Rocket Engines Market Size Forecast: $4.47 Billion by 2029 | Global Outlook

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What Is the Projected Market Size Valuation of the Rocket Engines Market by 2025?
The market for rocket engines has seen a consistent expansion in the past few years. It is projected to increase from $3.83 billion in 2024 to $3.91 billion in 2025, boasting a compound annual growth rate (CAGR) of 2.1%. Elements such as heightened government funding for space-related activities, an upsurge in satellite deployments, decreased launch expenses, the evolution of 3D printed engine components, and the debut of reusable rockets have all contributed to the historical period's growth.

What Is the Estimated Market Growth Value for the Rocket Engines Industry in 2029?
The market size for rocket engines is anticipated to experience consistent growth in the forthcoming years. The market is projected to expand to $4.47 billion by 2029, boasting a compound annual growth rate (CAGR) of 3.4%. Several factors that contribute to this growth during the predicted period include heightened rocket launch activities, elevations in defense budgets, a rising demand for small satellites, and the advent of space tourism. Key trends predicted during this period involve a surge in the utilization of 3D printing, the adoption of artificial intelligence (AI), and the implementation of shock waves.

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What Are the Growth Drivers and Opportunities in the Rocket Engines Market?
The expected surge in rocket launches is anticipated to fuel the rocket engines market's expansion in the upcoming years. Globally, over the next ten years, a wide array of enterprises and governmental organizations plan to set forth rockets, establishing sizeable constellations of satellites in large low-Earth orbit. For example, data from the U.S. International Trade Commission, a US government agency, revealed that the total number of space launches in 2022 amounted to 186, which is predicted to reach 197 space launches in 2023. Consequently, this escalating trend of rocket launches enhances the growth dynamics of the rocket engine market.

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What Are the Primary Segments Covered in the Global Rocket Engines Market Report?
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)

What Are the Top Growth Trends in the Rocket Engines Market?
3D printing technology is becoming a prominent trend in the rocket engines market. Space entities and private firms are creating 3D-printed rocket engines to decrease expenses and expedite production. For example, Gilmour Space Technologies, a space technology company based in Australia, introduced Phoenix in May 2022. This 3D printed liquid oxygen kerosene (LOx/Kero) engine, Phoenix, comprises over 300 3D printed components, assembled by employing various sophisticated manufacturing methods. The triple-stage rocket is planned to begin trips to low Earth orbits. The Phoenix engine has the capability to transport up to 1,000 kg to low Earth orbit (LEO) and establish a fresh standard for small-payload customers. It offers a superior thrust-to-weight ratio and is less prone to combustion instabilities.

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Which Companies Are Shaping the Future of 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

Which Region Holds the Largest Market Share in the Rocket Engines Industry?
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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