Rocket Propulsion Market By Type (Solid Propulsion, Liquid Propulsion, and Hybrid Propulsion), By Application (Commercial, and Military & Government), Industry Trends, Estimation & Forecast, 2023-2030

Market Overview

Rocket propulsion involves complex systems that ensure the vertical taking off rockets through ignition. The ignition generates the required thrust for the propulsion of the rocket into outer space, enabling acceleration at high speed to escape the earth’s gravity. The engine of the rocket also plays a vital role in its propulsion.

Rocket Propulsion market was valued at 6.4 billion US$ in 2022 and is projected to reach 10 billion US$ by 2030, at a CAGR of 5.7% during the forecast period.

Rocket Propulsion Market Revenue by, 2022-2030

Market Dynamics

The rising number of rockets propelled into space for exploration and research and consistent technological innovation to reduce operational costs of rocket propulsion are the primary factors driving the market growth. The increase in the number of space exploration missions being undertaken by several space organizations has increased rapidly in recent times, with many of the developing countries also sending rockets into space for exploration purposes. The rising interest among space scientists regarding the habitability of the surrounding planets has spurred several such space missions, which have in turn increased the demand for rocket propulsion systems. The efforts of cost reduction in the propulsion of a rocket into outer space have also seen considerable investments being made, with several companies looking to improve the performance of propulsion systems as well as optimization of the cost factor of space missions. The improvement in rocket propulsion systems would thereby guarantee a renewed interest in products among organizations aspiring to conduct space missions, which would improve the growth prospects of the market. However, high initial investments and issues of negative environmental impact might hamper the market growth. The manufacturing and installation of a rocket propulsion system is a cost-intensive process, with high capital expenditure required for the processing and maintenance of the propulsion systems. The propulsion of rockets also creates a fair amount of pollution in the environment, which might also act as barriers to market growth. The increasing private corporation investments into space exploration missions would provide lucrative opportunities for the market in the coming years. The influx of new venture capital into the development of rocket propulsion systems would provide crucial manufacturers with new possibilities of product application and business expansion over the forecast period.

Market Segmentation

The global Rocket Propulsion market is mainly classified based on Type and Application. Type is segmented into Solid Propulsion, Liquid Propulsion, and Hybrid Propulsion. By Application, the market is divided into Commercial and Military & Government.

The Liquid Propulsion segment by Type holds a substantial share in terms of overall market value and volume owing to the ability of liquid propellant thrusters to shut down and restart quickly during rocket flight operations. The amount of fuel burn and fuel burn rate can also be modified mid-flight, aiding in maneuvering for precise rocket positioning in a predetermined orbit.

In terms of volume, the Commercial consumption by Application is poised to garner 8,035 Units; growing at a CAGR of 9.4% during forecast period. The increasing investments made by commercial enterprises into the technological development of rocket propulsion systems would generate additional opportunities for segment growth over the forecast period. The rise in the number of commercial space missions would also improve the growth prospects of the segment.

Regional Analysis

Based on geography, the global Rocket Propulsion market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, Russia, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America. At the same time, the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

North America is a leading region in terms of overall production volume owing to the establishment of manufacturing facilities that cater to the needs of large-scale space organizations. The consistent investments into the expansion of production facilities would through venture capital funds continue to improve the growth prospects of the regional market.

Competitive landscape

The Rocket Propulsion market is moderately consolidated, with several global companies operating with expansive global reach and high-volume production capabilities for a global consumer base. The abilities of the manufacturers to cater to the customized needs of rocket propulsion systems would further strengthen their secure market positioning.

Key players operating in the Rocket Propulsion industry include Antrix Corporation Limited, Aerojet Rocketdyne Holdings, Inc., Mitsubishi Heavy Industries, Ltd., Northrop Grumman Corporation, The Boeing Company, Sierra Nevada Corporation, Safran SA, SpaceX, Blue Origin, JSC NPO Energomash, Virgin Galactic, IHI Corporation, JSC Kuznetsov, Yuzhmash, and Ad Astra Rocket Company.

The launch of new products after thorough technological innovation and expansion of business opportunities through strategic collaborations are the primarily followed business strategies of top players looking to capture substantial share during the forecast period.

Rocket Propulsion Market Key Segments:

By Type
• Solid Propulsion
• Liquid Propulsion
• Hybrid Propulsion

By Application
• Commercial
• Military & Government

Key Global Rocket Propulsion Industry Players
• Antrix Corporation Limited
• Aerojet Rocketdyne Holdings, Inc.
• Mitsubishi Heavy Industries, Ltd.
• Northrop Grumman Corporation
• The Boeing Company
• Sierra Nevada Corporation
• Safran SA
• SpaceX
• Blue Origin
• JSC NPO Energomash
• Virgin Galactic
• IHI Corporation
• JSC Kuznetsov
• Yuzhmash
• Ad Astra Rocket Company

