Rocket Propulsion Market - by Type (Rocket Motor, Rocket Engine), By Fuel Type (Hybrid, Liquid, Solid), By Orbit Type (Lower Earth Orbit, Medium Earth Orbit), Geostationary Earth Orbit, Beyond Geostationary Orbit), By Vehicle Type (Manned, Unmanned), & Forecast, 2023-2032
Published on: 2024-07-07 | No of Pages : 240 | Industry : Aerospace
Publisher : MRA | Format : PDF&Excel
Rocket Propulsion Market - by Type (Rocket Motor, Rocket Engine), By Fuel Type (Hybrid, Liquid, Solid), By Orbit Type (Lower Earth Orbit, Medium Earth Orbit), Geostationary Earth Orbit, Beyond Geostationary Orbit), By Vehicle Type (Manned, Unmanned), & Forecast, 2023-2032
Rocket Propulsion Market - by Type (Rocket Motor, Rocket Engine), By Fuel Type (Hybrid, Liquid, Solid), By Orbit Type (Lower Earth Orbit, Medium Earth Orbit), Geostationary Earth Orbit, Beyond Geostationary Orbit), By Vehicle Type (Manned, Unmanned), & Forecast, 2023-2032
Rocket Propulsion Market Size
Rocket Propulsion Market size surpassed USD 5 billion in 2022 and is slated to exhibit over 7% CAGR through 2023-2032, with the escalating investment in rocket launches and space research missions.
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With the rapid advancement in human space exploration to yield scientific discoveries, government investments in space missions have surged globally. Citing an instance, in FY2022, the Indian Government announced USD 1.9 billion in funding for the ISRO (Indian Space Research Organization) to bring innovative solutions to the space sector. Several spacecraft engineering corporations have also been targeting to pick up the pace of orbital launches. As a result, the development of satellite launch vehicles is likely to gain momentum and in turn, boost the requirement for advanced rocket propulsion systems.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Rocket Propulsion Market Size in 2022 | USD 5 billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 7% |
| 2032 Value Projection | USD 10 billion |
| Historical Data for | 2023 to 2032 |
| No. of Pages | 223 |
| Tables, Charts & Figures | 208 |
| Segments covered | Type, Fuel, Orbit, Vehicle, End-Use, and Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
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The rising initial investment and cost of rocket launch services due to inflation are among the prominent factors hindering the rocket propulsion industry dynamics to a certain extent. Based on statistics from NASA, the average cost of a spacecraft launch is USD 450 million. Considering the long-term ROI timeline, only government agencies and space organizations have been making investments in the space industry, thereby limiting product demand. Despite these challenges, the emphasis on the adoption of green propulsion fuels will create lucrative growth opportunities.
Rocket Propulsion Market Analysis
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Rocket propulsion market share from rocket motor segment is set to depict a 5% CAGR through 2032, owing to an increase in R&D initiatives for efficient hybrid motors. For example, in September 2022, the ISRO successfully tested a hybrid motor that used solid fuel and liquid oxidizer. This scalable and stackable test was intended to pave the way for new propulsion systems for upcoming launch vehicles. Additionally, pivotal achievements across prominent regions such as Europe, associated with a rocket motor development for use in two different launch vehicles, will bolster rocket propulsion production in the foreseeable future.
Rocket propulsion market size from hybrid fuel segment is set to exceed USD 450 million by 2032, given the low greenhouse gas emissions associated with engine exhaust running on hybrid fuels. The use of propellants such as high-density polyethylene and nitrous oxide can also ensure extremely low requirements for production energy, resulting in low carbon footprints for engines. The burgeoning demand for environment-friendly and safe rocket engine systems will therefore augment the use of hybrid fuel-propelled engines.
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Rocket propulsion market share from low earth orbit (LEO) segment will register over 7% CAGR through 2032, driven by the robust demand for earth observation imagery and analytics. Furthermore, in June 2022, Astroscale and the European Space Agency collaborated to manufacture the first commercial servicer prototype to capture multiple defunct satellites in low earth orbit. Such factors, alongside the expanding space network developments and laser-based space optical communications, will boost the need for rocket propulsion engines in LEO missions.
Based on the vehicle, the industry value from unmanned segment is anticipated to cross USD 10 billion by 2032, considering the extensive adoption of autonomous vehicles in civilian and military applications. Reconnaissance and fighting, electronic jamming, and communication are among the key military applications of unmanned autonomous launch vehicles, increasing the demand for efficient propulsion systems. High spending on rocket construction and the rise in small satellite deployment for commercial and military projects will also stimulate the use of propulsion systems in unmanned launch vehicle applications.
