What is the current Rocket Propulsion Systems Market size?

The Rocket Propulsion Systems Market is projected to register a CAGR of greater than 8.5% during the forecast period (2024-2029) Read More

Who are the key players in Rocket Propulsion Systems Market?

Safran SA, Aerojet RocketDyne, Mitsubishi Heavy Industries, Ltd., Antrix Corporation Limited and Northrop Grumman Corporation are the major companies operating in the Rocket Propulsion Systems Market. Read More

Which is the fastest growing region in Rocket Propulsion Systems Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Rocket Propulsion Systems Market?

In 2024, the Asia Pacific accounts for the largest market share in Rocket Propulsion Systems Market. Read More

What years does this Rocket Propulsion Systems Market cover?

The report covers the Rocket Propulsion Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Rocket Propulsion Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Rocket Propulsion Market - Size, Forecast & Report

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

The Report Covers Rocket Propulsion Market Analysis and it is Segmented by Type (Solid, Liquid, and Hybrid), End User (Civil and Commercial and Military), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The Market Size and Forecasts Are Provided in Terms of Value (USD Million) for All the Above Segments.

Rocket Propulsion Industry Overview

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.