The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Increasing rocket launches are expected to drive innovation in rocket engines manufacturing, thus driving the market during the forecast period.

The global rocket engines market is expected to grow from $2.77 billion in 2022 to $2.71 billion in 2023 at a compound annual growth rate (CAGR) of -2.1%. The global rocket engines market size is expected to grow to $3.17 billion in 2027 at a CAGR of 3.9%.

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Global Rocket Engines Market Segments Include:

• By Type: Physically Powered, Chemically Powered, Electrically Powered, Thermal, Nuclear
• By Product Type: Liquid Rocket Engine, Solid Rocket Engine
• By Application: Spacecraft, Ballistic Missiles, Others
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global rocket engines market in 2021.

Major Market Players in the rocket engines market include Aerojet Rocketdyne, Space X, Roscosmos, Mitsubishi Heavy Industries, Northrop Grumman, Safran, China Aerospace Science, and Technology Corporation (CASC).

3D printing technology is the key trend gaining popularity in the rocket engine market. Space organizations and private companies are designing 3D-printed rocket engines to reduce costs and speed up production. For instance, in September 2020, NASA’s Rapid Analysis and Manufacturing Propulsion Technology (RAMPT) project is developing the production of an additive manufacturing methodology utilizing metal powder and lasers to 3D print rocket engine components. This technology is expected to reduce the cost of manufacturing complex combustion parts and also reduce the lead time of production. In February 2020, Skyrora, a US-based rocket start-up company, successfully tested its 3D-printed rocket engines.

The Rocket Engines Global Market Report 2023  provides a rocket engines market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The rocket engines market forecast analyzes rocket engines market size, rocket engines market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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. The rocket engine uses fuel and a source of oxygen to produce hot exhaust and accelerates the flow and produces thrust.

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