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Propulsion Systems Market Research (2023-2032)- Opportunity Assessment, Industry Insights, New Trends And Future Scope | Major Players Are CFM International, General Electric Company, Rolls-Royce Holdings, United Technologies, Safran S.A
Propulsion Systems Market
Propulsion Systems Market Size, Growth Rate, And Forecast:
The global propulsion systems market size grew from $286.93 billion in 2022 to $311.47 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The propulsion systems market size is expected to grow to $426.25 billion in 2027 at a CAGR of 8.2%.
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Propulsion Systems Market Drivers:
Rising defense expenditure is expected to propel the growth of the propulsion systems market going forward. Defense expenditure refers to the amount that a country spends on military measures or resources. Increasing defense expenditure is expected to boost demand for propulsion systems, as they play an integral role in various products such as rockets, unmanned aerial vehicles, satellite rockets, aircraft, and others.
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Propulsion Systems Market Segments:
By Type: Air Breathing, Non-Air Breathing
By Application: Airplanes, Missiles, Unnamed Aerial Vehicles, Spacecraft
By End-User: Commercial, Government & Military
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Propulsion Systems Market.
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Propulsion Systems Market Key Players:
Major competitors in the propulsion systems market include CFM International, General Electric Company, Rolls-Royce Holdings, United Technologies, Safran S.A., Honeywell International Inc., GKN Ltd., MTU Aero Engines AG.
The Business Research Company's "Global Propulsion Systems Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Propulsion Systems Market Include:
1. Executive Summary
2. Propulsion Systems Market Characteristics
3. Propulsion Systems Market Trends And Strategies
4. Propulsion Systems Market - Macro Economic Scenario
5. Propulsion Systems Market Size And Growth
……
26. Africa Propulsion Systems Market
27. Propulsion Systems Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Propulsion Systems Market
29. Propulsion Systems Market Future Outlook and Potential Analysis
30. Appendix
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