Commercial aviation has weathered many downturns in the past, yet the recovery has followed quickly and the industry has been reliably returned to its long-term growth rate of approximately 5 percent per year. Despite uncertainties, 2011 passenger tr ....see more
The fiber optic cables market for military & aerospace size is projected to reach USD 8.2 billion by 2027, at a CAGR of 10.9% during the forecast period. The fiber optic cables market for military & aerospace is largely fragmented. Established players in the market include Amphenol fsi (UK), Carlisle Interconnect Technologies (US), Radiall (Italy), TE Connectivity (Switzerland), Corning Optical Communications LLC (US), Prysmian Group (Italy), Northrop Grumman Corporation (US).
The aircraft propeller system market is expected to grow from USD 308 million in 2021 to USD 414 million by 2026, at a CAGR of 6.1% during the forecast period. Major players operating in the aircraft propeller system Hartzell Propeller, Inc. (Hartzell Propeller) (US), MT-Propeller Entwicklung GmbH (MT-Propeller) (Germany), and Dowty Propeller (UK) are the largest providers of aircraft propeller systems in the North American and European regions.
The global missile defense system market size is projected to reach USD 29.7 billion by 2026, at a CAGR of 4.4% during the forecast period. The Missile defense system market is dominated by a few globally established players such as Northrop Grumman Corporation (US), Lockheed Martin (US), Boeing (US), Raytheon Technologies (US), and General Dynamics Corporation (US).
The global missile seekers market size is projected to reach USD 6.8 billion by 2026, at a CAGR of 5.2% during the forecast period. The missile seekers market is largely fragmented. Established players in the market include BAE Systems (UK), Boeing (US), Leonardo S.p.A. (Italy), Safran Group (France), Raytheon Technologies (US), Thales (France), Northrop Grumman Corporation (US).
According to MarketsandMarkets Mine detection Systems market is projected to reach USD 6.9 billion by 2026, at a CAGR of 6.2% in terms of value during the forecasted period. This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Israel Aerospace Industries Ltd. (Israel), Raytheon Technologies Corporation (US), Thales Group (France), L3Harris Technologies, Inc. (US), BAE Systems (UK), and Elbit System (Israel).
The Military displays market size is projected to reach USD 1.4 billion by 2026, at a CAGR of 4.9% during the forecasting period. Major players operating in the Military Displays Market include Raytheon Technologies (US), Lockheed Martin Corporation (US), Elbit Systems (Israel), Bae Systems (US). These key players offers Military Display products and strong distribution networks across North America, Europe, Asia Pacific, Middle East and Latin America
The Aircraft Engine Market Size is expected to grow from USD 60.8 billion in 2021 to USD 92.9 billion by 2026, at a CAGR of 8.9% during the forecast period. The aircraft engine market includes major companies such as Safran SA (France), General Electric Company (US), Honeywell International Inc (US), Rolls Royce PLC (UK), and MTU Aero Engine (Germany). These players have spread their business across various countries including North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 has affected aircraft engine production and services globally in 2020.
Airborne Countermeasure Systems market size is projected to reach USD 14.9 billion by 2026, at a CAGR of 5.2% in terms of value during the forecasted period. This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Israel Aerospace Industries Ltd. (Israel), Raytheon Technologies Corporation (US), Thales Group (France), L3Harris Technologies, Inc. (US), BAE Systems (UK), and Saab Ab (Sweden).
According to MarketsandMarkets, the electromagnetic weapons market is projected to reach USD 1,282 million by 2026, at a CAGR of 20.3% during the forecasting period. This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Thales Group (France), BAE Systems (UK), Raytheon Technologies (US), Elbit Systems (Israel) and L3Harris Technologies (US).
The global aerospace DC-DC converter market size is projected to reach USD 1.7 billion by 2030, at a CAGR of 10.3% during the forecasting period. The aerospace DC-DC converter market is dominated by a few globally established players such as TDK Lambda Corporation (Japan), Texas Instruments Incorporated (US), Vicor Corp. (US), MURATA (Japan) and Infineon Tecnologies AG (Germany)
The Unmanned Electronic Warfare Market Size is projected to reach USD 847 million by 2026, at a CAGR of 4.3% in terms of value during the forecasted period. Martin Corporation (US), Northrop Grumman Corporation (US), Thales Group (France), L3Harris Technologies, Inc. (US), BAE Systems (UK), and Saab Ab (Sweden).
