Rocket Engines Market Reduces Costs And Speeds Up Production With 3D Printing Technology

The Business Research Company’s Rocket Engines Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, April 1, 2022 /EINPresswire.com/ -- 3D printing technology is one of the key rocket engines market trends gaining popularity. Space organizations and private companies are designing 3D printed rocket engines to reduce costs and speed up production. For instance, in September 2020, NASA's Rapid Analysis and Manufacturing Propulsion Technology (RAMPT) project are developing the production of an additive manufacturing methodology utilizing metal powder and lasers to 3D print rocket engine components. This technology is expected to reduce the cost of manufacturing complex combustion parts and also reduce the lead time of production. In February 2020, Skyrora, a US-based rocket start-up company, had successfully tested its 3D-printed rocket engines.

North America is the largest region in the rocket engines market in 2021. North America is also expected to be the fastest growing region in the forecast period. The regions covered in the rocket engines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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https://www.thebusinessresearchcompany.com/report/rocket-engines-global-market-report

The global rocket engines market size is expected to grow from $2.73 billion in 2021 to $2.81 billion in 2022 at a compound annual growth rate (CAGR) of 2.9%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The rocket engine market is expected to reach $3.60 billion in 2026 at a CAGR of 6.4%.

The increasing rocket launches are expected to drive the rocket engines market growth in the coming years. Over the next decade, hundreds of corporations and government agencies around the world are planning to launch rockets and hold tens of thousands of satellites in large low-Earth orbit constellations. In 2019, there were 102 orbital launch attempts worldwide, with 97 of them reaching orbit. By 2025 the U.S. launch rate alone will double to around 200 launches each year, even if half of the strategies are successful. According to the rocket engines market forecast, the increasing rocket launches propel the growth of the market.

Major players covered in the global rocket engines industry are Aerojet Rocketdyne, Space X, Roscosmos, Mitsubishi Heavy Industries, Northrop Grumman, Safran, China Aerospace Science, and Technology Corporation (CASC), NASA, Blue Origin, Lockheed Martin, The Boeing Company and Rocket Lab.

TBRC’s global rocket engines market report is segmented by type into physically powered, chemically powered, electrically powered, thermal, nuclear, by product type into liquid rocket engine, solid rocket engine, by application into spacecraft, ballistic missiles, others.

Rocket Engines Global Market Report 2022 – By Type (Physically Powered, Chemically Powered, Electrically Powered, Thermal, Nuclear), By Product Type (Liquid Rocket Engine, Solid Rocket Engine), By Application (Spacecraft, Ballistic Missiles) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a rocket engines global market overview, forecast rocket engines global market size and growth for the whole market, rocket engines market segments, geographies, rocket engines market trends, rocket engines market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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