Rocket Propulsion Market Worth $6.36 Billion by 2023

PUNE, India, August 29, 2018 /PRNewswire/ --

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(TM), 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.

(Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg )

Browse 60 market data Tables and 48 Figures spread through 153 Pages and in-depth TOC on "Rocket Propulsion Market - Global Forecast to 2023" https://www.marketsandmarkets.com/Market-Reports/rocket-propulsion-market-131843671.html [https://www.marketsandmarkets.com/Market-Reports/rocket-propulsion-market-131843671.html?utm_source=PRnewswire&utm_medium=Referral&utm_campaign=PaidPR ]

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 [https://www.marketsandmarkets.com/pdfdownload.asp?id=131843671&utm_source=PRnewswire&utm_medium=Referral&utm_campaign=PaidPR ]

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:https://www.marketsandmarkets.com/Market-Reports/rocket-propulsion-market-131843671 .html [https://www.marketsandmarkets.com/Market-Reports/rocket-propulsion-market-131843671.html?utm_source=PRnewswire&utm_medium=Referral&utm_campaign=PaidPR ]

About MarketsandMarkets(TM)  

MarketsandMarkets(TM) provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets(TM) for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets(TM) are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets(TM) now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets(TM) is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

        

        Contact: 
        Mr. Shelly Singh 
        MarketsandMarkets(TM) INC. 
        630 Dundee Road 
        Suite 430 
        Northbrook, IL 60062 
        USA: +1-888-600-6441 
        Email: sales@marketsandmarkets.com 

 

Research Insight: https://www.marketsandmarkets.com/ResearchInsight/rocket-propulsion-market.asp

Connect with us on LinkedIn: http://www.linkedin.com/company/marketsandmarkets

    Photo: 
    https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

SOURCE MarketsandMarkets