Rocket Propulsion Market by Type, Orbit, Propulsion, Component, Vehicle Type, End User, Region by Antrix Corporation Limited, Mitsubishi Heavy Industries Ltd., Space Exploration Technologies Corp., Aerojet Rocketdyne., Safran by 2030
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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.
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.
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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.
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.
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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.
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?
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