In terms of the end-use, rocket propulsion market size from commercial segment reached over USD 2 billion in 2022. The increasing demand for fast internet services and instant data transmission for military communications is among the major growth drivers. Telecom companies across the globe have also been initiating strategic collaborations to launch satellite-based broadband services, especially in emerging economies. Such initiatives will proliferate the need for commercial satellite launch services and subsequently hasten the development of ground-breaking rocket propulsion solutions.
Based on country, the U.S. held more than 35% share of the rocket propulsion market in 2022, as a result of the mounting launch of heavy rockets for the U.S. Space Force. The region has also witnessed an increased requirement for space services and missions to the International Space Station for satellites, astronauts, and other payloads. These factors, alongside escalating investment in space exploration, travel, and testing probe missions will add impetus to the regional industry expansion over the forthcoming years.
Rocket Propulsion Market Share
Competitive landscape of the rocket propulsion market comprises companies such as
- Virgin Galactic
- URSA Major Technologies Inc.
- Space Exploration Technologies Corp.
- Safran
- L3Harris Technologies Inc.
- Northrop Grumman (Orbital ATK)
- National Aeronautics and Space Administration (NASA)
- Mitsubishi Heavy Industries, Ltd.
- Lockheed Martin Corporation
- IHI Corporation
- Dawn Aerospace
- Blue Origin
- Avio Group
- Airbus S.A.S
These companies are focusing on strategies including mergers and acquisitions to reinforce their market presence.
Impact of COVID-19 pandemic
Economic disruptions and other unprecedented impacts of the coronavirus outbreak asserted a negative influence on global industry verticals including the space sector. In India, the Gaganyaan crewed orbital spacecraft mission was planned to be achieved by 2022. However, this space mission was delayed due to the COVID-19 crisis, mainly as a result of the reduced expenditure from the Department of Space.
Such setbacks may have caused a decline in space launch vehicle production and adversely impacted the businesses of rocket propulsion system manufacturers worldwide. However, with the gradual resumption of space exploration initiatives, demand for efficient vehicles is likely to rise, in turn, strengthening the rocket propulsion industry outlook.
The rocket propulsion market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments
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By Type
- Rocket motor
- Rocket engine
By Fuel
- Solid fuel
- Liquid fuel
- Hybrid fuel
By Orbit
- Low Earth Orbit (LEO)
- Medium Earth Orbit (MEO)
- Geostationary Earth Orbit (GEO)
- Beyond Geosynchronous Earth Orbit (BGEO), Graveyard orbit
By Vehicle
- Unmanned
- Manned
By End-Use
- Defense & Civil
- Commercial
The above information has been provided for the following countries
- U.S.
