What Factors Will Shape The Solid Rocket Booster Market Growth Path To $4.61 Billion By 2029?

November 6, 2025November 6, 2025 by The Business Research Company

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What Is The Global Size Of The Solid Rocket Booster Market In 2024?

The market encompassing solid rocket boosters has experienced substantial escalation lately, with projections indicating an expansion from a valuation of $3.33 billion in 2024 to $3.56 billion in 2025, reflecting a consistent annual growth rate of 6.9%; this upward trend observed over the historical timeframe is largely fueled by the escalating requirements of state-sponsored space initiatives, the heightened deployment of intercontinental ballistic missiles, the replenishment of defense spending mirroring Cold War levels, a greater dependence on propulsion systems with established reliability, and continuous enhancements within military space technology.

Anticipation is high for substantial expansion within the solid rocket booster sector over the coming years, projecting a market valuation of $4.61 billion by the year 2029, propelled by a compound annual growth rate (CAGR) of 6.7%; this upward trajectory is fueled by several factors, notably the heightened pace of commercial satellite deployment, augmented capital flowing into reusable launch vehicle technology, the escalating appetite for space tourism ventures, heightened exploration efforts directed toward deep space, and the broadening involvement of private enterprises in space launch activities, concurrently, key shifts shaping the market landscape involve progress in hybrid propulsion methods, sophisticated thrust vector control mechanisms, the creation of environmentally conscious solid propellants, novel applications of lightweight composite substances, and a move toward greater automation in the production processes of boosters.

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What Market Dynamics Are Driving The Solid Rocket Booster Industry?

Anticipated advancements in space exploration activities are set to fuel the expansion of the market centered on solid rocket boosters. This exploration encompasses both governmental initiatives and commercial endeavors venturing beyond Earth’s atmospheric cover, involving tasks like placing satellites, executing lunar journeys, and embarking on interplanetary travel, all necessitating advanced means of propulsion. The surge in these space missions is naturally linked to heightened scientific curiosity, which continually challenges the limits of both understanding and technological capability. Solid rocket boosters are essential for delivering the substantial initial impetus needed to propel spacecraft onto their orbital trajectories, successfully conquering terrestrial gravity in the context of space endeavors. To illustrate this trend, data from the US International Trade Commission, a federal agency in the United States, revealed that annual worldwide launches reached a high of 186 in the year 2022, and this figure subsequently rose to 197 launches across the entirety of 2023. Consequently, the expanding scope of space exploration serves as a primary catalyst for the market’s growth in solid rocket boosters.

Which Segment Is Projected To Grow The Fastest In The Solid Rocket Booster Market?

The solid rocket booster market covered in this report is segmented –

1) By Type: Reusable, Expendable

2) By Propellant Type: Composite Propellant, Double-Base Propellant, Other Propellants

3) By Application: Space Launch Vehicles, Military Applications, Research And Development, Commercial Launches

4) By End-User: Government, Private Sector, Defense Contractors, Space Agencies

Subsegments:

1) By Reusable: Space Shuttle Boosters, Space Launch System Boosters, Commercial Reusable Boosters, Military Reusable Boosters

2) By Expendable: Satellite Launch Boosters, Ballistic Missile Boosters, Interplanetary Mission Boosters, Tactical Missile Boosters

Which Global Trends Are Reshaping The Solid Rocket Booster Market Landscape?

Key players within the solid rocket boosters sector are prioritizing the creation of sophisticated technologies, particularly human-rated solid propulsion systems, with the objective of boosting the dependability and security associated with manned space endeavors. These advanced propulsion units engineered for human spaceflight incorporate comprehensive safety mechanisms, superior insulation materials, and potent, multi-redundant electromechanical actuators intended to guarantee operational safety even when facing severe environmental stresses. Illustratively, ISRO, the space agency representing the Indian government, achieved a significant milestone in May 2022 through the successful testing of its HS200 rocket booster; this human-rated solid rocket booster boasts a substantial propellant containment capacity of 203 tons and features one of the globe’s most formidable electromechanical control systems, thereby promising augmented structural soundness and assured ignition performance. Measuring 20 meters in length and 3.2 meters across, this booster currently ranks as the planet’s second-largest in active service, representing a substantial leap forward for enhancing the capabilities of launch vehicles designed for crewed missions into space.

Which Firms Hold The Largest Market Share In The Solid Rocket Booster Market?

Major Companies operating in the solid rocket booster market are The Boeing Company, Lockheed Martin Corporation, RTX Corporation, China Aerospace Science and Technology Corporation, Northrop Grumman Corporation, Mitsubishi Heavy Industries Ltd., Safran S.A., Thales S.A., Space Exploration Technologies Corp., Elbit Systems Ltd., Blue Origin LLC, Rafael Advanced Defense Systems Ltd., ArianeGroup SAS, Korea Aerospace Industries Ltd., Defence Research and Development Organisation, Sierra Nevada Corporation, Nammo AS, General Dynamics Ordnance and Tactical Systems Inc., United Launch Alliance LLC, Avio S.p.A., ISRO Propulsion Complex, Tata Advanced Systems Limited, Antrix Corporation Limited.

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Which Regions Present The Highest Growth Opportunities For The Solid Rocket Booster Market?

North America was the largest region in the solid rocket booster market in 2024. The regions covered in the solid rocket booster market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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