Global Solid Rocket Propellant Market Report 2025–2029: Growth Forecast and Trends

November 6, 2025 by The Business Research Company

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What Valuation Will The Solid Rocket Propellant Market Reach By 2029 Compared To 2024?

Demand for solid rocket propellant has seen substantial recent expansion, projected to escalate from a valuation of $2.98 billion in 2024 up to $3.16 billion by 2025, reflecting a compound annual growth rate of 6.2% over this timeframe. This historical upward trajectory is fueled by several key factors, including the increasing incorporation of solid propulsion technologies within tactical weaponry, escalated investment in the investigation and development of next-generation propellants, a growing requirement for dependable launch mechanisms, heightened defense spending prompted by global geopolitical strains, and the ongoing upgrade cycle for missile and defense infrastructure.

Anticipation surrounds the coming years for the robust solid rocket propellant sector, with projections indicating a substantial expansion leading to a market valuation of $3.99 billion by 2029, achieving a consistent annual growth rate (CAGR) of 6.0%. This upward trajectory in the projected timeframe is fueled by several key factors: heightened utilization of nano-composite propellants, augmented financial commitments in environmentally conscious propellant development, the escalating requirement for economical propulsion methods, a heightened concentration on advancing hypersonic weaponry, and a greater call for launch systems characterized by rapid response capabilities. Key developments shaping this forecast period encompass novel advancements in propellants that are both environmentally sound and ecologically benign, the incorporation of intelligent propulsion architectures, developments in formulations designed for higher energy density, continuous improvements concerning the safety and operational stability of solid propellants, and the adoption of additive manufacturing processes within the propellant creation pipeline.

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Which Strategic Drivers Are Contributing To The Solid Rocket Propellant Market Development?

Propelled by the escalating requirement for satellite deployment, the market for solid rocket propellant is anticipated to experience significant expansion in the subsequent period. Sending man-made satellites into the cosmos via rockets or launch vehicles defines satellite launches, the rising need for which stems from a growing global interconnectedness, as numerous territories pursue dependable internet access via satellite broadband offerings. Solid rocket propellant plays a crucial role in these space missions by delivering dependable, high-thrust power necessary for elevating payloads into orbital positions, further streamlining launch architecture through the removal of intricate fueling apparatus, thereby facilitating quicker reaction capabilities and economical mission completions. Illustratively, data from the US agency Government Accountability Office in September 2022 indicated approximately 5,500 operational satellites, with forecasts estimating an influx of another 58,000 slated for launch by the year 2030; consequently, this surging pursuit of satellite launches is directly fueling the expansion within the solid rocket propellant sector.

What Segment Categories Dominate The Solid Rocket Propellant Market Landscape?

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

1) By Type: Composite Propellants, Homogeneous Propellants, Heterogeneous Propellants, Liquid Propellants

2) By Propellant Composition: Ammonium Perchlorate, Potassium Nitrate, Hydroxy-Terminated Polybutadiene (HTPB), Aluminum Powder

3) By End-Use Industry: Military, Aerospace, Commercial

Subsegments:

1) By Composite Propellants: Hydroxyl-Terminated Polybutadiene (HTPB) Based, Ammonium Perchlorate (AP) Based, Aluminum Fuel Based

2) By Homogeneous Propellants, Double-Base Propellants, Triple-Base Propellants

3) By Heterogeneous Propellants: Fuel-Rich Propellants, Oxidizer-Rich Propellants

4) By Liquid Propellants: Cryogenic Propellants, Hypergolic Propellants, Storable Liquid Propellants

What Industry Trends Are Steering The Growth Of The Solid Rocket Propellant Market?

The key industry participants within the solid rocket propellant sector are concentrating their efforts on creating cutting-edge offerings, particularly medium-lift rockets, aiming to boost the allowable payload weight and expand the flexibility of space missions. Medium-lift launch vehicles are defined as those capable of inserting payloads generally ranging from 2,000 to 20,000 kilograms into lower Earth orbits, thus fulfilling the needs between smaller and heavy-capacity launchers for assorted satellite and mission profiles. As a concrete example, in January 2024, Orienspace Technology Co. Ltd., a space enterprise situated in China, successfully conducted the maiden flight of the Gravity-1 rocket, a sophisticated rocket fueled by solid propellant. This specific medium-lift vehicle established a fresh benchmark in the commercial space industry by demonstrating the capability to place around 6,500 kilograms of payload into low Earth orbit. The propulsion system of the Gravity-1 rocket incorporates a three-stage central unit complemented by four strap-on solid boosters, collectively generating roughly 600 tons of initial thrust upon launch, enabling the transport of up to 6.5 metric tons to LEO.

Who Are The Most Influential Companies In The Solid Rocket Propellant Market?

Major Companies operating in the solid rocket propellant market are Northrop Grumman Corporation, BAE Systems plc, L3Harris Technologies Inc., IHI Corporation, Rheinmetall AG, Elbit Systems Ltd., Hanwha Aerospace Co. Ltd., ArianeGroup SAS, Roketsan A.S., Nammo AS, General Dynamics Ordnance And Tactical Systems, Eurenco S.A., TNO Defence Safety and Security, Roxel Group, Avibras Industria Aeroespacial S/A, Avio S.p.A., Black Sky Industries, Ursa Major Technologies Inc., Indian Space Research Organisation, Rafael Advanced Defense Systems Ltd.

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What Are The Regional Dynamics Shaping The Solid Rocket Propellant Market?

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

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