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Aerospace and Defense Propulsion System Market Trends

Report ID: GMI6762
Published Date: Sep 2023
Report Format: PDF

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Aerospace and Defense Propulsion System Market Trends

The market is influenced by several key trends. There is a growing emphasis on sustainability and eco-friendliness, driving the development of cleaner & more fuel-efficient propulsion technologies. The rise of autonomous and unmanned systems is fueling the demand for compact & high-performance propulsion systems for drones and UAVs. Additionally, advancements in additive manufacturing and materials are leading to more lightweight & durable components. Commercial space endeavors and space exploration missions are fueling innovation in rocket propulsion, and increased digitalization and data-driven maintenance practices are enhancing the reliability and cost-effectiveness of propulsion systems, reshaping the industry landscape.

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Aerospace and defense propulsion system industry size was USD 260.4 billion in 2022 and may witness over 6.5% CAGR from 2023 to 2032 due to the rising rate of global defense spending.

The unmanned aerial vehicles (UAVs) application segment held over 15% share of the aerospace and defense propulsion system industry in 2022 owing to growing usage in surveillance, reconnaissance, and cargo delivery

The air-breathing type recorded over 70% revenue share of the aerospace and defense propulsion system market in 2022 and will observe over 6% CAGR from 2023 to 2032 due to wide application scope in military fighter aircraft and commercial airliners

North America held over 30% share of the aerospace and defense propulsion system industry in 2022 due to the swift expansion of commercial space activities driven by private companies, such as SpaceX and Blue Origin