The electronic flight bag (EFB) market size is projected to reach USD 3.3 billion by 2026, at a CAGR of 6.2% during the forecasting period. The electronic flight bag market is dominated by a few globally established players such as Boeing (US), Honeywell (US), and Collins Aerospace (US).
The Aerospace Valves Market Size is expected to grow from USD 11.4 billion in 2021 to USD 14.0 billion by 2026, at a CAGR of 4.1% during the forecast period. The aerospace valves market includes major players like Eaton Corporation PLC (Ireland), Safran (France), Woodward, Inc. (US), Triumph Group (US), and Parker Hannifin Corporation (US). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and Latin America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 has affected aerospace valves production and services by 7–10% globally in 2020.
The Drone Taxi Market Size is expected to grow from USD 74 Million in 2025 to USD 860 Million by 2030, at a CAGR of 63.0% during the forecast period. Major companies operating in the Drone Taxi market include Airbus (Netherlands), Boeing (US), Joby Aviation (US), Lilium (Germany), Volocopter (Germany), and Ehang (China). The growth of the Drone Taxi market is majorly attributed to the need for an efficient mode of intracity transportation in urban cities.
The Military Sensors Market Size is expected to grow from USD 9.9 Billion in 2021 to USD 13.2 Billion by 2026, at a CAGR of 5.9% during the forecast period. Major companies profiled in the report include Honeywell International (US), TE Connectivity (Switzerland), Raytheon Technology (US), Lockheed Martin (US), Thales (France), Bae Systems (UK) among others.
The Aircraft Filters Market is expected to grow from USD 823 million in 2021 to USD 1,002 million by 2026, at a CAGR of 4.0% during the forecast period. The aircraft filters market includes major players Parker Hannifin Corporation (US), Donaldson Inc. (US), Safran (France), Porvair PLC (UK), and Freudenberg & Co.KG (Germany). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and Latin America.
The global homeland security and emergency management market size is expected to grow from USD USD 668.7 Billion in 2021 to USD 904.6 Billion by 2026, at a compound annual growth rate (CAGR) of 6.2% during the forecast period. such as Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Thales Group (France), BAE Systems (UK), Elbit Systems (Israel), Leidos (US), and L3Harris Technologies (US).
The hydrogen aircraft market is projected to reach USD 7,427 million by 2030, at a CAGR of 28.9% during the forecasting period. Some of the players operating in the hydrogen aircraft market are Airbus SE (Netherlands), GKN Aerospace (UK), Urban Aeronautics Ltd (Israel), HES Energy Systems (Singapore), and ZeroAvia Inc (US) are industry majors and have largely benefitted from their well-recognized brands, a wide range of products, and strong distribution capabilities in the hydrogen aircraft market.
Air-to-Air Refueling Market is expected to grow from USD 619.26 Million in 2022 to USD 995.23 Million by 2027, at a compound annual growth rate (CAGR) of 10.0% during the forecast period. The Major players operating in the air-to-air refueling market include Cobham Limited (UK), Eaton Corporation (US), Airbus SE (Netherlands), The Boeing Company (US), and GE Aviation (US)
The Global Airborne Optronics Market Size was valued at USD 1.4 Billion in 2020 and is estimated to reach USD 2.5 Billion by 2025, growing at a CAGR of 12.7% during the forecast period. The airborne optronics market includes major players Northrop Grumman Corporation (US), Thales SA (France), Safran (France), FLIR Systems, Inc. (US), and Elbit Systems Ltd. (Israel). The market is driven by various factors, such as growing fleet of commercial and combat aircraft and increased deployment of electro-optics in unmanned vehicles.
The global ATR market size is projected to grow from USD 9.1 billion in 2020 to USD 16.0 billion by 2025, at a CAGR of 11.9% from 2020 to 2025. Raytheon Technologies Corporation (US), Honeywell International Inc. (US), L3Harris Technologies Inc. (US), Lockheed Martin Corporation (US), and Cobham Plc (UK) are some of the leading players operating in the ATR market report.
