Commercial Rockets Market by Payload Type (Cargo, Satellite, Human Space, Space Probes and Others), Range (Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Equatorial Orbit (GEO), and Others), Fuel Type (Solid, Liquid, and Hybrid), and End User (Civil and Military) – Global Opportunity Analysis and Industry Forecast 2024–2030

Commercial Rockets Market

Industry:  Aerospace & Defense | Publish Date: Feb 2024 | No of Pages:  N/A | No. Tables:  N/A | No. Figures:  N/A

Market Definition

The global Commercial Rockets Market size was valued at USD 10.3 billion in 2023 and is predicted to reach USD 25.6 billion by 2030 with a CAGR of 13.9% from 2024–2030. The commercial rocket market refers to the industry involved in the manufacturing, development, and launching of rockets for commercial purposes.

Commercial rockets are used for a variety of tasks, including sending satellites into orbit for communication, Earth observation, and scientific research, as well as carrying cargo and potential human passengers to the International Space Station (ISS) or other destinations in space. 

Market Dynamics and Trends

The rise in demand for communication satellites, navigation systems, and OTT satellites propels the growth of the commercial rocket market. Commercial rockets are taking the lead in launching such satellites on behalf of government and non-governmental organizations.

For instance, in January 2023, Space X launched a GPS3 navigation satellite into the earth's orbit using a Falcon 9 rocket for the US Space Force. The GPS 3 satellite features enhanced civilian signals, improved anti-jamming capabilities, and improved search and rescue capabilities.

In addition, growth in government schemes and investments to enforce space startups for the development of the commercial rocket market. According to a report published by the Economic Times Telecom in August 2023, more than 150 space startups received funds of around USD 303 million enabling these companies for more space exploration.

However, the enormous cost associated with developing, manufacturing, and launching rockets restrains the commercial rockets market growth. This includes expenses related to research and development, specialized materials, skilled labor, and advanced technology. High cost not only limits the number of players who can enter the market but also affects the frequency and scope of launches.

On the other hand, reusable launch vehicles play a significant role in flourishing the space industry in the future. These reusable launch vehicles are expected to reduce the expense of each launch along with saving time since the same spacecraft can be used multiple times for different missions.

Moreover, the Indian Space Research Organization (ISRO) is working on a Reusable Launch Vehicle – Technology Demonstrator (RLV-TD), which is expected to make each mission cost-effective especially for the commercial market players.


Market Segmentations and Scope of the Study

The commercial rockets market is segmented based on payload type, range, fuel type end user, and region. Based on payload type, the market is divided into cargo, satellite, human space, space probes, and others.

By range type, it is divided into LEO, MEO, GEO, and others. By fuel type, it is divided into solid, liquid, and hybrid. By end user, it is divided into civil and military. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and the rest of the world (RoW).


Geographical Analysis

North America holds a dominant share of the commercial rockets market and is expected to continue its dominance during the forecast period. This is attributed to the innovations and developments by major space companies in North America such as Space X, Blue Origin, and the National Aeronautics and Space Administration (NASA).

For instance, in September 2023, Space X’s Falcon 9 rocket, a two-staged reusable rocket used by Space X launched 21 Starlink satellites. The main aim of the satellite is to provide strong and high-speed internet connectivity to remote areas around the world.

Moreover, government funding in the space sector further propels the growth of the commercial rockets market in North America. As per the report published by NASA in February 2023, a budget of around USD 26 million was allotted to NASA for the financial year 2023, which is an 8.0% increase over the budget for the financial year 2022.

Moreover, NASA is looking forward to privatizing operations as well by signing agreements with private companies such as Axiom Space. These allotted funds and the increase in partnerships are expected to boost the growth of the commercial space rockets market in the region.

On the other hand, Asia-Pacific is showing a steady rise in the commercial rockets market, owing to a rise in space startups and growth in investments in the space sector in countries such as India, China, and Japan.

According to a report published by Cross Barriers in November 2023, Skyroot Aerospace, an India-based startup company became the first space company to receive an overall funding of USD 95 million, which is expected to rise to an overall valuation of USD 40 billion by the year 2040. These findings will help the company to carry out future missions and research & development work, further leading to the growth of the company.

Moreover, several countries in Asia-Pacific such as the Philippines, China, and India are developing space programs and launching their own satellites as per their unique geographical and economic need. For instance, the Philippines Space Agency (PhilSA) is working on the development of a Multi-Spectral Imaging (MSI), which will be launched by 2024. This is expected to capture high-definition images of the Philippines, which is expected to assist them in real-time monitoring of deforestation, natural calamities, and agriculture practices.


