Rocket hybrid propulsion is a method used to send a projectile into outer space while breaking earth’s gravity. The propulsion system used in rockets generates an enormous forward push thus lifting the rocket from the ground and propelling it toward space. Hybrid rocket engines possess capabilities of both solid & liquid propulsion systems. These systems are used for several operations such as various space activities such as microsatellites, lunar & planetary landers, and suborbital, & orbital tourism vehicles. The goal of rocket hybrid propulsion is to improve the performance, storability, non-toxicity & safety of rocket propellants. Countries such as the U.S., China, and India are looking forward to strengthening their space exploration to further increase government spending. For instance, the China National Space Administration (CNSA) had $11,000 million, and National Aeronautics and Space Administration (NASA) had $19,500 million as the government budget for the space industry in 2019.
The factors such as an increase in number of space explorations, rise in commercial applications of the space industry, and high efficiency & technological advancements in rocket propulsion supplement the growth of the rocket hybrid propulsion market across the globe. However, the lack of measures for the disposal of orbital debris and political insurgencies between nations are the factors that hamper the growth of the hybrid rocket propulsion market across the globe. In addition, advances in rocket propulsion, and cost-effective spacecraft launches create numerous opportunities for the key players operating in the rocket hybrid propulsion industry to develop advanced technologies, which creates a wider scope for the growth of the market across the globe.
For the purpose of analysis, the global rocket hybrid propulsion market is segmented on the basis of type, orbit, component, vehicle type, end-user, and region. By type, the market is divided into rocket engine, and rocket motor. By orbit, it is fragmented into low earth orbit (LEO), medium earth orbit (MEO), geostationary earth orbit (GEO), and beyond geosynchronous orbit (BGEO). By component, it is categorized into motor casing, nozzle, igniter hardware, turbopump, propellant, and others. By vehicle type, a rocket hybrid propulsion can be manned and unmanned type.
By end-user, it is further classified into military and commercial. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The leading players operating in the hybrid rocket propulsion market are China Aerospace Science and Technology Corporation, Environmental Aeroscience Corporation, ISRO, HyPrSpace, Nammo AS, Northrop Grumman, Raytheon Technologies Corporation, Virgin Galactic, HyImpulse, and Pulsar Fusion.
The factors such as an increase in number of space explorations, rise in commercial applications of the space industry, and high efficiency & technological advancements in rocket propulsion supplement the growth of the rocket hybrid propulsion market across the globe. However, the lack of measures for the disposal of orbital debris and political insurgencies between nations are the factors that hamper the growth of the hybrid rocket propulsion market across the globe. In addition, advances in rocket propulsion, and cost-effective spacecraft launches create numerous opportunities for the key players operating in the rocket hybrid propulsion industry to develop advanced technologies, which creates a wider scope for the growth of the market across the globe.
For the purpose of analysis, the global rocket hybrid propulsion market is segmented on the basis of type, orbit, component, vehicle type, end-user, and region. By type, the market is divided into rocket engine, and rocket motor. By orbit, it is fragmented into low earth orbit (LEO), medium earth orbit (MEO), geostationary earth orbit (GEO), and beyond geosynchronous orbit (BGEO). By component, it is categorized into motor casing, nozzle, igniter hardware, turbopump, propellant, and others. By vehicle type, a rocket hybrid propulsion can be manned and unmanned type.
By end-user, it is further classified into military and commercial. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The leading players operating in the hybrid rocket propulsion market are China Aerospace Science and Technology Corporation, Environmental Aeroscience Corporation, ISRO, HyPrSpace, Nammo AS, Northrop Grumman, Raytheon Technologies Corporation, Virgin Galactic, HyImpulse, and Pulsar Fusion.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the rocket hybrid propulsion market analysis from 2021 to 2031 to identify the prevailing rocket hybrid propulsion market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the rocket hybrid propulsion market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global rocket hybrid propulsion market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Rocket Motor
- Rocket Engine
By Orbit
- Low Earth Orbit (LEO)
- Medium Earth Orbit (MEO)
- Geostationary Earth Orbit (GEO)
- Beyond Geosynchronous Orbit (BGEO)
By Component
- Motor Casing
- Nozzle
- Igniter Hardware
- Turbo Pump
- Propellant
- Others
By Vehicle Type
- Manned
- Unmanned
By End User
- Military and Government
- Commercial
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- China Aerospace Science and Technology Corporation
- Environmental Aeroscience Corporation
- HyPrSpace
- Nammo AS
- Raytheon Technologies Corporation
- Virgin Galactic
- HyImpulse
- ISRO
- Northrop Grumman
- PULSAR FUSION
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ROCKET HYBRID PROPULSION MARKET, BY TYPE
CHAPTER 5: ROCKET HYBRID PROPULSION MARKET, BY ORBIT
CHAPTER 6: ROCKET HYBRID PROPULSION MARKET, BY COMPONENT
CHAPTER 7: ROCKET HYBRID PROPULSION MARKET, BY VEHICLE TYPE
CHAPTER 8: ROCKET HYBRID PROPULSION MARKET, BY END USER
CHAPTER 9: ROCKET HYBRID PROPULSION MARKET, BY REGION
CHAPTER 10: COMPETITIVE LANDSCAPE
CHAPTER 11: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
The Rocket Hybrid Propulsion Market is expected to experience a significant growth rate of 6.7% from 2022-2031 owing to increasing space exploration & satellite launches across the globe.Hybrid rocket propulsion is a special type of propulsion system designed for rockets where the rocket motor utilizes propellants in two different states of matter i.e., one solid and the other either gas or liquid. Hybrid rockets refrain some disadvantages of solid rockets such as the dangers of propellant handling, while also avoiding some disadvantages of liquid rockets such as their mechanical complexity. In addition to liquid rocket engines, hybrid rocket motors can be shut down easily and the thrust is throttleable. Normally, a hybrid rocket comprises a pressure vessel (tank) consisting of liquid propellant, a combustion chamber containing solid propellant, and a valve isolating the two. When thrust is intended, a suitable ignition is introduced in the combustion chamber and the valve is opened. The liquid propellant flows into the combustion chamber where it is vaporized and then reacts with the solid propellant. Also, combustion occurs in a boundary layer diffusion flame, which is placed adjacent to the surface of the solid propellant.
