Advanced Rocket & Missile Propulsion System Market Size – By Propulsion Technology (Solid Propulsion Systems, Liquid Propulsion Systems, Hybrid Propulsion Systems, and Others), By Platform Type (Land-Based Systems, Airborne Systems, Naval Systems, Space Systems), By End-user (Defense, Space and Civil & Commercial) & Region – Global Forecasts 2024 - 2034.
- PUBLISHED ON
- 2024-09-24
- NO OF PAGES
- 260
- CATEGORY
- Aerospace & Defense
Market Overview
The Advanced Rocket & Missile Propulsion System market is predicted to develop at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2034, when it is projected to reach USD 74,976.43 Million in 2034, based on an average growth pattern. The market is estimated to reach a value of USD 32,524.27 Million in 2024.
SOURCE: We Market Research
The Global
Advanced Rocket & Missile Propulsion System Market refers to the worldwide
industry involved in the development, production, and supply of propulsion
systems used in rockets and missiles for defense and space applications. These
propulsion systems provide the necessary thrust and power for missile and
rocket launch, flight control, and delivery to their target.
The Global
Advanced Rocket & Missile Propulsion System Market is driven by the
increasing focus on defense modernization, rising geopolitical tensions, and
the growing demand for advanced weapons systems. The rocket and missile
propulsion system market includes propulsion technologies used for the launch,
control, and power of missiles, rockets, and other aerospace vehicles. The
market consists of solid, liquid, and hybrid propulsion systems, with solid and
liquid being the dominant segments. Rising investments in military
modernization, space exploration programs, and next-gen missile technologies
(hypersonic, space-based) are propelling market growth.
The Global
Advanced Rocket & Missile Propulsion System Market is positioned for growth
due to a combination of defense and space-related investments. Hypersonic
technology, reusable rockets, and electric propulsion will be key areas of
innovation, shaping the future of both defense and space exploration markets.
Market Scope
|
Report Attributes |
Description |
|
Market Size in 2024 |
USD 32,524.27 Million |
|
Market
Forecast in 2034 |
USD 74,976.43
Million |
|
CAGR % 2024-2034 |
8.1% |
|
Base
Year |
2023 |
|
Historic Data |
2016-2022 |
|
Forecast
Period |
2024-2034 |
|
Report USP
|
Production,
Consumption, company share, company heatmap, company production capacity,
growth factors and more |
|
Segments
Covered |
By Propulsion
Technology, By Platform Type, By End-user and By Region |
|
Regional Scope |
North America,
Europe, APAC, South America and Middle East and Africa |
|
Country
Scope |
U.S.; Canada;
U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia;
China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico;
Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Advanced Rocket & Missile Propulsion System Industry: Dynamics & Restrains
Market opportunity:
We Market
Research: Advanced Rocket & Missile
Propulsion System Dashboard
Our marketing platform offers a comprehensive dashboard that provides clients with valuable insights into market trends over the years. Included below is a sample image of our dashboard, and specific PDF logins will be furnished to grant access to this insightful tool.
Advanced Rocket & Missile Propulsion System Segmentation
Market- By Propulsion Technology Analysis
By Propulsion
Technology, the Advanced Rocket & Missile Propulsion System market is categories
into Solid Propulsion Systems, Liquid Propulsion Systems, Hybrid Propulsion
Systems and Others. Solid propulsion systems dominate the market with the
largest share, accounting for over 45% of the market in 2023. Solid propulsion
systems are one of the oldest and most widely used technologies in rocket and
missile propulsion. These systems are simple, reliable, and easy to store for
long periods, making them particularly suitable for tactical missiles,
short-range ballistic missiles, and some space launch systems. The Minuteman
III ICBM used by the U.S. Air Force relies on solid-fuel technology, as do many
other nuclear-capable ballistic missile systems globally.
The
following segments are part of an in-depth analysis of the global Advanced
Rocket & Missile Propulsion System market:
|
Market Segments |
|
|
By Propulsion
Technology |
·
Solid Propulsion Systems ·
Liquid Propulsion Systems ·
Hybrid Propulsion Systems ·
Others |
|
By Platform
Type |
·
Land-Based Systems ·
Airborne Systems ·
Naval Systems ·
Space Systems |
|
By End-user |
·
Defense ·
Space ·
Civil & Commercial |
Advanced Rocket & Missile Propulsion System Industry: Regional Analysis
North America Market Forecast
North America dominates the global Advanced Rocket & Missile Propulsion System market, accounting for around 43% of the market share in 2023. North America, particularly the United States, dominates the advanced rocket and missile propulsion market due to its significant defense budget, advanced technological capabilities, and extensive space exploration programs. The U.S. is home to major defense contractors and space agencies such as NASA and DARPA, which drive innovation in missile and rocket propulsion technologies.
