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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Rocket Solid Propulsion Market
Request Now !A rocket can be aircraft, spacecraft, missile, or a vehicle which generates thrust. Thrust is generated by propulsion system of the rocket. Rocket engines use three states of propellants: solid, liquid, and hybrid (combination of solid and liquid propellants). Solid rocket engines use solid fuels, generates high thrust, and are more reliable than other propulsion systems. Moreover, solid propulsion systems are easier to store & handle as compared to liquid propulsion system. Such features added with low maintenance costs makes solid propulsion rockets ideal for defense forces. In addition, solid propulsion system’s capability of generating high thrust enables rockets to carry higher payloads in comparison to other propulsion systems.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2020–2027 |
Base year considered | 2019 |
Forecast period | 2021–2027 |
Forecast units | Value (USD) |
Segments covered | Type, Orbit, Component, Vehicle Type, End User, and Region |
Regions covered | North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and The Middle East and Africa |
Companies covered | Antrix Corporation Limited, Mitsubishi Heavy Industries Ltd., Space Exploration Technologies Corp., Aerojet Rocketdyne, Safran, BLUE ORIGIN, Virgin Galactic, JSC KUZNETSOV, Yuzhmash, and ROCKET LAB USA |
COVID-19 Scenario analysis:
Rise in demand for rocket propulsion owing to increase in number of space expeditions, high efficiency & technological advancements in rocket solid propulsion, and rise in commercial applications of the space industry are some of the major factors that drive the growth of the rocket solid propulsion system market. However, political insurgencies between nations and lack of measures for disposal of orbital debris restrain the growth of the global rocket solid propulsion system market. On the contrary, the introduction of space tourism and maturing technology of reusable rockets are expected to further boost the demand for rocket solid propulsion in the future.
Several countries depend upon the other countries to carry out their certain space projects. For instance, USA was dependent on RD160 engines which are made by Russian company Energomash, until the political insurgency took place with Russia in 2014 over the issue of Crimea. As a result, the market share of Energomash has dropped significantly after losing USA from its client base. Hence, such political insurgencies between nations hampers the growth of the rocket solid propulsion system market.
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Questions answered in the rocket solid propulsion market research report:
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