Rocket Propulsion Market to offer a healthy CAGR of 10.2% during 2020-25
February 13, 2020
Rocket Propulsion Market Overview:
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.
Report Overview:
This new report from Stratview Research analyses the Rocket Propulsion Market over the trend period from 2014 to 2019 and forecast period from 2020 to 2025. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Rocket Propulsion Market Segment Insights:
Rocket Engine: The growth engine
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.
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Dominance of: Hydraulic Propulsion, LEO Segment, Unmanned and Propellant
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.
A highly/moderately/fragment consolidated Market
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
Regional Hegemony of North America & the dominance of Military & Government
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.
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.
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