- France
- Russia
- Ukraine
- China
- India
- Japan
- New Zealand
- Iran
- Others
- Israel
- North Korea
Table of Content
Report Content
Chapter 1 Methodology and Scope
1.1 Market scope and definitions
1.2 Methodology & forecast parameters
1.2.1 Industry insights and validation
1.3 Forecast calculations
1.3.1 Region-wise COVID-19 impact analysis
1.3.1.1 North America
1.3.1.2 Europe
1.3.1.3 Asia Pacific
1.3.1.4 Latin America
1.3.1.5 Middle East & Africa
1.4 Data sources
1.4.1 Secondary
1.4.2 Primary
1.5 Industry Glossary
Chapter 2 Executive Summary
2.1 Rocket propulsion industry 3600 synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market, 2023-2032
2.3 Regional trends
2.4 Type trends
2.5 Fuel trends
2.6 Orbit type trends
2.7 Vehicle type trends
2.8 End-use trends
Chapter 3 Rocket Propulsion Industry Insights
3.1 Introduction
3.2 Impact of the COVID-19 pandemic on the market
3.2.1 Impact by country
3.3 Impact of the Russia-Ukraine war
3.4 Impact of the U.S.-China trade war
3.5 Industry ecosystem
3.5.1 Raw material supplier
3.5.2 Component supplier
3.5.3 Manufacturers
3.5.4 Technology providers
3.5.5 System Integrators
3.5.6 End users
3.5.7 Vendor matrix
3.6 Profit margin analysis
3.7 Technological and innovation landscape
3.7.1 Nuclear thermal propulsion system
3.7.2 Solar sails
3.8 Patent analysis
3.9 Key news & initiatives
3.9.1 Acquisitions & mergers
3.9.2 Partnerships & collaborations
3.9.3 Product launches
3.9.4 Government initiatives
3.10 Regulatory landscape
3.10.1 International standards
3.10.1.1 ISO 175402016 - Space systems — Liquid rocket engines and test stands
3.10.1.2 ISO/TS 209912018 - Space systems — Requirements for small spacecraft
3.10.1.3 ISO 166942015 space systems
3.10.1.4 SMC-S-025- Evaluation and test requirement for liquid rocket engine
3.10.2 North America
3.10.2.1 Safety codes
3.10.3.2 CFR Title 14, Chapter III
3.10.2.3 Export Administration Regulations (EAR)
3.10.2.4 Control of Air Pollution from Aircraft EnginesEmission Standards and Test Procedures
3.10.3 Europe
3.10.3.1 European Cooperation for Space Standardization
3.10.3.2 ECSS-E-ST-35-01C
3.10.3.3 ECSS-E-ST-35-02C
3.10.3.4 ECSS-E-ST-35-03C
3.10.3.5 ECSS-E-ST-35-06C Rev.2
3.10.3.6 ECSS-E-ST-35-10C
3.10.3.7 ECSS-E-ST-35C Rev.1
3.10.4 Asia Pacific
3.10.4.1 Space Activities Act, Japan
3.10.4.2 Waste Electrical and Electronic Equipment Directive
3.10.4.3 SNI Mark for Indonesia
3.10.5 Latin America
3.10.5.1 UNIT ISO/ IEC 27000
3.10.5.2 OSH Regulatory Framework
3.10.6 MEA
3.10.6.1 UAE Space Law
3.11 Industry impact forces
3.11.1 Growth drivers
3.11.1.1 Surging investments in the space sector and increasing launch activities globally
3.11.1.2 Rising efforts to develop advanced manufacturing capabilities
3.11.1.3 Rising efforts to reduce carbon emissions from rocket propulsion systems
3.11.1.4 Surging technological advancements to increase the efficiency of rocket propulsion systems
3.11.1.5 Development of retrievable rocket propulsion systems
3.11.2 Pitfall and challenges
3.11.2.1 High initial investments in rocket propulsion systems
3.11.2.2 Rising political insurgencies
3.12 Investment landscape
3.13 Growth potential analysis
3.14 Porter analysis
3.14.1 Bargaining power of suppliers
3.14.2 Bargaining power of buyers
3.14.3 Threat of new entrants
3.14.4 Threat of substitutes
3.14.5 Industry rivalry
3.15 PESTLE analysis
3.15.1 Political
3.15.2 Economic
3.15.3 Social
3.15.4 Technological
3.15.5 Environmental
3.15.6 Legal
Chapter 4 Competitive Landscape
4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of major market players
4.3.1 Chart key
4.3.2 Northrop Grumman Corporation
4.3.3 L3Harris Technologies, Inc. (Aerojet Rocketdyne)
4.3.4 Lockheed Martin Corporation
4.3.1 IHI Corporation
4.3.2 Mitsubishi Heavy Industries, Ltd
4.4 Competitive analysis of innovative players
4.4.1 Chart key
4.4.2 Space Exploration Technologies Corp. (SpaceX)
4.4.3 Blue Origin, LLC
4.4.4 Avio Group
4.4.5 China Great Wall Industry Corporation (CGWIC)
4.4.6 National Aeronautics and Space Administration (NASA)
