According to the research report titled ‘Global Advanced Rocket & Missile Propulsion System Market Analysis, 2021’, available with Market Study Report, global advanced rocket & missile propulsion systems market is anticipated to record a year-over-year growth rate of 9% during the forecast period 2021-2026.
 

Expert analysts cite that technological advancements in missile defense, government initiatives aimed at developing space-based missile defense systems, and increasing number of satellite launches are promulgating global advanced rocket & missile propulsion system industry growth. Further, growing number of launch service providers, rising inclination towards reusable launch vehicles, and hefty R&D expenditure by large space organizations are positively enhancing the business dynamics.
 

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Based on component, global advanced rocket & missile propulsion system market is split into nozzle, propellant, turbopump, motor casing, valve, igniter, combustion chamber, and others. Among these, propellant segment captured a significant portion of the overall industry share and will likely record strong gains in the upcoming years. This can be ascribed to escalating demand for high thrust generating and efficient propellant in satellite launch vehicles and continuous advancements in the technology.
 

Proceeding further, global advanced rocket & missile propulsion system industry is studied from the perspective of propulsion type (solid propulsion rocket motor, liquid propulsion engine, hybrid propulsion engine) and application (missiles, rockets, space launch vehicle).
 

Considering the geographical landscape, key contributors to the overall industry value are North America (U.S., Canada), Europe (Russia), Middle East & Africa (Israel, Iran), and Asia Pacific (India, China, Japan).
 

Prominent players in global advanced rocket & missile propulsion system market space are Thales Group, OHB SE, Moog Inc., Lockheed Martin Corp., IHI Corp., Airbus SE, Mitsubishi Heavy Industries Ltd., Space Exploration Technologies Corp., Northrop Grumman Corp., Avio S.p.A., Safran S.A., NPO Energomash, Blue Origin Federation LLC, ArianeGroup, and Aerojet Rocketdyne.