Probe Rocket Market Report 2025

The probe rocket market size has grown strongly in recent years. It will grow from $16.53 billion in 2024 to $17.79 billion in 2025 at a compound annual growth rate (CAGR) of 7.6%. The expansion during the historic period is due to lowered launch costs thanks to reusability, rising demand for commercial space launches, advancements in rocket propulsion technology, increased investments from private space firms, and a growing enthusiasm for space tourism.

The probe rocket market size is expected to see strong growth in the next few years. It will grow to $23.55 billion in 2029 at a compound annual growth rate (CAGR) of 7.3%. The growth expected during the forecast period is driven by rising demand for compact and energy-efficient space probes, increased investments and government funding for space missions and commercial startups, advancements in rocket reusability and launch technologies, expanding uses in planetary exploration and satellite deployment, and a stronger emphasis on cost-effective, adaptable land- and sea-based launch platforms. Key trends in this period include the creation of heavy-lift probe rockets, interplanetary exploration initiatives, affordable launch solutions, innovations in propulsion systems to boost efficiency, and the incorporation of digital twin technology in rocket design.

The increasing activities in commercial space exploration are expected to boost the growth of the probe rocket market in the future. Commercial space exploration includes space missions, services, and innovations carried out by private companies for profit, research, or commercial purposes beyond government-led programs. This rise is driven by growing private investments, with companies funding new technologies and missions to tap into emerging opportunities in space markets. Probe rockets play a crucial role in supporting these activities by transporting scientific instruments, telecommunication payloads, and exploratory probes into space. For example, in January 2024, the Space Foundation, a US-based nonprofit space organization, reported that global launch activity reached record levels for the third consecutive year, with 223 launch attempts and 212 successful launches. Commercial launch activities increased by 50% compared to 2022. As a result, the growth in commercial space exploration is anticipated to fuel the expansion of the probe rocket market.

Increasing investments in space missions are projected to further propel the probe rocket market’s growth. Space missions involve planned operations to send spacecraft or astronauts into outer space for exploration, research, or technological objectives. These investments are rising due to the heightened demand for satellite-based services, as governments and companies increasingly depend on satellites for communication, navigation, Earth observation, and data analysis. Funding from these investments enables the development of probe rockets by supporting the necessary research, technology advancements, and engineering needed to design and launch spacecraft for exploration. For instance, in July 2025, the UK Space Agency, a UK government body, reported that UK-based space companies secured $647 million (£481 million) through 92 investment deals in 2024. Venture capital accounted for 43% of this funding and 16% of the deals. Hence, growing investments in space missions are contributing significantly to the probe rocket market’s growth.

Key players in the probe rocket market are concentrating on the development of planetary defense probes to improve the monitoring and analysis of potential celestial threats. Planetary defense probes are spacecraft designed to detect, track, and mitigate asteroids or other space objects that might endanger Earth. For example, in October 2024, the European Space Agency, a France-based intergovernmental organization, launched the Hera planetary defense probe aboard a SpaceX Falcon 9 rocket. The Hera mission is unique as it involves three separate spacecraft. The primary spacecraft measures 1.6 meters in width and has two solar panels, each five meters long. It also carries two 10-centimeter CubeSats: Milani, which investigates the mineral composition of the asteroid Dimorphos and its surrounding dust, and Juventas, which conducts the first subsurface radar survey of an asteroid.

Major players in the probe rocket market are The Boeing Company, Lockheed Martin Corporation, Northrop Grumman Corporation, Safran SA, Space Exploration Technologies Corp., Blue Origin LLC, Magellan Aerospace Corporation, Rocket Lab USA Inc., Intuitive Machines Inc., Andøya Space Center, Orienspace Technology Co. Ltd., Virgin Galactic Holdings Inc., Equatorial Space Systems Pty. Ltd., HyImpulse Technologies GmbH, TiSPACE (Technology Innovations in Space Exploration Co. Ltd.), Perigee Aerospace Co. Ltd., Wickman Spacecraft & Propulsion Company, T-Minus Engineering B.V., PLD Space S.L., and Skyroot Aerospace Private Limited.

North America was the largest region in the probe rocket market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in probe rocket report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the probe rocket market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The sharp hike in U.S. tariffs and the associated trade disputes in spring 2025 are notably impacting the aerospace and defense sector by raising costs for titanium, carbon fiber composites, and avionics materials largely sourced from global suppliers. Defense contractors, locked into fixed-price government contracts, absorb these added costs, while commercial aerospace firms face airline pushback on higher aircraft prices. Delays in component shipments due to customs bottlenecks further disrupt tight production schedules for jets and satellites. The industry is responding by stockpiling critical materials, seeking waivers for defense-related imports, and collaborating with allied nations to diversify supply chain.

A probe rocket is an unmanned vehicle designed to transport scientific equipment or sensors into space or high-altitude areas for research and data gathering. Its main goal is to examine celestial objects, space conditions, or atmospheric phenomena without requiring human involvement, allowing for safer and more affordable exploration.

The primary categories of probe rockets include sounding rockets, research rockets, suborbital rockets, and experimental rockets. Sounding rockets are suborbital vehicles that carry scientific instruments into the upper atmosphere or near space to study atmospheric, astronomical, and microgravity effects. These rockets employ various propulsion methods such as chemical, hybrid, electric, and solid propulsion, and can accommodate payloads of varying sizes, including small, medium, large, and heavy. Multiple users rely on probe rockets, including government space agencies, private aerospace firms, research organizations, and educational institutions.

The probe rocket market research report is one of a series of new reports that provides probe rocket market statistics, including the probe rocket industry global market size, regional shares, competitors with the probe rocket market share, detailed probe rocket market segments, market trends, and opportunities, and any further data you may need to thrive in the probe rocket industry. This probe rocket market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The probe rocket market includes of sales of launch vehicles, rocket engines, and navigation equipment. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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