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Rocket Propulsion Market

Global Rocket Propulsion Market Size, Share, Trends, Growth: By Type: Solid, Liquid, Hybrid; By End Use: Civil and Commercial, Military; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Value Chain Analysis; Competitive Landscape; 2024-2032

Global Rocket Propulsion Market Outlook

The global rocket propulsion market attained a value of about USD 6.29 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 8.7% to reach nearly USD 13.36 billion by 2032.       

 

Global Rocket Propulsion Market

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Rising Launches of Rockets Bolstering the Growth of the Rocket Propulsion Industry

The market for rocket propulsion is being aided by the increasing launches of rockets by governments organisations and various companies to enhance the scientific capabilities of their countries. For instance, Russia, in December 2020, launched Angara A5 heavy-lift rocket that does not utilise toxic and aggressive propellants to enhance environmental friendliness. Moreover, the increasing investments in miniature spacecraft technologies are surging the demand for small rocket propulsions. The market is also being augmented by the growing demand for alternative fuels for the propulsion of rockets, which is leading to the development of electricity-based rocket propulsion. For instance, in October 2020, NASA introduced an in-space electric propulsion system to enhance the cost-effectiveness and sustainability of rocket propulsion.

Technological advancements and innovations are leading to the development of advanced rocket propulsion, which is propelling the market growth. The integration of artificial intelligence (AI) and machine learning to boost the productivity and capabilities of rocket propulsion during manufacturing is increasing the cost-effectiveness of rocket propulsions. Moreover, the use of such technologies is also optimising the structure and design of the engine of the rocket, hence aiding in the efficient development of fuel-efficient engines, which is providing impetus to the market growth.

 

Rocket Propulsion: Market Segmentation

Rocket propulsion refers to the system that deploys fuel and oxidisers to generate force to lift off a rocket. It is typically of two types that are solid and liquid. Solid rocket propulsions are extensively used due to their simple design, cost-effectiveness, and reliability.

 

Global Rocket Propulsion Market by Segment

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The major types of rocket propulsion are:

  • Solid
  • Liquid
  • Hybrid

The market can be broadly categorised on the basis of its end uses into:

  • Civil and Commercial
  • Military

The EMR report looks into the regional markets of rocket propulsion like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Rocket Propulsion Market by Region

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Development of Innovative Rockets to Bolster the Growth of the Rocket Propulsion Industry

The development of innovative rockets for diverse and advanced uses is propelling the market growth of rocket propulsion. As the demand for lightweight rockets with enhanced performance is surging, innovative rocket propulsions are being deployed to boost rocket-engine efficiency. The development of green fuels, deploying hydrogen and oxygen, that can increase the signal strength of the rocket is further bolstering the growth of the rocket propulsion industry. In addition, the deployment of innovative technologies in the manufacturing process is bolstering the production of innovative rockets, which is anticipated to augment the market growth in the forecast period.

 

Increasing Attempts to Use Eco-Friendly Rocket Propellants to Augment the Market Growth

The initiation of various research activities to develop environmentally friendly space propellants to boost sustainable growth is expected to propel the market growth. The deployment of such propellants is also expected to enhance cost-effectiveness, ease of handling, and safety, especially for reusable vehicles and low-cost micro-satellite missions. Moreover, the trend of 3D printing is projected to rapidly and efficiently manufacture heat barriers, injectors, combustion chambers, and mounting interfaces, among others. The introduction of various favourable initiatives by aeronautics and space organisations like NASA’s Green Propellent Infusion Mission (GPIM) is predicted to provide further impetus to the industry growth in upcoming years.

