Global Rocket Liquid Propulsion Market Synopsis

The global Rocket Liquid Propulsion market was worth USD 5.11 billion in 2022. As such, the forecast is that the market is expected to reach USD 9.96 Billion by 2030 with a CAGR of 8.70 % over the period from 2023 to 2030.

Rocket liquid propulsion refers to a propulsion system used in rockets where liquid propellants are used to generate thrust. In this type of propulsion system, two separate liquids, typically a fuel and an oxidizer, are stored in tanks aboard the rocket. These liquids are pumped into a combustion chamber, where they are mixed and ignited.

• The pressure, pump, and gas generator cycles are among the different types of liquid rocket propulsion systems. Pressure injection systems use tank pressure to force propellants into the combustion chamber. In pump-driven systems, turbopumps are used to pressurize and transport propellants. Gas generator cycles are run with a small amount of propellant to drive turbines that power the pumps. Additionally, sequential combustion cycles can enhance efficiency by burning propellants in separate stages.
• The market leaders have been actively developing and utilizing liquid fuel technology for various space missions, including satellite launches, cargo maintenance on the International Space Station (ISS), and piloted flights to the Moon and Mars. Also, advancements in propulsion technology, such as the creation of reusable rocket stages and the adoption of methane as a propellant, have spurred market growth by decreasing launch costs and increasing flight endurance. The market is expected to continue to rise in the coming years due to increasing investments in space exploration, growing demand for satellite-based services and the emergence of new players in the commercial space industry.

Global Rocket Liquid Propulsion Market Trend Analysis

Increasing Demand for Satellite Launch Services

• Growing demand for satellite launch services fueled the growth of the liquid rocket propulsion market during the forecast period.The space industry's fast growth, driven by the need for satellite-based communications, navigation, earth observation, and research missions, has led to a surge in demand for efficient rocket propulsion systems.
• Fluid propulsion systems offer several advantages, such as higher specific impulse, greater flexibility in thrust control, and the ability to carry a wide variety of payloads to different orbits. As satellite technology advances and the miniaturization of satellites across constellations and mega-constellations, the demand for cost-effective, reliable, and repeatable satellite launches has increased.
• The government initiatives, private sector investments, and commercial interests in space exploration and the use of satellites have increased the demand for liquid rocket propulsion systems. Companies in the space launch industry are constantly innovating to develop more efficient propulsion technologies to meet growing demand while lowering costs and improving reusability.

The expanding commercial space industry Creates an Opportunity for the Global Rocket Liquid Propulsion Market

• The expanding commercial space industry provides significant opportunities for the liquid rocket propulsion market. Private space firms such as SpaceX, Blue Origin, and Rocket Lab are increasingly relying on high-efficiency propulsion systems to support various missions like satellite installations/launches, space tourism operations, cargo transportation, etc. across the globe. Station (ISS) and research beyond Earth orbit.
• This demand is the increasing number of satellites launches for communication, Earth observation, and scientific purposes. The need for advanced fluid propulsion systems to transport payloads into low Earth orbit and beyond will be amplified by the emergence of new markets like space exploration and lunar exploration.
• As competition in the commercial space sector intensifies, companies are looking for innovative propulsion solutions to achieve a competitive advantage in terms of cost efficiency, reliability, and performance. Manufacturers and suppliers of rocket propulsion systems can now develop innovative technology to capture a larger portion of the growing market.

Global Rocket Liquid Propulsion Market Segment Analysis:

Global Rocket Liquid Propulsion Market is Segmented into the Type, Orbit, Component, Vehicle Type, and End User.

By Type, Rocket Engine Segment Is Expected to Dominate the Market During the Forecast Period.

• Liquid propellants offer higher specific impulse compared to solid propellants, resulting in more efficient thrust generation. This efficiency is crucial for achieving the desired velocity and payload capacity in space missions.
• Additionally, liquid propulsion systems provide greater flexibility and controllability during flight, enabling precise trajectory adjustments and maneuverability. This feature is indispensable for complex missions like orbital insertions, rendezvous, and docking procedures.
• Liquid rocket engine expels hot gas at high velocity, creating an equal and opposite force (thrust) propelling the rocket forward. Measures the engine's ability to convert propellant mass into thrust. Higher specific impulse means more thrust per unit of propellant, leading to longer mission durations or higher payloads. Higher pressure allows for more complete combustion, maximizing energy release and potentially raising specific impulse. Balancing efficiency gains with challenges like material strength and complexity necessitates trade-offs in chamber pressure selection. Advanced technologies for higher performance often drive up costs

By Component, Propellant Segment Held the Largest Share Of 54.8% In 2022.

