Hybrid Propellants Market - Global Industry Analysis, Size, Share, Trends, Growth, and Forecast 2017 - 2025
- Transparency Market Research
A hybrid propellant is a form of chemical rocket propellant wherein the fuel and oxidizer are in different physical states. One of the substances is solid, usually the fuel, while the other, usually the oxidizer, is liquid. The liquid is injected into the solid, whose fuel reservoir also serves as the combustion chamber. Hybrid rocket propellants are environmentally safer than solid rocket fuels, as some solid rocket propellants contain chlorine. The products of combustion are environmentally viable. This is one of the major advantages of hybrid propellants compared to solid and liquid propellants. Hybrids combine some of the advantages of liquids and solids and also exhibit unique advantages. The most important is the inherent safety associated with storing the fuel in the solid phase. Hybrid propellants offer many advantages. They are cheaper, can be shut down easily, throttle control, and are much safer to handle. Fuel used in hybrid propellants can be fabricated at any conventional commercial site with no danger of explosion. Thus, significant cost saving can be achieved in the manufacture and launch operations.
Considerable developments have taken place in the hybrid propellants market. This has made the rocket propulsion technology extremely powerful. It has also enabled the launching of various orbiting satellites, missiles, and spacecraft. Hybrid propellant is a material used by a rocket so as to produce in a chemical reaction to provide spacecraft propulsion. Hybrid propellants provide the energy to accelerate the resulting gases through the nozzle. Hybrid propulsion is well suited to applications or missions requiring throttling, command shutdown and restart, and long-duration missions requiring storable nontoxic propellants. The propellant system of choice for large hybrid booster applications is liquid oxygen (LOX) oxidizer and HTPB fuel. Liquid oxygen is a widely used oxidizer in the space launch industry, is relatively safe, and delivers high performance at low cost. This hybrid propellant combination produces a nontoxic, relatively smoke-free exhaust.
Advancements in space technology and rocket sciences is the primary factor driving the hybrid propellants market. The hybrid propellants market is also expected to expand at a significant pace during the forecast period. The space industry is becoming more dynamic and the reach of this technology is no longer limited to the U.S., Russia, and some countries in Europe. Developing countries such as India have achieved significant growth in the field of the space technology. This acts as a driver of the hybrid propellants market. Various research labs and institutes are also focused on the development of hybrid propellants that offer high performance, efficiency, and safety. For the hybrid propellants, advancements in the technology are coming into picture as a result of the dedicated research of scientists from across the world.
Based on geography, the market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is the dominant region of the global hybrid propellants market due to the highly advanced technology in space programs and orbital launches. Among all regions, countries such as the U.S., China, Russia, Japan, the U.K., India, and Germany are getting more active in space programs and orbital launches. The market in Asia Pacific is also anticipated to expand during the forecast period, as developing countries such as India are emerging as significant players in the space industry. Other countries are also projected to follow similar growth path, thereby resulting in significant demand for hybrid propellants.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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