PUBLISHER: The Business Research Company | PRODUCT CODE: 1760420
PUBLISHER: The Business Research Company | PRODUCT CODE: 1760420
A space propellant tank is a specially engineered container used in rockets and spacecraft to store the fuel and oxidizer needed for propulsion in space. These tanks are designed to endure extreme temperatures, high pressures, and the vacuum of space while ensuring the safe and efficient delivery of propellants to the engine. Typically, space propellant tanks are constructed from lightweight and durable materials such as aerospace-grade metals or composites.
The primary types of space propellant tanks include liquid propellant tanks, solid propellant tanks, and hybrid propellant tanks. Liquid propellants are chemical substances in liquid form that generate thrust through controlled combustion in rocket engines. These tanks are made from materials like aluminum and titanium alloys, carbon fiber, nanomaterials, thermosets, and thermoplastics. Tank designs vary and include cylindrical, spherical, toroidal, and custom configurations. Applications span launch vehicles, satellites and spacecraft, orbital transfer vehicles, and deep space missions. The main end users are from the commercial and defense sectors.
The space propellant tank market research report is one of a series of new reports from The Business Research Company that provides space propellant tank market statistics, including the space propellant tank industry global market size, regional shares, competitors with the space propellant tank market share, detailed space propellant tank market segments, market trends, and opportunities, and any further data you may need to thrive in the space propellant tank industry. This space propellant tank market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The space propellant tank market size has grown strongly in recent years. It will grow from $3.32 billion in 2024 to $3.56 billion in 2025 at a compound annual growth rate (CAGR) of 7.1%. The growth during the historic period can be attributed to rising demand for satellite launches, expanding government space exploration initiatives, increasing defense spending on space programs, the development of commercial space tourism concepts, and greater utilization of small satellites.
The space propellant tank market size is expected to see strong growth in the next few years. It will grow to $4.63 billion in 2029 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to the increasing need for reusable launch vehicles, rising demand for space station resupply missions, expansion of private satellite networks, growing interest in asteroid mining projects, and heightened focus on deep space exploration missions. Key trends during this period include technological advancements in lightweight tank materials, innovations in cryogenic storage technologies, developments in composite material applications, investments in advanced manufacturing methods, and ongoing research and development aimed at improving fuel efficiency.
The increasing production and launch of satellites are expected to drive growth in the space propellant tanks market. This growth is fueled by advancements in small satellite technology, which enable faster deployment for uses such as communication, earth observation, and research. Space propellant tanks play a critical role by storing and managing the fuel needed for satellite propulsion, maneuvering, and orbital maintenance throughout their operational lifespan. For example, as of June 2023, the United Nations Office for Outer Space Affairs (UNOOSA), based in Austria and promoting peaceful international cooperation in space, reported 11,330 satellites orbiting Earth-a 37.94% increase since January 2022. Thus, the rise in satellite production and launches is boosting demand for space propellant tanks.
Key players in the space propellant tank market are advancing technologies like Zero-slosh propellant management to improve spacecraft stability and fuel control. This technology prevents the movement, or sloshing, of liquid propellants within tanks during spaceflight by using a rigid piston or similar device to separate liquid fuel from ullage gas. This ensures stable fuel distribution and enhanced maneuverability. For instance, in August 2024, Agile Space Industries, a US company specializing in spacecraft propulsion, launched Zero-Slosh piston tanks for storable propellants. These tanks incorporate a rigid piston to keep propellant steady, reducing sloshing, improving fuel stability, and allowing precise control during missions, especially for small spacecraft operating in microgravity. The design simplifies fuel management by eliminating the need for conventional anti-slosh systems, resulting in more efficient and cost-effective spacecraft.
In July 2023, L3Harris Technologies, a US defense and aerospace systems provider, acquired Aerojet Rocketdyne for $4.7 billion. This acquisition aimed to bolster L3Harris' presence in the expanding space and missile defense markets by incorporating Aerojet Rocketdyne's advanced propulsion technologies. Aerojet Rocketdyne, also US-based, specializes in space propellant tanks and related systems.
Major players in the space propellant tank market are Airbus S.A.S., Northrop Grumman Corporation, Eaton Corporation PLC, IHI Aerospace Co. Ltd., Rafael Advanced Defense Systems Ltd., Moog Inc., Blue Origin LLC, Ariane Group, MT Aerospace AG, Sierra Nevada Corporation, Nammo Space AS, European Space Agency (ESA), Dawn Aerospace, Agile Space Industries, Busek Co. Inc., Antrix Corporation Limited, Holscot Fluoropolymer Products Ltd., Infinite Composites Technologies, Firehawk Aerospace, Indian Space Research Organisation (ISRO).
North America was the largest region in the space propellant tank market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in space propellant tank report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the space propellant tank market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The space propellant tank market consists of sales of cryogenic propellant tanks, composite propellant tanks, metal propellant tanks, lightweight fuel tanks, oxidizer tanks, and multi-use propellant storage systems. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Space Propellant Tank Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on space propellant tank market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for space propellant tank ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The space propellant tank 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.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.