.3.1.1 U.S. Sub-Orbital Reusable Vehicle Market 3.1.3.2 Canada 3.1.3.2.1 Canada Sub-Orbital Reusable Vehicle Market 3.2 Europe 3.2.1 Key Players in Europe 3.2.2 Europe Sub-Orbital Reusable Vehicle Market 3.2.3 Europe (by Country) 3.2.3.1 U.K. 3.2.3.1.1 U.K. Sub-Orbital Reusable Vehicle Market 3.2.3.2 Germany 3.2.3.2.1 Germany Sub-Orbital Reusable Vehicle Market 3.2.3.3 France 3.2.3.3.1 France Sub-Orbital Reusable Vehicle Market 3.2.3.4 Rest-of-Europe 3.2.3.4.1 Rest-of-Europe Reusable Vehicle Market 3.3 Asia-Pacific 3.3.1 Key Players in Asia-Pacific 3.3.2 Asia-Pacific Sub-Orbital Reusable Vehicle Market 3.3.3 Asia-Pacific (by Country) 3.3.3.1 China 3.3.3.1.1 China Sub-Orbital Reusable Vehicle Market 3.3.3.2 Japan 3.3.3.2.1 Japan Sub-Orbital Reusable Vehicle Market 3.3.3.3 Singapore 3.3.3.3.1 Singapore Sub-Orbital Reusable Vehicle Market 3.3.3.4 Rest-of-Asia-Pacific 3.3.3.4.1 Rest-of-Asia-Pacific Reusable Vehicle Market 3.4 Rest-of-the-World 3.4.1 Latin America 3.4.1.1 Latin America Sub-Orbital Reusable Vehicle Market 3.4.2 Middle East and Africa 3.4.2.1 Middle East and Africa Sub-Orbital Reusable Vehicle Market 4 Company Profiles 4.1 Blue Origin 4.1.1 Company Overview 4.1.1.1 Role of Blue Origin in Global Sub-Orbital Reusable Vehicle Market 4.1.2 Product Portfolio 4.1.3 Strength and Weakness of Blue Origin 4.2 Equatorial Space Systems Pte Ltd. 4.2.1 Company Overview 4.2.1.1 Role of Equatorial Space Systems Pte Ltd. in Global Sub-Orbital Reusable Vehicle Market 4.2.1.2 Product Portfolio 4.2.2 Corporate Strategies 4.2.2.1 Agreements 4.2.3 Strength and Weakness of Equatorial Space Systems Pte Ltd. 4.3 exos Aerospace Systems & Technologies, inc. 4.3.1 Company Overview 4.3.1.1 Role of exos Aerospace Systems & Technologies, inc. in Global Sub-Orbital Reusable Vehicle Market 4.3.1.2 Product Portfolio 4.3.2 Corporate Strategies 4.3.2.1 Contracts 4.3.3 Strength and Weakness of exos Aerospace Systems & Technologies, inc. 4.4 Orbspace 4.4.1 Company Overview 4.4.1.1 Role of Orbspace in Global Sub-Orbital Reusable Vehicle Market 4.4.1.2 Product Portfolio 4.4.2 Strength and Weakness of Orbspace 4.5 PD AeroSpace, LTD 4.5.1 Company Overview 4.5.1.1 Role of PD AeroSpace, LTD in Global Sub-Orbital Reusable Vehicle Market 4.5.1.2 Product Portfolio 4.5.2 Corporate Strategies 4.5.2.1 Agreement 4.5.3 Strength and Weakness of PD AeroSpace, LTD 4.6 SpaceX 4.6.1 Company Overview 4.6.1.1 Role of SpaceX in Global Sub-Orbital Reusable Vehicle Market 4.6.1.2 Product Portfolio 4.6.2 Strength and Weakness of SpaceX 4.7 UP Aerospace Inc. 4.7.1 Company Overview 4.7.1.1 Role of UP Aerospace Inc. in Global Sub-Orbital Reusable Vehicle Market 4.7.1.2 Product Portfolio 4.7.2 Corporate Strategies 4.7.2.1 Contract 4.7.3 Strength and Weakness of UP Aerospace Inc. 4.8 Virgin Galactic 4.8.1 Company Overview 4.8.1.1 Role of Virgin Galactic in Global Sub-Orbital Reusable Vehicle Market 4.8.1.2 Product Portfolio 4.8.2 Business Strategies 4.8.2.1 Product Launch 4.8.3 Corporate Strategies 4.8.3.1 Partnerships and Merger 4.8.3.2 Contract 4.8.4 Strength and Weakness of Virgin Galactic 4.8.5 R&D Analysis 4.9 Other Key Players 4.9.1 i-Space (Beijing Interstellar Glory Space Technology Ltd.) 4.9.2 SHIPinSPACE LTD 4.9.3 bluShift Aerospace, Inc. 4.9.4 Suborbitality s.r.o. 4.9.5 Starchaser Industries Ltd 5 Research Methodology List of Figures Figure 1: