추진제 : 시장 점유율 분석, 업계 동향과 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the propellant market size was valued at USD 16.87 billion in 2025 and is estimated to grow from USD 17.86 billion in 2026 to reach USD 23.78 billion by 2031, at a CAGR of 5.89% during the forecast period (2026-2031).

Global Propellant Market Trends and Insights

Expansion of Commercial Launch and Satellite Constellation Programs

Commercial satellite constellations are increasing launch frequency and creating a more sustained demand base for the propellant market. Amazon Leo secured contracts for more than 100 launches and plans to exceed 20 missions in its second deployment year to meet Federal Communications Commission requirements. China's Guowang and Qianfan programs target more than 28,000 satellites combined, which has increased the need for launch services and related propellant supply. Launch providers also face greater pressure to secure storage, transport, and processing capacity close to launch sites. Higher launch cadence can make propellant resupply a limiting operational factor, particularly for heavy-lift systems that use large volumes of cryogenic fluids. This need favors suppliers that can integrate production and logistics with launch infrastructure.

Adoption of Reusable Launch Vehicles and Rapid-Turnaround Operations

Reusable launch vehicles can increase propellant throughput because each vehicle can support more frequent missions. SpaceX achieved a 9-day Falcon 9 booster turnaround in 2025, and its commercial operations used 20-30-day turnaround intervals as a regular operating pattern. SpaceX invested more than USD 15 billion in Starship by 2025 and announced a further minimum USD 1.8 billion investment in Florida launchpads, processing facilities, and propellant infrastructure. This investment shows how vehicle reuse can move spending toward high-capacity ground systems and dependable supply arrangements. Linde announced a USD 100 million liquid oxygen and nitrogen facility in Brownsville, Texas, to support Starbase operations. The propellant market, therefore, benefits not only from more launches but also from the infrastructure required to support short turnaround times.

High Qualification, Safety Testing, and Certification Costs

Energetic material qualification remains a durable cost barrier in the propellant market. New formulations usually require component testing, system integration validation, and flight heritage before commercial or government programs accept operational risk. The Advanced Spacecraft Energetic Non-Toxic program is targeting Technology Readiness Level 7 through the Green Propulsion Dual Mode mission after earlier work at the U.S. Air Force Research Laboratory. Safety testing also requires specialized facilities, trained personnel, exclusion zones, and extensive hazard documentation. Northrop Grumman and L3Harris Technologies, Inc. retain an advantage because their established qualification portfolios can reduce recertification requirements for new programs. Additive manufacturing entrants may use prior qualification data, but acceptance of 3D-printed propellant geometries remains technically and procedurally demanding.

Other drivers and restraints analyzed in the detailed report include:

1. Government-Funded Missile Modernization and Hypersonic Systems
2. Transition Toward Green and Lower-Toxicity Propellants
3. Cryogenic Infrastructure and Energetic-Material Supply Bottlenecks

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Liquid propellants held 44.13% of the propellant market share in 2025 because orbital launch vehicles require controllable thrust, restart capability, and high specific impulse. These characteristics support their use in upper stages and in-space propulsion, where mission control requirements are demanding. Solid propellants are used in first-stage boosters, tactical missiles, and airbag inflators. AVIO SPA and ArianeGroup introduced the P160C operationally on Ariane 64 in June 2026, and the booster set carries 156 metric tons of propellant. Aerosol propellants also support consumer goods and pharmaceutical applications, which gives the propellant market demand beyond launch and defense programs.

Hybrid propellants are projected to advance at a 6.73% CAGR through 2031. The National Aeronautics and Space Administration's Marshall Space Flight Center conducted more than 30 hot-fire tests of a 3D-printed hybrid rocket motor in 2025 for lunar landing plume studies. Firehawk Aerospace also completed a flight test of an additively manufactured Guided Multiple Launch Rocket System-class hybrid engine system under U.S. Army Applications Laboratory support. Ionic-liquid and hydrogen-peroxide-based systems can receive lower hazard classifications than hydrazine under U.S. Air Force Range Safety and Military Standard 882E requirements. Cold-gas, gas-generator, and pyrotechnic formulations continue to support attitude control, automotive safety, and industrial gas-generation uses.

