Press release
Propelling Innovation : An In-Depth Analysis of the Rocket Propulsion Market at CAGR of 5.3% From 2022 to 2031
According to the report, the global rocket propulsion industry generated $5.1 billion in 2021, and is estimated to reach $8.5 billion by 2031, witnessing a CAGR of 5.3% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ : https://www.alliedmarketresearch.com/request-sample/7526
๐๐๐๐๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ :
Airbus
Rocket Lab USA
Boeing Company
Spacex
Virgin Galactic
Northrop Grumman
Moog Inc.
Safran S.A.
Mitsubishi Heavy Industries
Blue Origin
๐๐ก๐ ๐๐จ๐ฆ๐ฆ๐๐ซ๐๐ข๐๐ฅ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐๐จ๐ฆ๐ข๐ง๐๐ง๐๐ ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐
Based on end use, the commercial segment held the largest market share of two-thirds of the global rocket propulsion market size in 2021 and is expected to maintain its dominance during the forecast period. The same segment is projected to witness the largest CAGR of 5.5% from 2022 to 2031. Increase in deployment of satellites for commercial applications is anticipated to boost the growth of the segment.
๐๐ก๐ ๐๐๐ ๐๐ง๐ ๐๐ฅ๐ฅ๐ข๐ฉ๐ญ๐ข๐๐๐ฅ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐ซ๐ฎ๐ฅ๐ ๐ญ๐ก๐ ๐ซ๐จ๐จ๐ฌ๐ญ ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐
Based on orbit, the LEO and elliptical segment was the largest market in 2021, contributing to more than three-fourths of the global rocket propulsion market share, and is expected to maintain its leadership status during the forecast period. The same segment is projected to witness the fastest CAGR of 5.6% from 2022 to 2031. This is due to the benefits offered by LEO and elliptical-based rockets, such as shorter orbital periods, higher orbital velocities, shorter trips, low cost, and reduced latency. The increased satellite launching activities are also expected to supplement the segmental growth during the forecast period.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ : https://www.alliedmarketresearch.com/rocket-propulsion-market/purchase-options
๐๐ก๐ ๐๐จ๐ฆ๐ฆ๐ฎ๐ง๐ข๐๐๐ญ๐ข๐จ๐ง ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐๐จ๐ฆ๐ข๐ง๐๐ง๐๐ ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐
Based on application, the communication segment held the largest market share of nearly half of the global rocket propulsion market in 2021 and is expected to maintain its dominance during the forecast period. The same segment is projected to witness the largest CAGR of 5.9% from 2022 to 2031. This is due to the high demand for satellite communication systems from various industries and the increase in the installation of satellite connectivity systems by the defense and aviation industry.
๐๐จ๐ซ๐ญ๐ก ๐๐ฆ๐๐ซ๐ข๐๐ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐๐จ๐ฆ๐ข๐ง๐๐ง๐๐ ๐๐ฒ ๐๐๐๐
Based on region, North America was the largest market in 2021, capturing more than two-fifths of the global rocket propulsion market and is expected to maintain its leadership in terms of revenue during the forecast period. Initiatives taken by SpaceX and Amazon to establish a LEO constellation for boosting the U.S. communication network serve as a major accelerator for the segment. However, the market in Asia-Pacific is expected to manifest the fastest CAGR of 6.5% during the forecast period, as the region is one of the prominent geographical regions which is rapidly adopting rocket propulsion systems primarily due to the increase in the number of natural disasters, developments in the agricultural sector, and government investment in the defense sector.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/7526
๐๐๐๐๐-๐๐ ๐๐ฆ๐ฉ๐๐๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ :
The COVID-19 pandemic had an adverse effect on space and satellite manufacturing and consequently, on the rocket propulsion market.
There was a dearth of semiconductors all around the world, owing to a sudden increase in demand for consumer electronics. Nonetheless, investments done by companies to have technological dominance is expected to support the growth of the market in the future.
๐๐๐๐ ๐๐จ๐ซ๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ :
๐๐๐ฎ๐ฌ๐๐๐ฅ๐ ๐๐๐ฎ๐ง๐๐ก ๐๐๐ก๐ข๐๐ฅ๐ ๐๐๐ซ๐ค๐๐ญ : https://www.prnewswire.com/news-releases/reusable-launch-vehicle-market-to-reach-3-56-billion-globally-by-2035-at-10-3-cagr-allied-market-research-301626022.html
๐๐ฉ๐๐๐ ๐๐จ๐ฏ๐๐ซ๐ฌ ๐๐๐ซ๐ค๐๐ญ : https://www.prnewswire.com/news-releases/space-rover-market-to-reach-998-29-mn-globally-by-2030-at-9-2-cagr-allied-market-research-301249975.html
๐๐๐ณ๐ฆ๐๐ญ ๐๐ฎ๐ข๐ญ ๐๐๐ซ๐ค๐๐ญ : https://www.globenewswire.com/en/news-release/2021/10/05/2308883/0/en/Hazmat-Suits-Market-to-Garner-11-6-Billion-by-2030-Allied-Market-Research.html
๐๐จ๐ง๐ญ๐๐๐ญ :
David Correa
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