The Integrated Marine Automation System Market is expected to grow from USD 4.9 billion in 2020 to USD 7.8 billion by 2025, at a CAGR of 10.0% during the forecast period. Some of the players operating in the integrated marine automation system market are ABB (Switzerland), Honeywell International, Inc. (US), Rolls-Royce PLC (UK), Wartsila (Finland), and Kongsberg (Norway) are industry majors and have largely benefitted from their well-recognized brands, a wide range of products, and strong distribution capabilities in the integrated marine automation system market.
The Aircraft Seat Actuation System Market is expected to grow from USD 496 million in 2020 to USD 763 million by 2025, at a CAGR of 9.0% during the forecast period. The aircraft seat actuation system market includes major players Astronics Corporation (US), ITT Inc. (US), Crane Co. (US), Collins Aerospace (US), and Bühler Motor GmbH (Germany). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and Latin America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 could affect aircraft seat actuation system production and services by 7–10% globally in 2020.
The battlefield management systems market is projected to grow from USD 9.5 billion in 2020 to USD 11.8 billion by 2025, at a CAGR of 4.3% from 2020 to 2025. The global battlefield management systems market is dominated by a few globally established players such as Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Thales Group (France), Collins Aerospace (US), Leonardo SPA (Italy), and BAE Systems (UK).
The Aircraft Interface Device Market is expected to grow from USD 167 Million in 2020 to USD 311 Million by 2025, at a CAGR of 13.2% during the forecast period. The aircraft interface device market includes significant players Collins Aerospace (US), Thales SA (France), The Boeing Company (US), Astronics Corporation (US), and Elbit Systems Ltd (Israel). The aircraft interface device market is growing in this region owing to the increased demand for fixed-wing and rotary-wing aircraft, which are being widely used in civil, military, and security applications.
The Automotive DC-DC Converters Market is expected to grow from USD 339 million in 2020 to USD 1,432 million by 2025, at a CAGR of 33.4% during the forecast period. Major players operating in the automotive DC-DC converters market include BorgWarner Inc. (US), Denso Corporation (Japan), Valeo (France), Vicor Corporation (US), TDK-Lambda Corporation (Japan), Delta Electronics (Taiwan), Continental AG (Germany), Toyota Industries Corporation (Japan), Hyundai Mobis (South Korea), and Robert Bosch GmbH (Germany), among others. These key players offer various products and services in order to cater the increasing demand of electrification of vehicles in automotive industry.
The Passenger Boarding Bridges Market is expected to grow from USD 273 Million in 2020 to USD 489 Million by 2025, at a CAGR of 12.3% during the forecast period. Factors such as the high demand for large aircraft, the increasing number of greenfield and brownfield airport projects, and increased spending on airside infrastructure by airport operators are driving factors assisting the growth of the passenger boarding bridges market.
The Surveillance Radars Market is expected to grow from USD 8.0 billion in 2020 to USD 11.5 billion by 2025, at a CAGR of 7.6% during the forecast period. The Surveillance Radar market includes major players Raytheon Technologies Corporation (US), Lockheed Martin Corporation (US), Hensoldt (Germany), Israel Aerospace Industries Ltd. (Israel), and Leonardo S.p.A (Italy) are some of the leading players operating in the Surveillance Radar market report.
The Riflescopes Market is expected to grow from USD 5.7 Billion in 2020 to USD 7.3 Billion by 2025, at a CAGR of 5.0% during the forecast period. Key players profiled in the riflescopes market include SIG Sauer, Inc., (US) Vortex Optics, (US) and Leupold & Stevens, Inc., (US) Burris Company, Inc., (US) Trijicon, Inc., (US) and Nightforce Optics (US) among others. The advancements in technology for precision attack and their increasing demand for hunting and shooting sports are some of the factors expected to drive the growth of the riflescopes industry.
The Marine Interiors Market size is expected to grow USD 5.8 Billion by 2027, at a Compound Annual Growth Rate (CAGR) of 11.6% during the forecasting period. Major companies operating in the marine interiors market are R&M Group (Germany), Almaco (Finland), Trimline (UK), Mivan Marine Ltd And Mjm Marine (UK), Marine Interiors (Italy), Aros Marine (Lithuania), Kaefer (Germany), Norac (Norway), Bolidt (Netherlands), Forbo Flooring Systems (Netherlands), and Tillberg Design Of Sweden (Sweden).