• Within the propellant segment, various types exist, including liquid oxygen, liquid hydrogen, and hypergolic fuels, each offering distinct advantages depending on the mission requirements. Liquid propellants are favoured for their high energy density and efficiency, making them indispensable for a wide range of space missions, from satellite launches to interplanetary exploration.
• Ongoing advancements in propellant technology, such as the development of more efficient formulations and novel propulsion concepts, continue to drive growth in this segment. Additionally, the increasing demand for reliable and cost-effective propulsion systems for both government and commercial space endeavors further solidifies the dominance of the propellant segment in the rocket liquid propulsion market.

Global Rocket Liquid Propulsion Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast Period

• The Asia Pacific region is poised to dominate the rocket liquid propulsion market due to several key factors. Countries like China, India, and Japan have been investing heavily in their space programs, leading to significant advancements in rocket technology. These nations have ambitious plans for space exploration, satellite launches, and even manned missions, driving the demand for liquid propulsion systems.
• The Asia Pacific region boasts a robust manufacturing sector, with many companies specializing in aerospace engineering and rocket propulsion technology. This enables the development and production of high-quality liquid propulsion systems within the region, reducing reliance on imports and driving down costs. The strategic location of the Asia Pacific region offers advantages for satellite launches and space missions, with access to a wide range of orbital inclinations and launch trajectories.

Global Rocket Liquid Propulsion Market Top Key Players:

• Aerojet Rocketdyne (United States)
• SpaceX (United States)
• Blue Origin (United States)
• Northrop Grumman Innovation Systems (United States)
• Mitsubishi Heavy Industries (Japan)
• IHI Corporation (Japan)
• Safran S.A. (France)
• Ariane Group (France)
• Rocket Lab (New Zealand)
• Yuzhnoye Design Office (Ukraine)
• KBKhA (Russia)
• NPO Energomash (Russia)
• Europropulsion (Italy/France)
• Avio S.p.A (Italy)
• ISRO (India)
• China Aerospace Science and Technology Corporation (China)
• China Academy of Launch Vehicle Technology (China)
• CASIC (China)
• Iran Aviation Industries Organization (Iran)
• RKK Energia (Russia)
• SpaceX (United States)
• Rocket Crafters Inc. (United States)
• Firefly Aerospace (United States)
• Relativity Space (United States), and Other Major Players

 Key Industry Developments in the Global Rocket Liquid Propulsion Market:

• In November 2023, Exos Aerospace, a developer of reusable rockets, acquired Impulse Space, a company specializing in electric propulsion systems. This acquisition aimed to combine Exos' launch vehicle expertise with Impulse Space's advanced propulsion technology, accelerating the development of reusable and sustainable launch systems.
• In March 2023, Honeywell completed the acquisition of MT Aerospace AG, a German-based company specializing in advanced propulsion systems for satellites and spacecraft. This acquisition aimed to enhance Honeywell's space propulsion capabilities and diversify its aerospace portfolio.
• In January 2023, Aerojet Rocketdyne finalized the acquisition of MGSC Launch Services, a provider of ground and flight hardware for launch vehicles. This move strengthened Aerojet Rocketdyne's position in the small launch vehicle market and expanded its access to launch infrastructure.

