Dublin, May 22, 2023 (GLOBE NEWSWIRE) -- The "Rocket Hybrid Propulsion Market by Type, Orbit, Component, Vehicle Type, End-user: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The Rocket Hybrid Propulsion Market is expected to experience a significant growth rate of 6.7% from 2022-2031 owing to increasing space exploration & satellite launches across the globe.
Key Market Players
- China Aerospace Science and Technology Corporation
- Environmental Aeroscience Corporation
- HyPrSpace
- Nammo AS
- Raytheon Technologies Corporation
- Virgin Galactic
- HyImpulse
- ISRO
- Northrop Grumman
- PULSAR FUSION
Hybrid rocket propulsion is a special type of propulsion system designed for rockets where the rocket motor utilizes propellants in two different states of matter i.e., one solid and the other either gas or liquid. Hybrid rockets refrain some disadvantages of solid rockets such as the dangers of propellant handling, while also avoiding some disadvantages of liquid rockets such as their mechanical complexity.
In addition to liquid rocket engines, hybrid rocket motors can be shut down easily and the thrust is throttleable. Normally, a hybrid rocket comprises a pressure vessel (tank) consisting of liquid propellant, a combustion chamber containing solid propellant, and a valve isolating the two.
When thrust is intended, a suitable ignition is introduced in the combustion chamber and the valve is opened. The liquid propellant flows into the combustion chamber where it is vaporized and then reacts with the solid propellant. Also, combustion occurs in a boundary layer diffusion flame, which is placed adjacent to the surface of the solid propellant.
Hybrid rockets have higher impulse than solid propulsion system and hence, they are considered in many specific areas of space transportation. The applications consist of lunar & planetary landers, microsatellites (orbit transfer & maneuvering), suborbital and orbital tourism vehicles. The most positive qualities of a hybrid propulsion are safety, simplicity, stop & restart ability, and throttling ability. Hybrid propellants are storable and non-toxic.
Usually, the liquid propellant is the oxidizer, and solid propellant is the fuel, because solid oxidizers are sometimes problematic and less performing than liquid oxidizers. Furthermore, using a solid fuel such as hydroxyl-terminated poly butadiene (HTPB) or paraffin wax allows for the incorporation of high-energy fuel additives such as aluminum, lithium, or metal hydrides.
The key factors driving the growth of the ricket hybrid propulsion market include increase in number of space explorations, rise in commercial applications of the space industry, and high efficiency & technological advancements in rocket propulsion which creates a wider scope for the growth of the market across the globe. Exploring the universe has been one of the major objectives of humankind.
Human interest has fueled curiosity in exploring and discovering new worlds, pushing the limits of the known, and increasing technical and scientific knowledge. States and space agencies have been involving in space exploration since the first space launch. The first space launch led to the first human space flight, which led to the first moonwalk.
At present attention has shifted to joint robotic and human missions, Mars, near-Earth asteroids, and destinations beyond solar system. The pace of space exploration was rapid with key developments in space policy. In December 2021, there were a record 19 people weightless in space, eight of them private citizens. The six tourist spaceflights in 2021 were also a record, and part of a resurgence in activity in space. In 2021, there were about 134 successful orbital missions in China, which were closer to the launches carried out by the U.S. in 2021.
The market also offers growth factors to the key players operating in the market to enhance their services, which creates ample opportunities for the growth of the market across the globe.
For instance, in April, 2022, Raytheon Technologies invested in Firehawk Aerospace, a company that specializes in high-performance propulsion technology.
Both companies collaboratively worked on research and development projects that explore the integration of Firehawk's technology into future missile systems, as Firehawk has several patents related to hybrid propulsion, various rocket propellants, and manufacturing methods.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the rocket hybrid propulsion market analysis from 2021 to 2031 to identify the prevailing rocket hybrid propulsion market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the rocket hybrid propulsion market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global rocket hybrid propulsion market trends, key players, market segments, application areas, and market growth strategies.
Market Dynamics
Drivers
- Increase in number of space exploration
- Rise in commercial applications of the space industry
- High efficiency & technological advancements in rocket propulsion
Restraints
- Lack of measures for disposal of orbital debris
- Political insurgencies between nations
Opportunities
- Advances in rocket propulsion
- Cost-effective spacecraft launches
Key Market Segments
By Type
- Rocket Motor
- Rocket Engine
By Orbit
- Low Earth Orbit (LEO)
- Medium Earth Orbit (MEO)
- Geostationary Earth Orbit (GEO)
- Beyond Geosynchronous Orbit (BGEO)
By Component
- Motor Casing
- Nozzle
- Igniter Hardware
- Turbo Pump
- Propellant
- Others
By Vehicle Type
- Manned
- Unmanned
By End User
- Military and Government
- Commercial
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
For more information about this report visit https://www.researchandmarkets.com/r/smn1lq
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