Rocket Propulsion Global Market Set to Skyrocket to $11.58 Billion By 2032 with an Impressive CAGR 12.5% | Safran S.A., Blue Origin LLC, Skyrora Ltd., Arianespace SA, IHI Corporation

"The new report published by The Business Research Company, titled ""Rocket Propulsion Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the rocket propulsion market size has grown rapidly in recent years. It will grow from $6.32 billion in 2023 to $7.22 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The rocket propulsion market size is expected to see rapid growth in the next few years. It will grow to $11.58 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%.

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Government And Space Company Investments Drive Growth In Rocket Propulsion Market
Increased spending and capital investment by government bodies and space companies are significantly driving the rocket propulsion market. Capital investment refers to the acquisition of physical assets by a company for use in furthering its long-term business goals and objectives. Industries are investing huge capital in space exploration, and product innovation for technological advancements, and government agencies also taking initiatives and allowing them to spend more on research and development and produce more efficient and creative technology. For instance, according to Space Capital LP, a US-based venture capital firm that invests in space-based technologies, with another $7.2 billion invested in the Q1 2022, venture capital invested $17.1 billion into 328 space companies in 2021, accounting for 3% of total global venture capital flows. According to USAspending, a US-based official open data source of federal spending information, in FY 2022, the National Aeronautics and Space Administration (NASA) had $30.44 bn in available budgetary resources distributed among its 1 agency sub-components to drive advances in technology, aeronautics, and space exploration to enhance knowledge and innovation. Therefore, increasing spending and capital investment by government bodies and space companies is predicted to boost demand for rocket propulsion systems during the forecast period.

Technological Advancements Drive Innovation In Rocket Propulsion Market
Technological advancements and innovations are the key trends gaining popularity in the rocket propulsion market. Many research institutes and companies are developing innovative products to meet industry demands and strengthen their business presence in the rocket propulsion systems sector. For instance, in November 2022, Skyroot Aerospace, an India-based aerospace company, launched Vikram-S rocket, its first private-sector-built rocket equipped with four 3D-printed engines and was made out of carob fiber. The vehicle was equipped with a solid fuel-powered single-stage propulsion system. The mission will assist Skyroot Aerospace in obtaining approval for the technology to be employed in the upcoming Vikram-1 orbital rocket, scheduled for launch in 2023.

The rocket propulsion market covered in this report is segmented -
1) By Propulsion Type: Solid, Liquid, Hybrid
2) By Orbit Type: LEO, MEO, GEO, Beyond GEO
3) By Launch Vehicle Type: Manned, Unmanned
4) By End User Type: Civil and Commercial, Military

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Major companies operating in the rocket propulsion market include Aerojet Rocketdyne Holdings Inc., Mitsubishi Heavy Industries Ltd., Space Exploration Technologies Corp., Safran S.A., Blue Origin LLC, Northrop Grumman Innovation Systems Inc., Virgin Galactic Holdings Inc., Rocket Lab USA Inc., United Launch Alliance LLC, Boeing Space Launch System, Lockheed Martin Space Systems Company, Reaction Engines Ltd., Firefly Aerospace Inc., Sierra Nevada Corporation, ExPace Technology Co. Ltd., Relativity Space Inc., Arianespace SA, IHI Corporation, Skyrora Ltd., Masten Space Systems Inc., Gilmour Space Technologies Pty Ltd., ArianeGroup GmbH, Terran Orbital Corporation, PLD Space S.L., Dauria Aerospace, Raptor Aerospace Inc., Axiom Space Inc., CubeCab Services Private Limited, Space Perspective Inc., Stratolaunch Systems Corporation

Contents of the report:
1. Executive Summary
2. Rocket Propulsion Market Report Structure
3. Rocket Propulsion Market Trends And Strategies
4. Rocket Propulsion Market - Macro Economic Scenario
5. Rocket Propulsion Market Size And Growth
…..
27. Rocket Propulsion Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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