Table of Content

1. Market Introduction
1.1. Executive Summary
1.2. Market Definition
1.3. Market Scope

2. Research Methodology
2.1. Primary Research
2.2. Research Methodology
2.3. Assumptions & Exclusions
2.4. Secondary data sources

3. Rocket Propulsion Market Overview
3.1. Report Segmentation & Scope
3.2. Key Market Trend
3.3. Drivers
3.3.1. Rising number of rockets propelled into space for exploration and research
3.3.2. Consistent technological innovation to reduce operational costs of rocket propulsion
3.4. Restraints
3.4.1. High initial investments and issues of negative environmental impact
3.5. Opportunity
3.5.1. Increasing private corporation investments into space exploration missions
3.6. Porter’s Five Forces Analysis
3.6.1. Porter’s Five Forces Analysis
3.7. Market Share Analysis

4. Type Overview
4.1. Introduction
4.1.1. Market Size & Forecast
4.2. Solid Propulsion
4.2.1. Market Size & Forecast
4.3. Liquid Propulsion
4.3.1. Market Size & Forecast
4.4. Hybrid Propulsion
4.4.1. Market Size & Forecast

5. Application Overview
5.1. Introduction
5.1.1. Market Size & Forecast
5.2. Commercial
5.2.1. Market Size & Forecast
5.3. Military & Government
5.3.1. Market Size & Forecast

6. Rocket Propulsion Market Regional Overview
6.1. Introduction
6.1.1. Market Size & Forecast
6.2. North America Rocket Propulsion Market
6.2.1. North America Market Size & Forecast, By Country
6.2.2. North America Market Size & Forecast, By Type
6.2.3. North America Market Size & Forecast, By Application
6.2.4. U.S.
6.2.4.1. Market Size and Forecast
6.2.5. Canada
6.2.5.1. Market Size and Forecast
6.2.6. Mexico
6.2.6.1. Market Size and Forecast
6.3. Europe Rocket Propulsion Market
6.3.1. Europe Market Size & Forecast, By Country
6.3.2. Europe Market Size & Forecast, By Type
6.3.3. Europe Market Size & Forecast, By Application
6.3.4. Germany
6.3.4.1. Market Size and Forecast
6.3.5. France
6.3.5.1. Market Size and Forecast
6.3.6. UK
6.3.6.1. Market Size and Forecast
6.3.7. Italy
6.3.7.1. Market Size and Forecast
6.3.8. Russia
6.3.8.1. Market Size and Forecast
6.3.9. Rest of Europe
6.3.9.1. Market Size and Forecast
6.4. Asia-Pacific Rocket Propulsion Market
6.4.1. Asia-Pacific Market Size & Forecast, By Country
6.4.2. Asia-Pacific Market Size & Forecast, By Type
6.4.3. Asia-Pacific Market Size & Forecast, By Application
6.4.4. Japan
6.4.4.1. Market Size and Forecast
6.4.5. China
6.4.5.1. Market Size and Forecast
6.4.6. Australia
6.4.6.1. Market Size and Forecast
6.4.7. India
6.4.7.1. Market Size and Forecast
6.4.8. South Korea
6.4.8.1. Market Size and Forecast
6.4.9. Rest of Asia-Pacific
6.4.9.1. Market Size and Forecast
6.5. South America Rocket Propulsion Market
6.5.1. South America Market Size & Forecast, By Country
6.5.2. South America Market Size & Forecast, By Type
6.5.3. South America Market Size & Forecast, By Application
6.5.4. Brazil
6.5.4.1. Market Size and Forecast
6.5.5. Argentina
6.5.5.1. Market Size and Forecast
6.5.6. Rest of South America
6.5.6.1. Market Size and Forecast
6.6. Middle East & Africa Rocket Propulsion Market
6.6.1. Middle East & Africa Market Size & Forecast, By Country
6.6.2. Middle East & Africa Market Size & Forecast, By Type
6.6.3. Middle East & Africa Market Size & Forecast, By Application
6.6.4. GCC Countries
6.6.4.1. Market Size and Forecast
6.6.5. Egypt
6.6.5.1. Market Size and Forecast
6.6.6. South Africa
6.6.6.1. Market Size and Forecast
6.6.7. Rest of Middle East & Africa
6.6.7.1. Market Size and Forecast

7. Company Profile
7.1. Antrix Corporation Limited
7.1.1. Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
7.1.2. Antrix Corporation Limited Product Category, Application, and Specification
7.1.3. Antrix Corporation Limited Financial Performance (2015-2019)
7.1.4. Main Business/Business Overview
7.2. Aerojet Rocketdyne Holdings, Inc.
7.3. Mitsubishi Heavy Industries, Ltd.
7.4. Northrop Grumman Corporation
7.5. The Boeing Company
7.6. Sierra Nevada Corporation
7.7. Safran SA
7.8. SpaceX
7.9. Blue Origin
7.10. JSC NPO Energomash
7.11. Virgin Galactic
7.12. IHI Corporation
7.13. JSC Kuznetsov
7.14. Yuzhmash
7.15. Ad Astra Rocket Company