Dublin, Aug. 30, 2023 (GLOBE NEWSWIRE) -- The "Rocket Propulsion Market Report 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The Rocket Propulsion Market is anticipated to exhibit substantial growth, with the global revenue projected to surpass $5.56 billion in 2023. The forecast predicts strong revenue expansion up to the year 2033. The report offers insights into the organizations that possess the highest potential within the market, providing a comprehensive understanding of their capabilities, progress, and commercial prospects. This information can be instrumental in staying ahead in the industry.
The report is designed to benefit leading firms seeking new revenue opportunities, particularly those aiming to gain insights into the industry and its underlying dynamics. The report is also useful for companies planning to diversify into different sectors or expand their existing operations into new regions.
Market Dynamics and Key Drivers
The demand for space exploration, coupled with increased investments in the space sector, is driving the growth of the rocket propulsion market. One of the key factors contributing to this growth is the reusability of launch vehicles. Traditional expendable rockets are expensive to manufacture and can only be used once, resulting in high launch costs. Reusable rockets, on the other hand, can be utilized for multiple missions, distributing development and manufacturing costs over several launches. This cost reduction has made space access more affordable, creating new opportunities for commercial, scientific, and exploration missions. The ability to reuse rockets also allows space agencies to allocate resources more efficiently, facilitating a higher number of missions and scientific experiments.
Challenges and Constraints
However, the rocket propulsion market faces challenges that could hinder its growth. High development and manufacturing costs, particularly associated with building reliable and efficient propulsion systems, present a major hurdle. For example, the cost of producing engines for a space launch system (SLS) rocket can exceed $580 million. This financial barrier can pose difficulties for emerging players or start-ups with limited resources. Additionally, the market is witnessing the rise of alternative propulsion technologies, such as electric propulsion systems like ion thrusters. While these systems offer improved fuel efficiency and reduced operational costs compared to traditional chemical rocket engines, they also require higher initial investments.
Segmentation and Regional Analysis
The report delves into the segmentation of the rocket propulsion market, categorizing it based on types, components, and end users. It provides revenue predictions not only for the global market but also for five regions and 16 leading national markets. The covered regions include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Players and Company Profiles
The report features profiles of prominent companies operating in the Rocket Propulsion Market. Some of the leading companies profiled include Antrix, Aerojet Rocketdyne Holding, Inc., Mitsubishi Heavy Industries Ltd., Northrop Grumman Corporation, Safran S.A., SpaceX, Blue Origin, China Great Wall Industry Corporation, Virgin Galactic Holdings, Inc., and IHI Aerospace Co. Ltd.
In summary, the comprehensive report, spanning over 230 pages, offers a wealth of knowledge, including revenue forecasts up to 2033 for various market segments, regions, and national markets. It provides insights into the industry's prospects, valuable information for investments, and an understanding of the potential for revenue growth.
Market Dynamics
- Driving Factors
- Increasing Demand for Space Exploration
- Increasing Global Launch Activities and Investments in the Space Sector
- Reusability of Launch Vehicles
- Restraining Factors
- High Development and Manufacturing Costs
- Environmental Impact
- Opportunities
- Growing Market for Small Satellites in Space Sector
- Rising Demand for Environmentally Friendly Propulsion Systems
Companies Mentioned
- Aerojet Rocketdyne Holding, Inc.
- Antrix
- ArianeGroup
- Astra
- Blue Origin
- China Great Wall Industry Corporation
- Cornwall Spaceport
- EBARA Corporation
- Gilmour Space Technologies
- GKN Aerospace
- GMV
- IHI Aerospace Co. Ltd.
- Interstellar Technologies
- iRocket
- Lockheed Martin
- Mitsubishi Heavy Industries Ltd.
- Northrop Grumman Corporation
- PLD Space
- POLARIS
- Promethee Earth Intelligence
- Rocket Factory Augsburg (RFA)
- Rocket Lab
- Safran Aircraft Engines
- Safran SA
- Skyroot Aerospace
- Southern Launch
- Space Engine Systems
- SpaceX
- Unison Industries
- URSA Space Systems
- Virgin Galactic Holdings, Inc.
- X-Bow Launch Systems Inc. (X-Bow)
Key Topics Covered
1 Report Overview
2 Executive Summary
3 Market Overview
4 Rocket Propulsion Market Analysis by Type
5 Rocket Propulsion Market Analysis by Component
6 Rocket Propulsion Market Analysis by End User
7 Rocket Propulsion Market Analysis by Region
8 North America Rocket Propulsion Market Analysis
9 Europe Rocket Propulsion Market Analysis
10 Asia Pacific Rocket Propulsion Market Analysis
11 Latin America Rocket Propulsion Market Analysis
12 MEA Rocket Propulsion Market Analysis
13 Company Profiles
14 Conclusion and Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/cpkj9x
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