Strategic Forecast for the Solid Rocket Booster Industry: Market Outlook 2025-2034

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Solid Rocket Booster Market Size Growth Forecast: What to Expect by 2025?
There has been a substantial expansion of the solid rocket booster market in the most recent years. This growth trend is expected to persist, escalating from a market value of $3.33 billion in 2024 to reach $3.56 billion in 2025. This increase will occur at a compound annual growth rate of 6.9%. The reasons behind this historical growth include an increased demand induced by government-initiated space programs, an escalated use of intercontinental ballistic missiles, an expansion in the defense budgets formulated during the cold war-era, a growing dependence on certified propulsion technologies, and progress in military space functionalities.

How Will the Solid Rocket Booster Market Size Evolve and Grow by 2029?
A considerable surge is anticipated in the size of the solid rocket booster market in the upcoming years, with a growth prediction of $4.61 billion in 2029, reflecting a compound annual growth rate (CAGR) of 6.7%. This expansion during the forecast period can be credited to factors like the surge in commercial satellite launch frequency, augmented investments in recyclable launch systems, escalating space tourism demand, increased interest in deep space expedition missions, and greater participation of the private sector in space launches. Predominant trends for the forecast duration include enhancements in hybrid propulsion technology, breakthroughs in advanced thrust vector control systems, the creation of environmentally friendly solid propellants, innovations in lightweight composite materials, and a rise in automation in booster fabrication.

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What Drivers Are Propelling the Growth of Solid Rocket Booster Market Forward?
The escalating interest in exploring outer space is projected to spur the expansion of the solid rocket booster market. Space exploration encompasses both governmental and private pursuits outside the Earth's atmosphere, like the deployment of satellites, lunar expeditions, and journeys to other planets, all of which necessitate advanced propulsion systems. The curiosity in scientific exploration that challenges the limits of human understanding and technical innovation is fueling an increase in space exploration missions. Solid rocket boosters, which deliver the powerful initial push needed to thrust a spacecraft into orbit and overcome the Earth's gravitational field in space exploration, are pivotal to this growth. For example, the US International Trade Commission, a federal government agency based in the US, reported that the number of yearly global space launches surged to 186 in 2022 and further increased in 2023, reaching a total of 197 launches. Thus, the uptick in space exploration activities is fuelling the solid rocket booster market's growth.

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Which Emerging Trends Are Transforming the Solid Rocket Booster Market in 2025?
Leading firms in the solid rocket boosters market are concentrating on the advancement of new-age technologies such as human-rated solid propulsion systems, aiming to improve safety and dependability in manned space missions. These next-gen propulsion systems include stringent safety characteristics, prime quality insulation, and potent electromechanical actuators furnished with a plethora of backup systems to assure functional safety in the harshest situations. For example, in May 2022, the Indian Space Research Organisation (ISRO), a government-owned space body based in India, successfully conducted testing on the HS200 rocket booster. This booster, designed with a propellant capacity of 203 tons, is a human-rated solid rocket booster that features one of the most effective electromechanical control systems globally, boosting its structural solidity and ignition trustworthiness. Measuring 20 meters in length and 3.2 meters in diameter, it is globally recognised as the second largest functional solid booster, making a significant impact on the progression of launch vehicle competence for human space explorations.

What Are the Key Segments in the Solid Rocket Booster Market?
The solid rocket booster market covered in this report is segmented -

1) By Type: Reusable, Expendable
2) By Propellant Type: Composite Propellant, Double-Base Propellant, Other Propellants
3) By Application: Space Launch Vehicles, Military Applications, Research And Development, Commercial Launches
4) By End-User: Government, Private Sector, Defense Contractors, Space Agencies

Subsegments:
1) By Reusable: Space Shuttle Boosters, Space Launch System Boosters, Commercial Reusable Boosters, Military Reusable Boosters
2) By Expendable: Satellite Launch Boosters, Ballistic Missile Boosters, Interplanetary Mission Boosters, Tactical Missile Boosters

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Who Are the Key Players Shaping the Solid Rocket Booster Market's Competitive Landscape?
Major Companies operating in the solid rocket booster market are The Boeing Company, Lockheed Martin Corporation, RTX Corporation, China Aerospace Science and Technology Corporation, Northrop Grumman Corporation, Mitsubishi Heavy Industries Ltd., Safran S.A., Thales S.A., Space Exploration Technologies Corp., Elbit Systems Ltd., Blue Origin LLC, Rafael Advanced Defense Systems Ltd., ArianeGroup SAS, Korea Aerospace Industries Ltd., Defence Research and Development Organisation, Sierra Nevada Corporation, Nammo AS, General Dynamics Ordnance and Tactical Systems Inc., United Launch Alliance LLC, Avio S.p.A., ISRO Propulsion Complex, Tata Advanced Systems Limited, Antrix Corporation Limited.

What Geographic Markets Are Powering Growth in the Solid Rocket Booster Market?
North America was the largest region in the solid rocket booster market in 2024. The regions covered in the solid rocket booster market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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