Global Rocket Propulsion Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Type;

Solid, Liquid, and Hybrid.

By Application;

Communication, Earth Observation, Navigation, Global Positioning System (GPS) and Surveillance, Technology Development and Education, and Others.

By Orbit;

LEO and Elliptical, GEO, and MEO.

By End Use;

Civil & Commercial, and Military.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn486588663 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global Rocket Propulsion Market (USD Million), 2021 - 2031

In the year 2024, the Global Rocket Propulsion Market was valued at USD 6,802.51 million. The size of this market is expected to increase to USD 11,658.31 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 8.0%.

The rocket propulsion systems market is witnessing steady growth, driven by several key factors. One significant factor is the increasing investments made by major economies worldwide in space centers and satellite launches. These investments signify a growing recognition of the importance of space exploration and satellite technology in various sectors, including communications, navigation, and scientific research. Additionally, there is a growing focus on reducing carbon footprints, leading to the exploration of alternate fuels for propulsion systems, which is contributing to technological advancements in the field.

The operating framework of the space industry presents unique challenges, particularly in the context of economic shocks such as the COVID-19 crisis. While the recent growth in the space sector has spurred entrepreneurship and start-up activity, certain segments, such as space exploration and satellite manufacturing, remain characterized by low production volumes and high levels of specialization. Moreover, the pandemic has exacerbated industry concentration risks, with smaller firms facing challenges in securing contracts and facing delays in product deliveries and mission deployments due to supply chain disruptions and social distancing measures.

Major players in the rocket propulsion market are supported by government investments in space-related initiatives, enabling them to allocate more resources to research and development. This continuous innovation cycle drives the development of more efficient and advanced propulsion technologies, further fueling market growth. However, challenges persist, particularly for smaller and younger firms dependent on contracts from larger players, highlighting the need for resilience and adaptability in the face of evolving market dynamics.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Type
    2. Market Snapshot, By Application
    3. Market Snapshot, By Orbit
    4. Market Snapshot, By End Use
    5. Market Snapshot, By Region
  4. Global Rocket Propulsion Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers;
        1. Technological Advancements in Rocket Propulsion Systems
        2. Military Modernization Programs and Defense Procurement
        3. Increasing Demand for Space Exploration Missions
      2. Restraints:
        1. High Development and Manufacturing Costs
        2. Technological Complexity and Integration Challenges
        3. Limited Access to Advanced Materials and Components
      3. Opportunities:
        1. Increasing Demand for Small Satellite Launch Services
        2. Expansion of Commercial Space Tourism and Exploration
        3. Growth of the Space Industry in Emerging Markets
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Rocket Propulsion Market, By Type, 2021 - 2031 (USD Million)
      1. Solid
      2. Liquid
      3. Hybrid
    2. Global Rocket Propulsion Market, By Application, 2021 - 2031 (USD Million)
      1. Communication
      2. Earth Observation
      3. Navigation
      4. Global Positioning System (GPS) and Surveillance
      5. Technology Development and Education
      6. Others
    3. Global Rocket Propulsion Market, By Orbit, 2021 - 2031 (USD Million)
      1. LEO and Elliptical
      2. GEO
      3. MEO
    4. Global Rocket Propulsion Market, By End Use, 2021 - 2031 (USD Million)
      1. Civil & Commercial
      2. Military
    5. Global Rocket Propulsion Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. SpaceX
      2. Aerojet Rocketdyne
      3. Orbital ATK
      4. Antrix
      5. Mitsubishi
      6. Heavy Industries
  7. Analyst Views
  8. Future Outlook of the Market