A launch vehicle includes an air pump, an injection valve, a connecting member, a trigger, and a projectile. Thus, the launch vehicle is operated on the ground and is also operated in a hand-held manner, thereby enhancing the amusement effect of the launch vehicle. In addition, the user only needs to hold the air pump and the trigger so as to launch the projectile easily and conveniently in an energy-saving manner, thereby facilitating the user operating the launch vehicle. Further, the launch vehicle has a simplified construction to perform the hand-held launching function, thereby decreasing the costs of fabrication. Further, the launch vehicle is further provided with a safety device to prevent the trigger from being triggered unintentionally to protect the user's safety.