Global Propulsion Systems Market Size study, By Type (Air-Breathing {Gas Turbines & Jet Engines, Ramjets & Scramjets, Internal Combustion}, Non-Air Breathing {Solid Propulsion, Liquid Propulsion, Hybrid Propulsion, Electric Propulsion}), By Application (M

Global Propulsion Systems Market Size study, By Type (Air-Breathing {Gas Turbines & Jet Engines, Ramjets & Scramjets, Internal Combustion}, Non-Air Breathing {Solid Propulsion, Liquid Propulsion, Hybrid Propulsion, Electric Propulsion}), By Application (Missiles, Aircraft, Spacecraft, Unnamed Aerial Vehicles) and Regional Forecasts 2021-2027

Global Propulsion Systems Market is valued approximately USD 316.67 Billion in 2020 and is anticipated to grow with a healthy growth rate of more than 6.66% over the forecast period 2021-2027.

Propulsion refers to the process or action of pulling or pushing to drive an object forward. The propulsion system includes a source of mechanical power and a propulsor. A propulsion system is a machine that produces thrust to transmit or push a forward motion in the object. Accordingly, the major function of the propulsion system is to generate thrust. Thrust is the force that moves a rocket through the air and space. The rising number of commercial applications of the propulsion systems, increasing space expeditions, growing need for long-range missiles are the factors that may propels the market demand around the world. For instance, in 2019, a Japanese aerospace start-up, Interstellar Technologies launched the Momo-3 unmanned rocket- the country’s first privately advanced rocket. Therefore, the growth of the private organizations, along with the rising government support for realizing constant launches and mass production of rockets is surging the market growth. However, the lack of knowledge transfer platforms and the high costs involved in the advancements of the novel technologies impedes the growth of the market over the forecast period of 2021-2027. Also, rising defense expenditures majorly in the emerging economies is anticipated to act as a catalyzing factor for the market demand during the forecast period.

The key regions considered for the global Propulsion Systems market study includes Asia Pacific, North America, Europe, Latin America and the Rest of the World. North America is the leading region across the world in terms of market share owing to the development of military & commercial aviation, the growing number of space expeditions, as well as economic growth. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2021-2027. Factors such as the increased spending on the defense segment, rising industrialization, along the growing need for military transport aircraft would create lucrative growth prospects for the Propulsion Systems market across the Asia-Pacific region.

Major market player included in this report are:
NPO Energomash.
Konstruktorskoe Buro Khimavtomatiky
Honeywell International Inc.
Bombardier Recreational Products Inc
Moog Inc.
FSUE RDIME
Space Exploration Technologies Corp.
UNITED TECHNOLOGIES
Aerojet Rocketdyne Holdings
Orbital ATK Inc
3W International GmbH
Busek Co. Inc.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type
Air-Breathing
Gas Turbines & Jet Engines
Ramjets & Scramjets
Internal Combustion
Non-Air Breathing
Solid Propulsion
Liquid Propulsion
Hybrid Propulsion
Electric Propulsion
By Application
Missiles
Aircraft
Spacecraft
Unnamed Aerial Vehicles

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027

Target Audience of the Global Propulsion Systems Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors