Carrier Rocket Market to Record 10% CAGR Growth Through 2029 | Global Analysis Report

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Carrier Rocket Market Outlook: How is the Market Expected to Grow by 2025?
The market for carrier rockets has seen robust growth in recent years and is expected to expand from $12.46 billion in 2024 to $13.69 billion in 2025, with a compound annual growth rate (CAGR) of 9.9%. The upward trend in the historical period can be accredited to the proliferation of communication satellites, the increase in satellite usage for telecommunication and earth observation purposes, the rise in commercial space launches and satellite-based service sector, a growing demand for worldwide connectivity via satellite internet services, and the establishment of initiatives related to space tourism.

Carrier Rocket Market Forecast: What Size Will It Reach By 2029?
In the coming years, the carrier rocket market is projected to experience robust growth, scaling up to $20.03 billion by 2029, with a compound annual growth rate (CAGR) of 10.0%. The expansion during the forecasted period will be driven by factors such as the rise in satellite constellation deployments, growing requirements for space-based infrastructure and communications, intensified interest in interplanetary missions, increased global space infrastructure investment, and the burgeoning space tourism industry. Key trends anticipated for the forecast period encompass improvements in reusability, the downsizing of rocket components, intelligent rocket systems, augmented payload capacities, and pioneering propulsion technologies.

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Which Key Market Drivers Will Shape Carrier Rocket Industry Trends in 2025-2029?
The growth of the carrier rocket market is anticipated to be driven by increasing space explorations. These explorations entail journeys or missions beyond Earth, primarily involving astronauts and spacecraft, aimed at understanding outer space. The escalation in explorations is due to the quest for fresh resources and habitable spaces on different planets to address the difficulties faced on Earth. Carrier rockets hold pivotal significance in these explorations as they are responsible for carrying scientific instruments, satellites, and spacecraft from Earth to space. They provide the massive thrust necessary to counteract Earth's gravitational pull and meticulously follow a predetermined trajectory to position payloads into orbit or on paths to other planets. For instance, as reported by the Space Foundation, a nonprofit organization based in the US, in January 2024, a significant surge of 23% year over year was observed in 2023, with over 2,800 satellites launched into orbit. Thus, the growth of the carrier rocket market is anticipated to be spurred by the escalating number of space explorations.

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What Are the High-Growth Segments in the Carrier Rocket Market?
The carrier rocket market covered in this report is segmented -

1) By Type: Solid Rocket Boosters, Liquid Rocket Engines, Hybrid Rockets, Cryogenic Rockets
2) By Launch Frequency: Dedicated Launches, Rideshare Missions, Regularly Scheduled Launches
3) By Range: Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Earth Orbit (GEO), Other Ranges
4) By Launch Purpose: Satellite Deployment, Interplanetary Missions, Space Station Resupply, Scientific Research
5) By Industry Vertical: Government Space Agencies, Private Aerospace Companies, Educational and Research Institutions, International Space Organizations, Defense Agencies, Commercial Enterprise

Subsegments:

1) By Solid Rocket Boosters: In-Space Propulsion, Booster Staging, Suborbital Boosters
2) By Liquid Rocket Engines: Bipropellant Engines, Monopropellant Engines, Cryogenic Liquid Engines, Hypergolic Engines
3) By Hybrid Rockets: Liquid Oxidizer Hybrid Rockets, Solid Fuel Hybrid Rockets
4) By Cryogenic Rockets: Liquid Hydrogen (LH2) And Liquid Oxygen (LOX) Rockets, Liquid Methane (CH4) And Liquid Oxygen (LOX) Rockets

Which Global Trends Are Driving Carrier Rocket Market Expansion?
Top-tier companies in the carrier rocket industry are concentrating on product development, with a specific focus on solid-propellant carrier rockets. Their objectives are to increase payload capacity, streamline launch procedures, and cut overhead costs to accommodate the rising need for satellite installations and space explorations. Solid-propellant carrier rockets use a type of propulsion fuel which is pre-filled in a solid state and then ignited to produce thrust necessary for propelling payloads into space. A case in point is the successful launch of the CERES-1 Remote 16 carrier rocket in January 2025 by Galactic Energy, an aerospace firm based in China. The launch took place at the Jiuquan Satellite Launch Center, with five satellites being put into orbit. This marks the 16th mission in the Ceres-1 rocket series and underscores the rocket's dependability. With a total of 63 satellites deployed, it strengthens its status as one of China's prominent commercial launch vehicles.

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Who Are the Fastest-Growing Companies in the Carrier Rocket Industry?
Major companies operating in the carrier rocket market are Boeing Company, Lockheed Martin Corporation, China Aerospace Science and Technology Corporation, Northrop Grumman Corporation, Mitsubishi Heavy Industries Ltd., Space Exploration Technologies Corp. (SpaceX), Israel Aerospace Industries Ltd., Blue Origin LLC, United Launch Alliance LLC, Relativity Space Inc., Rocket Lab USA Inc., Firefly Aerospace Inc., ExPace Services Inc., Orbex Space Ltd., Virgin Orbit Inc., LandSpace Technology Corporation, Indian Space Research Organisation (ISRO), Eurockot Launch Services GmbH, Orbital ATK Inc., Skyrora Ltd.

What Is the Regional Outlook for the Carrier Rocket Market by 2029?
North America was the largest region in the carrier rocket market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the carrier rocket market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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