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Global Rocket Propulsion Market: By Type: Solid, Liquid, Hybrid; By End Use: Civil and Commercial, Military; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Value Chain Analysis; Competitive Landscape; Industry Events and Developments
Global Rocket Propulsion Market Outlook
The global rocket propulsion market attained a value of about USD 4.9 billion in 2020. The market is further expected to grow in the forecast period of 2021-2026 at a CAGR of 8.7% to reach nearly USD 8.1 billion by 2026.
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.
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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: Industry Definition and 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.
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.
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.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2020 |
| Historical Period | 2016-2020 |
| Forecast Period | 2021-2026 |
| 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, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand |
| 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. |
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
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 Industry Opportunities and Challenges
8 Global Rocket Propulsion Market Analysis
8.1 Key Industry Highlights
8.2 Global Rocket Propulsion Historical Market (2016-2020)
8.3 Global Rocket Propulsion Market Forecast (2021-2026)
8.4 Global Rocket Propulsion Market by Type
8.4.1 Solid
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2016-2020)
8.4.1.3 Forecast Trend (2021-2026)
8.4.2 Liquid
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2016-2020)
8.4.2.3 Forecast Trend (2021-2026)
8.4.3 Hybrid
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2016-2020)
8.4.3.3 Forecast Trend (2021-2026)
8.5 Global Rocket Propulsion Market by End Use
8.5.1 Civil and Commercial
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2016-2020)
8.5.1.3 Forecast Trend (2021-2026)
8.5.2 Military
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2016-2020)
8.5.2.3 Forecast Trend (2021-2026)
8.6 Global Rocket Propulsion Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2016-2020)
9.1.2 Forecast Trend (2021-2026)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2016-2020)
9.2.2 Forecast Trend (2021-2026)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2016-2020)
9.3.2 Forecast Trend (2021-2026)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2016-2020)
9.4.2 Forecast Trend (2021-2026)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2016-2020)
9.5.2 Forecast Trend (2021-2026)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Northrop Grumman Corporation
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Antrix Corporation Limited
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Mitsubishi Heavy Industries Ltd
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Safran SA
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Space Exploration Technologies Corp.
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Others
13 Industry Events and Developments
List of Figures and Tables
1. Global Rocket Propulsion Market: Key Industry Highlights, 2016 and 2026
2. Global Rocket Propulsion Historical Market: Breakup by Type (USD Billion), 2016-2020
3. Global Rocket Propulsion Market Forecast: Breakup by Type (USD Billion), 2021-2026
4. Global Rocket Propulsion Historical Market: Breakup by End Use (USD Billion), 2016-2020
5. Global Rocket Propulsion Market Forecast: Breakup by End Use (USD Billion), 2021-2026
6. Global Rocket Propulsion Historical Market: Breakup by Region (USD Billion), 2016-2020
7. Global Rocket Propulsion Market Forecast: Breakup by Region (USD Billion), 2021-2026
8. North America Rocket Propulsion Historical Market: Breakup by Country (USD Billion), 2016-2020
9. North America Rocket Propulsion Market Forecast: Breakup by Country (USD Billion), 2021-2026
10. Europe Rocket Propulsion Historical Market: Breakup by Country (USD Billion), 2016-2020
11. Europe Rocket Propulsion Market Forecast: Breakup by Country (USD Billion), 2021-2026
12. Asia Pacific Rocket Propulsion Historical Market: Breakup by Country (USD Billion), 2016-2020
13. Asia Pacific Rocket Propulsion Market Forecast: Breakup by Country (USD Billion), 2021-2026
14. Latin America Rocket Propulsion Historical Market: Breakup by Country (USD Billion), 2016-2020
15. Latin America Rocket Propulsion Market Forecast: Breakup by Country (USD Billion), 2021-2026
16. Middle East and Africa Rocket Propulsion Historical Market: Breakup by Country (USD Billion), 2016-2020
17. Middle East and Africa Rocket Propulsion Market Forecast: Breakup by Country (USD Billion), 2021-2026
18. Global Rocket Propulsion Market Structure
Key Questions Answered in the Report
In 2020, the global rocket propulsion market attained a value of nearly USD 4.9 billion.
The market is projected to grow at a CAGR of 8.7% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 8.1 billion by 2026.
The market is being aided by the rising launches of rockets and space missions and the integration of the latest technologies in the manufacturing of rocket propellants.
The industry is expected to be driven by the rising demand for eco-friendly rocket propellants, the trend of 3D printing, and the development of innovative rocket propellants.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major types of rocket propulsion in the industry are solid, liquid, and hybrid.
The significant end uses in the market are civil and commercial, and military.
The major players in the industry 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 4.9 billion in 2020, 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 2021-2026, growing at a CAGR of 8.7%. The market is projected to reach about USD 8.1 billion by 2026.
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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