Global Liquid (Storable) Propulsion Market Projected to Reach US$ 11,644.6 Million by 2031

According to a recent market study published by Growth Market Reports, titled, “Global Liquid (Storable) Propulsion Market By Propellant Type, By Vehicle Type, By Orbit, By End-User, and By Region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at US$ 6,116.8 Million in 2022 and is anticipated to grow at a growth rate 7.7% by the year 2031.

Liquid storable propulsion refers to a type of rocket propulsion system, which utilizes liquid fuels that are capable of being stored for extended periods without significant degradation. It is a subset of liquid rocket propulsion systems designed for use in various space vehicles, missiles, and satellites.

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Liquid storable propellants are hypergolic, which means they ignite spontaneously upon contact with each other without the need for an external ignition source. This allows for quick and reliable engine startup, a vital feature in military applications where rapid response and reliability are essential. This propulsion method typically involves two separate liquid components, a fuel and an oxidizer. The fuel and oxidizer remain in a liquid state at room temperature and pressure, which allows them to be easily stored in tanks within the spacecraft or missile.

The Global Liquid (Storable) Propulsion Market is driven by factors such as Space Exploration Initiatives, Military and Defense Applications, Satellite Deployment and Services, and Government Funding and Policies. The key characteristic of liquid storable propellant is their stability and ability to be maintained in a liquid state over long duration. This trait is crucial for applications that require long-term storage without frequent maintenance or refueling, such as military missiles, satellites, and spacecraft meant for extended missions.

The outbreak of Coronavirus disease in 2019 (COVID-19) restrained the global economy, created global interdependence, and challenged the governments of various nations. The COVID-19 outbreak is an unsurpassed public health emergency that impacted almost every industry across the globe. The long-term effects of the pandemic are expected to impact the growth of various industries during the forecast period, especially in the US, across Eastern Europe, European Union, and Eastern & Central Asia. The space sector has been profoundly impacted by the COVID19 crisis and lockdown measures adopted by governments to slow down and mitigate the spread of the pandemic. All sectors of the space value chain, including space agencies, manufacturers, launch service providers, satellite operators as well as downstream companies were confronted with multiple restrictions that disrupted their activities to varying extent.

Key Takeaways from the Study:

• Key players operating in the market Ariane Group, L3Harris Technologies, Inc. (Aerojet Rocketdyne), Northrop Grumman, Sierra Space Corporation, URSA MAJOR TECHNOLOGIES INC., MITSUBISHI HEAVY INDUSTRIES, LTD., Dawn Aerospace, IMPULSE SPACE, INC., Launcher Inc. (a VAST Company), Skyroot Aerospace, GateSpace, ECAPS, Benchmark SpaceSysteme, Panega, EPIC, and T4i. These companies are considered key manufacturers of Liquid (Storable) Propulsion based on their revenue, research development (R&D) activities, regional presence, and supply chain management system.

• Based on Propellant Type, the Global Liquid (Storable) Propulsion Market is segmented into Monopropellants, and Bi-Propellants. Various types of high-energy monopropellants have the potential to transform in-space military system capabilities. Researchers are still working to create monopropellants. However, high toxicity and rising handling costs, as well as increased environmental awareness are boosting the search for green propellants that are both environmentally friendly and high-performing. Bipropellant propulsion is focused on maximizing the performance of storable propellants through the use of high-temperature, oxidation-resistant chamber materials. The performance of bipropellant systems is improved further by operating at high chamber pressures and/or using high-energy oxidizers.

• On the Vehicle Type, the Global Liquid (Storable) Propulsion Market is segmented into Launch Vehicles, Satellites, Space Probes & Landers, and Others. The launch vehicles segment is further divided into small-lift, medium-lift, heavy-lift, and super heavy lift. The launch vehicles segment is expanding at a high CAGR. Semi-cryogenic engines, reusable launch vehicles, two-stage-to-orbit rocket launch vehicles, and other technological advances are creating opportunities for the market growth. Launch vehicle trends in the field of liquid propulsion are constantly evolving to meet the growing demands of the space industry. The others segment includes satellites, space probes and landers, and others. Small satellites are increasingly being used for high-speed space-based internet services. Small satellites are increasingly being used by organizations for technology demonstrations, scientific research, and experimentation. Increasing use of small satellites among small and medium enterprises and startups is expected to aid in the market growth during the forecast period.

• In terms of Orbit, the Global Liquid (Storable) Propulsion Market is segmented into Low Earth Orbit, Medium Earth Orbit, and Geosynchronous Earth Orbit. LEO (low earth orbit) satellites orbit at a height of 250-2000 km above the Earth's surface in a circular (or elliptical) orbit. The orbit period varies between 90 and 120 minutes, depending on altitude. LEO is an orbit with an altitude ranging from 200-300 km to 1600 km. A medium Earth orbit (MEO) is an Earth-centered orbit with an altitude between 2,000 and 35,786 km (1,243 and 22,236 mi) above sea level, which is higher than a low Earth orbit (LEO) but lower than a high Earth orbit (HEO). A geosynchronous orbit (GEO) is a prograde, low-inclination orbit around the Earth that lasts 23 hours, 56 minutes, and 4 seconds. A spacecraft in geosynchronous orbit appears to remain above the Earth at a constant longitude, despite appearing to drift north and south.

• Based on End-user, the Global Liquid (Storable) Propulsion Market is segmented into Commercial-User, and Government & Defense. The commercial-user segment is further bifurcated into satellite operators and private space organizations. The government & defense segment is further divided into military, national space agencies, and others. Commercial users usually contract with manufacturers, launch service providers, or propulsion system suppliers to acquire and integrate liquid propulsion systems into their spacecraft or launch vehicles. Further, commercial-user is bifurcated into satellite operators and private space organizations. Government and defense agencies use a variety of vehicles for a variety of purposes, including transportation, logistics, security, and military operations. These organizations frequently have specific requirements and needs for vehicles in order to carry out their missions. Further, government and defense is bifurcated into military, national space agencies, and others.

• Based on Region, the Global Liquid (Storable) Propulsion Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa (MEA). The North America region is heavily investing in both public space investment and private space investment, thereby boosting the market. Defense activities have fueled space investment activities in Canada. For instance, North American Aerospace Defense Command (NORAD), during the Cold War, the joint American-Canadian organization was critical for continental defense, early warning detection of airborne threats, and satellite tracking. France is escalating spending on national and European space programs, as the European Space Agency works to secure commitments to increase its significant budget.

Report Scope:

Target Audience:

• Supply-side: Manufacturer, Components, End-use Industries.

• Demand Side: Automotive Industry, Private Space Organizations, National Space Agencies.