Europe Market Statistics
Europe is an
important player in the global advanced rocket and missile propulsion market,
with countries like France, Germany, and the UK investing heavily in defense
and space technologies. The European Space Agency (ESA) and defense contractors
such as Airbus and Thales are significant contributors to the market. The
Ariane 5 and Ariane 6 rockets developed by Arianespace are key European
contributions to the space launch market.
Asia Pacific Market Forecasts
The Asia Pacific
region is rapidly expanding in the advanced rocket and missile propulsion
market, driven by significant investments in defense and space exploration by
countries like China, India, and Japan. This region is witnessing rapid
advancements in missile technology and space missions. Countries like China and India are increasing their
defense budgets to develop advanced missile systems and enhance their military
capabilities. China’s space program, including the Long March rockets, and
India’s ISRO are driving advancements in rocket propulsion technologies.
Middle East & Africa Market Statistics
The Middle East and Africa have a smaller share of the global advanced rocket and missile propulsion market but are gradually increasing their involvement, primarily driven by defense needs and space exploration aspirations. Countries like Saudi Arabia, the UAE, and South Africa are investing in advanced propulsion technologies.
Key Market Players
The Advanced Rocket & Missile Propulsion System Market
is dominated by a few large companies, such as
·
Northrop Grumman
·
Lockheed Martin Corporation
·
Aerojet Rocketdyne
·
Raytheon Technologies
·
MBDA Missile Systems
·
Safran Group
·
BAE Systems
·
Kongsberg Gruppen
·
BrahMos Aerospace
·
Rafael Advanced Defense Systems
·
Bharat Dynamics Limited
· Other
1.
Global
Advanced Rocket & Missile Propulsion System Market Introduction and Market
Overview
1.1. Objectives of the Study
1.2. Global Advanced Rocket &
Missile Propulsion System Market Scope and Market Estimation
1.2.1. Global Advanced Rocket &
Missile Propulsion System Overall Market Size (US$ Bn), Market CAGR (%), Market
forecast (2024 - 2034)
1.2.2. Global Advanced Rocket &
Missile Propulsion System Market Revenue Share (%) and Growth Rate (Y-o-Y) from
2019 - 2034
1.3. Market Segmentation
1.3.1. Propulsion Technology of Global Advanced
Rocket & Missile Propulsion System Market
1.3.2. Platform Type of Global Advanced
Rocket & Missile Propulsion System Market
1.3.3. End-user of Global Advanced
Rocket & Missile Propulsion System Market
1.3.4. Region of Global Advanced Rocket
& Missile Propulsion System Market
2.
Executive Summary
2.1. Demand Side Trends
2.2. Key Market Trends
2.3. Market Demand (US$ Bn) Analysis
2019 – 2023 and Forecast, 2024 – 2034
2.4. Demand and Opportunity
Assessment
2.5. Demand Supply Scenario
2.6. Market Dynamics
2.6.1. Drivers
2.6.2. Limitations
2.6.3. Opportunities
2.6.4. Impact Analysis of Drivers and
Restraints
2.7. Pricing Trends Analysis
2.8. Overview of Technology Developments
2.9. Porter’s Five Forces Analysis
2.9.1. Bargaining Power of Suppliers
2.9.2. Bargaining Power of Buyers
2.9.3. Threat of Substitutes
2.9.4. Threat of New Entrants
2.9.5. Competitive Rivalry
2.10. PEST Analysis
2.10.1. Political Factors
2.10.2. Economic Factors
2.10.3. Social Factors
2.10.4. Technology Factors
2.11. Value Chain / Ecosystem Analysis
2.12. Key Regulation
3.
Global Advanced Rocket &
Missile Propulsion System Market Estimates &
Historical Trend Analysis (2019 - 2023)
4.
Global Advanced Rocket &
Missile Propulsion System Market Estimates &
Forecast Trend Analysis, by Propulsion Technology
4.1. Global Advanced Rocket &
Missile Propulsion System Market Revenue (US$ Bn) Estimates and Forecasts, by Propulsion
Technology, 2019 - 2034
4.1.1. Solid Propulsion Systems
4.1.2. Liquid Propulsion Systems
4.1.3. Hybrid Propulsion Systems
4.1.4. Others
5.
