Double Base Propellant Market Share Grows Amid Rising Demand for Military and Aerospace Applications | Valuates Reports

Double Base Propellant Market Size
The global Double Base Propellant market was valued at US$ 2537 million in 2023 and is anticipated to reach US$ 3138.4 million by 2030, witnessing a CAGR of 3.1% during the forecast period 2024-2030.

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The Double Base Propellant Market is experiencing stable growth, driven by increased demand from the defense and aerospace sectors. Known for their high energy output and versatility, double base propellants-typically composed of nitroglycerin and nitrocellulose-are widely used in small arms ammunition, artillery systems, and missile propulsion.

In terms of market size, the industry is expanding steadily as nations invest in military modernization and space exploration programs. The continued procurement of advanced weaponry and strategic ammunition systems is directly boosting demand for reliable and high-performance propellants.

Companies with a strong foothold in defense manufacturing are capturing a larger market share by offering customizable and safer propellant formulations. These players are also focusing on enhanced storage stability and improved ballistic performance to meet evolving operational needs.

The market growth is further supported by innovation in propellant chemistry, aimed at reducing environmental impact and enhancing burn rates. Additionally, advancements in production methods and materials are helping to extend shelf life and improve manufacturing efficiency.

From a strategic market analysis perspective, global defense budgets and geopolitical developments play a crucial role in shaping demand. As regions strengthen their defense capabilities, suppliers are forming long-term partnerships with governments and private defense contractors to ensure supply chain resilience.

Consequently, revenue in the Double Base Propellant Market is expected to rise as defense infrastructure expands and aerospace innovation accelerates. With growing emphasis on performance, safety, and environmental responsibility, the market is poised for continued evolution and sustained demand.

Segment by Type

• Solid Propellant
• Liquid Propellant

Segment by Application

• Military
• Aerospace
• Civilian
• Other

By Company

Explosia, General Dynamics, Nitrochemie, Australian Munitions, Rheinmetall Defence, Eurenco, MAXAM Corp, BAE Systems, Forcit

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