Steady Expansion Forecast for Rocket Engines Market, Projected to Reach $4.49 Billion by 2029

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Rocket Engines Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The domain of rocket engines has expanded consistently in the past few years. The market, valued at $3.86 billion in 2024, is expected to rise to $3.96 billion in 2025, indicating a compound annual growth rate (CAGR) of 2.4%. Factors that have contributed towards the growth in the previous years include increment in government funding for space industry, surge in satellite launch activities, decrease in launch expenditures, evolution of 3D printed engine components, and the advent of reusable rockets.

Rocket Engines Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, the rocket engines market is anticipated to experience consistent expansion. By 2029, its value is predicted to reach $4.49 billion, reflecting a compound annual growth rate (CAGR) of 3.2%. The growth during this forecast period can be linked to factors such as an uptick in rocket launches, inflated defense budgets, escalating demand for small satellites, and the emergence of space tourism. Key trends expected to shape this market during the forecast period include the proliferating use of 3D printing, implementing artificial intelligence (AI), and the incorporation of shock waves.

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What Are the Drivers Transforming the Rocket Engines Market?
The rocket engines market is predicted to expand due to a rise in rocket launches during the forecasted range. Over the following ten years, various global corporations and government bodies are intending to initiate rocket launches and establish numerous satellites in expansive low-Earth orbit conglomerates. For instance, the U.S. International Trade Commission, an American government entity, reported in November 2023 that there were 186 total yearly space launches in 2022, and this figure is predicted to climb to 197 space launches in 2023. As a result, the surge in rocket launches has fueled the growth of the rocket engine market.

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What Long-Term Trends Will Define the Future of the Rocket Engines Market?
The rising trend in the rocket engines market is the use of 3D printing technology. Both public space institutions and private enterprises are utilizing 3D-printed rocket engines to cut down on expenses and accelerate production. For example, Gilmour Space Technologies, a space technology corporation based in Australia, initiated Phoenix, a 3D printed liquid oxygen kerosene (LOx/Kero) engine, in May 2022. With more than 300 3D printed components, the Phoenix engine is assembled through a range of sophisticated manufacturing processes. The engine is designed for launches to low Earth orbits and can carry up to 1,000 kg to such an orbit (LEO). This creates a new framework for small-payload customers with its high thrust-to-weight ratio and minimized risk of combustion instabilities.

Which Segments in the Rocket Engines Market Offer the Most Profit Potential?
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 Firms Dominate the Rocket Engines Market by Market Share and Revenue in 2025?
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

Which Regions Offer the Highest Growth Potential in 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

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