The Tactical Optics Market is expected to grow from USD 9.7 Billion in 2020 to USD 13.0 Billion by 2025, at a CAGR of 6.1% during the forecast period. The tactical optics industry includes major Tier 1 players, such as Kongsberg Gruppen AS (Norway), Raytheon Company (US), Elbit Systems Ltd. (Israel), Saab AB (Sweden), Leonardo S.p.A (Italy), and BAE Systems plc (UK). These companies offer advanced electro-optic cameras and thermal cameras, which make up the majority of the tactical optics market. The tactical optics industry also constitutes Tier 2 and Tier 3 players who offer tactical optics for dismounted soldiers, which cost comparatively less. These players include Sig Sauer, Inc. (US), Vortex Optics (US), Bushnell Corporation (US), and Leupold & Stevens, Inc. (US).
The COVID-19 Impact on Homeland Security Management Market is expected to grow from USD 1,035 billion in 2020 to USD 1,081 billion by 2025, at a CAGR of 0.9% during the forecast period. Some of the major players operating in the homeland security and emergency management market are Lockheed Martin (US), Raytheon Company (US), Northrop Grumman (US), Leidos (US), IBM (US), FLIR Systems (US), Thales Group (France), Elbit Systems (Israel), General Dynamics (US), and Unisys (US).
The COVID-19 Impact on Airport Operations Market is expected to grow from USD 8.5 billion in 2020 to USD 14.5 billion by 2025, at a CAGR of 11.0% during the forecast period. FLIR Systems (US), Honeywell (US), SITA (Switzerland), Collins Aerospace (US), Siemens AG (Germany), Fluke Corporation (US), Thales Group (France) Daifuku Co., Ltd. (Japan), Amadeus IT Group (Spain), among others are some of the leading players operating in the airport operations market. These players have adopted growth strategies such as new product developments, contracts, partnerships, agreements, collaborations, and acquisitions to expand their presence in the market further.
The MRO Software Market is expected to grow from USD 6.9 billion in 2020 to USD 8.0 billion by 2025, at a CAGR of 2.9% during the forecast period. Some of the major players in the MRO software market in aviation are HCL Technologies Limited (India), SAP SE (Germany), International Business Machines Corporation (IBM) (US), Ramco Systems Limited (India), IFS AB (Sweden), Oracle Corporation (US), Boeing (US), Infor (US), Trax (US), Swiss AviationSoftware (Switzerland), IBS Software (India), Rusada (Switzerland), Communications Software Limited (UK), Flatirons Solutions, Inc. (US), Aviation Intertec Services (Canada), BytzSoft Technologies Pvt. Ltd. (India), Tracware Limited (UK), FLY Online Tools (US), Aerosoft Systems Inc. (US), Lufthansa Technik AG (Germany), GE Aviation (US), and Sopra Steria (France).
The Weapon Mounts Market is expected to grow from $ 1.1 Billion in 2019 to $ 1.8 Billion by 2025, at a CAGR of 7.7% during the forecast period. Major Companies in the weapon mounts industry are Kongsberg Gruppen (Norway), Raytheon Company (US), Elbit Systems (Israel), Saab AB (Sweden), BAE Systems (UK), Dillion Aero (US), AEI Systems Ltd. (UK), FN Herstal (Belgium), Capco LLC. (US), and ISTEC Services Ltd. (UK), among others.
The mechanical control cables market is expected to grow from USD 10.23 Billion in 2022 to USD 12.98 Billion by 2027, at a compound annual growth rate (CAGR) of 4.9% during the forecast period.The Major players Triumph Group, Inc. (US), Crane Aerospace & Electronics (US), Elliott Manufacturing (US), Loos & Co., Inc. (US), and Bergen Cable Technology (US).
The aviation blockchain market is expected to grow USD 1,394 million by 2025, at a CAGR of 22.1% during the forecast period. Some of the major players in the aviation blockchain market include Microsoft Corporation (US), IBM (US), Zamna Technologies (UK), Aeron Labs (Belize), Winding Tree (Switzerland), Volantio Inc (US), Filament (US), Infosys (India), Insolar Technologies (Switzerland), LeewayHertz Technologies (US), and Moog Inc. (US). These players provide blockchain platforms and solutions to various aviation companies.
