Rocket Propulsion Market Trends 2018 & Forecast to 2024

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Rocket Propulsion Market Research Report, 2018
2024
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Key Insights from Rocket Propulsion Market

• Rocket Propulsion Market is projected to grow
  exponentially from 2018 to 2024 due to increasing
  technological advancements in rockets and a
  higher demand for small satellites. Several
  organizations including the National Institute
  for Rocket Propulsion Systems (NIRPS) and the
  Indian Space Research Organization are engaged in
  research development for introducing advanced
  technological features and efficient propulsion
  systems for expanding the market growth till
  2024.
• Technological advancements in rocket propulsion
  systems are creating potential opportunities for
  market penetration. Moreover, Marshall Space
  Flight Center is continuously stressing on
  improving spacecraft and rocket propulsion
  technologies with the help of private players in
  the industry.
• Based on component, the rocket propulsion market
  is characterized into nozzle, valve, turbo pump,
  propellant, combustion chamber, and motor casing.
  The increasing thrust offered by the propellant
  with a mixture of oxidizer and fuel is driving
  the segment growth over the projected timeframe.

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Continued...

• Based on engine, the rocket propulsion market is
  classified into mono-propellant engines and
  bi-propellant engines. The rocket engine is
  anticipated to grow at a considerable rate over
  the projected timeframe owing to enhanced
  technology of rocket engines. Mono-propellant
  engines are generally used for low-thrust
  propulsion systems.
• Based on end user, the rocket propulsion market
  is segmented into military government and
  commercial. Military government is expected to
  witness a remarkable growth in the global rocket
  propulsion marketplace owing to the increasing
  expenditure on research development associated
  with space exploration systems development.
• Prominent players in the global market are
  emphasizing on reducing the manufacturing costs
  coupled with the growing number of rocket
  launches, thereby increasing the commercial usage
  of the space industry. Moreover, the increasing
  requirement for national security coupled with
  the prevention of terrorism is escalating the
  demand for rocket propulsion market growth over
  the study timeframe.

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Major Companies in Rocket Propulsion Market

• Aerojet Rocketdyne
• Mitsubishi Heavy Industries
• Orbital ATK
• Antrix
• Space Exploration Technologies Corp.
• Safran
• Blue Origin
• NPO Energomash
• IHI Corporation, Virgin Galactic, JSC Kuznetsov,
  Rocket Lab USA

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Regional Insights in Rocket Propulsion Market

• North America is expected to witness a
  significant growth in the global rocket
  propulsion marketplace owing to the high
  concentration of leading companies in the region.
  Favorable government support and increasing
  requirement of launching satellites for several
  purposes including earth observation, planetary
  science, and safety security mission services
  are among the key factors providing a positive
  outlook for the industry growth.
• Additionally, the presence of multiple government
  organizations across the region including
  Canadian Space Agency and its space-focused
  programs, such as Government Related Initiatives
  Program (GRIP), are among the important factors
  propelling the market proliferation. The Europe
  rocket propulsion market is experiencing a sturdy
  growth over the projected timeframe due to
  advancements in sensors and automation technology
  used in the rocket propulsion system.

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