Global Advanced Rocket &
Missile Propulsion System Market Estimates &
Forecast Trend Analysis, by Platform Type
5.1. Global Advanced Rocket & Missile
Propulsion System Market Revenue (US$ Bn) Estimates and Forecasts, by Platform
Type, 2019 - 2034
5.1.1. Land-Based Systems
5.1.2. Airborne Systems
5.1.3. Naval Systems
5.1.4. Space Systems
6.
Global Advanced Rocket &
Missile Propulsion System Market Estimates &
Forecast Trend Analysis, by End-user
6.1. Global Advanced Rocket &
Missile Propulsion System Market Revenue (US$ Bn) Estimates and Forecasts, by End-user,
2019 - 2034
6.1.1.Defense
6.1.2.Space
6.1.3. Civil & Commercial
7.
Global Advanced Rocket &
Missile Propulsion System Market Estimates &
Forecast Trend Analysis, by Region
7.1. Global Advanced Rocket &
Missile Propulsion System Market Revenue (US$ Bn) Estimates and Forecasts, by Region,
2019 - 2034
7.1.1. North America
7.1.2. Eastern Europe
7.1.3. Western Europe
7.1.4. Asia Pacific
7.1.5. Middle East & Africa
7.1.6. Latin America
8.
North
America Advanced Rocket & Missile Propulsion
System Market: Estimates & Forecast
Trend Analysis
8.1.
North
America Advanced Rocket & Missile Propulsion System Market Assessments
& Key Findings
8.1.1. North America Advanced Rocket
& Missile Propulsion System Market Introduction
8.1.2. North America Advanced Rocket
& Missile Propulsion System Market Size Estimates and Forecast (US$ Billion)
(2019 - 2034)
8.1.2.1. By Propulsion
Technology
8.1.2.2. By Platform Type
8.1.2.3. By End-user
8.1.2.4. By Country
8.1.2.4.1. The U.S.
8.1.2.4.2. Canada
8.1.2.4.3. Mexico
9.
Western
Europe Advanced Rocket & Missile Propulsion
System Market: Estimates & Forecast
Trend Analysis
9.1. Western Europe Advanced Rocket
& Missile Propulsion System Market Assessments & Key Findings
9.1.1. Western Europe Advanced Rocket
& Missile Propulsion System Market Introduction
9.1.2. Western Europe Advanced Rocket
& Missile Propulsion System Market Size Estimates and Forecast (US$ Billion)
(2019 - 2034)
9.1.2.1. By Propulsion
Technology
9.1.2.2. By Platform Type
9.1.2.3. By End-user
9.1.2.4.
By
Country
9.1.2.4.1.
Germany
9.1.2.4.2.
Italy
9.1.2.4.3.
U.K.
9.1.2.4.4.
France
9.1.2.4.5.
Spain
9.1.2.4.6.
Benelux
9.1.2.4.7.
Nordics
9.1.2.4.8. Rest
of W. Europe
10. Eastern Europe Advanced
Rocket & Missile Propulsion System Market: Estimates & Forecast Trend Analysis
10.1. Eastern Europe Advanced Rocket
& Missile Propulsion System Market Assessments & Key Findings
10.1.1. Eastern Europe Advanced Rocket
& Missile Propulsion System Market Introduction
10.1.2. Eastern Europe Advanced Rocket
& Missile Propulsion System Market Size Estimates and Forecast (US$ Billion)
(2019 - 2034)
10.1.2.1. By Propulsion
Technology
10.1.2.2. By Platform Type
10.1.2.3. By End-user
10.1.2.4. By Country
10.1.2.4.1.
Russia
10.1.2.4.2.
Hungary
10.1.2.4.3.
Poland
10.1.2.4.4.
