Space Propulsion Systems Market Scope
A full-scale rocket has four primary components, structural system, payload system, guidance system, and propulsion system. Many of the components that make up a rocket motor, such as the tanks, pumps, propellants, powerhead, and rocket nozzle, are used in the propulsion of a rocket. The propulsion system's aim is to generate thrust. Any system used to accelerate rockets and artificial satellites is referred to as space propulsion. Space propulsion is distinct from a space launch or atmospheric entry because it deals solely with propulsion devices used in the vacuum of space. A working fluid is accelerated by the system of every propulsion system, and the response to this acceleration creates a force on the system. With the increasing investment in space exploration; the demand for Space Propulsion Systems is increasing.
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing towards the production technologies, efficiency enhancement and product life. There is various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies.
Safran S.A. (France), Aerojet Rocketdyne Holdings, Inc. (United States), SpaceX (United States), IHI Corporation (Japan), Northrop Grumman Corporation (United States), Honeywell International Inc. (United States), Sierra Nevada Corporation (United States), Blue Origin (United States), Accion Systems Inc. (United States) and Lockheed Martin (United States) are some of the key players that are part of study coverage.
Segmentation Overview
The study have segmented the market of Global Space Propulsion Systems market by Type (Solid-Fuel Rockets, Hybrid Rockets, Monopropellant Rocket, Liquid-Fuel Rocket and Others), by Application (Commercial, Industrial, Military and Government Research Organizations) and Region with country level break-up.
On the basis of geography, the market of Space Propulsion Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Rising Number of Private Players in The Manufacture of Space Propulsion Systems
Market Growth Drivers:
Increasing Space Exploration Programmes and Growing Demand for Space Propulsion Systems to Carry Satellites and Telescopes
Challenges:
The demand of Space Propulsion Systems Is Dependant of Space Missions Which Are Not Very Regular and Lack of Enough Skilled Labour Force for Manufacture of Space Propulsion Systems
Restraints:
Extremely High Cost Associated with Space Propulsion Systems
Opportunities:
Increasing Collaborations Between Nations for Space Exploration Will Increase the Demand of Space Propulsion Systems and Emerging Powers in Space Programmes Like India And China Will Boost the Demand for Space Propulsion Systems
Market Leaders and their Expansionary Development Strategies
USA to develop and use space nuclear power and propulsion (SNPP) systems, It will consists of Authorisation for launches of spacecraft containing space nuclear systems will follow a tiered process based on the characteristics of the system, level of a potential hazard, and national security considerations, the policy adds.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Space Propulsion Systems Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations, End-Use Industries and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.