Rocket Engines Market: Robust Growth at 3.2% CAGR, Rising Demand, and Pioneering Trends

Rocket Engines Market: A Positive Trajectory with Room for Growth

What Is The Projected Market Size Of The Global Rocket Engines Market And Its Growth Rate?
• The rocket engines market size has witnessed consistent growth over the years. It is projected to grow from $3.86 billion in 2024 to $3.96 billion in 2025 at a CAGR of 2.4%.
• Numerous factors contribute to the market's expansion, including larger government budgets for the space industry, increased satellite launches, lower launch costs, development of 3D printed engine parts, and the introduction of reusable rockets.
• The rocket engines market is expected to experience further growth in the coming years, reaching $4.49 billion in 2029 at a CAGR of 3.2%.
• This forecast growth can be attributed to factors like increased rocket launches, raised defense budgets, the growing demand for small satellites, and the emergence of space tourism.

What Is Driving The Growth In The Rocket Engines Market?
The rocket engines market is primarily driven by the surge in rocket launches expected over the next decade. Several corporations and government agencies worldwide plan to launch rockets and position tens of thousands of satellites in large low-Earth orbit constellations. For instance, the U.S. International Trade Commission reported that total annual space launches in 2022 were 186, projected to increase to 197 in 2023. This rise in rocket launches helps propel the growth of the rocket engine market.

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Who Are the Key Players Driving Rocket Engines Market Growth?
• 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, Deep Blue Aerospace
• Reaction Engines
• Roll-Royce Limited
• Skyrora
• Safran Aircraft Engines

What Are The Key Trends In The Rocket Engines Market?
• An increasing use of 3D printing
• Adoption of artificial intelligence (AI)
• Use of shock waves in engine designs

What Are The Segments Of The Global Rocket Engines Market?
• By Type: Physically Powered, Chemically Powered, Electrically Powered, Thermal, Nuclear Rocket Engines
• By Product Type: Liquid Rocket Engines, Solid Rocket Engines
• By Application: Spacecraft, Ballistic Missiles, Others

Which Region Leads The Rocket Engines Market?
North America was the largest region in the rocket engines market in 2024 and is expected to be the fastest-growing region during the forecast period. The report covers the rocket engines market in diverse regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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What Is Covered In The Rocket Engines Market Global Market Report?
- Market Size Analysis: Analyze the Rocket Engines Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Rocket Engines Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Rocket Engines Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Rocket Engines Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements and new product launches in the market.

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