4.5 Competitive positioning matrix
4.6 Strategic outlook matrix
Chapter 5 Rocket Propulsion Market, By Type
5.1 Key trends, by type
5.2 Rocket motors
5.2.1 Market estimates & forecast, 2018-2032
5.3 Rocket engines
5.3.1 Market estimates & forecast, 2018-2032
Chapter 6 Rocket Propulsion Market, By Fuel Type
6.1 Key trends, by fuel type
6.2 Solid fuel
6.2.1 Market estimates & forecast, 2018-2032
6.3 Liquid fuel
6.3.1 Market estimates & forecast, 2018-2032
6.4 Hybrid fuel
6.4.1 Market estimates & forecast, 2018-2032
Chapter 7 Rocket Propulsion Market, By Orbit Type
7.1 Key trends, by orbit type
7.2 Low Earth Orbit
7.2.1 Market estimates & forecast, 2018-2032
7.3 Medium Earth Orbit (MEO)
7.3.1 Market estimates & forecast, 2018-2032
7.4 Geostationary Earth Orbit
7.4.1 Market estimates & forecast, 2018-2032
7.5 Beyond Geosynchronous Earth Orbit (BGEO)
7.5.1 Market estimates & forecast, 2018-2032
Chapter 8 Rocket Propulsion Market, By Vehicle Type
8.1 Key trends, by vehicle type
8.2 Unmanned
8.2.1 Market estimates & forecast, 2018-2032
8.3 Manned
8.3.1 Market estimates & forecast, 2018-2032
Chapter 9 Rocket Propulsion Market, By End-Use
9.1 Key trends, by end-use
9.2 Defense & Civil
9.2.1 Market estimates & forecast, 2018-2032
9.3 Commercial
9.3.1 Market estimates & forecast, 2018-2032
Chapter 10 Rocket Propulsion Market, By Region
10.1 Key trends, by region
10.2 U.S.
10.2.1 Market estimates & forecast, 2018-2032
10.2.2 Market estimates & forecast, by type, 2018-2032
10.2.3 Market estimates & forecast, by fuel type, 2018-2032
10.2.4 Market estimates & forecast, by orbit type, 2018-2032
10.2.5 Market estimates & forecast, by vehicle type, 2018-2032
10.2.6 Market estimates & forecast, by end-use, 2018-2032
10.3 France
10.3.1 Market estimates & forecast, 2018-2032
10.3.2 Market estimates & forecast, by type, 2018-2032
10.3.3 Market estimates & forecast, by fuel type, 2018-2032
10.3.4 Market estimates & forecast, by orbit type, 2018-2032
10.3.5 Market estimates & forecast, by vehicle type, 2018-2032
10.3.6 Market estimates & forecast, by end-use, 2018-2032
10.4 Russia
10.4.1 Market estimates & forecast, 2018-2032
10.4.2 Market estimates & forecast, by type, 2018-2032
10.4.3 Market estimates & forecast, by fuel type, 2018-2032
10.4.4 Market estimates & forecast, by orbit type, 2018-2032
10.4.5 Market estimates & forecast, by vehicle type, 2018-2032
10.4.6 Market estimates & forecast, by end-use, 2018-2032
10.5 Ukraine
10.5.1 Market estimates & forecast, 2018-2032
10.5.2 Market estimates & forecast, by type, 2018-2032
10.5.3 Market estimates & forecast, by fuel type, 2018-2032
10.5.4 Market estimates & forecast, by orbit type, 2018-2032
10.5.5 Market estimates & forecast, by vehicle type, 2018-2032
10.5.6 Market estimates & forecast, by end-use, 2018-2032
10.6 China
10.6.1 Market estimates & forecast, 2018-2032
10.6.2 Market estimates & forecast, by type, 2018-2032
10.6.3 Market estimates & forecast, by fuel type, 2018-2032
10.6.4 Market estimates & forecast, by orbit type, 2018-2032
10.6.5 Market estimates & forecast, by vehicle type, 2018-2032
10.6.6 Market estimates & forecast, by end-use, 2018-2032
10.7 India
10.7.1 Market estimates & forecast, 2018-2032
10.7.2 Market estimates & forecast, by type, 2018-2032
10.7.3 Market estimates & forecast, by fuel type, 2018-2032
10.7.4 Market estimates & forecast, by orbit type, 2018-2032
10.7.5 Market estimates & forecast, by vehicle type, 2018-2032
10.7.6 Market estimates & forecast, by end-use, 2018-2032
10.8 Japan
10.8.1 Market estimates & forecast, 2018-2032
10.8.2 Market estimates & forecast, by type, 2018-2032
10.8.3 Market estimates & forecast, by fuel type, 2018-2032
10.8.4 Market estimates & forecast, by orbit type, 2018-2032
10.8.5 Market estimates & forecast, by vehicle type, 2018-2032
10.8.6 Market estimates & forecast, by end-use, 2018-2032
10.9 New Zealand
10.9.1 Market estimates & forecast, 2018-2032
10.9.2 Market estimates & forecast, by type, 2018-2032
