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Rocket Propulsion Market Report
Rocket Propulsion Market Size, Share, Trend, Forecast, & Industry Analysis – 2020-2025.
The Rocket Propulsion Market is Segmented by Type (Rocket Motor, Rocket Engine), by Propulsion Type (Solid Propulsion, Liquid Propulsion, and Hybrid Propulsion), by Orbit Type (Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Earth Orbit (GEO), and Beyond Geosynchronous Orbit (BGEO)), by Launch Vehicle Type ...
Rocket propulsion market is likely to witness an impressive CAGR of 10.2% during the forecast period. Growing employment of space launch services for satellites and testing probe applications are some of the most contributing factors that are underpinning the growth of the global rocket propulsion market. In addition, the introduction of space tourism is expected to further bolster the demand for rocket propulsion in the subsequent times to come.
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Rocket Propulsion Market - Snapshot |
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|---|---|
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Growth |
10.2% for the next five years |
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Major Type |
Rocket engine |
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Major Propulsion Type |
Hybrid Propulsion |
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Major Orbit Type |
LEO |
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Dominant Launch Vehicle Type |
Unmanned |
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Dominant Component Type |
Propellant |
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Leading End-User Type |
Military & Government |
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Region with the highest demand |
North America |
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Key Players |
Antrix Corporation Limited, Aerojet Rocketdyne, Mitsubishi Heavy Industries, NPO Energomash, Orbital ATK, Rocket Lab, Safran S.A., Safran Exploration Technologies Corp., and Virgin Galactic. |
Based on the type, the market is segmented as rocket motor and rocket engine. The rocket engine segment is estimated to register a higher growth in the coming five years. The growth of this segment can be attributed to the rising number of launch service providers across the globe, drop in pricing for launches, and the increasing demand for reusable launch vehicles.
Based on the propulsion type, the market is segmented as solid propulsion, liquid propulsion, and hybrid propulsion. The hybrid propulsion segment is expected to remain dominant during the forecast period, owing to the escalating demand for transfer of heavy payloads to LEO, MEO, and GEO orbits.
Based on the orbit type, the market is segmented as low earth orbit (LEO), medium earth orbit (MEO), geostationary earth orbit (GEO), and beyond geosynchronous orbit (BGEO). The LEO segment is estimated to lead the market in the coming five years. Most of the space launch services are focused on LEO, which comprises human spacecraft, small satellites, and cargo to ISS, and spacecraft engineered for space tourism programs.
Based on the launch vehicle type, the market is segmented as unmanned and manned. The unmanned segment is expected to register a higher growth during the forecast period. Mounting deployment of small satellites for military and commercial applications and the substantial rise in investments by large space establishments for the improvement of launch vehicles are the prime factors serving as a catalyst for the growth of this segment.
Based on the component type, the market is segmented as motor casing, nozzle, igniter hardware, valve, turbo pump, combustion chamber, propellant, and others. The propellant segment is expected to depict the fastest growth during the forecast period, owing to the rising demand for competent and advanced thrust-generating propellants for launch vehicles. Relentless innovations in propellant compositions are anticipated to boost the growth of this segment.
Based on the end-user type, the market is segmented as commercial and military & government. The military & government segment remained dominant in 2018, and it is estimated to lead the market during the forecast period. Rising defense disbursements by developed and emerging economies and the need to back-up military operations and cyber operations with the employment of various types of satellites, such as remote sensing satellites, communication and surveillance satellites, and a host of others are expected to contribute to the growth of the global rocket propulsion market during the forecast period.
In terms of regions, North America was expected to remain dominant in the the rocket propulsion market in 2018. The region’s market is driven by the growing demand for space launch services for various payloads, such as satellites, human spacecraft, missions to ISS, and testing probes, which is expected to significantly contribute to the growth of the market in this region. The region is investing considerably in the advancement of space tourism and exploration and space probe missions, which is further fueling the growth of the rocket propulsion market. On the other hand, the rocket propulsion market in the Asia-Pacific region is estimated to depict the highest growth in the coming five years, sustained by the rising investments in the space launch industry.
Rocket propulsion is reaction propulsion where the oxidizer and the fuel are carried along with the rocket engine. Rocket propulsions are often confused with jet propulsions but both have a crucial difference. Jet propulsion uses the atmospheric air in the form of an oxidizer while the rocket propulsion uses nitric acid for the same.
Rocket propulsion can be in the form of solid, liquid, or even hybrid. It can be used in commercial as well as military aircraft. They are used in orbits and also recently in space tourism programs.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Rocket Propulsion Market Research Report - Features |
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|---|---|
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Market Segmentation |
7 ways |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
15 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
9 |
The rocket propulsion market is segmented into the following categories.
Some of the major players in the rocket propulsion market are-
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com
Rocket propulsion is reaction propulsion where the oxidizer and the fuel are carried along with the rocket engine. Rocket propulsions are often confused with jet propulsions but both have a crucial difference. Jet propulsion uses the atmospheric air in the form of an oxidizer while the rocket propulsion uses nitric acid for the same. Rocket propulsion can be in the form of solid, liquid, or even hybrid. It can be used in commercial as well as military aircraft. They are used in orbits and also recently in space tourism programs.
Rocket propulsion market is likely to witness an impressive CAGR of 10.2% during the forecast period. Growing employment of space launch services for satellites and testing probe applications are some of the most contributing factors that are underpinning the growth of the global rocket propulsion market.
In terms of regions, North America was expected to remain dominant in the Rocket Propulsion market in 2018.
Some of the major players in the rocket propulsion market are Antrix Corporation Limited, Aerojet Rocketdyne, Mitsubishi Heavy Industries, NPO Energomash, Orbital ATK, Rocket Lab, Safran S.A., Space Exploration Technologies Corp., and Virgin Galactic.
The rocket engine segment is expetced to register a higher growth in the rocket propulsion market during the forecast period.
The hybrid propulsion segment is expected to remain dominant in the rocket propulsion market in the coming years.
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