The global thrust vector control system market is growing rapidly and is expected to maintain strong momentum through 2032. This growth is fueled by increasing demand across various industries, including aerospace, defense, and space exploration, with a promising annual growth rate projected for the coming years. Thrust vector control is deployed by missiles and aerial vehicles for navigation in three dimensions by using thrust created by engines. The requirement to create a more efficient yet better control system that offers improved maneuverability and decreases the consumption of fuel is surging the market growth.
Fortune Business Insights presents this information in their report titled “Thrust Vector Control System Market, 2024–2032.”
Informational Source:
https://www.fortunebusinessinsights.com/thrust-vector-control-system-market-108138
Major Players Profiled in the Report:
- Honeywell International Inc. (U.S.)
- BAE Systems (U.K.)
- Moog Inc. (U.S.)
- Northrop Grumann Corporation (U.S.)
- United Technologies Inc. (U.S.)
- Parker-Hannifin Corporation (U.S.)
- Woodward, Inc. (U.S.)
- Jansen Aircraft Systems Control Inc. (U.S.)
Segmentation:
In terms of mechanism, the market is divided into exhaust vanes, reactive fluid injection, thrusters, and gimbal nozzle.
By method, the market for thrust vector control system is classified into type IV, type I, type III, type I, and others.
With respect to end user, the market is bifurcated into space agencies and military.
By application, the market for thrust vector control system is categorized into satellites, military aircraft, space exploration vehicles, ballistic missiles, and others.
Regionally, the market is divided into the Asia Pacific, Europe, North America, and the rest of the world.
Report Coverage
The report provides an in-depth analysis of the key factors impacting the thrust vector control system market size. It further provides vital insights into the top trends, key industry developments, and the impact of the COVID-19 pandemic on the market expansion. The report also offers detailed insights into the competitive strategies deployed by top companies to outshine the competition.
Drivers:
Surging Demand in Space Exploration to Accelerate the Market Growth
One of the key factors impelling the thrust vector control system market growth is a rise in the demand in military sectors and space exploration. The market growth can also be ascribed to the surge in expenditure on space travel and exploration coupled with missile and aircraft procurement.
However, the capital needed for the development, production, and research of the products may impede the market growth.
Regional Insights:
North America Leads Owing to Huge Air Traffic
North America registers the largest thrust vector control system market share. This can be credited to the high air traffic coupled with military budgets by respective countries. The region also has a large number of independent players, which is driving the market growth.
The Asia Pacific market for thrust vector control system is poised to expand due to the surging defense budget by nations, including China, South Korea, and India, which are boosting research in the military sector. The regional growth can also be attributed to the growing air traffic and a surge in passenger traffic which is supporting the development of technology in the aviation sector.
Competitive Landscape:
Key Companies Focus on Partnership Deals to Strengthen Their Position
The thrust vector control system market is observing the deployment of different strategic initiatives, such as joint ventures, mergers & acquisitions, and capacity expansions to keep ahead of the competition. Partnership deals are also being focused on by leading companies to enhance their position in the market. Several companies are also emphasizing product development strategies to deliver enhanced solutions.
Key Industry Development
May 2023: The Science Applications International Corporation (SAIC) joined forces with GomSpace, a European company, to design small satellites for U.S. universities, commercial companies, and government bodies. These firms also unveiled a MoU to deliver spacecraft parts, software products, and completely integrated spacecraft.
November 2022: The People’s Liberation Army Air Force (PLAAF) announced the release of the J-20 aircraft’s 2D thrust vector technology at the Zhuhai Air Show. The F22 Raptor aircraft designed by Lockheed Martin Corporation deploys this system.