The IoT in Aviation Market is expected to grow from USD 593 million in 2019 to USD 1,941 million by 2025, at a CAGR of 21.9% during the forecast period. Additionally, the presence of major airports and leading IoT in aviation companies in the US has resulted in high investments in the field of IoT in North America. Some of these leading companies include Microsoft Corporation (US), IBM Corporation (US), Cisco Systems, Inc. (US), and Honeywell Aerospace (US).
The Augmented and Virtual Reality (AR VR) Market in Aviation is expected to grow from USD 78 million in 2019 to USD 1,372 million by 2025, at a CAGR of 61.2% during the forecast period. The US also has a presence of major AR VR players - Microsoft Corporation (US), Google Inc. (US), Eon Reality (US), Aero Glass (US), Upskill (US), Oculus VR (US), Jasoren (US), IMB (US), among others.
The target acquisition systems market is projected to grow from USD 11.9 billion in 2019 to USD 15.5 billion by 2024, at a CAGR of 5.46% from 2019 to 2024. Some of the factors that are expected to fuel the growth of the target acquisition systems market are advancements in automatic weapons, increasing defense expenditure of countries, rise in demand for artillery systems by military forces, and ongoing military modernization programs worldwide. Major players operating in the target acquisition systems market include companies, such as Hensoldt (Germany), Elbit Systems (Israel), Israel Aerospace Industries (Israel), Aselsan A.S. (Turkey), Rheinmetall (Germany), BAE Systems (UK), and Leonardo (Italy), and Raytheon Company (US).
The less lethal ammunition market is projected to grow from USD 828 million in 2018 to USD 1,106 million by 2023, at a CAGR of 5.95% during the forecast period. Factors such as the increasing demand for less lethal ammunition such as rubber bullets, bean bag rounds, and smoke munitions across the world are expected to drive the less lethal ammunition market during the forecast period. Companies such as The Safariland Group (US), Combined Systems, Inc. (US), Federal Ammunition (US), Nonlethal Technologies (US), Rheinmetall AG (Germany), ST Engineering (Singapore), Lightfield Ammunition Corporation (US), Winchester Ammunition (US), Security Devices International, Inc. (US), Lamperd Less Lethal, Inc. (Canada), Condor Non-Lethal Technologies (Brazil), Less Lethal Africa (South Africa), MAXAM Outdoors S.A. (Spain), and Sellier & Bellot (Czech Republic) are some of the leading players in the less lethal ammunition market.
The market aircraft and marine turbochargers is projected to grow from USD 270 million in 2018 to USD 290 million by 2023, at a Compound Annual Growth Rate (CAGR) of 1.41% from 2018 to 2023. The rising demand for fuel-efficient aircraft engines, increasing number of aircraft deliveries, rising demand for light jets from countries such as the US, the UK, China, India, and Japan, and flourishing maritime tourism industry across the globe are leading to the growth of the aircraft and marine turbochargers market. Major vendors in the aircraft and marine turbochargers market include are Hartzell Engine Technologies (US), PBS Velka Bites (the Czech Republic), Rolls-Royce (UK), Mitsubishi Heavy Industries (Japan), Main Turbo Systems (US), ABB (Switzerland), Cummins (US), Kawasaki Heavy Industries (Japan), and MAN Energy Solutions (Germany).
The military computers market is estimated at USD 7.9 billion in 2018 and is projected to reach USD 10.5 billion by 2023, at a CAGR of 5.85 % from 2018 to 2023. The factors expected to fuel the military computers market growth is the increasing focus on deployment of rugged portable and wearable computers in military warzones. In addition, advancements in warfare technologies and modernization of military weapon systems are also expected to drive the market during the forecast period. Major players in the military computers market include Curtiss-Wright Corporation (US), Zebra Technologies Corp. (US), Cobham plc (UK), Saab (Sweden), Rockwell Collins, Inc (US), Thales Group (France), Northrop Grumman Corporation (US), Getac Technology Corporation (Taiwan), and Panasonic Corporation (Japan), among others.
