Increasing Rocket Launches Boosting the Growth of the Advanced Rocket & Missile Propulsion System Market

10 Mar 2021

The constant technological advancements are causing a major evolution in the rocket and missile propulsion systems. The three most notable developments that have occurred include cost-effective reusable rockets, increasing private investments by emerging players in the industry, and better communication and connectivity.

In addition, several space agencies are also focused on developing more efficient and less toxic propulsion systems. For instance, the Indian Space Research Organization (ISRO) is developing a methane-based rocket engine, wherein methane in combination with carbon dioxide and water will produce space fuel in the future.

In addition, there have been significant developments in the field of ballistic missiles and air defense system technologies, resulting in growing interest and escalating demand for advanced rocket and missile propulsion systems for different military platforms, such as airborne, ground, and naval.

Recently,  NASA has shortlisted Northrop Grumman’s solid propulsion system to power Mars ascent vehicle. The vehicle is expected to be launched by 2026 and has to collect soil and rock samples that were prepared by NASA’s perseverance rover, which landed on Mars in February.  

According to the Advanced Rocket and Missile Propulsion Systems Market, a recent market intelligence report by BIS Research, the market was estimated at $7211.6 million in 2019 and is expected to grow at a CAGR of 9.65% during the forecast period from 2020-2025. The growth in the advanced rocket and missile propulsion systems market is majorly attributed to significant technical advancements in this field and the growing number of rocket launches.

The study highlights the trends that are expected to influence the market in the future, such as the emergence of hypersonic air-breathing engines, insensitive munition capabilities, and growing significance of reusable rockets. The emergence of hypersonic air-breathing propulsion systems presents the prospect to empower new classes of flight vehicles that permit quick reaction at long range, more flexibility in flight, and better survivability.

Insensitive munitions are chemically stable enough to withstand fire, mechanical shocks, and shrapnel and still explode to destroy their targets as intended. Missile and munition manufacturers are working on developing insensitive munition capabilities by incorporating reduced sensitivity propellants, low-cost bonded end-closure composite cases, and passive thermal mitigation systems.

The propulsion systems are primarily used in space launch vehicles, missiles, and rockets. Propulsion systems provide the required technological capability to generate thrust and push it forward. In 2019, several R&D projects were undertaken related to advanced propulsion systems to cater to the requirement of high efficiency and non-toxicity.

A propulsion system is the most crucial part used in space launch vehicles, ballistic and air defense missiles, and rockets. The demand for advanced propulsion systems for space launch vehicles is significantly rising due to the rise in the number of small satellite constellations being launched for various applications, such as real-time Earth observation, navigation, tracking, monitoring, and global internet coverage.

 
 

Twitter Feeds

 

OUR CLIENTS