Dublin, Jan. 21, 2026 (GLOBE NEWSWIRE) — The “Propulsion Systems Global Market Opportunities and Strategies to 2034” has been added to ResearchAndMarkets.com’s offering.
The propulsion systems market is forecasted to experience dynamic growth from 2024 to 2034, marked by robust expansion across multiple regions and applications. During the historic period from 2019 to 2024, the market expanded at a compound annual growth rate (CAGR) of 3.97%, reaching nearly $133.09 billion. It is projected to grow at a 7.65% CAGR, reaching $192.42 billion in 2029, and further expanding at a 6.73% CAGR to reach $266.43 billion by 2034. This growth is driven by increased investments in aerospace and defense, the rising popularity of unmanned aerial vehicles (UAVs), and space exploration initiatives.
North America dominated the propulsion systems market in 2024, accounting for 38.35% or $51.03 billion of the total market. The region is followed closely by Asia Pacific and Western Europe. Asia Pacific and South America are set to emerge as the fastest-growing regions, with projected CAGRs of 9.03% and 8.78%, respectively. Western Europe and the Middle East will also see substantial gains, with growth rates of 8.73% and 8.31% respectively.
The competitive landscape of the global propulsion systems market is heavily concentrated, with major players like Safran S.A., General Electric (GE Aerospace/CFM International), and Raytheon Technologies leading the pack, contributing significantly to the market share. In 2024, the top ten competitors accounted for approximately 60.20% of the market, demonstrating a high concentration of market power.
The market is segmented by type, with air breathing propulsion systems taking the lead at $96.81 billion, representing 72.74% of the total in 2024. Moving forward, non-air breathing systems are anticipated to grow rapidly, at a CAGR of 9.02% from 2024 to 2029. When segmented by application, the airplanes sector was the largest, accounting for 52.90% or $70.4 billion in 2024, while the UAV segment is set to expand at a robust 11.77% CAGR during the same period.
By end-user, the commercial segment dominated with 58.55% or $77.92 billion of the market in 2024, although government and military applications are expected to grow the fastest at a CAGR of 8.34% from 2024 to 2029. Key strategic opportunities lie in the air breathing and commercial segments, set to gain significant value by 2029.
Emerging trends emphasize the development of electric propulsion systems, green technologies, and strategic investments to propel next-generation technologies. Companies are advised to pursue strategies focused on advancing electric propulsion, scaling green propulsion technologies, optimizing high-efficiency electric motors, and tapping into non-air breathing propulsion for growth.
Strategic partnerships, competitive pricing, and data-driven marketing campaigns are crucial for tapping regional opportunities and capturing market share. The market is poised to benefit from investments in UAV technologies for significant growth returns, particularly in government and military applications.
Key Report Features:
- Introduction and Market – Overview of market segmentations by type, application, and end-user.
- Key Trends – Identification of major trends and future developments.
- Growth and Strategic Analysis Framework – Detailed market analysis, including PESTEL, growth rates, and forecasts.
- Regional and Country Analysis – Breakdown of historical and projected market values by region and country.
- Market Segmentation – Detailed segment analysis for the period 2019-2034.
- Competitive Landscape – Insights on market share and company profiles of industry leaders.
- Other Major and Innovative Companies – Profiles of notable players in the market.
- Competitive Benchmarking – Financial comparisons between key market players.
- Key Mergers and Acquisitions – Recent M&A activity with financial details.
- Market Opportunities and Strategies – Exploration of potential growth opportunities and strategies.
- Conclusions and Recommendations – Strategic advice for market participants on future actions.
- Companies Highlighted:Safran S.A.; General Electric (GE Aerospace/CFM International); Raytheon Technologies; Rolls-Royce Holdings plc; Northrop Grumman Corporation.
Markets Covered:
- By Type: Air Breathing; Non-Air Breathing
- By Application: Airplanes; Missiles; Unmanned Aerial Vehicles; Spacecraft
- By End-User: Commercial; Government and Military
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 316 |
| Forecast Period | 2024 – 2034 |
| Estimated Market Value (USD) in 2024 | $133.09 Billion |
| Forecasted Market Value (USD) by 2034 | $266.43 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
Companies Featured
- Safran S.A.
- General Electric (GE Aerospace/CFM International)
- Raytheon Technologies
- Rolls-Royce Holdings plc
- Northrop Grumman Corporation
- L3Harris Technologies Inc.
- Space Exploration Technologies Corp. (SpaceX)
- IHI Corporation
- Thales Group
- Moog Inc.
- Neumann Space
- Manastu Space
- Exotrail
- Aerospace Science and Technology Corporation (CASC)
- Aero Engine Corporation of China (AECC)
- Xi’an Aero-Engine Corporation (XAEC)
- AVIC Engine Corporation
- Nidec Corporation
- Mitsubishi Heavy Industries, Ltd. (MHI)
- AeroEdge Co., Ltd.
- Hanwha Aerospace Co., Ltd.
- Korea Aerospace Industries Ltd. (KAI)
- LIG Nex1 Co., Ltd.
- Enpulsion
- Ascendance Flight Technologies
- EXOES
- ION-X
- Safran S.A.
- HyImpulse
- Arkadia Space
- ArianeGroup
- Sener Aerospace and Defense
- Airbus Defence and Space S.A.U.
- Rolls-Royce Holdings plc
- Reaction Engines Limited
- BAE Systems plc
- Liftero
- PBS Velka Bites, a.s.
- Turbomecanica S.A.
- Avio Aero
- Maeve
- Bellatrix Aerospace
- ZeroAvia
- Karman Space and Defense
- Pratt and Whitney
- Magellan Aerospace
- Space Engine Systems
- NordSpace
- Lockheed Martin
- Honeywell Aerospace
- Boeing
- Aerojet Rocketdyne
- Sierra Nevada Corporation
- LIA Aerospace
- Embraer
- WEG S.A.
- INVAP
- MWM International Motores
- Schottel do Brasil
- Aeronautics
- Propulsion Company (MEPC)
- EDGE Group
- Strata Manufacturing
- Advanced Electronics Company (AEC)
- Denel Dynamics
- NewSpace Systems
For more information about this report visit https://www.researchandmarkets.com/r/xwgqyl
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- Propulsion Systems Market
