The Business Research Company’s Rocket Engines Global Market Report 2021 – COVID 19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, September 9, 2021 /EINPresswire.com/ — Increasing rocket launches are expected to drive the growth of the rocket engines market in the coming years. Over the next decade, hundreds of corporations and government agencies around the world are planning to launch rockets and hold tens of thousands of satellites in large low-Earth orbit constellations. The number of rocket launches has increased at an average rate of around 8% per year, with 114 launches in 2018. By 2025 the U.S. launch rate alone will double to around 200 launches each year, even if half of the strategies are successful. Therefore, the increasing rocket launches propels the growth of the rocket engine market.
The global rocket engines market size is expected to grow from $2.44 billion in 2020 to $2.61 billion in 2021 at a compound annual growth rate (CAGR) of 7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The rocket engines market is expected to reach $2.88 billion in 2025 at a CAGR of 2.5%.
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Major players covered in the global rocket engines market are Aerojet Rocketdyne, Space X, Roscosmos, Mitsubishi Heavy Industries, Northrop Grumman, Safran, China Aerospace Science and Technology Corporation (CASC), NASA, Blue Origin, Lockheed Martin, The Boeing Company, Rocket Lab.
The rocket engines market consists of sales of rocket engines and relates services by entities (organizations, sole traders, or partnerships) that produce rocket engines. A rocket engine is a component of a propulsion system that uses the combustion of reactive chemicals to supply the necessary energy to run the rocket.
TBRC’s engines and rocket propulsion report is segmented by type into physically powered, chemically powered, electrically powered, thermal, nuclear, by product type into liquid rocket engine, solid rocket engine, and by application into spacecraft, ballistic missiles, others.
Rocket Engines Global Market Report 2021: COVID 19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides rocket engines market overview, forecast rocket engines market size and growth for the whole market, rocket engines market segments, and geographies, rocket engines market trends, rocket engines market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Source: EIN Presswire