Comprehensive 2025 Solid Rocket Propellant Market Overview: Trends, Forecasts, and Growth Drivers

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What Is the Expected CAGR for the Solid Rocket Propellant Market Through 2025?
The market share for solid rocket propellants has seen significant growth in the past few years. It's projected to rise from $2.98 billion in 2024 to $3.16 billion in 2025, with a compound annual growth rate (CAGR) of 6.2%. This upward trend from the historical period is due to factors such as the increasing use of solid propulsion in tactical weaponry, growth in research and development in advanced propellants, a heightened demand for trustworthy launch systems, escalating geopolitical tensions prompting defense spending, and the modernization of missile and defense systems.

What's the Projected Size of the Global Solid Rocket Propellant Market by 2029?
Strong expansion is predicted in the coming years for the solid rocket propellant market, with an expected growth to $3.99 billion in 2029 due to a compound annual growth rate (CAGR) of 6.0%. This anticipated growth can be credited to the growing uptake of nano-composite propellants, increased investments in environment-friendly propellant technologies, the rising need for cost-efficient propulsion methods, a greater emphasis on hypersonic weapon development, and a hike in demand for responsive launch capacities. Key trends within this forecast period point towards developments in green and eco-friendly propellants, the incorporation of intelligent propulsion systems, progressions in high-energy propellant formulations, advancements in solid propellant safety and stability, and the addition of additive manufacturing in propellant production.

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Top Growth Drivers in the Solid Rocket Propellant Industry: What's Accelerating the Market?
The solid rocket propellant market is predicted to spur due to the escalating demand for satellite launches. The concept of satellite launches revolves around dispatching artificial satellites into space using launch vehicles or rockets. The surge in satellite launches is attributed to the heightened need for global connectivity as more and more areas strive for reliable internet access via satellite-based broadband services. Solid rocket propellant contributes significantly to satellite launches by offering dependable and powerful propulsion, thereby being perfect for hoisting payloads into orbit. By eradication of intricate fuel systems, it simplifies launch systems, paving the way for swifter response times and economical mission execution. For example, the Government Accountability Office, an American governmental agency, documented around 5,500 active satellites in orbit in September 2022, with forecasts predicting the deployment of another 58,000 by 2030. Hence, the intensified demand for satellite launches is fuelling the expansion of the solid rocket propellant market.

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What Trends Will Shape the Solid Rocket Propellant Market Through 2029 and Beyond?
Leading corporations in the solid rocket propellant sector are prioritizing the creation of innovative products, such as medium-lift rockets, to increase payload ability and adaptability of missions. Medium-lift rockets are launch vehicles able to transport payloads generally between 2,000 and 20,000 kilograms to low Earth orbit, acting as a bridge between smaller and larger lift rockets for diverse satellite and mission needs. To illustrate, in January 2024, Gravity-1 rocket, a superior solid propellant rocket was launched by Orienspace Technology Co. Ltd., a company in China that specializes in space technology. This launch established a new benchmark in the commercial space industry by successfully achieving a payload capacity of around 6,500 kilograms to low Earth orbit. The Gravity-1 rocket, fitted with a three-stage core and four solid-fuel side boosters, gives an estimated thrust of 600 tons at liftoff and has the potential to transport up to 6.5 tons to low Earth orbit.

What Are the Main Segments in the Solid Rocket Propellant Market?
The solid rocket propellant market covered in this report is segmented -

1) By Type: Composite Propellants, Homogeneous Propellants, Heterogeneous Propellants, Liquid Propellants
2) By Propellant Composition: Ammonium Perchlorate, Potassium Nitrate, Hydroxy-Terminated Polybutadiene (HTPB), Aluminum Powder
3) By End-Use Industry: Military, Aerospace, Commercial

Subsegments:
1) By Composite Propellants: Hydroxyl-Terminated Polybutadiene (HTPB) Based, Ammonium Perchlorate (AP) Based, Aluminum Fuel Based
2) By Homogeneous Propellants, Double-Base Propellants, Triple-Base Propellants
3) By Heterogeneous Propellants: Fuel-Rich Propellants, Oxidizer-Rich Propellants
4) By Liquid Propellants: Cryogenic Propellants, Hypergolic Propellants, Storable Liquid Propellants

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Which Top Companies are Driving Growth in the Solid Rocket Propellant Market?
Major Companies operating in the solid rocket propellant market are Northrop Grumman Corporation, BAE Systems plc, L3Harris Technologies Inc., IHI Corporation, Rheinmetall AG, Elbit Systems Ltd., Hanwha Aerospace Co. Ltd., ArianeGroup SAS, Roketsan A.S., Nammo AS, General Dynamics Ordnance And Tactical Systems, Eurenco S.A., TNO Defence Safety and Security, Roxel Group, Avibras Industria Aeroespacial S/A, Avio S.p.A., Black Sky Industries, Ursa Major Technologies Inc., Indian Space Research Organisation, Rafael Advanced Defense Systems Ltd.

Which Regions Will Dominate the Solid Rocket Propellant Market Through 2029?
North America was the largest region in the solid rocket propellant market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the solid rocket propellant market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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