Complete Report Scope:

• By Propellant Type
  • Liquid Propellants
  • Solid Propellants
  • Aerosol Propellants
  • Hybrid Propellants
  • Other Propellant Types (Cold-Gas Propellants, Gas-Generator and Pyrotechnic Propellants)
• By Application
  • Space Launch Vehicles
  • Missiles and Defense Systems
  • Satellite Propulsion
  • Automotive Airbags and Safety Systems
  • Aerosol Products
  • Other Applications (Industrial Gas Generators and Pyrotechnics)
• By End-Use Industry
  • Aerospace and Defense
  • Consumer Goods
  • Automotive
  • Other End-Use Industries (Industrial, Research, Mining and Energy)
• By Geography
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • ASEAN Countries
    • Rest of Asia-Pacific
  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • United Kingdom
    • France
    • Italy
    • NORDIC Countries
    • Russia
    • Rest of Europe
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle-East and Africa
    • Saudi Arabia
    • South Africa
    • Rest of Middle-East and Africa

Geography Analysis

North America held 38.27% of the propellant market share in 2025, supported by the United States defense budget and its high-frequency commercial launch ecosystem. Northrop Grumman plans to triple tactical solid rocket motor production capacity at the Allegany Ballistics Laboratory in West Virginia by 2027. SpaceX's USD 1.8 billion Florida expansion and Linde's USD 100 million Brownsville facility indicate the scale of launch-related infrastructure investment. Canada contributes through North Atlantic Treaty Organization commitments and aerospace activity focused on cleaner formulations. Mexico is an emerging downstream manufacturing location for the propellant market.

Asia-Pacific is projected to advance at a 6.87% CAGR through 2031, the highest regional growth rate in the propellant market. China completed 92 orbital launches in 2025 and is expanding commercial spaceport infrastructure at Hainan. The country expects 2 additional launch pads to become launch-capable by the end of 2026, which may increase liquid-propellant demand. China's Fifteenth Five-Year Plan for 2026-2030 identifies reusable heavy lift launch vehicles as a national development priority. India's private space sector is also expanding, with Astrobase Space Technologies unveiling a full-flow staged-combustion liquid oxygen-methane engine producing 800 kilonewtons of thrust.

Europe's propellant market is supported by the Ariane 6 program and its industrial ecosystem. Europropulsion, a 50-50 joint venture of ArianeGroup and AVIO SPA, qualified the P160C in December 2025 and introduced it operationally in June 2026. ArianeGroup is expanding Toulouse ammonium perchlorate capacity by more than 60% as launch rates rise. South America is associated with Brazil's commercial space plans and Argentina's defense modernization activity. The Middle-East and Africa are supported by Saudi Arabia's Vision 2030 aerospace investments and South Africa's defense industrial base.

1. ArianeGroup
2. AVIO SPA
3. Blue Origin Enterprises, L.P.
4. Busek Co. Inc.
5. Exotrail
6. IHI AEROSPACE Co., Ltd.
7. L3Harris Technologies, Inc.
8. Lockheed Martin Corporation
9. Moog Inc.
10. Nammo AS
11. Northrop Grumman
12. Safran S.A.
13. SpaceX
14. Ursa Major Technologies, Inc.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Expansion of Commercial Launch and Satellite Constellation Programs
  • 4.2.2 Adoption of Reusable Launch Vehicles and Rapid-Turnaround Operations
  • 4.2.3 Government-Funded Missile Modernization and Hypersonic Systems
  • 4.2.4 Transition Toward Green and Lower-Toxicity Propellants
  • 4.2.5 Responsive Spacecraft Maneuvering and In-Orbit Servicing
  • 4.2.6 Domestic Propulsion Capacity and Additive Manufacturing Investments
• 4.3 Market Restraints
  • 4.3.1 High Qualification, Safety Testing, and Certification Costs
  • 4.3.2 Cryogenic Infrastructure and Energetic-Material Supply Bottlenecks
  • 4.3.3 Export Controls and Technology-Transfer Restrictions
  • 4.3.4 Limited Flight Heritage and Material Compatibility of Alternative Propellants
• 4.4 Value Chain Analysis
• 4.5 Porter's Five Forces Analysis
  • 4.5.1 Threat of New Entrants
  • 4.5.2 Bargaining Power of Suppliers
  • 4.5.3 Bargaining Power of Buyers
  • 4.5.4 Threat of Substitutes
  • 4.5.5 Competitive Rivalry

