26-Feb-2020 | Zion Market Research
Zion Market Research has published a new report titled “Global Rocket Propulsion Market – By Type (Rocket Motor and Rocket Engine), By Fuel Type (Hybrid Fuel, Solid Fuel, and Liquid Fuel), By Vehicle Type (Unmanned and Manned), By Orbit Type (Geostationary Earth Orbit (GEO), Low Earth Orbit (LEO), Beyond Geosynchronous Orbit (BGEO), and Medium Earth Orbit (MEO)), By End-Use (Commercial and Defense & Civil), And By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2025.” According to the report, global demand for the rocket propulsion market was valued at around USD 4 Billion in 2019 and is projected to surpass USD 6 Billion by the end of 2025, escalating at a CAGR of close to 8% between 2019 and 2025.
Browse the full “Global Rocket Propulsion Market – By Type (Rocket Motor and Rocket Engine), By Fuel Type (Hybrid Fuel, Solid Fuel, and Liquid Fuel), By Vehicle Type (Unmanned and Manned), By Orbit Type [Geostationary Earth Orbit (GEO), Low Earth Orbit (LEO), Beyond Geosynchronous Orbit (BGEO), and Medium Earth Orbit (MEO)], By End-Use (Commercial and Defense & Civil), And By Region: Industry Perspective, Comprehensive Analysis, And Forecast, 2019 – 2025.” Report at https://www.zionmarketresearch.com/report/rocket-propulsion-market
The key factor behind the significant evolution in the rocket propulsion system is the constant innovation of hi-tech propulsion systems. Several government agencies are financially backing key market players in conducting R&D operations to design advanced and efficient rocket propulsion systems.
Liquid fuel type-based system leads the global rocket propulsion market
Based on the primary research conducted for the year 2019, the “liquid fuel” category under the fuel type dominated in the global rocket propulsion market and is anticipated to attain the leading position throughout the forecast period. The industrial players are increasingly demanding for the liquid fuel-based rocket propulsion systems owing to their high efficiency and ability to generate a loud impulse.
Rocket & Satellite launch for commercial purposes leads the commercial end-user segment of the global rocket propulsion market
The global rocket propulsion market is categorized into commercial and defense & civil, based on the end-user segment. Between the two, the commercial category leads the global market by holding over 55% of the market share, as per the data acquired from primary research. The dominance held by the commercial segment is attributed to the rising efforts and growing funds dedicated to the accomplishment of space exploration projects. In the coming years, there would be a significant increase in the number of space launches conducted by several companies for commercial purposes, thereby flourishing the global rocket propulsion market.
“Rocket engine” category type segment holds a dominating position in the global market
As the space exploration programs are growing at a phenomenal rate particularly in China, the rocket engine segment is likely to proliferate at a CAGR of more than 9% during the forecast period. The giant government-owned space industry in China, CASIC (China Aerospace Science & Industry Corporation), has been engaged in developing its space vehicle Kaitouzhe for almost the last twenty years. Moreover, there is an almost 30% increase in the number of launch activities conducted in China from 2017 to 2019, which indicates the further enhancement of the rocket engine category in the coming years.
Some of the key players of the global rocket propulsion market are Safran S.A., Virgin Galactic, Lockheed Martin Corporation, Moog Inc., Mitsubishi Heavy Industries, China Great Wall Industry Corporation, Rocket Lab, L-3 Communications, Blue Origin, IHI Corporation, General Dynamics OTS, Northrop Grumman, Airbus Defence and Space, NPO Energomash, Antrix, SpaceX, Aerojet Rocketdyne, NASA, Yuzhmash, and The Boeing Company.
The report on global rocket propulsion market is segmented into:
Global Rocket Propulsion Market: By Type Segmentation Analysis
Global Rocket Propulsion Market: By Fuel Type Segmentation Analysis
Global Rocket Propulsion Market: By Vehicle Type Segmentation Analysis
Global Rocket Propulsion Market: By Orbit Type Segmentation Analysis
Global Rocket Propulsion Market: By End-Use Segmentation Analysis
Global Rocket Propulsion Market: By Regional Segmentation Analysis
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