PUBLISHER: Allied Market Research | PRODUCT CODE: 1266378
PUBLISHER: Allied Market Research | PRODUCT CODE: 1266378
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.