5 Market Size and Growth Forecasts (Value)

• 5.1 By Propellant Type
  • 5.1.1 Liquid Propellants
  • 5.1.2 Solid Propellants
  • 5.1.3 Aerosol Propellants
  • 5.1.4 Hybrid Propellants
  • 5.1.5 Other Propellant Types (Cold-Gas Propellants, Gas-Generator and Pyrotechnic Propellants)
• 5.2 By Application
  • 5.2.1 Space Launch Vehicles
  • 5.2.2 Missiles and Defense Systems
  • 5.2.3 Satellite Propulsion
  • 5.2.4 Automotive Airbags and Safety Systems
  • 5.2.5 Aerosol Products
  • 5.2.6 Other Applications (Industrial Gas Generators and Pyrotechnics)
• 5.3 By End-Use Industry
  • 5.3.1 Aerospace and Defense
  • 5.3.2 Consumer Goods
  • 5.3.3 Automotive
  • 5.3.4 Other End-Use Industries (Industrial, Research, Mining and Energy)
• 5.4 By Geography
  • 5.4.1 Asia-Pacific
    • 5.4.1.1 China
    • 5.4.1.2 India
    • 5.4.1.3 Japan
    • 5.4.1.4 South Korea
    • 5.4.1.5 ASEAN Countries
    • 5.4.1.6 Rest of Asia-Pacific
  • 5.4.2 North America
    • 5.4.2.1 United States
    • 5.4.2.2 Canada
    • 5.4.2.3 Mexico
  • 5.4.3 Europe
    • 5.4.3.1 Germany
    • 5.4.3.2 United Kingdom
    • 5.4.3.3 France
    • 5.4.3.4 Italy
    • 5.4.3.5 NORDIC Countries
    • 5.4.3.6 Russia
    • 5.4.3.7 Rest of Europe
  • 5.4.4 South America
    • 5.4.4.1 Brazil
    • 5.4.4.2 Argentina
    • 5.4.4.3 Rest of South America
  • 5.4.5 Middle-East and Africa
    • 5.4.5.1 Saudi Arabia
    • 5.4.5.2 South Africa
    • 5.4.5.3 Rest of Middle-East and Africa

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share (%)/Ranking Analysis
• 6.4 Company Profiles (includes Global Overview, Market Overview, Core Segments, Financials as available, Strategic Information, Products and Services, and Recent Developments)
  • 6.4.1 ArianeGroup
  • 6.4.2 AVIO SPA
  • 6.4.3 Blue Origin Enterprises, L.P.
  • 6.4.4 Busek Co. Inc.
  • 6.4.5 Exotrail
  • 6.4.6 IHI AEROSPACE Co., Ltd.
  • 6.4.7 L3Harris Technologies, Inc.
  • 6.4.8 Lockheed Martin Corporation
  • 6.4.9 Moog Inc.
  • 6.4.10 Nammo AS
  • 6.4.11 Northrop Grumman
  • 6.4.12 Safran S.A.
  • 6.4.13 SpaceX
  • 6.4.14 Ursa Major Technologies, Inc.

7 Market Opportunities and Future Outlook

• 7.1 White-Space and Unmet-Need Assessment