Space-Qualified Propellant Tank Market market is expected to grow at a CAGR of 10.1% during the forecasted period | Evolve Business Intelligence

As per the study initiated by Evolve Business Intelligence, the global Space-Qualified Propellant Tank Market size accounted for USD 2.6 Billion in 2023, growing at a CAGR of 10.1% from 2023 to 2033. A space-qualified propellant tank refers to a fuel or oxidizer storage container specifically designed and built to meet the rigorous requirements and standards for use in space missions. These tanks are an integral part of spacecraft and launch vehicles, serving to store and manage the propellants needed for propulsion systems.
Request/Download PDF Sample: https://report.evolvebi.com/index.php/sample/request?referer=OpenPR&reportCode=021532
As space exploration activities increase globally, there is a growing demand for reliable and durable space systems, including propellant tanks. Missions to explore celestial bodies, conduct scientific research, and deploy satellites drive the need for advanced propulsion systems. The increasing involvement of private companies in the space industry has led to a surge in demand for space-qualified components, including propellant tanks. Companies like SpaceX, Blue Origin, and others are actively developing and launching spacecraft, contributing to the growth of the market. National space agencies and government-funded space programs continue to be major players in the space industry. These entities drive the demand for space-qualified components for a variety of missions, including Earth observation, communications, and scientific exploration. Advances in materials science and manufacturing technologies contribute to the development of lighter, more durable, and cost-effective propellant tanks. Innovations such as additive manufacturing (3D printing) are increasingly being utilized to produce complex and optimized tank designs.
Key Players
Some of the major Space-Qualified Propellant Tank Market players holding high market shares include Airbus S.A.S, Adam Works, Ariane Group, Busek Co Inc., Cobham Mission System, and Infinite Composites Technologies. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include IHI Aerospace Co., Lockheed Martin Corporation, Microcosm, Inc., Moog Inc., OHB SE
For More Information: https://report.evolvebi.com/index.php/sample/request?referer=OpenPR&reportCode=021532
Segmental Analysis
Based on the platform, the Space-Qualified Propellant Tank market is segmented into Satellite, Launch Vehicles. The satellite platform segment is estimated to dominate the global space-qualified propellant tank market due to the rising development of satellite constellations for communication, Earth observation, navigation, and tracking purposes. The increasing demand for small satellites for various applications, such as broadband internet access, remote sensing, and surveillance, is driving the growth of the satellite platform segment.
Based on material, the Space-Qualified Propellant Tank market is Carbon Fiber, Aluminium and Titanium Alloys, Thermoset and Thermoplastic, Nanomaterials, and Others. Carbon fiber is the most prominent material contributing to the global space-qualified propellant tank market. The space industry has been using carbon fiber composites for manufacturing satellite structures and launch vehicle structures for several decades. Carbon fiber offers several advantages over traditional materials, such as high strength-to-weight ratio, lightweight, and corrosion resistance. These properties make carbon fiber an ideal material for propellant tanks, as they can withstand the extreme conditions of spaceflight while reducing the overall weight of the spacecraft.
Based on the manufacturing process, the Space-Qualified Propellant Tank market is an Automated Fiber Placement (ATL/AFP), Compression Molding, Additive Manufacturing, Conventional Manufacturing, and Others. Automated fiber placement (ATL/AFP) is the most advanced manufacturing process for space-qualified propellant tanks. ATL/AFP is a computer-controlled process that precisely places carbon fiber tows onto a mandrel, resulting in a high-strength, lightweight tank. ATL/AFP is becoming increasingly popular in the space industry due to its ability to produce complex shapes and geometries with high precision and repeatability.
Based on End Use, the Space-Qualified Propellant Tank market is Government and Military, Commercial. The commercial end-user segment is estimated to dominate the global space-qualified propellant tank market due to the increasing development of small satellite constellations by commercial industries for communication, remote sensing, Earth observation, and navigation. The growing demand for commercial space applications is driving the development of more efficient and cost-effective propellant tanks, which is benefiting the commercial end-user segment.
Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)

Address
Evolve Business Intelligence
C-218, 2nd floor, M-Cube
Gujarat 396191
India
Email: sales@evolvebi.com
Website: https://evolvebi.com/

About EvolveBI
Evolve Business Intelligence is a market research, business intelligence, and advisory firm providing innovative solutions to challenging pain points of a business. Our market research reports include data useful to micro, small, medium, and large-scale enterprises. We provide solutions ranging from mere data collection to business advisory.
Evolve Business Intelligence is built on account of technology advancement providing highly accurate data through our in-house AI-modelled data analysis and forecast tool - EvolveBI. This tool tracks real-time data including, quarter performance, annual performance, and recent developments from Fortune's global 2000 companies.

This release was published on openPR.