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Rocket propulsion is used to produce thrust to push the rocket forward into space by applying Newton’s third law of action and reaction. A major factor expected to drive growth of the global rocket propulsion market over the forecast period is increasing adoption of advanced liquid propulsion engines and high thrust rocket motors for space launch vehicles.

The global rocket propulsion market report has been segmented on the basis of product type, propulsion type, orbit type, component, launch vehicle type, end user, and region. On the basis of product type, the target market is segmented into rocket motor and rocket engine. The rocket engine segment is expected to register major revenue share in the target market during the forecast period. On the basis of propulsion type, the target market is segmented into solid propulsion, liquid propulsion, and hybrid propulsion. The hybrid propulsion segment is expected to register highest growth rate in the target market over the forecast period. On the basis of orbit type, the target market is segmented into low earth orbit (LEO), medium earth orbit (MEO), geosynchronous equatorial orbit (GEO), and beyond GEO. The low earth orbit segment is estimated to register highest share in terms of revenue in the target market over the forecast period.

On the basis of component, the target market is segmented into motor casing, nozzle, igniter hardware, turbo pump, and propellant. The propellant segment is projected to witness fastest growth in terms of revenue in the target market over the forecast period. On the basis of launch vehicle type, the target market is segmented into manned and unmanned. The unmanned segment is anticipated to account for major growth rate in the target market over the forecast period. On the basis of end user, the target market is segmented into military & government and commercial. The military & government segment is projected to register highest revenue share in the target market in the next coming years.

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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The rocket propulsion market in North America is expected to account highest revenue share in the target market over the forecast period. The Asia Pacific rocket propulsion market is projected to witness fastest growth rate in global rocket propulsion market over the forecast period.

Key players operating in the global rocket propulsion market include SPACE EXPLORATION TECHNOLOGIES CORP., Mitsubishi Heavy Industries, Ltd., Aerojet Rocketdyne, Inc., Northrop Grumman Innovation Systems, Antrix Corp., Safran SA, Blue Origin, LLC, NPO Energomash OAO, Virgin Galactic, LLC, IHI Corporation, and Rocket Lab USA

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