Global Sub-Orbital Reusable Vehicle Market, $Million, 2020-2031 Figure 2: Global Sub-Orbital Reusable Vehicle Market (by Application), $Million, 2021 and 2031 Figure 3: Global Sub-Orbital Reusable Vehicle Market (by System), $Million, 2021 and 2031 Figure 4: Global Sub-Orbital Reusable Vehicle Market (by Region), $Million, 2020 Figure 5: Sub-Orbital Reusable Vehicle Market Coverage Figure 6: Space Tourism: Timeline Figure 7: Global Sub-Orbital Reusable Vehicle Market (by Application) Figure 8: Global Sub-Orbital Reusable Vehicle Market for Cargo Delivery, $Million, 2020-2031 Figure 9: Global Sub-Orbital Reusable Vehicle Market for Earth Observation/Remote Sensing, $Million, 2020-2031 Figure 10: Global Sub-Orbital Reusable Vehicle Market for Space Tourism, $Million, 2020-2031 Figure 11: Global Sub-Orbital Reusable Vehicle Market for Satellite Deployment, $Million, 2020-2031 Figure 12: Global Sub-Orbital Reusable Vehicle Market for Other Applications, $Million 2020-2031 Figure 13: Global Sub-Orbital Reusable Vehicle Market (by System) Figure 14: Global Sub-Orbital Reusable Vehicle Market (by System), $Million, 2020-2031 Figure 15: Global Sub-Orbital Reusable Vehicle Market (by Avionics), $Million, 2020-2031 Figure 16: Virgin Galactic R&D (2019-2020) Figure 17: Research Methodology Figure 18: Top-Down and Bottom-Up Approach Figure 19: Sub-Orbital Reusable Vehicle Market Influencing Factors Figure 20: Assumptions and Limitations List of Tables Table 1: Examples of On-Orbit Transportation Technologies Table 2: Space-Related Tourism Experiences Table 3: Global Sub-Orbital Reusable Vehicle Market (by Region), $Million, 2020-2031 Table 4: North America Sub-Orbital Reusable Vehicle Market, $Million, 2020-2031 Table 5: U.S. Sub-Orbital Reusable Vehicle Market, $Million, 2020-2031 Table 6: Canada Sub-Orbital Reusable Vehicle Market, $Million, 2020-2031 Table 7: Europe Sub-Orbital Reusable Vehicle Market, $Million, 2020-2031 Table 8: U.K. Sub-Orbital Reusable Vehicle Market, $Million, 2020-2031 Table 9: Germany Sub-Orbital Reusable Vehicle Market, $Million, 2020-2031 Table 10: France Sub-Orbital Reusable Vehicle Market, $Million, 2020-2031 Table 11: Rest-of-Europe Sub-Orbital Reusable Vehicle Market, $Million, 2020-2031 Table 12: Asia-Pacific Sub-Orbital Reusable Vehicle Market, $Million, 2020-2031 Table 13: China Sub-Orbital Reusable Vehicle Market, $Million, 2020-2031 Table 14: Japan Sub-Orbital Reusable Vehicle Market, $Million, 2020-2031 Table 15: Singapore Sub-Orbital Reusable Vehicle Market, $Million, 2020-2031 Table 16: Rest-of-Asia-Pacific Sub-Orbital Reusable Vehicle Market, $Million, 2020-2031 Table 17: Latin America Sub-Orbital Reusable Vehicle Market, $Million, 2020-2031 Table 18: Middle East and Africa Sub-Orbital Reusable Vehicle Market, $Million, 2020-2031 Table 19: Blue Origin: Product Portfolio Table 20: Equatorial Space Systems Pte Ltd.: Product Portfolio Table 21: Agreements Table 22: exos Aerospace Systems & Technologies, inc.: Product Portfolio Table 23: Contracts Table 24: Orbspace: Product Portfolio Table 25: PD AeroSpace, LTD: Product Portfolio Table 26: Agreement Table 27: SpaceX: Product Portfolio Table 28: UP Aerospace Inc.: Product Portfolio Table 29: Contract Table 30: Virgin Galactic: Product Portfolio Table 31: Product Launch Table 32: Partnerships and Merger Table 33: Contract