Product development strategies of Rocket Propulsion Market by prominent players Antrix Corporation Limited, Mitsubishi Heavy Industries

rocket propulsion market by type (rocket engine and rocket motor), orbit (low Earth orbit (LEO), medium Earth orbit (MEO), geostationary Earth orbit (GEO) and beyond geosynchronous orbit (BGEO)), propulsion ( solid propulsion, liquid propulsion and hybrid propulsion), component (engine housing, nozzle, ignition material, turbo pump, propellant and others), vehicle type (manned and unmanned) and end user (military and government and commercial) : Global Opportunities Analysis and Industry Forecast, 2022-2030.

Rocket Propulsion Trends

A rocket can be an airplane, spacecraft, missile, or vehicle that generates thrust. Thrust is generated by the rocket’s propulsion system. Rocket engines use three states of propellants: solid, liquid and hybrid (combination of solid and liquid propellants). Solid rocket motors use solid fuels, generate high thrust, and are more reliable than other propulsion systems. However, solid rocket motors do not have the ability to restart. While the liquid rocket motor uses liquid fuel, generates a lot of thrust and is more controllable than solid propellant rockets. However, liquid rocket motors have a complex design and therefore have high costs. The hybrid propulsion system in rockets uses both solid and liquid fuel in two different phases. Hybrid rocket motors possess solid and liquid propulsion system capabilities.

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Market Scope and Structure Analysis:

Report metric Details
Market size available for years 2020–2027
Base year considered 2019
Forecast period 2021–2027
Forecast units Value (USD)
Segments Covered Type, orbit, propulsion, component, vehicle type, end user and region
Regions covered North America (US and Canada), Europe (Germany, UK, France and Rest of Europe), Asia-Pacific (China, Japan, India and Rest of Asia-Pacific), Latin America ( Brazil, Mexico and rest of LATAM) and the Middle East and Africa
Companies covered Antrix Corporation Limited, Mitsubishi Heavy Industries Ltd., Space Exploration Technologies Corp., Aerojet Rocketdyne., Safran, BLUE ORIGIN, Virgin Galactic, JSC Kuznetsov, Yuzhmash and Rocket Lab USA

Analysis of the COVID-19 scenario:

  • Due to the COVID-19 situation, research and development of rocket boosters has been hampered due to declared lockdowns and government restrictions on public gatherings.
  • A slowdown in the economies of several countries has been observed due to the COVID-19 effect, which may limit investments by governments in their space organizations. Such reduction in investments will directly affect the growth of the rocket propulsion market.
  • Travel restrictions and reduction in military activities due to COVID-19 have also hurt the growth of the rocket propulsion market, as the rocket propulsion system is also used for seat ejection in airplanes, fireworks, etc
  • There will be a huge increase in demand in the rocket propulsion market in the near future as travel restrictions start to ease around the world.

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Main impact factors: analysis of market scenarios, trends, drivers and impact analysis

Rising demand for rocket propulsion due to increasing number of space expeditions, high efficiency and technological advancements in rocket propulsion and increasing commercial space industry applications are the factors that are driving the growth of the rocket propulsion systems market. However, political insurgencies among nations and lack of orbital debris disposal measures are the factors restraining the growth of the global rocket propulsion systems market. The introduction of space tourism and the maturing of reusable rocket technology are expected to further drive the demand for rocket propulsion in times to come.

Reusable rocket maturing technology

Major government agencies and private companies are investing heavily in research and development to advance rocket propulsion systems. Recently, few companies have begun to demonstrate reusable rocket technology. For example, NASA demonstrated its reusable rocket (Falcon 9) in July 2019. SpaceX and Blue Origin also recently demonstrated their reusable rockets. Using such reusable rockets can reduce the cost of each launch by $500 million to $50 million. Such reduction in operational costs will drive the growth of the rocket propulsion market.

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Political insurgencies between nations

Several countries depend on other countries to carry out certain space projects. For example, the United States depended on RD160 engines manufactured by the Russian company Energomash, until the political uprising with Russia in 2014. After losing the United States of its customer base, Energomash’s market share has considerably dropped. Such political insurgencies between nations are hampering the growth of the rocket propulsion systems market.

Key Segments Covered:

segments Sub-segments
Type rocket enginerocket engine
Orbit Low Earth Orbit (LEO)Mean Earth Orbit (MEO)Geostationary Earth Orbit (GEO)Beyond Geosynchronous Orbit (BGEO)
Propulsion Solid propulsionLiquid propulsionHybrid drive
Making up Crankcasenozzleignition materialturbo pumpPropellantOthers
Vehicle type Residespace capsuleWithout crewSmall Life launch vehicles (less than 350,000 kg)Medium to heavy vehicles (over 350,000 kg)
Final user Military and governmentCommercial

Key benefits of the report:

  • This study presents the analytical representation of the Rocket Propulsion industry together with current trends and future estimations to determine impending pockets of investment.
  • The report presents information related to key drivers, restraints, and opportunities, along with detailed analysis of the rocket propulsion market share.
  • Current market is quantitatively analyzed from 2020 to 2027 to highlight the growth scenario of the Rocket Propulsion market.
  • Porter’s Five Forces analysis illustrates the power of buyers and suppliers in the marketplace.
  • The report provides a detailed analysis of the Rocket Propulsion Market based on the competitive intensity and how the competition will take shape in the coming years.

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Rocket Propulsion Market Research Report Questions Answered:

  • Who are the major market players active in the rocket propulsion market?
  • What are the current trends that will influence the market in the coming years?
  • What are the market drivers, restraints and opportunities?
  • What are the projections for the future that would help to take new strategic steps?

Key market segments

segments Sub-segments
By type rocket engine rocket engine
By orbit Low Earth Orbit (LEO)Medium Earth Orbit (MEO)Geostationary Earth Orbit (GEO)Beyond Geosynchronous Orbit (BGEO)
By motorization Solid propulsionLiquid propulsionHybrid propulsion
By component Engine crankcase Nozzle Ignition material Turbo pump Propeller Others
By type of vehicle InhabitedWithout Habit
Per end user Military and GovernmentCommercial
By region North AmericaUnited StatesCanadaMexicoEuropeFranceGermanyUnited KingdomRussiaRest of EuropeAsia PacificChinaJapanIndiaSouth KoreaAustraliaRest of Asia PacificLAMEALLatin AmericaMiddle EastAfrica

Main market players

  • Antrix Company Limited
  • Mitsubishi Heavy Industries Ltd.
  • Space Exploration Technologies Corp.
  • Rocketdyne Aerojet.
  • Saffron
  • Galactic Virgo
  • JSC Kuznetsov
  • Yuzhmash
  • Rocket Lab United States

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Gary C. Lisi