United States Solid Rocket Propellant Market was valued at USD 1.2 Billion in 2022 and is projected to reach USD 1.7 Billion by 2030, growing at a CAGR of 4.9% from 2024 to 2030.
The US solid rocket propellant market has seen significant growth due to the increasing demand from industries such as defense, aerospace, and space exploration. Solid rocket propellants are widely used in military applications for launching missiles and in the aerospace sector for rockets and spacecraft. These propellants are favored for their high energy efficiency, ease of handling, and capability to provide sustained thrust over extended periods. The demand for solid rocket propellants has been primarily driven by advancements in defense technology, as well as the push for new space missions from both governmental and private players.
The market is largely segmented based on the type of propellant used, such as composite propellants, double-base propellants, and single-base propellants. Composite propellants, which combine a fuel and an oxidizer in a single mixture, are expected to dominate the market due to their superior performance and adaptability for a variety of applications. Double-base propellants, which consist of a combination of nitroglycerin and nitrocellulose, also hold a significant share due to their use in a variety of military applications, including rocket propulsion systems. Single-base propellants, primarily composed of nitrocellulose, are used in more specialized applications, such as small rockets and fireworks.
The requirement for solid rocket propellants is heavily influenced by the growth of space exploration initiatives. As private companies like SpaceX and Blue Origin ramp up their space exploration capabilities, the need for high-performance solid rocket propellants becomes even more pronounced. Furthermore, governments worldwide are increasing their defense budgets to modernize their missile systems, further driving the demand for these propellants.
In terms of market growth, projections indicate that the US solid rocket propellant market will expand at a compound annual growth rate (CAGR) of 5.2% from 2025 to 2030. This growth can be attributed to technological innovations in propellant formulations and the increasing reliance on solid rocket propulsion in various industrial applications. Furthermore, ongoing research into new materials and more efficient manufacturing processes will continue to shape the future of this market.
With a heightened focus on innovation and sustainability, companies within the solid rocket propellant market are expected to adopt more environmentally friendly manufacturing methods while maintaining the high-performance standards required for critical applications. As industries across the globe continue to invest in cutting-edge technologies and new missions, the solid rocket propellant market in the US is set to remain a crucial component of the growing aerospace and defense sectors.
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Explosia
Pakistan Ordnance Factories
Australian Munitions
Eurenco
General Dynamics
MAXAM Corp
Rheinmetall Defence
BAE Systems
Forcit
Solar Group
Serbian Defence Industrial Facilities
NITRO-CHEM
Poongsan Defense
Liming Research Institute of Chemical Industry
China North Industries Corporation (NORINCO)
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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. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. 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 US Solid Rocket Propellant Market
Composite Propellants
Homogeneous Propellants
Heterogeneous Propellants
Liquid Propellants
Single-Stage Propellant
Multi-Stage Propellant
Aerospace & Defense
Missiles
Space Launch Vehicles
Solid Rocket Boosters
Others
Ammonium Perchlorate
Potassium Nitrate
Hydroxy-Terminated Polybutadiene (HTPB)
Aluminum Powder
Military
Aerospace
Commercial
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 US Solid Rocket Propellant 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. US Solid Rocket Propellant Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Solid Rocket Propellant Market, By Type
6. US Solid Rocket Propellant Market, By Application
7. US Solid Rocket Propellant Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Solid Rocket Propellant Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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