Propulsion Systems - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Propulsion Systems market accounted for $261.00 billion in 2017 and is expected to reach $543.80 billion by 2026 growing at a CAGR of 8.5% during the forecast period. Growing space expeditions, increasing applications in various defense weapons and increasing need for long-range missiles are some of the key driving factors for the market growth. However, stringent airspace regulations may hinder market growth.
A propulsion system is referred to a system of machines that produces thrust to push an object forward. Propulsion systems work on Newton’s third law, i.e. ‘for every action there is an equal and opposite reaction’. Different propulsion systems generate different thrusts, but all thrusts will have some connection with Newton’s third law. On airplanes, thrust is usually generated through some application of Newton's third law of action and reaction.
Based on Application, Unmanned Aerial Vehicles segment held considerable market share during the forecast period due to the rising demand for UAV usage in diverse applications. UAVs are mounted with different types of engines in accordance with the required power to perform different operations. By geography, North America is expected to grow at a faster rate due to the rising number of military modernization programs in this region.
Some of the key players profiled in the Propulsion Systems include 3W International GmbH, Aerojet Rocketdyne Holdings, Inc. , Financial Highlights, General Electric Co., GKN Aerospace, Honeywell International Inc., Lockheed Martin Corporation, Northrop Grumman Corporation, Orbital ATK, Rolls-Royce Holdings PLC., Safran S.A, The Raytheon Company and United Technologies Corporation.
• Transcatheter Heart Valves
• Tissue Heart Valves
• Tactical Unmanned Aerial Vehicle
• Mini and Micro Unmanned Aerial Vehicle
• Medium-Altitude Long-Endurance Unmanned Aerial Vehicle
• Mechanical Heart Valves
• High-Altitude Long Endurance Unmanned Aerial Vehicle
• Electric Propulsion Engines
• Non-Air Breathing Engines
• Air-Breathing Engines
• Unmanned Aerial Vehicles
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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