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Satellite Launch Vehicle Market Growing at a CAGR of 4.2% from 2017 to 2026
July 23, 2019 | Business WireEstimated reading time: 1 minute
Growing remote sensing applications is one of the major factors fuelling market growth. However, regulatory norms restricting the knowledge and resources sharing of technologies related to the launch owing to mission-critical applications are restricting the market growth. The global satellite launch vehicle market is growing at a CAGR of 4.2% from 2017 to 2026
Satellites are launched into earth's orbits via launch vehicles. Launch Vehicles are used to carry spacecraft to space. The launch system consists of the launch pad, the launch vehicle, and other infrastructure. Launch vehicles are classified on the basis of the amount of mass carried into the orbit and the number of stages. They use boosters to supply early thrust and reduce the mass of further stages, thus allowing for larger payloads to be carried into the orbit.
Based on Orbits, GEO orbit segment accounted for steady growth in satellite launch vehicle market owing to the growing deployment of small size communication satellites. The geostationary orbit is an area in space which allows a satellite to remain in orbit over a single point of the earth's surface. By Geography, Asia Pacific satellite launch vehicle market share will witness substantial growth over the forecast period due to rising focus on interplanetary missions and a high number of follow-on missions scheduled.
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