Global rocket propulsion market is anticipated to grow at a considerable CAGR of 5.3% during the forecast period (2024-2031). .The space industry's fast growth, driven by the need for satellite-based communications, navigation, earth observation, and research missions, has led to a surge in demand for efficient rocket propulsion systems.
Browse the full report description of “Rocket Propulsion Market Size, Share & Trends Analysis Report by Type (Rocket Motor And Rocket Engine), by Orbit Type (LEO and Elliptical, GEO and MEO) by Propulsion Type (Solid, Liquid and Hybrid) by Application Type (Communication, Earth Observation, Navigation, Global Positioning System (GPS) and Surveillance, and Technology Development and Education) and by End Users (Civil and Government, Commercial,and Military) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/rocket-propulsion-market
Moreover,countries such as the US, China, India, Japan, Russia, and organizations such as the European Space Agency have launched 19 space exploration or planetary missions such launches are further aiding ot the market demand. Every year, the global government budget grows larger. Governments are making investments in space exploration projects and infrastructure support. A company's capital expenditure is the acquisition of physical assets for the purpose of furthering its long-range company objectives and goals. As reported by Space Capital LP, a venture capital firm based in the US that invests in space-based methods, venture capital made investments of $17.1 billion into 328 space companies in 2021, which amounts to 3.0% of total global venture capital flows. As reported by USA Spending, a US-based official open data source of federal spending data, the National Aeronautics and Space Administration (NASA) had $30.44 billion in available budgetary resources in FY 2022 to propel advances in technology, aeronautics, and space exploration in order to enhance knowledge and innovation. As a result, rising government spending and capital investment by space agencies are projected to increase demand for rocket propulsion systems throughout the projected period.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Type
o By Orbit Type
o By Propulsion
o By Application
o By End Users
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includesAntrix Corporation Ltd., Mitsubishi Heavy Industries, Northrop Grumman and Safran SA, among others.
Key questions addressed by the report.
Global Rocket Propulsion Market Report Segment
By Type
By Orbit Type
By Propulsion
By Application
By End Users
Global Rocket Propulsion Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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