Global Rocket Propulsion Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Rocket Propulsion Market Report offers in-depth insights, revenue details, and other vital information regarding the global Rocket Propulsion market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2031.

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The Rocket Propulsion Market report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.

The global Rocket Propulsion market report has been segmented on the basis of product type, propulsion type, orbit type, component, launch vehicle type, end-user, and region.

Rocket Propulsion Market Overview:

“The Rocket Propulsion Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Rocket propulsion is used to produce thrust to push the rocket forward into space. On rockets, thrust is usually generated by applying Newton's third law of action and reaction. The engine accelerates the gas or working fluid and the reaction to this acceleration produces a force on the engine.

Rocket Propulsion Market Dynamics

The increasing adoption of advanced liquid propulsion engines and high thrust rocket motors for space launch vehicles is a key factor expected to drive the growth of the global rocket propulsion market over the forecast period.

In addition, rising demand for rocket propulsion owing to the increasing number of space expeditions is expected to further propel the growth of the target market over the forecast period.

Moreover, increasing investments by the government and manufacturers for space exploration is another factor expected to fuel the growth of the target market over the forecast period.

However, the lack of measures for the disposal of orbital debris is a key factor expected to restrain the growth of the global rocket propulsion market over the forecast period.

In addition, the lack of launch vehicles for the installation of small satellites and scarce intellectual assets in many countries, are other factors expected to hinder the growth of the target market during the forecast period.

Ongoing trend observed in the global rocket propulsion market is increasing technological developments in space propulsion and improvements in propellant technologies, which in turn support the growth of the target market during the forecast period.

Increasing demand for technological upgradation and cost-effective spacecraft launches is expected to create a lucrative opportunity for players operating in the global rocket propulsion market in the next coming years.

Rocket Propulsion Market Analysis by Segment

Among the product type segments, the rocket engine segment is expected to register the highest growth rate in the target market during the forecast period.

In addition, among the propulsion type segments, the hybrid propulsions segment is projected to register the highest growth rate in the target market in the next coming years.

Furthermore, among the end-user segments, the military & government segment is projected to contribute the highest share in terms of revenue in the target market over the forecast period.

Rocket Propulsion Market Analysis by Region

The rocket propulsion market in North America accounted for the highest market share in terms of revenue and is expected to dominate the target market over the forecast period. This can be attributed to increasing research and investment in the development of the space industry.

The rocket propulsion market in the Asia Pacific is expected to account for a significant share in terms of value and is projected to witness the fastest growth rate in the global rocket propulsion market over the forecast period.

The Europe rocket propulsion market is estimated to register a moderate growth rate in the target market over the forecast period.

Global Rocket Propulsion Market Segmentation:

Segmentation by Product Type:

• Rocket Motor
• Rocket Engine

Segmentation by Propulsion Type:

• Solid Propulsion
• Liquid Propulsion
• Hybrid Propulsion

Segmentation by Orbit Type:

• Low Earth Orbit (LEO)
• Medium Earth Orbit (MEO)
• Geosynchronous Equatorial Orbit (GEO)
• Beyond GEO

Segmentation by Component:

• Motor Casing
• Nozzle
• Igniter Hardware
• Turbo Pump
• Propellant

Segmentation by Launch Vehicle Type:

• Manned
• Unmanned

Segmentation by End User:

• Military & Government
• Commercial

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa