Rocket Propulsion Market by Type (Rocket Motor and Rocket Engine), Orbit (Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Earth Orbit (GEO) and Beyond Geosynchronous Orbit (BGEO)), Propulsion (Solid Propulsion, Liquid Propulsion and Hybrid Propulsion), Component (Motor Casing, Nozzle, Igniter Hardware, Turbo Pump, Propellant and Others), Vehicle Type( Manned and Unmanned) and End User (Military & Government and Commercial): Global Opportunity Analysis and Industry Forecast, 2022-2030.
A rocket can be aircraft, spacecraft, missile, or a vehicle which generates thrust. Thrust is generated by propulsion system of the rocket. Rocket engines use three states of propellants: solid, liquid, and hybrid (combination of solid and liquid propellants). Solid rocket engines use solid fuels, generates high thrust, and are more reliable than other propulsion systems. However, solid rocket engines do not have the capability of restart. While liquid rocket engine uses liquid fuel, generates lots of thrust, and are more controllable than solid propellant rockets. However, liquid rocket engines have complex design and thereby having high costs. Hybrid propulsion system in rockets uses both solid & liquid fuel in two different phases. Hybrid rocket engines possess capabilities of both solid & liquid propulsion systems.
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Market scope and structure analysis:
| Report Metric | Details |
| Market size available for years | 2020–2027 |
| Base year considered | 2019 |
| Forecast period | 2021–2027 |
| Forecast units | Value (USD) |
| Segments covered | Type, Orbit, Propulsion, Component, Vehicle Type, End User, and Region |
| Regions covered | North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and The Middle East and Africa |
| Companies covered | Antrix Corporation Limited, Mitsubishi Heavy Industries Ltd., Space Exploration Technologies Corp., Aerojet Rocketdyne., Safran, BLUE ORIGIN, Virgin Galactic, JSC Kuznetsov, Yuzhmash, and Rocket Lab USA |
COVID-19 Scenario analysis:
- Due to COVID-19 situation, the research & development in rocket propellants has been hampered because of the declared lockdowns and government restrictions on public gatherings.
- Slowing sign in economies of several countries has been observed due to COVID-19 effect, which may limit governments investment in their space organizations. Such reduction in investment will directly affect growth in rocket propulsion market.
- Travel restrictions and reduction in military activities due to COVID-19 has also adversely affected the growth of the rocket propulsion market, as rocket propulsion system is also used in seat ejection in aircraft, fireworks etc.
- There will be a considerable rise in demand in rocket propulsion market in near future as travel restrictions start loosen up worldwide.
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Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Rise in demand for rocket propulsion owing to increase in number of space expeditions, high efficiency & technological advancements in rocket propulsion, and increase in commercial applications of the space industry are the factors which drive the growth of the rocket propulsion system market. However, political insurgencies between nations and lack of measures for disposal of orbital debris are the factors which are restraining the growth of the global rocket propulsion system market. The introduction of space tourism and maturing technology of reusable rockets are expected to further boost the demand for rocket propulsion in the subsequent times to come.
Maturing technology of reusable rockets
Major government bodies and private companies are investing heavily on research & development for the advancement of rocket propulsion systems. Recently, few companies have started to demonstrate technology of reusable rockets. For instance, NASA has demonstrated their reusable rocket (Falcon 9) in July 2019. SpaceX and Blue Origin have also recently demonstrated their reusable rockets. Use of such reusable rockets can reduce cost of every launch from 500 million USD to 50 million USD. Such reduction in operational cost will boost the growth of rocket propulsion market.
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Political insurgencies between nations
Several countries depend upon other countries to carry out their certain space projects. For instance, USA was dependent on RD160 engines which are made by Russian company Energomash, until the political insurgency took place with Russia in 2014. After losing USA from its client base, the market share of Energomash has dropped significantly. Such political insurgencies between nations hampers the growth of the rocket propulsion system market.
Key segments covered:
| Segments | Sub-segments |
| Type | Rocket MotorRocket Engine |
| Orbit | Low Earth Orbit (LEO)Medium Earth Orbit (MEO)Geostationary Earth Orbit (GEO)Beyond Geosynchronous Orbit (BGEO) |
| Propulsion | Solid PropulsionLiquid PropulsionHybrid Propulsion |
| Component | Motor CasingNozzleIgniter HardwareTurbo PumpPropellantOthers |
| Vehicle Type | MannedSpace CapsuleUnmannedSmall Life Launch Vehicles (less than 350,000 kg)Medium to Heavy Vehicles (more than 350,000 kg) |
| End User | Military & GovernmentCommercial |
Key benefits of the report:
- This study presents the analytical depiction of the rocket propulsion industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of rocket propulsion market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the rocket propulsion market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed rocket propulsion market analysis based on competitive intensity and how the competition will take shape in coming years.
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Questions answered in the rocket propulsion market research report:
- Which are the leading market players active in the rocket propulsion market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Key Market Segments
| Segments | Sub-segments |
|---|---|
| By Type | Rocket MotorRocket Engine |
| By Orbit | Low Earth Orbit (LEO)Medium Earth Orbit (MEO)Geostationary Earth Orbit (GEO)Beyond Geosynchronous Orbit (BGEO) |
| By Propulsion | Solid PropulsionLiquid PropulsionHybrid Propulsion |
| By Component | Motor CasingNozzleIgniter HardwareTurbo PumpPropellantOthers |
| By Vehicle Type | MannedUnmanned |
| By End User | Military & GovernmentCommercial |
| By Region | North AmericaU.S.CanadaMexicoEuropeFranceGermanyUKRussiaRest of EuropeAsia-PacificChinaJapanIndiaSouth KoreaAustraliaRest of Asia-PacificLAMEALatin AmericaMiddle EastAfrica |
Key Market Players
- Antrix Corporation Limited
- Mitsubishi Heavy Industries Ltd.
- Space Exploration Technologies Corp.
- Aerojet Rocketdyne.
- Safran
- BLUE ORIGIN
- Virgin Galactic
- JSC Kuznetsov
- Yuzhmash
- Rocket Lab USA
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