10.9.3 Market estimates & forecast, by fuel type, 2018-2032
10.9.4 Market estimates & forecast, by orbit type, 2018-2032
10.9.5 Market estimates & forecast, by vehicle type, 2018-2032
10.9.6 Market estimates & forecast, by end-use, 2018-2032
10.10 Iran
10.10.1 Market estimates & forecast, 2018-2032
10.10.2 Market estimates & forecast, by type, 2018-2032
10.10.3 Market estimates & forecast, by fuel type, 2018-2032
10.10.4 Market estimates & forecast, by orbit type, 2018-2032
10.10.5 Market estimates & forecast, by vehicle type, 2018-2032
10.10.6 Market estimates & forecast, by end-use, 2018-2032
10.11 Others
10.11.1 Israel
10.11.2 North Korea
10.11.3 Market estimates & forecast, 2018-2032
10.11.4 Market estimates & forecast, by type, 2018-2032
10.11.5 Market estimates & forecast, by fuel type, 2018-2032
10.11.6 Market estimates & forecast, by orbit type, 2018-2032
10.11.7 Market estimates & forecast, by vehicle type, 2018-2032
10.11.8 Market estimates & forecast, by end-use, 2018-2032
Chapter 11 Company Profiles
11.1 Airbus S.A.S.
11.1.1 Business Overview
11.1.2 Financial Data
11.1.3 Product Landscape
11.1.4 Strategic Outlook
11.1.5 SWOT Analysis
11.2 Antrix Corporation Limited (ACL-ISRO)
11.2.1 Business Overview
11.2.2 Financial Data
11.2.3 Product Landscape
11.2.4 Strategic Outlook
11.2.5 SWOT Analysis
11.3 Avio Group
11.3.1 Business Overview
11.3.2 Financial Data
11.3.3 Product Landscape
11.3.4 Strategic Outlook
11.3.5 SWOT Analysis
11.4 Blue Origin
11.4.1 Business Overview
11.4.2 Financial Data
11.4.3 Product Landscape
11.4.4 Strategic Outlook
11.4.5 SWOT Analysis
11.5 China Great Wall Industry Corporation (CGWIC)
11.5.1 Business Overview
11.5.2 Financial Data
11.5.3 Product Landscape
11.5.4 Strategic Outlook
11.5.5 SWOT Analysis
11.6 Dawn Aerospace
11.6.1 Business Overview
11.6.2 Financial Data
11.6.3 Product Landscape
11.6.4 Strategic Outlook
11.6.5 SWOT Analysis
11.7 IHI Corporation
11.7.1 Business Overview
11.7.2 Financial Data
11.7.3 Product Landscape
11.7.4 Strategic Outlook
11.7.5 SWOT Analysis
11.8 Lockheed Martin Corporation
11.8.1 Business Overview
11.8.2 Financial Data
11.8.3 Product Landscape
11.8.4 Strategic Outlook
11.8.5 SWOT Analysis
11.9 L3 Harris Technologies, Inc.
11.9.1 Business Overview
11.9.2 Financial Data
11.9.3 Product Landscape
11.9.4 Strategic Outlook
11.9.5 SWOT Analysis
11.10 Mitsubishi Heavy Industries, Ltd.
11.10.1 Business Overview
11.10.2 Financial Data
11.10.3 Product Landscape
11.10.4 Strategic Outlook
11.10.5 SWOT Analysis
11.11 MOOG Inc.
11.11.1 Business Overview
11.11.2 Financial Data
11.11.3 Product Landscape
11.11.4 Strategic Outlook
11.11.5 SWOT Analysis
11.12 National Aeronautics and Space Administration (NASA)
11.12.1 Business Overview
11.12.2 Financial Data
11.12.3 Product Landscape
11.12.4 Strategic Outlook
11.12.5 SWOT Analysis
11.13 Northrop Grumman (Orbital ATK)
11.13.1 Business Overview
11.13.2 Financial Data
11.13.3 Product Landscape
11.13.4 Strategic Outlook
11.13.5 SWOT Analysis
11.14 PA YUZHMASH
11.14.1 Business Overview
11.14.2 Financial Data
11.14.3 Product Landscape
11.14.4 Strategic Outlook
11.14.5 SWOT Analysis
11.15 Rafael Advanced Defense Systems Ltd.
11.15.1 Business Overview
11.15.2 Financial Data
11.15.3 Product Landscape
11.15.4 Strategic Outlook
11.15.5 SWOT Analysis
11.16 Rocket Lab USA
11.16.1 Business Overview
11.16.2 Financial Data
11.16.3 Product Landscape
11.16.4 Strategic Outlook
11.16.5 SWOT Analysis
11.17 Safran
11.17.1 Business Overview
11.17.2 Financial Data
11.17.3 Product Landscape
11.17.4 Strategic Outlook
11.17.5 SWOT Analysis
11.18 Space Exploration Technologies Corp.
11.18.1 Business Overview
11.18.2 Financial Data
11.18.3 Product Landscape
11.18.4 Strategic Outlook
11.18.5 SWOT Analysis
11.19 URSA Major Technologies Inc.
11.19.1 Business Overview
11.19.2 Financial Data
11.19.3 Product Landscape
11.19.4 Strategic Outlook
11.19.5 SWOT Analysis
11.20 Virgin Galactic
11.20.1 Business Overview
11.20.2 Financial Data
11.20.3 Product Landscape
11.20.4 Strategic Outlook
11.20.5 SWOT Analysis