Solid Rocket Engine Market Revenue and Forecast by 2033

18 Sep 2025

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Table of Content

1. Solid Rocket Engine Market Revenue and Trends 2025 to 2033 2. Key Factors Driving the Growth of the Solid Rocket Engine Market 3. Segmental Analysis  4. Regional Analysis 5. Solid Rocket Engine Market Coverage 6. Solid Rocket Engine Market Companies

Solid Rocket Engine Market Revenue and Trends 2025 to 2033

The global solid rocket engine market is driven by rising space exploration, defense modernization, and demand for reliable propulsion systems across industries. The global solid rocket engine market is expanding, driven by defense modernization, space launch demand, and advancements in composite propellants and manufacturing technologies.

Key Factors Driving the Growth of the Solid Rocket Engine Market

The solid rocket engine market refers to propulsion systems consisting of solid propellants that create thrust, and solid Rocket engine markets are employed in missiles, space launch vehicles, and defense programs. The growth of the market is primarily driven by increasing global investments in space exploration, satellites, and military modernization efforts.

Increased worldwide tensions and subsequent military expenditures lead to more rapid development of missile systems, which will help grow the market overall as well. New propellant formulations and motor developments will further improve propulsion performance and efficiencies. Growth in satellite deployment for communication, navigation, and earth observation is fueling demand for solid rocket propulsion systems, contributing to market growth.

Segmental Analysis 

• By platform, missiles are the primary rocket platform since they offer superior reliability, trustworthiness, emergent density, quick readiness, and a track record of use in tactical range and long-range strategic ranges.
• By propellant type, the composite propellant segment dominated the market in 2024 because of its excellent specific impulse, mechanical durability, casting convenience, and thermal stability to support the increasing use of market in many modern military applications, and use in orbit market for space programs.
• By thrust / size class, medium and large feature highly favored thrust and size for the average impulse, resulting in effectively higher burn time, overall output, and payload capacity for extended-range missiles and NASA booster marketapplications.
• By end-use, the government & defense segment dominated the market in 2024, as these agencies drive most market-related programs and utilize procurement funds to comply with national security obligations, acquire contract guarantees, adhere to strict qualification and eligibility requirements, and present long-term budgets and durability among the broad base of eligible options in market.
• By manufacturing model, the OEM defense primes segment dominated the market in 2024 because they ensure lifecycle support, provide high-quality assurance, supply chain integration, and secure long-term guaranteed contracts with the defense agencies.

Regional Analysis

North America dominated the solid rocket engine market in 2024, driven by large defense procurements, experienced prime contractors, and the rapid expansion of capabilities for tactical and missile systems. The sustained demand is driven by significant investments by the U.S. government to diversify suppliers and replenish munitions inventories. The lifecycle management and production of space-launch and commercial suborbital programs produce complementary market demand across government agencies and private industries.

The Asia Pacific is the fastest-growing region, driven by expanding space programs, rising defense budgets, and the development of indigenous missile systems by countries such as China, India, Japan, and South Korea. Expanding satellite launches, regional modernization programs, and growing domestic industrial manufacturing will create a large and expanding opportunity for local suppliers and international partners, which will rapidly accelerate market production and technology transfer.

Solid Rocket Engine Market Coverage

Recent Developments

• In March 2025, U.S.-based space technology 3D printing firm X-Bow Launch Systems signed a contract modification with the U.S. Department of Defense (DoD), valued at US$9.85 million, to develop solid rocket Engine  propellant using 3D printing.  (Source: https://3dprintingindustry.com)

Solid Rocket Engine Market Companies

• Northrop Grumman 
• L3Harris Technologies 
• Aerojet Rocketdyne 
• Nammo 
• Lockheed Martin 
• Raytheon Technologies (Raytheon Missiles & Defense) 
• BAE Systems 
• MBDA 
• Avio 
• Roketsan 
• Avibras 
• Mitsubishi Heavy Industries (MHI) 
• CASIC (China Aerospace Science & Industry Corporation) 
• Ursa Major Technologies 
• Anduril Industries 
• General Dynamics (relevant subsidiaries/partners)

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