Space-qualified Propellant Tank Market Anticipated to Reach at $XXXX.XX Million till 2031 | [BIS Research Report]


Posted May 12, 2022 by harshbisR-0

As per the BIS Research analysis, the global space-qualified propellant tank market is expected to reach $3,069.5 million by 2031, with a CAGR of 4.83% during the forecast period 2021-2031.

 
As per the BIS research analysis, the global space-qualified propellant tank market is expected to reach $3,069.5 million by 2031, with a CAGR of 4.83% during the forecast period 2021-2031. The rapid escalation of the production and launch of satellites is expected to be the major driving factor for the market. In addition, rising demand for building efficient propellant tanks at low cost are key drivers for the growth of the global space-qualified propellant tank market.

Propellant tanks are used in satellites and launch vehicles for storing liquid fuels. Additionally, a cryogenic rocket propellant tank (cryo-tank) is used for storing fuel or oxidizer of rocket stages. The upcoming space heavy lift launch vehicles demand extremely excessive propellant mass fractions to obtain the designed performance set by the existing metallic tanks. This is driving companies to develop lightweight propellant tanks.

Between 1957 and 2021, many governments and commercial organizations such as Infinite Composite Technologies, Ariane Space, Europe Space Agency (ESA), National Aeronautics and Space Administration (NASA), and Japan Aerospace Exploration Agency (JAXA), started demonstrations for new propellant tank for different satellites and launch vehicles. Since then, the technology has evolved continually and transformed the entire space industry by developing unique products and systems.

Currently, many space agencies and commercial companies across the globe have been focusing on developing satellite constellations. This is expected to drive the market for the propellant tank system.
Market Segmentation of Space-qualified Propellant Tank Market

Space-qualified Propellant Tank Market by Platform

The satellite platform segment is estimated to dominate the global space-qualified propellant tank market due to the rising development of satellite constellations for communication, Earth observation, navigation, and tracking purposes.

Space-qualified Propellant Tank Market by End User

The commercial end user segment is estimated to dominate the global space-qualified propellant tank market due to the rising development of small satellite constellations for communication, remote sensing, Earth observation, and navigation by commercial industries.

Space-qualified Propellant Tank Market by Material

Carbon Fiber material is the most prominent material contributing to the global space-qualified propellant tank market. The space industry has been using carbon fiber composites for manufacturing satellite structures and launch vehicle structures. For instance, for NASA’s Artemis Program Space Launch System (SLS), a heavy launch vehicle, rocket parts were manufactured using the automated fiber placement (AFP) machine. These rocket parts comprised sandwich structures of more than eight meters in diameter made of carbon fiber skins with an aluminum honeycomb core.

Space-qualified Propellant Tank Market by Manufacturing Process

Space will continue to be a major source of applications for compression molded composite parts. Compression molding using BMC is an enabling technology for the fabrication of complex composite parts for aerostructures, space, and satellites.

Space-qualified Propellant Tank Market by Propellant Tank Type

With the growing number of space-qualified propellant tanks, it is anticipated that the requirement for diaphragm tanks will grow in the upcoming years. The tanks are light in weight, reliable, and manufactured at low cost, which has proliferated their use in the aerospace sector over the years. The tanks are replacing titanium propellant tanks that were previously used for spacecraft application due to low cost and simple design.

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Factors Driving the Growth of the Space-qualified Propellant Tank Market:

Factors driving the growth of the space-qualified propellant tank market are a rapid escalation of the production and launch of satellites, and rising research and development activities to develop cost-efficient propellant tanks for satellites and launch vehicles.

Space-qualified Propellant Tank Market by Region

North America is expected to account for the highest share of the global space-qualified propellant tank market, owing to a significant number of companies based in the region, increased spending by government and commercial organizations such as the National Aeronautics and Space Administration (NASA), Lockheed Martin, Ariane Group, Northrop Grumman, Microcosm, and Stelia Aerospace North America for space-qualified propellant tank.

Key Market Players

Some of the key players operating in the market include Airbus S.A.S, Adam Works, Ariane Group, CU Aerospace, Northrop Grumman Corporation, Nammo AS, OHB SE, Peak Technology, and Stelia Aerospace North America Inc., among others.

Key Questions Answered in the Report

• What are the futuristic trends in this market, and how is the market expected to change over the forecast years, 2021-2031?
• What are the key drivers and challenges faced by the companies currently working in the global space-qualified propellant tank market?
• How is the space-qualified propellant tank market expected to grow during the forecast period 2021-2031?
• What are the opportunities for the companies to expand their businesses in the global space-qualified propellant tank market?
• Which region is expected to lead the global space-qualified propellant tank market by 2031?
• What are the key developmental strategies implemented by the key players to sustain in this highly competitive market?
• What is the current and future revenue scenario of this market?
• What is the competitive scenario of the key players in the global space-qualified propellant tank market?
• What are the emerging technologies that the key companies are focusing on to increase their market share?
• What are the strengths and weaknesses of the companies that are influencing the growth of the market?

About BIS Research:

BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.

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Issued By Harsh Singla
Country United States
Categories Aerospace , Research , Technology
Tags space qualified propellant tank , Space-qualified Propellant Tank Market , Space-qualified Propellant Tank Industry , Space-qualified Propellant Tank Report , market analysis , market report , market research , market research report
Last Updated May 12, 2022