/PRNewswire/ The "Global Small Launch Vehicle (SLV) Market - A Comprehensive Launch Market Assessment: Focus on End User, Satellite Mass, Platform Type,.
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The Global Small Launch Vehicle (SLV) Market report projects the market to grow at a significant CAGR of 24.36% on the basis of value during the forecast period from 2020 to 2030.
Asia-Pacific is expected to dominate the global SLV market with a share of 46.51% in 2020. Asia Pacific, including the major countries such as China, India, and Japan, is the most prominent region for the SLV market. In Asia-Pacific, China is estimated to have acquired the major market share in 2019 due to the major deployment of SLV in different sectors in the country.
The global SLV market has gained widespread importance, owing to the increase in the number of satellite constellations for satellite applications, such as remote sensing, navigation, communication, and earth observation. However, issues related to the high cost of SLVs are some of the factors that are restraining the market growth.
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The global advanced rocket and missile propulsion systems market report shows a significant growth in the market. The advanced rocket and missile propulsion systems market is anticipated to grow at a CAGR of 9.65% based on market value during the forecast period 2020-2025.
However, the demand for advanced rocket and missile propulsion systems by value is expected to grow due to the growing number of satellite launches and rising research and development activities to develop cost-efficient propulsion technologies. Additionally, the growing demand for missile and ballistic missile defense systems is propelling the demand for advanced rocket and missile propulsion systems.