The demand for Advanced Rocket & Missile Propulsion System market is surging at a robust rate on account of rising adoption of latest technology in air-to-air missile and the ballistic missile defence system, introduction of new missile project by the governments in order to protect against nuclear attack and launch of small satellite launch vehicle by the countries. Moreover, increasing investment toward the development of cost-efficient propulsion technologies, rising spending on research and development and surging demand for rocket & missile in the defense are some of the factors projected to fuel the growth of the market in the forecast timeline.
According to MarkNtel Advisors’ research report “Global Advanced Rocket & Missile Propulsion System Market Analysis, 2021”, the Global Advanced Rocket & Missile Propulsion System market is anticipated to grow at a CAGR of 9.0% during 2021-26. Based on Application, Space Launch Vehicle acquired the considerable market share in 2020 on account of significant rise in the launch of space launch vehicle by the countries such as India, China, US.
“Global Advanced Rocket & Missile Propulsion System Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Advanced Rocket & Missile Propulsion System providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Asia-Pacific Register Fastest Growth
Based on Region, Asia-Pacific is anticipated to grow at a highest CAGR in the Global Advanced Rocket & Missile Propulsion System market in 2020 on account of escalation inclination of the countries such as China and Indian towards the development of hypersonic cruise missile. China and India grabbed the majority market share in the Asia-Pacific region. The growth is attributed to surging private sector funding in ballistic missile, burgeoning demand for precision-guided missiles and introduction of military modernization program by the government as stated in MarkNtel Advisors’ research report “Global Advanced Rocket & Missile Propulsion System Market Analysis, 2021”.
According to MarkNtel Advisors’, the key players with a considerable market share in the Global Advanced Rocket & Missile Propulsion System market are Aerojet Rocketdyne, Ariane Group, Blue Origin, NPO Energomash, Safran S.A, Avio S.p.A, Northrop Grumman Corporation, Space Exploration Technologies Corporation (SpaceX), Mitsubishi Heavy Industries, Airbus S.A.S., IHI Corporation, Lockheed Martin Corporation, Moog Inc., OHB SE, Thales Group, etc.
Key questions answered in the study: