Market Research Report
Rocket Engines Global Market Opportunities And Strategies To 2030: COVID-19 Impact And Recovery
|Rocket Engines Global Market Opportunities And Strategies To 2030: COVID-19 Impact And Recovery|
Published: June 17, 2022
The Business Research Company
Content info: 234 Pages
Delivery time: 2-3 business days
“Rocket Engines Global Market Opportunities And Strategies To 2030: COVID-19 Impact And Recovery” from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global rocket engines market as it emerges from the COVID-19 shut down.
Where is the largest and fastest growing market for the rocket engines? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? “The rocket engines market global report” from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider rocket engines market; and compares it with other markets.
This report describes and explains the global rocket engines market and covers 2015 to 2020, termed the historic period, and 2020 to 2025 termed the forecast period, along with further forecasts for the period 2025-2030. The report evaluates the market across each region and for the major economies within each region.
The global rocket engines market reached a value of nearly $3,969.0 million in 2020 to $4,510.2 million in 2025 at a rate of 2.6%. The market is then expected to grow at a CAGR of 4.7% from 2025 and reach $7,451.9 million in 2030.
Growth in the historic period resulted from increased government budgets for the space industry, rise in satellite launches, reduced launch costs, development of 3d printed engine parts and introduction of a reusable rocket. Factors that negatively affected growth in the historic period were lack of dedicated launch vehicles for the launch of small satellites and measures for the disposal of orbital debris.
Growth in the forecast period resulted from increasing rocket launches, rise in defence budgets, growing demand for small satellites and introduction of space tourism. Factors that negatively affected growth in the forecast period were high investment for producing rocket engines, rocket emissions and coronavirus pandemic.
The rocket engines market is segmented by type into physically powered, chemically powered, electrically powered, thermal, and nuclear rocket engines. The physically powered segment of the rocket engines market accounted for $2,415.6 million in 2020 and expected to reach a value of $3,181.2 million by 2025, at a CAGR of 5.7%. Thermal segment is expected to be the fastest growing segment in the rocket engine market segmented by type, going forward, at a CAGR of 6.2% during 2020-2025.
The rocket engines market is also segmented by product type into liquid rocket engines, and solid rocket engines. The solid rocket engine was the largest segment of the rocket engines market segmented by product type, accounting for 81.5% of the total in 2020.
The rocket engines market is also segmented by application into spacecraft, ballistic missiles and others. The spacecraft market was the largest segment of the rocket engines market segmented by end-user, accounting for 59.6% of the total in 2020. Going forward, the ballistic missiles segment is expected to be the fastest growing segment in the rocket engines market segmented by application, at a CAGR of 6.3% during 2020-2025.
North America was the largest region in the global rocket engines market, accounting for 39.1% of the total in 2020. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the rocket engines market will be North America and Middle East, where growth will be at CAGRs of 7.9% and 5.7% respectively during 2020-2025. These will be followed by Asia-Pacific and Africa, where the markets are expected to grow at CAGRs of 4.9% and 3.8% respectively during 2020-2025.
The global ship repairing market is fairly concentrated, with a few large players dominating the market. The top ten competitors in the market made up to 40.03% of the total market in 2020. Major players in the market include Aerojet Rocketdyne Holdings, Inc., Space Exploration Technologies Corp., Northrop Grumman Corporation, Mitsubishi Heavy Industries, Ltd., Blue Origin, LLC, IHI Corporation, National Aeronautics and Space Administration (NASA), Lockheed Martin Corporation, China Aerospace Science and Technology Corporation (CASC) and Roscosmos.
The top opportunities in the rocket engines market segmented by type will arise in the physically powered segment, which will gain $765.6 million of global annual sales by 2025. The top opportunities in the rocket engines market segmented by product type will arise in solid rocket engine segment, which will gain $1,167.9 million of global annual sales by 2025. The top opportunities in the rocket engines market segmented by application will arise in spacecraft segment, which will gain $783.1 million of global annual sales by 2025. The rocket engines market size will gain the most in the USA at $695.7 million.
Market-trend-based strategies for the rocket engines includes increasing use of 3D printing, adopting the use of artificial intelligence (AI), and adopting the use of shock waves.
Player-adopted strategies in the rocket engines market include investing in expanding manufacturing operations, improving infrastructure and in acquisitions and mergers to strengthen their service offerings.
To take advantage of these opportunities, The Business Research Company recommends the rocket engine companies top focus on 3D printing technology, invest in innovative rocket engines, expand in developed nations, focus on skimming prices, b2b promotion, focus on end user companies, focus on space tourism companies.