Balkan & Baltics
10.1.2.4.5. Rest of E. Europe
11. Asia Pacific Advanced
Rocket & Missile Propulsion System Market: Estimates & Forecast Trend Analysis
11.1. Asia Pacific Market Assessments
& Key Findings
11.1.1. Asia Pacific Advanced Rocket
& Missile Propulsion System Market Introduction
11.1.2. Asia Pacific Advanced Rocket
& Missile Propulsion System Market Size Estimates and Forecast (US$ Billion)
(2019 - 2034)
11.1.2.1. By Propulsion
Technology
11.1.2.2. By Platform Type
11.1.2.3. By End-user
11.1.2.4. By Country
11.1.2.4.1. China
11.1.2.4.2. Japan
11.1.2.4.3. India
11.1.2.4.4. Australia & New Zealand
11.1.2.4.5. South Korea
11.1.2.4.6. ASEAN
11.1.2.4.7. Rest of Asia Pacific
12. Middle East & Africa Advanced
Rocket & Missile Propulsion System Market: Estimates & Forecast Trend Analysis
12.1. Middle East & Africa Market
Assessments & Key Findings
12.1.1. Middle
East & Africa Advanced
Rocket & Missile Propulsion System Market Introduction
12.1.2. Middle
East & Africa Advanced
Rocket & Missile Propulsion System Market Size Estimates and Forecast (US$ Billion)
(2019 - 2034)
12.1.2.1. By Propulsion
Technology
12.1.2.2. By Platform Type
12.1.2.3. By End-user
12.1.2.4. By Country
12.1.2.4.1. UAE
12.1.2.4.2. Saudi
Arabia
12.1.2.4.3. Turkey
12.1.2.4.4. South
Africa
12.1.2.4.5. Rest of
MEA
13. Latin America
Advanced Rocket & Missile Propulsion System Market: Estimates & Forecast Trend Analysis
13.1. Latin America Market Assessments
& Key Findings
13.1.1. Latin America Advanced Rocket
& Missile Propulsion System Market Introduction
13.1.2. Latin America Advanced Rocket
& Missile Propulsion System Market Size Estimates and Forecast (US$ Billion)
(2019 - 2034)
13.1.2.1. By Propulsion
Technology
13.1.2.2. By Platform Type
13.1.2.3. By End-user
13.1.2.4. By Country
13.1.2.4.1. Brazil
13.1.2.4.2. Argentina
13.1.2.4.3. Colombia
13.1.2.4.4. Rest of
LATAM
14. Country Wise Market:
Introduction
15. Competition Landscape
15.1. Global Advanced Rocket &
Missile Propulsion System Market Product Mapping
15.2. Global Advanced Rocket &
Missile Propulsion System Market Concentration Analysis, by Leading Players /
Innovators / Emerging Players / New Entrants
15.3. Global Advanced Rocket &
Missile Propulsion System Market Tier Structure Analysis
15.4. Global Advanced Rocket &
Missile Propulsion System Market Concentration & Company Market Shares (%)
Analysis, 2023
16. Company Profiles
16.1.
Northrop Grumman
16.1.1. Company Overview & Key Stats
16.1.2. Financial Performance & KPIs
16.1.3. Product Portfolio
16.1.4. SWOT Analysis
16.1.5. Business Strategy & Recent Developments
* Similar details would be provided
for all the players mentioned below
16.2. Lockheed Martin
Corporation
16.3. Aerojet Rocketdyne
16.4. Raytheon
Technologies
16.5. MBDA Missile
Systems
16.6. Safran Group
16.7. BAE Systems
16.8. Kongsberg Gruppen
16.9. BrahMos Aerospace
16.10. Rafael Advanced
Defense Systems
16.11. Bharat Dynamics
Limited
16.12. Others
17. Research
Methodology
17.1. External Transportations /
Databases
17.2. Internal Proprietary Database
17.3. Primary Research
17.4. Secondary Research
17.5. Assumptions
17.6. Limitations
17.7. Report FAQs
18. Research
Findings & Conclusion
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Frequently Asked Questions
What is the market size of Advanced Rocket & Missile Propulsion System Market in 2024?
Advanced Rocket & Missile Propulsion System Market was valued at USD 32,524.27 Million in 2024.
What is the growth rate for the Advanced Rocket & Missile Propulsion System Market?
Advanced Rocket & Missile Propulsion System Market size will increase at approximate CAGR of 8.1% during the forecasted period.
Which are the top companies operating within the market?
Major companies operating within the market are Northrop Grumman, Lockheed Martin Corporation, Aerojet Rocketdyne, Raytheon Technologies, MBDA Missile Systems, Safran Group, BAE Systems, Kongsberg Gruppen, BrahMos Aerospace, Rafael Advanced Defense Systems, Bharat Dynamics Limited and others.
Which region dominates the Advanced Rocket & Missile Propulsion System Market?
North America dominates the market with an active share of 43%.
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