Solid Booster Market was valued at USD 5.5 Billion in 2022 and is projected to reach USD 9.2 Billion by 2030, growing at a CAGR of 7.0% from 2024 to 2030.
Looking ahead, the Solid Booster Market is expected to experience continued demand growth from 2023 to 2033. Factors such as the ongoing commercialization of space travel, the global race for lunar exploration, and the expansion of satellite constellations for internet connectivity will keep the demand for solid boosters robust. The shift towards reusable space launch systems and advancements in hybrid propulsion technologies will also impact the market landscape, though solid boosters will continue to play a critical role in heavy-lift launches and military applications.
The increasing involvement of private companies, such as SpaceX and Blue Origin, in space travel and exploration is anticipated to drive both innovation and competition in the solid booster market. Additionally, new developments in environmentally friendly solid propellants may redefine the future of solid boosters, addressing concerns over traditional rocket propellants' environmental impact. As governments continue to allocate funds for space programs and defense capabilities, the market is poised for sustained growth over the next decade.
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The Solid Booster Market experienced notable growth from 2018 to 2022, driven by increasing demand across industries such as defense, space exploration, and military applications. Solid boosters, known for their high thrust-to-weight ratio and reliability, are integral components in the propulsion systems of launch vehicles, missiles, and various aerospace applications. These boosters played a crucial role in the success of numerous space missions, contributing to advancements in space exploration and satellite deployment. Over this period, demand surged as governments and private companies ramped up their space exploration activities, including commercial satellite launches and deep-space missions.
Additionally, the rise in military spending globally led to increased investment in solid booster technology, further propelling market growth. In particular, military forces relied heavily on these boosters for defense missile systems, where speed, efficiency, and reliability were paramount. Innovations in material technology, such as the development of lighter and more heat-resistant composites, also contributed to the expansion of the solid booster market. The period from 2018 to 2022 witnessed an uptick in the number of contracts awarded for both military and commercial space programs, creating a positive environment for solid booster manufacturers.
Northrop Grumman
X-Bow Systems
Thiokol(ATK)
USBI(Pratt and Whitney)
Ariane
Black Sky Aerospace
Blue Origin
Safran
Nammo
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 Global Solid Booster Market
Mechanical Engineering
Aerospace
Others
Based on Types the Market is categorized into Below types that held the largest Solid Booster market share In 2023.
Bundle
Freestanding
Global (United States, Global 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 Solid Booster 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 Solid Booster Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Solid Booster Market, By Type
6. Global Solid Booster Market, By Application
7. Global Solid Booster Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Solid Booster Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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