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Propulsion Systems Market Report
Propulsion System Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2025-2034
A propulsion system is a specialized mechanism that generates thrust to propel aircraft, spacecraft, and aerial vehicles through the atmosphere or space. It encompasses various technologies, including gas turbine engines like turbojets, turbofans, and turboprops, as well as emerging systems such as electric propulsion, hybrid-electric configurations, and advanced concepts like ramjets and scramjets, designed to convert fuel or alternative energy into mechanical force for vehicle propulsion.
The propulsion systems market is estimated to grow to reach US$144.86 billion in 2030 driven by increasing commercial aircraft deliveries, military modernization programs, growing space exploration activities, rising demand for fuel-efficient propulsion technologies, and the industry's transition toward sustainable aviation solutions, including electric and hybrid-electric systems.
The propulsion systems market is estimated to grow at a CAGR of 3.9% by 2030, driven by sustained air passenger traffic recovery, expanding defense aerospace budgets, technological advancements in propulsion efficiency, proliferation of satellite constellations, and substantial investments in sustainable aviation fuel compatibility and next-generation propulsion architectures.
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General Electric Company (GE Aerospace), Honeywell International Inc., IHI Corporation, Mitsubishi Heavy Industries Aero Engines Ltd., MTU Aero Engines AG, Pratt & Whitney (RTX Corporation), Rolls-Royce Holdings plc, Safran SA, Textron Inc., and Williams International Co. LLC are the leading players in the Propulsion Systems market.
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