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Sub Orbital Reusable Vehicle Market to Grow at a Rate of 16.89% Between 2021-2031
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.
By: BIS Research
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The global sub-orbital reusable vehicle market is witnessing numerous emerging players such as PD AeroSpace, LTD, Equatorial Space Systems, i-Space, OneSpace, Space Perspective, and Suborbitality s.r.o., which are all highly focused on developing sub-orbital transportation and space tourism platforms. Along with these commercial companies, national space agencies such as the National Aeronautics and Space Administration (NASA) and European Space Agency (ESA) are also working along with these emerging commercial space entities.
Sub-orbital spaceflight can be referred to as when a spacecraft reaches outer space, however its trajectory intersects the surface of the gravitating body from where it is launched, which is an altitude higher than 100 km above sea level. There have been lots of researchers in the past who have worked on sub-orbital flights. Sub-orbital transportation not only includes using spacecraft for microgravity experiments, satellite deployments, or cargo delivery but also encompasses space tourism. Space tourism has been one of the focused areas in the space industry, particularly for commercial space entities.
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Sub-orbital reusable vehicles (SRVs) have been gaining attention for their benefits and establishing a new spaceflight industry. Comparatively, SRVs would be less expensive to develop and operate than orbital RLVs. 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.