Rocket Engines Industry Report 2025-2034: Market Dynamics, Trends, And Forecasts

The Rocket Engines Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

How Big Is the Rocket Engines Market Size Expected to Be by 2034?
In the past few years, the rocket engines market has seen consistent expansion. It is predicted that the size of this market will enlarge from $3.86 billion in 2024 to $3.96 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 2.4%. Factors such as heightened government funding for space industries, an upsurge in satellite launches, lowered expenses for launches, the advancement of 3D printed engine components, and the appearance of reusable rockets have contributed to the growth witnessed in the historic period.

The size of the rocket engines market is anticipated to experience consistent growth in the upcoming years, expanding to $4.49 billion by 2029 with a compound annual growth rate (CAGR) of 3.2%. The growth during this forecast period can be credited to a rising number of rocket launches, increased defense funding, a surge in demand for small satellites, and the advent of space tourism. The forecast period also anticipates significant trends such as the heightened utilization of 3D printing, the integration of artificial intelligence (AI), and the adoption of shock waves.

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What Are the Emerging Segments Within the Rocket Engines Market?
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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What Long-Term Drivers Are Shaping Rocket Engines Market Trends?
The rocket engine market's expansion in the forecast period is anticipated to be fueled by a rise in rocket launches. Numerous companies and governmental bodies across the globe are preparing to initiate rocket launches and position a multitude of satellites in massive low-Earth orbit formations over the next ten years. The U.S. International Trade Commission highlighted that the total annual space launches amounted to 186 in 2022, but this figure is projected to climb to 197 space launches in 2023, according to their November 2023 report. Consequently, the surge in rocket launches is fuelling the growth of the rocket engine market.

Who Are the Top Competitors in Key Rocket Engines Market Segments?
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

What Are the Latest Developing Trends in the Rocket Engines Market?
The rise in popularity of 3D printing technology is a prominent trend in the rocket engines market. Both space organizations and private corporations are turning to the creation of 3D-printed rocket engines in an effort to lower expenses and expedite production. As an illustration, in May 2022, Gilmour Space Technologies, a space technology firm based in Australia, unveiled Phoenix, a rocket engine created using 3D printing technology and operating with liquid oxygen kerosene (LOx/Kero). Composed of more than 300 3D printed parts assembled via sophisticated manufacturing processes, the Phoenix engine is set to propel rockets to low Earth orbits. This engine is capable of carrying up to 1,000 kg to low Earth orbit (LEO), paving the way for a new paradigm for clients with smaller payloads. Furthermore, it possesses a superior thrust-to-weight ratio and is less likely to suffer from combustion imbalances.

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Which Regions Are Becoming Hubs for Rocket Engines Market Innovation?
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

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Rocket Engines Market?
2. What is the CAGR expected in the Rocket Engines Market?
3. What Are the Key Innovations Transforming the Rocket Engines Industry?
4. Which Region Is Leading the Rocket Engines Market?

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