Rocket Engine Market size was valued at USD 5.5 Billion in 2024 and is forecasted to grow at a CAGR of 7.4% from 2026 to 2033, reaching USD 10.2 Billion by 2033.
The global rocket engine market was valued at approximately USD 3.2 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 5.6% from 2023 to 2030. North America held the largest market share in 2022, accounting for nearly 40% of the global revenue, driven by the strong presence of government and private space agencies investing in space exploration and defense applications. Europe also contributed significantly to the market, with a share of around 25%, due to the increasing demand for satellite launches and the growth of commercial space operations. The Asia Pacific region is expected to experience the highest growth rate during the forecast period, with a CAGR of 7.2%, supported by advancements in space programs, particularly in countries like China and India. The Latin American and Middle Eastern markets are projected to grow steadily, benefiting from international collaborations and emerging space programs.
As of 2022, the market for rocket engines in North America is estimated to be worth USD 1.28 billion, while the Asia Pacific region is expected to generate revenue of over USD 800 million by 2025. The surge in small satellite launches and increasing private sector investments are likely to contribute to this growth. Additionally, the integration of new technologies, including reusable rocket engines and advancements in propulsion systems, will further drive the market in various regions. The increasing number of satellite constellations, government backed space missions, and the development of space tourism are key factors creating new opportunities for the market across different regions. Emerging markets in the Asia Pacific, including India and Japan, present significant growth opportunities for manufacturers and suppliers within the rocket engine sector.
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CASC
Space X
Roscosmos
Aerojet Rocketdyne
Mitsubishi Heavy Industries
Safran
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Rocket Engine Market
Aerospace & Defense
Space Exploration
Commercial Satellite Launch
Research and Development
Chemical Rockets
Ionic Rockets
Nuclear Thermal Rockets
Electric Propulsion Systems
Liquid Propellant
Solid Propellant
Hybrid Propellant
Lightweight
Medium-weight
Heavyweight
Reusable Rocket Engines
Conventional Rocket Engines
Advanced Rocket Engine Technologies
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Rocket Engine Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Rocket Engine Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Rocket Engine Market, By Type
6. Global Rocket Engine Market, By Application
7. Global Rocket Engine Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Rocket Engine Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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