The growth in the small launch vehicle (SLV) market is majorly attributed to the increasing demand for dedicated and rideshare launch services from end users, such as defense, government, academic, and commercial. Over the past years, the number of small satellite constellations has increased tremendously, owing to the low cost associated with their development and launch. Thus, it is fostering the market of SLV in the coming years. The market has evolved in developed regions, such as North America and Europe, and is gaining popularity in regions such as the Asia Pacific, and Rest-of-the-World (RoW) including Middle East, Latin America, and Africa.

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Apart from the growth-driving factors, the SLV market is also witnessing several challenges, such as developing a dedicated and low-cost launching satellite for SLV. In order to offer reliable and robust SLV services, manufacturers tends to have a global reach with a large set of SLVs for each payload range.

The global small launch vehicle (SLV) market is one of the most competitive industries with the leading players actively competing against each other to gain a greater share in the industry. The competitive landscape of the SLV market exhibits an inclination toward emerging strategies and developments by market players.

The key players that are actively participating in the global SLV market include CubeCab, EUROCKOT Launch Services GmbH, IHI Corporation, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Mitsubishi Heavy Industries, Ltd., Orbital ATK, Inc., Rocket Lab USA, Inc., Space Exploration Technologies Corp., Spacefleet Ltd., and The Boeing Company.

The prominent players in the SLV market adopted strategies of product launches, mergers and acquisitions, partnerships and collaborations, contracts, and other strategies to expand their business. The companies are also involved in some of the other developments that include demonstration, integration, and business expansion.

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Due to the intensive competition, the SLV industry requires manufacturers to constantly innovate and develop cost-effective products. The existing companies as well as new entrants aim to develop next-generation small launch vehicles, which are in adherence with the existing and forthcoming industry standards for various end-user applications. The market is likely to grow rapidly with the huge potential of SLVs in terms of providing cost-effective and faster launch solution.

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