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Aerospace and Defense Propulsion System Market Trends

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

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

Aerospace and Defense Propulsion System Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 14
  • Tables & Figures: 279
  • Countries covered: 20
  • Pages: 250
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