The Rocket Engines Global Market Report 2023 by The Business Research Company, provides rocket engines market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Rocket Engines Global Market Report 2023, the global rocket engines market size will grow from $2.77 billion in 2022 to $2.71 billion in 2023 at a compound annual growth rate (CAGR) of -2.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global rocket engines is expected to grow to $3.17 billion in 2027 at a CAGR of 3.9%.Increasing rocket launches are expected to drive the growth of the rocket engines market in the forecast period. Over the next decade, hundreds of corporations and government agencies around the world are planning to launch rockets and place tens of thousands of satellites in large low-Earth orbit constellations. In 2019, there were 102 orbital launch attempts worldwide, with 97 of them reaching orbit. By 2025, the U.S. launch rate alone will double to around 200 launches each year, even if half
of the strategies are successful. Therefore, the increasing rocket launches propel the growth of the rocket engines market.
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The rocket engines market is segmented:
1) By Type: Physically Powered, Chemically Powered, Electrically Powered, Thermal, Nuclear
2) By Product Type: Liquid Rocket Engine, Solid Rocket Engine
3) By Application: Spacecraft, Ballistic Missiles, Others
3D printing technology is the key trend gaining popularity in the rocket engines market. Space organizations and private companies are designing 3D-printed rocket engines to reduce costs and speed up production. For instance, in September 2020, NASA’s Rapid Analysis and Manufacturing Propulsion Technology (RAMPT) project is developing the production of an additive manufacturing methodology utilizing metal powder and lasers to 3D print rocket engine components. This technology is expected to reduce the cost of manufacturing complex combustion parts and also reduce the lead time of production. In February 2020, Skyrora, a US-based rocket start-up company, successfully tested its 3D-printed rocket engines market.
The rocket engines market report table of contents includes:
1. Rocket Engines Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
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18. Africa Rocket Engines Market
19. Rocket Engines Global Market Competitive Landscape
20. Key Mergers And Acquisitions In The Rocket Engine Market
21. Rocket Engines Market Future Outlook and Potential Analysis
22. Appendix
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