Hybrid rockets have higher impulse than solid propulsion system and hence, they are considered in many specific areas of space transportation. The applications consist of lunar & planetary landers, microsatellites (orbit transfer & maneuvering), suborbital and orbital tourism vehicles. The most positive qualities of a hybrid propulsion are safety, simplicity, stop & restart ability, and throttling ability. Hybrid propellants are storable and non-toxic. Usually, the liquid propellant is the oxidizer, and solid propellant is the fuel, because solid oxidizers are sometimes problematic and less performing than liquid oxidizers. Furthermore, using a solid fuel such as hydroxyl-terminated poly butadiene (HTPB) or paraffin wax allows for the incorporation of high-energy fuel additives such as aluminum, lithium, or metal hydrides.
The key factors driving the growth of the ricket hybrid propulsion market include increase in number of space explorations, rise in commercial applications of the space industry, and high efficiency & technological advancements in rocket propulsion which creates a wider scope for the growth of the market across the globe. Exploring the universe has been one of the major objectives of humankind. Human interest has fueled curiosity in exploring and discovering new worlds, pushing the limits of the known, and increasing technical and scientific knowledge. States and space agencies have been involving in space exploration since the first space launch. The first space launch led to the first human space flight, which led to the first moonwalk.
At present attention has shifted to joint robotic and human missions, Mars, near-Earth asteroids, and destinations beyond solar system. The pace of space exploration was rapid with key developments in space policy. In December 2021, there were a record 19 people weightless in space, eight of them private citizens. The six tourist spaceflights in 2021 were also a record, and part of a resurgence in activity in space. In 2021, there were about 134 successful orbital missions in China, which were closer to the launches carried out by the U.S. in 2021.
The market also offers growth factors to the key players operating in the market to enhance their services, which creates ample opportunities for the growth of the market across the globe. For instance, in April, 2022, Raytheon Technologies invested in Firehawk Aerospace, a company that specializes in high-performance propulsion technology. Both companies collaboratively worked on research and development projects that explore the integration of Firehawk's technology into future missile systems, as Firehawk has several patents related to hybrid propulsion, various rocket propellants, and manufacturing methods.
The green tire market is segmented into type, orbit, component, vehicle type, end user, and region. By type, the market is divided into rocket engine, and rocket motor. By orbit, it is fragmented into low earth orbit (LEO), medium earth orbit (MEO), geostationary earth orbit (GEO), and beyond geosynchronous orbit (BGEO). By component, it is categorized into motor casing, nozzle, igniter hardware, turbopump, propellant, and others. By vehicle type, a rocket hybrid propulsion can be manned and unmanned type. By end-user, it is further classified into military & government and commercial. By region, it is analyzed across North America (U.S., Canada and Mexico), Europe (Germany, UK, France, Russia and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).
The key players profiled in the study include China Aerospace Science and Technology Corporation, Environmental Aeroscience Corporation, ISRO, HyPrSpace, Nammo AS, Northrop Grumman, Raytheon Technologies Corporation, Virgin Galactic, HyImpulse, and Pulsar Fusion. Developments have been carried out by these companies which creates a wider scope for the growth of the market across the globe. For instance, in September, 2022, The Indian Space Research Organization (ISRO) successfully launched a hybrid propulsion system that uses solid fuel and liquid oxidizer. The hybrid system is effective, greener, and safer to handle and opens the way for new propulsion technologies for future missions, the Vikram Sarabhai Space Centre (VSSC) which was supported by the Liquid Propulsion Systems Centre (LPSC). Similarly, in March, 2022, HyImpulse launched its suborbital-sounding rocket SR75. The sounding rocket SR75 helps in performing microgravity experiments or atmospheric research. These technologies include the fully in-house developed, novel hybrid propulsion system and the proprietary LOX-compatible lightweight linerless CFRP tanks.
Key Market Insights
- By type, the rocket engine segment was the highest revenue contributor to the market and is estimated to reach $1,012.8 million by 2031, with a CAGR of 6.4% during the forecast period.
- By orbit, the low earth orbit (LEO) segment dominated the global market and is estimated to reach $874.6 million by 2031, with a CAGR of 6.1% during the forecast period.
- By component, the propellant segment was the highest revenue contributor to the market and is estimated to reach $639.8 million by 2031, with a CAGR of 7.8%.
- By vehicle type, the unmanned segment was the highest revenue contributor to the market and is estimated to reach $1,025.4 million, with a CAGR of 5.8% from 2022-2031.
- By region, North America was the highest revenue contributor, accounting for $471.3 million in 2021, and is estimated to reach $898.3 million by 2031, with a CAGR of 6.9%.
Companies Mentioned
- China Aerospace Science and Technology Corporation
- Environmental Aeroscience Corporation
- HyPrSpace
- Nammo AS
- Raytheon Technologies Corporation
- Virgin Galactic
- HyImpulse
- ISRO
- Northrop Grumman
- PULSAR FUSION
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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