Rocket Propulsion Systems Market Share

Statistics for the 2023 & 2024 Rocket Propulsion Systems market share, created by Mordor Intelligence™ Industry Reports. Rocket Propulsion Systems share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

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Market Share of Rocket Propulsion Systems Industry

The rocket propulsion systems market is consolidated, with a few players accounting for a significant share in the market. Some of the prominent companies in the market are Antrix Corporation Ltd, Safran SA, Aerojet Rocketdyne, and Orbital ATK. Several companies have formed long-term partnerships with government agencies to upgrade and enhance the space exploration capabilities and for the development of future programs of the countries. Companies are investing heavily in R&D for the innovation of new and advanced products and technologies that may help in new discoveries in space. The major players are working on alternative fuel technologies to save fuel and reduce carbon footprints. For instance, in December 2019, Aerojet Rocketdyne announced that it was working on a Hall thruster for the Gateway, a proposed space station in lunar orbit. Likewise, in February 2020, in the United Kingdom, Pulsar, a privately owned nuclear fusion firm, built and tested a prototype of a plasma-powered rocket engine that could propel spacecraft at 100,000 mph, which can theoretically reduce the journey time to Mars by as much as 50%. Such breakthrough technologies are expected to make space exploration and the related launch activities faster and more viable, thereby helping the growth of the market.

Rocket Propulsion Market Leaders

  1. Safran SA

  2. Aerojet RocketDyne

  3. Mitsubishi Heavy Industries, Ltd.

  4. Antrix Corporation Limited

  5. Northrop Grumman Corporation

*Disclaimer: Major Players sorted in no particular order

Antrix Corporation Ltd, Safran SA, Aerojet Rocketdyne, and Orbital ATK

Rocket Propulsion Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)