Propulsion Systems Market to Exceed USD 337.7 Bn by 2021, Predicts M&M in Its In-demand Report Recently Uploaded at MarketPublishers.com08 Dec 2016 • by Natalie Aster
LONDON – Driven by a range of factors, including the rising number of deliveries by aircraft, increasing number of space expeditions, modernization of airborne and unmanned aerial vehicles, amid others, the world’s propulsion systems market is anticipated to exceed USD 337.7 billion by the year 2021, growing at a 6.66% GAGR from 2016 up to 2021. However, there are a range of stringent airspace norms and regulations, which could hamper further market growth.
On the basis of propulsion systems types, the electric propulsion sector is anticipated to rise at the highest CAGR through 2021, encouraged by the rising adoption of electric propulsion in satellites, spacecraft and telecommunication satellites in both developed and developing countries.
On the basis of applications, the aircraft sector is likely to hold the top position in the overall market. Robust increase of international tourism, escalating number of commercial aviation operations, increasing air passenger traffic and rising budget allocations will likely spur further growth in this sector during 2016-2021.
While North America is likely to dominate the world propulsion systems market, possessing the major share through 2021, the APAC region is set to show the highest CAGR. Growth of the propulsion systems market in the North American region is significantly boosted by the presence of a great number of original equipment manufacturers (OEMs) and original component manufacturers (OCMs) as well as by technological modernization of the existing equipment in the region.
Some of top companies in the world’s propulsion systems market comprise General Electric Company, Safran S.A., Rolls-Royce Holding, Honeywell International, Orbital ATK, to name only some of them.
Insightful research report “Propulsion Systems Market by type, Application, and Region - Global Forecast to 2021” by MarketsandMarkets (M&M) is a great source of reliable data on the worldwide propulsion systems market, drawing a clear picture of the current scenario in various country-wide and regional markets. The report provides details on the market size and segmentation, and presents a comprehensive market assessment based on types, applications and geography. The publication delves into competitive landscape and reviews key market participants. Companies’ profiles, SWOT analyses, data on the recent developments, manufacturing capabilities and key market strategies are available here. This research report explores the market dynamics and traces emerging trends, scrutinizes the market growth drivers as well as restraints and challenges. Historical statistics for 2014-2015 and future forecasts up till 2021 are at hand in the report.
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