FREMONT, Calif., Jan. 28, 2022 /PRNewswire/ -- The global space-qualified propellant tank market is projected to reach $3.07 billion in terms of revenue by 2031, at a CAGR of 4.83%, reveals the premium market intelligence study by BIS Research.
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.
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.
The detailed study is a compilation of 57 Market Data Tables and 26 Figures spread through 136 Pages and in-depth TOC on "Space-qualified Propellant Tank Market – Analysis and Forecast, 2021-2031"
USP of the Report
This exclusive report on space-qualified propellent tank market will help you with:
Analyst's Take on the Market:
According to Nilopal Ojha, Lead Analyst, BIS Research, "The market for space-qualified propellant tanks is expected to reach new heights due to the rapid escalation of the production and launch of satellites in the market owing to the low-cost associated with their launch and development. As a result, key stakeholders are constantly looking to exploit next-generation propellant tanks in adherence with the existing and forthcoming industry standards for various end-user applications. Furthermore, xenon tanks are the required technology for next-generation space infrastructure. Hence, the market is expected to grow significantly during the forecast period 2021-2031."
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Key Companies Operating in the Market and Competitive Landscape
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.
Accordingly, a structured approach has been followed, which includes segmenting the pool of players under three mutually exclusive and collectively exhaustive parts, holding a 100% pie of the market, mentioned as follows:
Top Segment Players - These are leading original equipment manufacturers (OEMs), covering ~90% of the market.
Other Segment Players – These are component providers, covering ~10% of the market.
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