 

Key Industry Players in the Global Rocket Propulsion Market

The report presents a detailed analysis of the following key players in the global rocket propulsion market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Northrop Grumman Corporation
  • Antrix Corporation Limited
  • Mitsubishi Heavy Industries Ltd
  • Safran SA
  • Space Exploration Technologies Corp.
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • End Use
  • Region
Breakup by Type
  • Solid
  • Liquid
  • Hybrid
Breakup by End Use
  • Civil and Commercial
  • Military
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Northrop Grumman Corporation
  • Antrix Corporation Limited
  • Mitsubishi Heavy Industries Ltd
  • Safran SA
  • Space Exploration Technologies Corp.
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

Rocket Propulsion Market Report Snapshots

Rocket Propulsion Market Size

Rocket Propulsion Market Growth

Rocket Propulsion Companies

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface  
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Rocket Propulsion Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Rocket Propulsion Historical Market (2018-2023) 
    8.3    Global Rocket Propulsion Market Forecast (2024-2032)
    8.4    Global Rocket Propulsion Market by Type
        8.4.1    Solid
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Liquid
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Hybrid
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
    8.5    Global Rocket Propulsion Market by End Use
        8.5.1    Civil and Commercial
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Military
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)    
    8.6    Global Rocket Propulsion Market by Region
        8.6.1    North America
            8.6.1.1    Historical Trend (2018-2023) 
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Europe
            8.6.2.1    Historical Trend (2018-2023) 
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Asia Pacific
            8.6.3.1    Historical Trend (2018-2023) 
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Latin America
            8.6.4.1    Historical Trend (2018-2023) 
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Middle East and Africa
            8.6.5.1    Historical Trend (2018-2023) 
            8.6.5.2    Forecast Trend (2024-2032)
9    North America Rocket Propulsion Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Rocket Propulsion Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Rocket Propulsion Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Rocket Propulsion Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Rocket Propulsion Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value  Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1     Northrop Grumman Corporation
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Antrix Corporation Limited
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Mitsubishi Heavy Industries Ltd
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Safran SA
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Space Exploration Technologies Corp.
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Others
17    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Rocket Propulsion Market: Key Industry Highlights, 2018 and 2032
2.    Global Rocket Propulsion Historical Market: Breakup by Type (USD Billion), 2018-2023
3.    Global Rocket Propulsion Market Forecast: Breakup by Type (USD Billion), 2024-2032
4.    Global Rocket Propulsion Historical Market: Breakup by End Use (USD Billion), 2018-2023
5.    Global Rocket Propulsion Market Forecast: Breakup by End Use (USD Billion), 2024-2032
6.    Global Rocket Propulsion Historical Market: Breakup by Region (USD Billion), 2018-2023
7.    Global Rocket Propulsion Market Forecast: Breakup by Region (USD Billion), 2024-2032
8.    North America Rocket Propulsion Historical Market: Breakup by Country (USD Billion), 2018-2023
9.    North America Rocket Propulsion Market Forecast: Breakup by Country (USD Billion), 2024-2032
10.    Europe Rocket Propulsion Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    Europe Rocket Propulsion Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Asia Pacific Rocket Propulsion Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Asia Pacific Rocket Propulsion Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Latin America Rocket Propulsion Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Latin America Rocket Propulsion Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Middle East and Africa Rocket Propulsion Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Middle East and Africa Rocket Propulsion Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Global Rocket Propulsion Market Structure

Key Questions Answered in the Report

In 2023, the global rocket propulsion market attained a value of nearly USD 6.29 billion.

The market is projected to grow at a CAGR of 8.7% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 13.36 billion by 2032.       

The major market drivers include the surging launches of rockets and space missions and the integration of the latest technologies in the manufacturing of rocket propellants.

The key trends propelling the market growth are the rising demand for eco-friendly rocket propellants, the growing trend of 3D printing, and the development of innovative rocket propellants.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major types of rocket propulsion in the market are solid, liquid, and hybrid.

The significant end uses in the market are civil and commercial, and military.

The major players in the market are Northrop Grumman Corporation, Antrix Corporation Limited, Mitsubishi Heavy Industries Ltd, Safran SA, and Space Exploration Technologies Corp., among others.

Analyst Review

The global rocket propulsion market attained a value of nearly USD 6.29 billion in 2023, driven by the rising launches of rockets and space missions. Aided by the rising demand for eco-friendly rocket propellants, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 8.7%. The market is projected to reach about USD 13.36 billion by 2032.       

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the rocket propulsion industry can be segmented into solid, liquid, and hybrid. On the basis of end uses, the industry is divided into civil and commercial, and military. The major regional markets for rocket propulsion are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Northrop Grumman Corporation, Antrix Corporation Limited, Mitsubishi Heavy Industries Ltd, Safran SA, and Space Exploration Technologies Corp., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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