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. FORM EVALUATION
   10. ANALYSIS OF THE IMPACT OF COVID-19
       1. Impact On The Overall Market
       2. Impact On The Supply Chain
       3. Impact On The Key Manufacturers
       4. Impact On The Pricing
       5. Post COVID Situation
   11. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   12. ECOSYSTEM
6. ROCKET LIQUID PROPULSION MARKET BY TYPE (2017-2030)
   1. ROCKET LIQUID PROPULSION MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. ROCKET MOTOR
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2030F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. ROCKET ENGINE
7. ROCKET LIQUID PROPULSION MARKET BY ORBIT (2017-2030)
   1. ROCKET LIQUID PROPULSION MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3.  LOW EARTH ORBIT (LEO)
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2030F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. MEDIUM EARTH ORBIT (MEO)
   5. GEOSTATIONARY EARTH ORBIT (GEO)
   6. BEYOND GEOSYNCHRONOUS ORBIT (BGEO)
8. ROCKET LIQUID PROPULSION MARKET BY COMPONENT (2017-2030)
   1. ROCKET LIQUID PROPULSION MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3.  MOTOR CASING
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2030F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4.  NOZZLE
   5. IGNITER HARDWARE
   6. TURBO PUMP
   7.  PROPELLANT
9. ROCKET LIQUID PROPULSION MARKET BY VEHICLE TYPE (2017-2030)
   1. ROCKET LIQUID PROPULSION MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3.  MANNED
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2030F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. UNMANNED
10. ROCKET LIQUID PROPULSION MARKET BY VEHICLE END-USER (2017-2030)
    1. ROCKET LIQUID PROPULSION MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3.  MILITARY GOVERNMENT
       1. Introduction And Market Overview
       2. Historic And Forecasted Market Size in Value (2017 – 2030F)
       3. Historic And Forecasted Market Size in Volume (2017 – 2030F)
       4. Key Market Trends, Growth Factors And Opportunities
       5. Geographic Segmentation Analysis
    4. COMMERCIAL
    5. RESEARCH AND DEVELOPMENT
11. COMPANY PROFILES AND COMPETITIVE ANALYSIS
    1. COMPETITIVE LANDSCAPE
       1. Competitive Positioning
       2. ROCKET LIQUID PROPULSION Market Share By Manufacturer (2022)
       3. Industry BCG Matrix
       4. Heat Map Analysis
       5. Mergers & Acquisitions
    2. AEROJET ROCKETDYNE (UNITED STATES)
       1. Company Overview
       2. Key Executives
       3. Company Snapshot
       4. Role of the Company in the Market
       5. Sustainability and Social Responsibility
       6. Operating Business Segments
       7. Product Portfolio
       8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
       9. Key Strategic Moves And Recent Developments
       10. SWOT Analysis
    3. SPACEX (UNITED STATES)
    4. BLUE ORIGIN (UNITED STATES)
    5. NORTHROP GRUMMAN INNOVATION SYSTEMS (UNITED STATES)
    6. MITSUBISHI HEAVY INDUSTRIES (JAPAN)
    7. IHI CORPORATION (JAPAN)
    8. SAFRAN S.A. (FRANCE)
    9. ARIANE GROUP (FRANCE)
    10. ROCKET LAB (NEW ZEALAND)
    11. YUZHNOYE DESIGN OFFICE (UKRAINE)
    12. KBKHA (RUSSIA)
    13. NPO ENERGOMASH (RUSSIA)
    14. EUROPROPULSION (ITALY/FRANCE)
    15. AVIO S.P.A (ITALY)
    16. ISRO (INDIA)
    17. CHINA AEROSPACE SCIENCE AND TECHNOLOGY CORPORATION (CHINA)
    18. CHINA ACADEMY OF LAUNCH VEHICLE TECHNOLOGY (CHINA)
    19. CASIC (CHINA)
    20. IRAN AVIATION INDUSTRIES ORGANIZATION (IRAN)
    21. RKK ENERGIA (RUSSIA)
    22. SPACEX (UNITED STATES)
    23. ROCKET CRAFTERS INC. (UNITED STATES)
    24. FIREFLY AEROSPACE (UNITED STATES)
    25. RELATIVITY SPACE (UNITED STATES), AND OTHER MAJOR PLAYERS
12. GLOBAL ROCKET LIQUID PROPULSION MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Impact Of Covid-19
       3. Key Manufacturers
       4. Historic And Forecasted Market Size By Type
       5. Historic And Forecasted Market Size By Orbit
       6. Historic And Forecasted Market Size By Component
       7. Historic And Forecasted Market Size By Vehicle Type
       8. Historic And Forecasted Market Size By End-User
       9. Historic And Forecasted Market Size By Country
          1. USA
          2. Canada
          3. Mexico
    3. EASTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Impact Of Covid-19
       3. Key Manufacturers
       4. Historic And Forecasted Market Size By Segments
       5. Historic And Forecasted Market Size By Country
          1. Russia
          2. Bulgaria
          3. The Czech Republic
          4. Hungary
          5. Poland
          6. Romania
          7. Rest Of Eastern Europe
    4. WESTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Impact Of Covid-19
       3. Key Manufacturers
       4. Historic And Forecasted Market Size By Segments
       5. Historic And Forecasted Market Size By Country
          1. Germany
          2. United Kingdom
          3. France
          4. The Netherlands
          5. Italy
          6. Spain
          7. Rest Of Western Europe
    5. ASIA PACIFIC
       1. Key Market Trends, Growth Factors And Opportunities
       2. Impact Of Covid-19
       3. Key Manufacturers
       4. Historic And Forecasted Market Size By Segments
       5. Historic And Forecasted Market Size By Country
          1. China
          2. India
          3. Japan
          4. South Korea
          5. Malaysia
          6. Thailand
          7. Vietnam
          8. The Philippines
          9. Australia
          10. New-Zealand
          11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Impact Of Covid-19
       3. Key Manufacturers
       4. Historic And Forecasted Market Size By Segments
       5. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    7. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Impact Of Covid-19
       3. Key Manufacturers
       4. Historic And Forecasted Market Size By Segments
       5. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
13. INVESTMENT ANALYSIS
14. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies