China’s “ 5B long march ” against. NASA sparks global interest in rocket engine market
Business Research Company Global Rocket Engines Market Report 2021: Impact and Recovery of COVID-19 through 2030
LONDON, GREATER LONDON, United Kingdom, May 13, 2021 /EINPresswire.com/ – The remains of the Chinese “Long March 5B” rocket plunged into the Indian Ocean earlier this week, sparking criticism from NASA over the country’s inability to meet responsible safety standards. The increasing number of rocket launches is expected to drive the growth of the rocket motor market in the coming years. Over the next decade, hundreds of businesses and government agencies around the world plan to launch rockets and hold tens of thousands of satellites in large constellations in low Earth orbit. The number of rocket launches has grown at an average rate of around 8% per year, with 114 launches in 2018. By 2025, the US launch rate alone will double to around 200 launches each year, although only half of the strategies are successful. Hence, the increase in rocket launches is propelling the growth of the rocket engine market.
The large Long March 5B rocket was allowed to land freely on Earth after its space trip, causing debris in the Indian Ocean. NASA criticized this, but China retaliated by saying that there had been no casualties from this re-entry and that it was a successful business that was being discredited. The return of the spacecraft, although risky, has been declared in accordance with international law and practice and is therefore considered a positive event by China.
the Global market model Covers data on the Rocket Motors market in the countries Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom, United States. The global rocket engine market size is expected to grow from $ 2.44 billion in 2020 to $ 2.61 billion in 2021 at a compound annual growth rate (CAGR) of 7%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that have resulted in operational challenges. The market is expected to reach $ 2.88 billion in 2025 with a CAGR of 2.5%.
The main players covered by global rocket engine 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, Rocket Lab.
3D printing technology is a key trend that is gaining popularity in the rocket engine market. Space organizations and private companies are designing 3D printed rocket engines to reduce costs and speed up production. For example, in September 2020, NASA’s Rapid Analysis and Manufacturing Propulsion Technology (RAMPT) project is developing the production of an additive manufacturing methodology using 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 production time. In February 2020, Skyrora, a US-based rocket start-up, had successfully tested its 3D printed rocket motors.
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