Rocket propulsion market projected to grow at a CAGR of 8.50% during the forecast period
The rocket propulsion market is estimated to be USD 4.23 billion in 2018 and is projected to reach USD 6.36 billion by 2023, at a CAGR of 8.50% from 2018 to 2023. The propulsion system of a rocket used to generate thrust to lift the rocket into space is called rocket propulsion. The propulsion of a rocket includes all parts, such as tank, pump, propellant, motor, and nozzle, among others. The growth of the rocket propulsion market can be attributed to the reducing mission cost and increasing space expeditions. Increasing spending on research & development for enhanced efficiency is also a major factor fueling the growth of the market.
Based on propulsion type, the hybrid propulsion segment is estimated to lead the rocket propulsion market in 2018
The hybrid propulsion segment is estimated to lead the rocket propulsion market in 2018. This growth can be attributed to the increasing adoption of advanced liquid propulsion engines and high thrust rocket motors for space launch vehicles.
Asia Pacific region is anticipated to grow at the highest CAGR during the forecast period
The Asia Pacific region is projected to grow at the highest CAGR owing to the increasing demand for exploration activities among countries, such as India, China, and Japan. Increasing space missions are expected to fuel the growth of the rocket propulsion market in the region.
• By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By Designation: C Level – 35%, Director Level – 25%, and Others – 40%
• By Region: North America – 40%, Europe – 20%, Asia Pacific – 10%, and RoW – 30%
Key players operating in the rocket propulsion market include SpaceX (US), Aerojet Rocketdyne (US), Antrix (India), Orbital ATK (US), and Mitsubishi Heavy Industries (Japan).
The rocket propulsion market has been segmented on the basis of type, propulsion type, orbit, launch vehicle type, end user, component, and region. These segments and subsegments are mapped across major regions, namely, North America, Europe, Asia Pacific, and the Middle East. The report provides in-depth market intelligence regarding key market dynamics and major factors (drivers, restraints, opportunities, and industry-specific challenges) that influence the growth of the rocket propulsion market, in addition to an analysis of micromarkets with respect to individual growth trends, prospects, and their contribution to the rocket propulsion market.
Reasons to Buy the Report:
From an insight perspective, the rocket propulsion market report focuses on various levels of analyses — industry analysis; market share analysis of top players; company profiles that comprise and discuss basic views on the competitive landscape; high-growth regions and countries as well as their respective regulatory policies; and drivers, restraints, opportunities, and challenges.
The rocket propulsion market report provides insights on the following pointers:
• Market Penetration: Comprehensive information regarding the competitive landscape in the rocket propulsion market
• Market Sizing: Market size in the financial year 2016-2017 and projection of the market size from 2018 to 2023
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the rocket propulsion market
• Market Overview: Market dynamics and subsequent analysis of associated trends, drivers, and opportunities prevailing in the rocket propulsion market
• Market Development: Comprehensive information about lucrative markets—the report analyzes the market for rocket propulsion across various regions worldwide
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the rocket propulsion market
• Regional Analysis: Factors influencing market shares of North America, Europe, Asia Pacific, and the Middle East
• Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading market players