The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033.
The Rocket Propulsion Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Rocket Propulsion Global Market Report 2024, The rocket propulsion market size has grown rapidly in recent years. It will grow from $6.32 billion in 2023 to $7.22 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to space exploration and satellite launches, military and defense applications, commercial space ventures, scientific research missions, national space programs and agencies.The rocket propulsion market size is expected to see rapid growth in the next few years. It will grow to $11.58 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%.
The rocket propulsion market is experiencing significant growth driven by increased spending and capital investment from government bodies and space companies. Capital investment involves acquiring physical assets to advance long-term business goals, and in the context of space exploration, it includes substantial investments in research, development, and technological innovation. Government agencies and space companies are actively contributing to this trend, with a notable example being the investment in space-based technologies. According to Space Capital LP, venture capital invested $17.1 billion in 328 space companies in 2021, accounting for 3% of total global venture capital flows. In Q1 2022 alone, another $7.2 billion was invested. Additionally, data from USA Spending indicates that in FY 2022, the National Aeronautics and Space Administration (NASA) had a budget of $30.44 billion to drive technological advancements and innovation in aeronautics and space exploration. This increased spending and capital investment are anticipated to drive demand for rocket propulsion systems in the forecast period.
The growth of the rocket propulsion market is further fueled by the rising demand for commercial satellites. Commercial satellites play a crucial role in collecting information and facilitating communication, and their deployment into space relies on rocket propulsion systems for the necessary thrust. In 2021, according to the Satellite Industry Association, a total of 1,713 commercial satellites were deployed, representing a more than 40% increase compared to 2020. This surge in commercial satellite demand is a key driver for the growth of the rocket propulsion market, as these systems are essential for launching and positioning satellites in orbit.
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The rocket propulsion market covered in this report is segmented –
1) By Propulsion Type: Solid, Liquid, Hybrid
2) By Orbit Type: LEO, MEO, GEO, Beyond GEO
3) By Launch Vehicle Type: Manned, Unmanned
4) By End User Type: Civil and Commercial, Military
Top Major Players
Aerojet Rocketdyne Holdings Inc.,
Mitsubishi Heavy Industries Ltd.,
Space Exploration Technologies Corp.,
Safran S.A.,
Blue Origin LLC
The rocket propulsion market report table of contents includes:
1. Executive Summary
- Rocket Propulsion Market Characteristics
- Rocket Propulsion Market Trends And Strategies
- Rocket Propulsion Market – Macro Economic Scenario
- Global Rocket Propulsion Market Size and Growth
- Rocket Propulsion Market Segmentation
- Rocket Propulsion Market Regional And Country Analysis
……………
- Key Mergers And Acquisitions In The Rocket Propulsion Market
- Rocket Propulsion Market Future Outlook and Potential Analysis
- Appendix
List Of Tables :
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Rocket Propulsion Market, Segmentation By Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Rocket Propulsion Market, Segmentation By Orbit Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Rocket Propulsion Market, Segmentation By Launch Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
………
Table 75: Aerojet Rocketdyne Holdings Inc. Financial Performance
Table 76: Mitsubishi Heavy Industries Ltd. Financial Performance
Table 77: Space Exploration Technologies Corp. Financial Performance
Table 78: Safran S.A. Financial Performance
Table 79: Blue Origin LLC Financial Performance
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