Competitive Landscape

The commercial rocket market consists of various companies such as Space X, Boeing Defense Space and Security, Virgin Galactic, Blue Origin, Astra Space, Seirra Nevada Space Systems, Northrop Grumman Corporation, Skyroot Aerospace, Indian National Space Promotion and Authorization Centre (IN-SPACe). These market players are adopting various strategies such as partnership and acquisition across various regions to maintain their dominance in the commercial rockets market.

For instance, in August 2023, Virgin Galactic’s VSS Unity, a reusable rocket-powered space plane launched and landed with the company’s first crew of tourists to space. The mission was named as Galactic 02. Through this mission, the company aims to broaden the access to the space for other commercial companies.

Moreover, in December 2023, Northrop Grumman Corporation conducted test fire of a solid rocket motor, which has a long shelf life and the ability to launch with less preparation resulting in faster ignition, multiple usability, and heavy lift propulsion. In addition, solid rocket motors are expected to increase the thrust of the main engine and also operate in cold temperatures. Hence, all such factors are expected to boost the market growth.

Key Benefits

  • The commercial rockets market report provides a quantitative analysis of the current market and estimations from 2024 to 2030. This analysis assists in identifying the prevailing market opportunities to capitalize on.

  • The study comprises a detailed analysis of the current and future commercial rockets market trends to depict prevalent investment pockets in the market.

  • The information related to key drivers, restraints, and opportunities and their impact on the commercial rocket market is provided in the report.

  • The competitive analysis of the market players along with their market share in the space launch services market is mentioned.

  • SWOT analysis and Porter’s Five Forces model are elaborated in the study.

  • The value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

Commercial Rockets Market Key Segments

By Payload Type 

  • Cargo

  • Satellite

  • Human Space

  • Space Probes 

By Range Type 

  • Low Earth Orbit (LEO)

  • Medium Earth Orbit (MEO)

  • Geostationary Equatorial Orbit (GEO)

By Fuel Type 

  • Solid

  • Liquid

  • Hybrid

By End User

  • Civil 

  • Military

By Region

  • North America

    • U.S

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France    

    • Italy

    • Spain

    • Denmark

    • Netherlands

    • Finland

    • Sweden

    • Norway

    • Russia

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

    • Indonesia

    • Singapore

    • Taiwan

    • Thailand

    • Rest of Asia-Pacific

  • RoW

    • Latin America

    • Middle East

    • Africa




Market Size in 2023

USD 10.3 Billion

Revenue Forecast in 2030

USD 25.6 Billion

Growth Rate

CAGR of 13.9% from 2024 to 2030

Analysis Period


Base Year Considered


Forecast Period


Market Size Estimation

Billion (USD)

Growth Factors

  • Commercial rockets in space exploration programs.

  • Use of commercial rockets by for launching satellites.

Countries Covered


Companies Profiled


Market Share

Available for 10 companies

Customization Scope

Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs.



  • Space Exploration Technologies Corp. (SpaceX)

  • Boeing Defense Space and Security

  • Virgin Galactic

  • Blue Origin

  • Astra Space

  • Seirra Nevada Space Systems

  • Northrop Grumman Corporation

  • Skyroot Aerospace

  • Indian National Space Promotion

  • Authorization Centre (IN-SPACe)

Frequently Asked Questions
Which are the major market players in the commercial rockets market?

Major players in the commercials rocket market are Space X, Boeing Defense Space and Security, Virgin Galactic, Blue Origin, Astra Space, Seirra Nevada Space Systems, Northrop Grumman Corporation, Skyroot Aerospace, and Indian National Space Promotion and Authorization Centre (IN-SPACe)

How big is commercial rockets market?

The commercial rockets market had a market of USD 10.3 million in the year 2023 and is expected to grow by 13.9% by the year 2030.

Which region dominates the commercial rockets market?

North America dominates the commercial rockets market, owing to the presence of major companies in the region.

What are rescuable launch vehicles?

Reusable launch vehicles are specific type of spacecrafts, which can be used multiple times to carry out space missions such as carrying payloads, and passengers.

What is the role of commercial rockets in space tourism?

Commercial rockets play an important role in space tourism as several privately owned companies such as Space X and Blue Origin are trying to send their paid passengers into the orbit.