Key Influencer in the Rocket Engines Market 2025: Surge In Rocket Launches Boosts Rocket Engines Market Growth Driver

What combination of drivers is leading to accelerated growth in the rocket engines market?
The rocket engines market is projected to expand due to the rise in rocket launches in the forecasted period. In the coming ten years, a multitude of enterprises and governmental institutions globally have proposals to launch rockets and deploy numerous satellites in large constellations in low-Earth orbit. For example, as reported by the U.S. International Trade Commission, a US government entity, in November 2023, the total yearly space launches in 2022 amounted to 186 and are predicted to advance to 197 space launches in 2023. Thus, the escalating frequency of rocket launches has stimulated the expansion of the rocket engine market.

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What is the projected compound annual growth rate (CAGR) of the rocket engines market from 2025 to 2034, and what factors influence it?
The market size for rocket engines has been experiencing consistent growth in the past few years. The market is projected to increase from $3.86 billion in 2024 to $3.96 billion in 2025, representing a compound annual growth rate (CAGR) of 2.4%. The historic growth can be attributed to factors such as higher government spending on the space sector, an increase in satellite launches, lower launch costs, advances in 3D printed engine parts, and the introduction of reusable rockets.

The market size for rocket engines is predicted to enjoy consistent expansion in the coming years. At a compound annual growth rate (CAGR) of 3.2%, it's expected to reach $4.49 billion by 2029. This growth trajectory can be linked to the increased frequency of rocket launches, augmentation in defense budgets, a surging demand for small satellites, and the emerging field of space tourism. The increasing utilization of 3D printing, adoption of artificial intelligence (AI), and usage of shock waves are prominent trends expected during the forecast period.

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What trends are poised to drive the future success of the rocket engines market?
The rocket engines market is currently witnessing the rise of 3D printing technology as a significant trend. Space companies, both governmental and private, are leveraging this technology to create rocket engines, with the objective of minimizing expenses and speeding up the production process. A good example of this occurred in May 2022 when Gilmour Space Technologies, a company based in Australia and specializing in space technology, initiated the launch of its 3D printed liquid oxygen kerosene (LOx/Kero) engine, Phoenix. This engine, composed of more than 300 3D printed components, used a host of advanced manufacturing methods for its assembly. Its design enables it for future launches to low Earth orbits. The Phoenix engine, capable of delivering up to 1,000 kg to a low Earth orbit (LEO), ushers in a new era for clients dealing with small payloads. It comes with a greater thrust-to-weight ratio and aminimized risk of combustion instabilities.

What are the major segments of the rocket engines market and their role in driving growth?
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

Subsegments:
1) By Physically Powered: Mechanical Engines, Solid Propulsion Systems
2) By Chemically Powered: Liquid Rocket Engines, Solid Rocket Motors, Hybrid Rocket Engines
3) By Electrically Powered: Ion Thrusters, Hall Effect Thrusters, Electrospray Propulsion Systems
4) By Thermal: Nuclear Thermal Propulsion (NTP), Thermal Rocket Engines
5) By Nuclear Rocket Engines: Fission-Based Propulsion Systems, Fusion-Based Propulsion Systems (In Development)

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Which regions are key players in the growth of the rocket engines market?
North America was the largest region in the rocket engines market in 2024. 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

Who are the key firms paving the way for growth in the rocket engines market?
Major companies operating in the rocket engines market include 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, Roxel, Pangea Aerospace, AVIO, ARCA space, ISAR Aerospace, EDePro, GKN Aerospace, Boeing Defence, Space & Security, Raytheon, Maxar Space, SpaceX, Orbital ATK, Virgin Galactic, Rocket Lab, Avibras Indústria Aeroespacial S/A, Israel Aerospace Industries, The Boeing Company

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What Is Covered In The Rocket Engines Global Market Report?

• Market Size Forecast: Examine the rocket engines market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the rocket engines market for a structured understanding.
• Key Players Overview: Analyze major players in the rocket engines market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the rocket engines market.
• Segment Contributions: Evaluate how different segments drive overall growth in the rocket engines market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the rocket engines market.
• Industry Challenges: Identify potential risks and obstacles affecting the rocket engines market.
• Competitive Landscape: Review strategic developments in the rocket engines market, including expansions, agreements, and new product launches.

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