System value provides a mathematical representation of stakeholder’s preferences for the system. System value represents the utility that the system provides to the stakeholders. For a launch vehicle, important values are revenue generated through successful payloads, mission reliability, and the ability to accommodate payloads without modification to the payload instruments or spacecraft bus. This paper considers the value provided by a heavy lift launch vehicle to the satellite industry and to human exploration. An estimate is developed for a generic launch vehicle value in terms of impact to the Gross Domestic Product. Thermo-economics are applied in the calculation of system value. Mission reliability considers both successful delivery and on time delivery (i.e., operational availability). Payload accommodation considers mainly the diameter of the payload fairing for various types of missions.
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