Description:Global Rocket Propulsion Market was valued US$ 3.73 Bn in 2019 and is expected to reach 7.20 Bn by 2027, at a CAGR of 9.83 % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was... moreGlobal Rocket Propulsion Market was valued US$ 3.73 Bn in 2019 and is expected to reach 7.20 Bn by 2027, at a CAGR of 9.83 % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
To know about the Research Methodology:-Request Free Sample Report
Growing usage of space launch services for satellites and testing probes applications is one of the momentous factors driving the growth of the global rocket propulsion market. Additionally, the introduction of space tourism is expected to increase the demand for rocket propulsion. High investments for the development of new technologies is one of the key challenge to the growth of the global rocket propulsion market.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments by material, type, end-user and region and, project the global rocket propulsion market. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global rocket propulsion market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Global Rocket Propulsion Market Segment Analysis:
The rocket engine segment is projected to grow at a high rate of CAGR during the forecast period. The growth of the rocket engine segment is attributed to the growing the number of launch service providers across the globe, reduction in rating for launches, and the increasing demand for reusable launch vehicles.
The hybrid propulsion segment is expected to lead the global rocket propulsion market. The leading position in the market is credited to the growing adoption of advanced liquid propulsion engines and increasing demand of rocket motors for space launch vehicles.
All the space agencies across the globe like NASA, ESA, JAXA, CNSA, SPACEX, and ISRO presently use chemical powered rocket engines such as cryogenic engine. Recently India developed its first cryogenic engine, which was GSLV Mk 3. Additionally, SPACEX successfully tested its Reusable launch vehicle falcon9 series, which was capable to successfully land on a drone ship in ocean. India is also developed its reusable launch vehicle RLV-TD, which marked a legendary growth of space technology in India.
Government organizations are entering into partnerships with the leading space key players for presenting technologically advanced propulsion solutions. For instance, In 2017, NASA (National Aeronautics and Space Administration) move in into an intentional partnership with SpaceX for employing advanced test facilities for expansively testing innovative space solutions like methane-fueled raptor rocket engine, which positively influencing the industry during the forecast period.
Global Rocket Propulsion Market Regional Analysis:
Geographically, North America is expected to share significant growth in the global rocket propulsion market followed by Asia Pacific. The significant share in the North American propulsion market is attributed to the increasing R & D research activities in the space sector by the NASA. R&D works are still enduring on this innovation even by NASA’s R&D wing like Eagle works, and China. This massless thrust making propulsion is quiet unanswered stuff among scientists, owing to its breaks almost all laws of conventional concepts of physics. Furthermore, Asia Pacific is expected to grow at high rate of CAGR during the forecast period.
The growth in the market is attributed to the growing demand for exploration activities among countries like India, China, and Japan. Growing space missions are projected to fuel the growth of the rocket propulsion market in the region.
Global Rocket Propulsion Market, Key Highlights:
• Global Rocket Propulsion Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Rocket Propulsion Market
• Global Rocket Propulsion Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Rocket Propulsion Market strategic analysis with... less
