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What fueled the previous growth in the rocket engines market?

The market size of rocket engines has witnessed consistent growth in the past few years. The market is projected to expand from $3.86 billion in 2024 to $3.96 billion in 2025, with a compound annual growth rate (CAGR) of 2.4%. The factors contributing to the growth during the historic period include an increase in government funding for the space industry, a surge in satellite launches, a decrease in launch costs, the advent of 3D printed engine parts, and the launch of reusable rockets.

What will be the rocket engines market size in the future?

The market size for narcotics scanners is projected to surge impressively in the coming years, reaching a value of $11.55 billion in 2029, with a compound annual growth rate (CAGR) of 9.1%. This predicted growth during the forecast period can be credited to increased investment in public safety, an escalation in illicit drug manufacturing, market broaden strategies, the incorporation of AI and machine learning, and enhanced border and port security controls. The forecast period is expected to witness trends like a global upsurge in drug trafficking, regulatory mandates, improvements in port security, increased interest in non-intrusive inspections, and the integration of artificial intelligence capabilities.

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What main drivers are fueling expansion in the rocket engines market?

The rocket engines market is projected to expand owing to the expected rise in rocket launches during the forecast period. In the upcoming decade, an array of enterprises and governmental bodies globally are preparing for rocket launches and aiming to deploy tens of thousands of satellites into expansive constellations in low-Earth orbit. For example, the U.S. International Trade Commission, a government agency based in the US, revealed that in 2022, there were a total of 186 space launches, which are forecasted to escalate to 197 in 2023. Consequently, the surge in the number of rocket launches has stimulated the growth of the rocket engine market.

What key areas define the segmentation of the global rocket engines market?

The rocket engines market covered in this report is segmented –

1) By Type: Physically Powered, Chemically Powered, Electrically Powered, Thermal, Nuclear Rocket Engines

2) By Product Type: Liquid Rocket Engines, Solid Rocket Engines

3) By Application: Spacecraft, Ballistic Missiles, Others

Subsegments:

1) By Physically Powered: Mechanical Engines, Solid Propulsion Systems

2) By Chemically Powered: Liquid Rocket Engines, Solid Rocket Motors, Hybrid Rocket Engines

3) By Electrically Powered: Ion Thrusters, Hall Effect Thrusters, Electrospray Propulsion Systems

4) By Thermal: Nuclear Thermal Propulsion (NTP), Thermal Rocket Engines

5) By Nuclear Rocket Engines: Fission-Based Propulsion Systems, Fusion-Based Propulsion Systems (In Development)

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Who are the dominant players expanding their reach in the rocket engines market?

Major companies operating in the rocket engines 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), Roscosmos, Skyroot Aerospace, Gilmour Space Technologies, Deep Blue Aerospace, Reaction Engines, Roll- Royce Limited, Skyrora, Safran Aircraft Engines, Roxel, Pangea Aerospace, AVIO, ARCA space, ISAR Aerospace, EDePro, GKN Aerospace, Boeing Defence, Space & Security, Raytheon, Maxar Space, SpaceX, Orbital ATK, Virgin Galactic, Rocket Lab, Avibras Indústria Aeroespacial S/A, Israel Aerospace Industries, The Boeing Company

How are evolving market trends shaping rocket engines Strategies?

The increasing use of 3D printing technology in the rocket engines market is a notable trend. Various space bodies and private corporations are increasingly utilizing 3D-printed rocket engines in a bid to lower expenses and hasten manufacturing. A case in point occurred in May 2022, when Gilmour Space Technologies, a company based in Australia that specializes in space technology, introduced Phoenix, a rocket engine that uses liquid oxygen kerosene (LOx/Kero) and is produced through 3D printing. Comprising more than 300 3D-printed components, the Phoenix engine is assembled with a range of state-of-the-art production methods. This three-stage rocket is set to commence launches to low Earth orbits. The engine has the capacity to carry out a payload of up to 1,000 kg to low Earth orbit (LEO) and establish a new trend for small-payload customers. In addition, it boasts a superior thrust-to-weight ratio and has a lower probability of experiencing combustion irregularities.

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Which regions are emerging as leaders in the rocket engines market?

North America was the largest region in the rocket engines market in 2024. North America is expected to be the fastest-growing region in the global rocket engines market share during the forecast period. The regions covered in the rocket engines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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