Overview and Scope
A rocket engine is a component of a propulsion system that uses the combustion of reactive chemicals to supply the necessary energy to run the rocket. The rocket engine uses fuel and a source of oxygen to produce hot exhaust and accelerates the flow and produces thrust.
Sizing and Forecast
The rocket engines market size has grown exponentially in recent years. It will grow from $2.83 billion in 2023 to $3.49 billion in 2024 at a compound annual growth rate (CAGR) of 23.3%. The growth in the historic period can be attributed to increased government budgets for the space industry, rise in satellite launches, reduced launch costs, development of 3d printed engine parts and introduction of a reusable rocket.
The rocket engines market size is expected to see steady growth in the next few years. It will grow to $4.06 billion in 2028 at a compound annual growth rate (CAGR) of 3.9%. The growth in the forecast period can be attributed to increasing rocket launches, rise in defence budgets, growing demand for small satellites and introduction of space tourism. Major trends in the forecast period include increasing use of 3d printing, adopting the use of artificial intelligence (ai), and adopting the use of shock waves.
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Segmentation & Regional Insights
The rocket engines market covered in this report is segmented –
1) By Type: Physically Powered, Chemically Powered, Electrically Powered, Thermal, Nuclear Rocket Engines
2) By Product Type: Liquid Rocket Engines, Solid Rocket Engines
3) By Application: Spacecraft, Ballistic Missiles, Others
North America was the largest region in the rocket engines market in 2023. North America is expected to be the fastest-growing region in the global rocket engines market share during the forecast period. The regions covered in the rocket engines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increasing rocket launches are expected to drive the growth of the rocket engines market in the forecast period. Over the next decade, hundreds of corporations and government agencies around the world are planning to launch rockets and place tens of thousands of satellites in large low-Earth orbit constellations. By 2025, the U.S. launch rate alone will double to around 200 launches each year, even if half of the strategies are successful. Therefore, the increasing rocket launches propel the growth of the rocket engines market.
Key Industry Players
Major companies operating in the rocket engines market report are Aerojet Rocketdyne Holdings, Inc., Space Exploration Technologies Corp., Northrop Grumman Corporation, Mitsubishi Heavy Industries, Ltd., Blue Origin, LLC, IHI Corporation, National Aeronautics and Space Administration (NASA), Lockheed Martin Corporation, China Aerospace Science and Technology Corporation (CASC), Roscosmos, Skyroot Aerospace , Gilmour Space Technologies , NextAero , Deep Blue Aerospace , JZYJ Space Technology, Mitsubishi Heavy Industries, Tamadic Co Ltd , CASC, Reaction Engines , Roll- Royce Limited , Skyrora , Westcott’s Space Cluster, Orbital Propulsion Centre, Safran Aircraft Engines , Roxel, Pangea Aerospace, AVIO, ARCA space , ISAR Aerospace , Serbian Aerospace Industry , EDePro, GKN Aerospace, Boeing Defence, Space & Security, Raytheon , Maxar Space , SpaceX , Orbital ATK, Virgin Galactic , Rocket Lab, Avibras Indústria Aeroespacial S/A , LIA Aerospace, Israel Aerospace Industries , New Rocket, Marcom Aeronautics & Space, The Boeing Company
The rocket engines market report table of contents includes:
1. Executive Summary
2. Rocket Engines Market Characteristics
3. Rocket Engines Market Trends And Strategies
4. Rocket Engines Market - Macro Economic Scenario
5. Global Rocket Engines Market Size and Growth
...
32. Global Rocket Engines Market Competitive Benchmarking
33. Global Rocket Engines Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Rocket Engines Market
35. Rocket Engines Market Future Outlook and Potential Analysis
36. Appendix
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Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reportsThe Rocket Engines Global Market Report 2020-30 by The Business Research Company describes and explains the global rocket engines market and covers 2015 to 2020, termed the historic period, and 2020 to 2025, termed the forecast period, along with further forecasts for the period 2025-2030.
The report evaluates the market across each region and for the major economies within each region.The Rocket Engines Global Market Report 2021 covers rocket engines market drivers, rocket engines market trends, rocket engines market segments, rocket engines market growth rate, rocket engines market major players, and rocket engines market size.View Complete Report: https://www.thebusinessresearchcompany.com/report/rocket-engines-global-market-reportThe rocket engines market report provides an in-depth analysis of the impact of COVID-19 on the global rocket engines industry, along with revised market numbers due to the effects of the coronavirus and the expected rocket engines market growth numbers 2021-2030.Rocket Engines Global Market Report 2021 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
The chapter also covers markets which have been positively affected by the pandemic.Request For The Sample Now: https://www.thebusinessresearchcompany.com/sample.aspx?id=3670=smpThe global rocket engines market is expected to grow from $2.44 billion in 2020 to $2.61 billion in 2021 at a compound annual growth rate (CAGR) of 7%.
The market is expected to reach $2.88 billion in 2025 at a CAGR of 2.5%.The report covers the rocket engine market segments-1) By Type: Physically Powered, Chemically Powered, Electrically Powered, Thermal, Nuclear.2) By Product Type: Liquid Rocket Engine, Solid Rocket Engine.3) By Application: Spacecraft, Ballistic Missiles, Others.About The Business Research Company: The Business Research Company is a market research and intelligence firm that excels in company, market, and consumer research.
It has over 200 research professionals at its offices in India, the UK and the US, as well a network of trained researchers globally.
Falcon 9 is a reusable two-stage-to-orbit medium-lift launch rocket designed and manufactured by SpaceX.
It uses SpaceX Merlin engines, burning cryogenic liquid oxygen and rocket-grade kerosene as its propellants.
On Wednesday, SpaceX and NASA confirmed that they would launch the Crew-1 mission on 14th November, and it will carry four astronauts to the International Space Station.
The people involved in the project are still unsure about the reason behind engine failure, but they assume that they did a Hard Start to the engine.
This procedure is called Hard Start, which caused the hardware of the rocket to get damaged.
In extreme cases, it may cause more damage to the engine.” His claims point out that this was not really a loss but only a setback on which the team is currently working.Checking the Damage and Real IssueAfter this failed attempt, SpaceX technicians were determined to find the issue.
Rocket Engines Global Market Report 2021 by The Business Research Company is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact – both negative and positive – of COVID-19 on the rocket engines industry gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
This includes revised market numbers according to the effects of the coronavirus and the expected rocket engines market growth numbers 2021-2030.View Complete Report:https://www.thebusinessresearchcompany.com/report/rocket-engines-global-market-reportThe Rocket Engines Global Market Report 2020-30 by The Business Research Company provides an in-depth analysis of the global rocket engines market and covers both the historic period, 2015 to 2020, and the forecast period, 2020 to 2030.
The report evaluates the market and major economies across the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.The Rocket Engines Global Market Report 2021 covers rocket engines market drivers, rocket engines market trends, rocket engines market growth rate, rocket engines market major players, player-adopted strategies in the market, and rocket engines market size.
The global rocket engines market is expected to grow from $2.44 billion in 2020 to $2.61 billion in 2021 at a compound annual growth rate (CAGR) of 7%.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
