A rocket can be aircraft, spacecraft, missile, or a vehicle which generates thrust. Thrust is generated by propulsion system of the rocket. Rocket engines use three states of propellants: solid, liquid, and hybrid (combination of solid and liquid propellants). Solid rocket engines use solid fuels, generates high thrust, and are more reliable than other propulsion systems. Moreover, solid propulsion systems are easier to store & handle as compared to liquid propulsion system. Such features added with low maintenance costs makes solid propulsion rockets ideal for defense forces. In addition, solid propulsion system’s capability of generating high thrust enables rockets to carry higher payloads in comparison to other propulsion systems.

COVID-19 Scenario analysis:

Due to COVID-19 situation, the research & development in solid propellants of rocket has been hampered due to the declared lockdowns and government restrictions on public gatherings.
Slowing sign in economies of several countries has been observed due to COVID-19 effect, which may limit governments investment in their space organizations. Such reduction in investment will directly affect the growth in rocket solid propulsion market.
Travel restrictions and reduction in military activities due to COVID-19 has also adversely effected growth of rocket propulsion market, as rocket propulsion system is also used in seat ejection in aircraft, fireworks, etc.
There will be a considerable rise in demand in rocket solid propulsion market in near future as travel restrictions start to loosen up across the globe.

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Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Rise in demand for rocket propulsion owing to increase in number of space expeditions, high efficiency & technological advancements in rocket solid propulsion, and rise in commercial applications of the space industry are some of the major factors that drive the growth of the rocket solid propulsion system market. However, political insurgencies between nations and lack of measures for disposal of orbital debris restrain the growth of the global rocket solid propulsion system market. On the contrary, the introduction of space tourism and maturing technology of reusable rockets are expected to further boost the demand for rocket solid propulsion in the future.

Political insurgencies between nations
Several countries depend upon the other countries to carry out their certain space projects. For instance, USA was dependent on RD160 engines which are made by Russian company Energomash, until the political insurgency took place with Russia in 2014 over the issue of Crimea. As a result, the market share of Energomash has dropped significantly after losing USA from its client base. Hence, such political insurgencies between nations hampers the growth of the rocket solid propulsion system market.

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Key benefits of the report:

This study presents the analytical depiction of the global rocket solid propulsion industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of global rocket solid propulsion market share.
The current market is quantitatively analyzed to highlight the global rocket solid propulsion market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global rocket solid propulsion market analysis based on competitive intensity and how the competition will take shape in coming years.

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