According to the new
market research report "Rocket
Propulsion Market” by Type (Rocket Motor, Rocket Engine), Orbit (LEO, MEO,
GEO, Beyond GEO), Launch Vehicle Type (Manned, Unmanned), End User (Military
& Government, Commercial), Propulsion Type, Component, Region - Global
Forecast to 2023", published by MarketsandMarkets™, the market is
estimated to be USD 4.23 billion in 2018 and is projected to reach USD 6.36
billion by 2023, at a CAGR of 8.50% from 2018 to 2023.
Increasing focus on
reducing mission cost with the use of small satellites, combined with higher
efficiency and technological advancements in rockets are expected to drive the
growth of the rocket propulsion market during the forecast period. Reduction in
cost is anticipated to provide impetus for small satellite missions and
spacecraft buses that support the same. In addition, technological advancements
are expected to further enhance the capabilities of small satellites and also
cost less. Moreover, increasing commercial applications of the space industry
are expected to lead to high-potential growth rate in future and are expected
to fuel production and drive the rocket propulsion market during the forecast
period.
Browse
60 market data Tables and 48 Figures spread through 153 Pages and in-depth TOC
on "Rocket Propulsion Market - Global Forecast to 2023"
Early
buyers will receive 10% customization on this report
Based
on type, the rocket engine segment is expected to lead the rocket propulsion
market during the forecast period
Based on type, the rocket
engine segment is expected to lead the rocket propulsion market during the
forecast period. Growth of the rocket engine segment can be attributed to the
increasing the number of launch service providers around the world, reduction
in prices for launches, and the growing demand for reusable launch vehicles.
Increasing capabilities of rocket engines and advanced technological options
for second stage engine integration are expected to contribute to the growth of
the rocket engine segment of the rocket propulsion market.
Based
on end user, the military & government segment of the rocket propulsion
market is anticipated to grow at the higher CAGR during the forecast period
Based on end user, the
military & government segment of the rocket propulsion market is expected
to grow at the higher CAGR from 2018 to 2023. Military communication &
surveillance satellites have a high demand owing to the increasing need to
boost national security. These satellites are intended to monitor the surface
of the Earth to obtain valuable information to map, survey, monitor
high-security areas, and other activities.
Ask
for PDF Brochure: https://www.marketsandmarkets.com/pdfdownload.asp?id=131843671
North
America is estimated to account for the largest share of the rocket propulsion
market in 2018
North America is
estimated to lead the rocket propulsion market in 2018. Increasing demand for
space launch services for various payloads, such as satellites, human
spacecraft, missions to ISS, and testing probes is anticipated to drive the
growth of the rocket propulsion market in North America. The region is
investing significantly for the development of space tourism and exploration
probe missions which is expected to add to the growth of rocket propulsion
market.
Major
players in the rocket propulsion market include Aerojet Rocketdyne (US),
Orbital ATK (US), SpaceX (US), Antrix (India), and Mitsubishi Heavy Industries
(Japan), among others.
Know
more about the Rocket Propulsion Market:
Browse
Related Report
Smart
Airports Market by Technology (Communication, Security,
Cargo & Baggage Handling, Traffic Control, Endpoint Devices), Landside,
Airside, Terminal Side, Application, Region - Global Forecast to 2021
Airport
Lighting Market by Type (Runway, Taxiway & Apron
Lighting Systems), Position (In-Pavement Lighting, Elevated Lighting &
PAPI), Technology (Non-LED and LED), and by Geography - Global Forecast to 2021
No comments:
Post a Comment