Rocket Engines Market Competitive And Growth Analysis 2024 - Major Players, High Growth Strategies And Opportunities | Aerojet Rocketdyne Holdings, Inc., Space Exploration Technologies Corp., Northrop Grumman Corporation, Mitsubishi Heavy Industries

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The Business Research Company presents an extensive market research report on the Rocket Engines Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The rocket engines market size has grown exponentially in recent years. It will grow from $2.83 billion in 2023 to $3.49 billion in 2024 at a compound annual growth rate (CAGR) of 23.3%. The growth in the historic period can be attributed to increased government budgets for the space industry, rise in satellite launches, reduced launch costs, development of 3d printed engine parts and introduction of a reusable rocket.

The rocket engines market size is expected to see steady growth in the next few years. It will grow to $4.06 billion in 2028 at a compound annual growth rate (CAGR) of 3.9%. The growth in the forecast period can be attributed to increasing rocket launches, rise in defence budgets, growing demand for small satellites and introduction of space tourism. Major trends in the forecast period include increasing use of 3d printing, adopting the use of artificial intelligence (ai), and adopting the use of shock waves.

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Key Market Players:

Major companies operating in the rocket engines market report are Aerojet Rocketdyne Holdings, Inc., Space Exploration Technologies Corp., Northrop Grumman Corporation, Mitsubishi Heavy Industries, Ltd., Blue Origin, LLC, IHI Corporation, National Aeronautics and Space Administration (NASA), Lockheed Martin Corporation, China Aerospace Science and Technology Corporation (CASC), Roscosmos, Skyroot Aerospace , Gilmour Space Technologies , NextAero , Deep Blue Aerospace , JZYJ Space Technology, Mitsubishi Heavy Industries, Tamadic Co Ltd , CASC, Reaction Engines , Roll- Royce Limited , Skyrora , Westcott's Space Cluster, Orbital Propulsion Centre, Safran Aircraft Engines , Roxel, Pangea Aerospace, AVIO, ARCA space , ISAR Aerospace , Serbian Aerospace Industry , EDePro, GKN Aerospace, Boeing Defence, Space & Security, Raytheon , Maxar Space , SpaceX , Orbital ATK, Virgin Galactic , Rocket Lab, Avibras Indústria Aeroespacial S/A , LIA Aerospace, Israel Aerospace Industries , New Rocket, Marcom Aeronautics & Space, The Boeing Company

Market Drivers:

Increasing rocket launches are expected to drive the growth of the rocket engines market in the forecast period. Over the next decade, hundreds of corporations and government agencies around the world are planning to launch rockets and place tens of thousands of satellites in large low-Earth orbit constellations. By 2025, the U.S. launch rate alone will double to around 200 launches each year, even if half of the strategies are successful. Therefore, the increasing rocket launches propel the growth of the rocket engines market.

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The rocket engines market covered in this report is segmented -

1) By Type: Physically Powered, Chemically Powered, Electrically Powered, Thermal, Nuclear Rocket Engines
2) By Product Type: Liquid Rocket Engines, Solid Rocket Engines
3) By Application: Spacecraft, Ballistic Missiles, Others

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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