Market Share of Thrust Vector Control Industry
The thrust vector control market is characterized by consolidation, with a few players holding significant market shares. Prominent market players include Honeywell International Inc., Moog Inc., BAE Systems, Woodward Inc., JASC, and others. With increasing competition, key players are focusing on developing advanced thrust vector control solutions for space and defense applications. The growing expenditure on research and development and the design and development of next-generation solutions are expected to create better opportunities in the coming years.
For instance, in November 2022, Moog Inc. announced that the company's space products played a crucial role in the successful launch of Artemis 1, NASA's first uncrewed test flight for its mission to return to the Moon. The company's thrust vector control actuators and controllers were used to steer each stage of the most powerful rocket ever built, ensuring the mission's success. Thus, the increasing spending on developing advanced thrust vector control solutions for end-users is expected to drive market growth.
Thrust Vector Control Market Leaders
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Honeywell International Inc.
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Moog Inc.
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Woodward Inc.
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JASC Corporation
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BAE Systems PLC
*Disclaimer: Major Players sorted in no particular order
