Rocket Engines Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends | Aerojet Rocketdyne Holdings, Inc., Space Exploration Technologies Corp

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Rocket Engines Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $4.06 billion In 2028 At A CAGR Of 3.9% :

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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Rocket Engines Market Major Segments
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

Key Driver - Surge In Rocket Launches Boosts Rocket Engines Market Growth

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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Prominent Trend - 3D Printing Technology Revolutionizes Rocket Engines Market

3D printing technology is the key trend gaining popularity in the rocket engines market. Space organizations and private companies are designing 3D-printed rocket engines to reduce costs and speed up production. For instance, in May 2022, Gilmour Space Technologies, Australia-based space technology company, launched Phoenix, a 3D printed liquid oxygen kerosene (LOx/Kero) engine. The Phoenix engine is made up of over 300 3D printed parts, which are assembled using a variety of advanced manufacturing techniques. The three-stage rocket is intended to start launching to low Earth orbits. The engine can deliver up to 1,000 kg to low Earth orbit (LEO) and create a new paradigm for small-payload clients. It has a higher thrust-to-weight ratio, and it is less likely to experience combustion instabilities.

Rocket Engines 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

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Largest And Fastest Growing Region In The Market
North America was the largest region in the rocket engines market in 2023. North America is expected to be the fastest-growing region in the global rocket engines market share during the forecast period. The regions covered in the rocket engines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Rocket Engines Market Report Structure
3. Rocket Engines Market Trends And Strategies
4. Rocket Engines Market - Macro Economic Scenario
5. Rocket Engines Market Size And Growth
…..
27. Rocket Engines Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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