The railway connectors market is expected to grow from USD 802 million in 2018 to USD 1,069 million by 2023, at a Compound Annual Growth Rate (CAGR) of 5.92% during the forecast period. Increased demand for different types of wagons is a major factor driving the growth of the railway connectors market. Wagons are rail vehicles used to carry passengers and freights. These vehicles are not equipped with propulsion systems and hence, are drawn by locomotives. The demand for wagons is continuously growing in countries such as the US, the UK, France, etc., due to increased industrial activities. Major vendors in the railway connectors market include are TE Connectivity (Switzerland), Amphenol Corporation (US), Molex Incorporated (US), ITT (US), Smiths Interconnect (US), Fischer Connectors (Switzerland), Esterline Technologies (US), Schaltbau (Germany), and Sichuan Yonggui Science and Technology (China).
The electrical wiring interconnection system (EWIS) market is projected to grow from USD 5.4 billion in 2018 to USD 6.8 billion by 2023, at a CAGR 4.66% from 2018 to 2023. Factors such as the increasing demand for more electric aircraft and aircraft deliveries are the factors expected to drive the market. Growth in passenger traffic and upgrade existing aircraft fleet technology are expected to drive the growth of the EWIS market across the globe. Key players in the EWIS market include Safran (France), GKN Aerospace (UK), and Latecoere (France), TE Connectivity (Switzerland), Ducommun (US), and Amphenol Corporation (US).
CubeSat falls in the category of miniature satellite formed of multiples of 10×10×10 cm cubic units. CubeSats are easy to launch given their small size, and serve complex applications like earth observation at cheaper cost than bigger satellites. CubeSats are a disruption for the space industry and various stakeholders of the market such as research and defense organizations, satellite manufacturers, satellite service providers and launch service providers are investing to reap the benefits of this market disruption.
The aircraft exhaust system market is projected to grow from an estimated USD 679.0 million in 2018 to USD 987.4 million by 2023, at a CAGR of 7.78% from 2018 to 2023. The factor that is expected to act as a major driver is the growing use of low drag, lightweight sound suppressant exhaust components. Aircraft exhaust systems are one of the significant contributors to the total aircraft nacelle weight and drag. The new low drag, lightweight exhaust components contribute in increasing the fuel efficiency of aircraft, and thus the demand for such components is increasing. The major players profiled in this report on the aircraft exhaust system market are Magellan Aerospace (Canada), Triumph Group (US), Ducommun (US), Nexcelle (US), Esterline Technologies (US), Nordam (US), Franke Industries (US), Senior Aerospace (UK) and GKN (UK), among others.
The vehicle intercom system market is projected to grow from an estimated USD 845.9 million in 2018 to USD 1,180.5 million by 2023, at a CAGR of 6.89% from 2018 to 2023. Factors such as the increasing complexity of military operations and the need for smooth communication in emergency vehicles are expected to drive the growth of the market. Major companies profiled in the vehicle intercom system market report are Cobham Plc. (UK), Harris Corporation (US), David Clark Company (US), Elbit Systems (Israel), and Thales Group (France)
The space robotics market is estimated to be USD 2.58 billion in 2017 and is projected to reach USD 4.36 billion by 2023, at a CAGR of 8.64% during the forecast period. Some of the major companies providing space robotics solutions include Altius Space Machines (US), Maxar Technologies (US), Motiv Space Systems (US), Space Systems/Loral (US), Honeybee Robotics (US), Astrobotic Technology (US), Made In Space (US), Effective Space Solutions Limited (UK) and Northrop Grumman (US). These key market players offer various space robotics solutions and robotics & subsystems, sensors & autonomous systems, software and robotic services, such as satellite servicing, on-orbit assembly and manufacturing, surface mobility, and de-orbiting services, among others. New product developments, partnerships, and contracts are the major growth strategies adopted by these players to enhance their positions in the space robotics market.
The rocket propulsion market is projected to grow from USD 4.23 billion in 2018 to USD 6.36 billion by 2023, at a CAGR of 8.50% during the forecast period. Increasing use of space launch services for satellites and testing probes applications is one of the significant factors driving the growth of the rocket propulsion market. Furthermore, the introduction of space tourism is anticipated to fuel the demand for rocket propulsion. Major players in the rocket propulsion market include Aerojet Rocketdyne (US), Orbital ATK (US), SpaceX (US), Antrix (India), and Mitsubishi Heavy Industries (Japan), among others.