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.
Read Report Overview: Space-qualified Propellant Tank Market
Between 1957 and 2021, many governments and commercial organizations such as Infinite Composite Technologies, Ariane Space, Europe Space Agency (ESA), National Aeronautics and Space Administration (NASA), and Japan Aerospace Exploration Agency (JAXA), started demonstrations for new propellant tank for different satellites and launch vehicles. Since then, the technology has evolved continually and transformed the entire space industry by developing unique products and systems.
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.
Space-qualified Propellant Tank Industry Overview
The global space-qualified propellant tank market is expected to reach $3,069.5 million by 2031, with a CAGR of 4.83% during the forecast period 2021-2031. The rapid escalation of the production and launch of satellites is expected to be the major driving factor for the market. In addition, rising demand for building efficient propellant tanks at low cost are key drivers for the growth of the global space-qualified propellant tank market.
Space-qualified Propellant Tank Market by Propellant Tank Type
With the growing number of space-qualified propellant tanks, it is anticipated that the requirement for diaphragm tanks will grow in the upcoming years. The tanks are light in weight, reliable, and manufactured at low cost, which has proliferated their use in the aerospace sector over the years. The tanks are replacing titanium propellant tanks that were previously used for spacecraft application due to low cost and simple design.
Space-qualified Propellant Tank Market by Region
North America is expected to account for the highest share of the global space-qualified propellant tank market, owing to a significant number of companies based in the region, increased spending by government and commercial organizations such as the National Aeronautics and Space Administration (NASA), Lockheed Martin, Ariane Group, Northrop Grumman, Microcosm, and Stelia Aerospace North America for space-qualified propellant tank.
Competitive Landscape
The competitive landscape of the space-qualified propellant tank market consists of several organic and inorganic strategies followed by the key players to increase their market share. The strategies include product innovations, contracts, partnerships, acquisitions, and business expansions, among others.
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Some of the key players in the global space-qualified propellant tank market include Airbus S.A.S, Lockheed Martin, Ariane Group, Northrop Grumman, and Moog Inc. These companies are aiming for a wide range of partnerships, collaborations, agreements, and contracts to expand their operations and increase their market presence globally to generate revenues and attract new customers.
The research report includes specific segments by region (country), by company, by Type and by Application.
This study provides information about the sales and revenue during the historic and forecasted period of 2015 to 2026.
Understanding the segments helps in identifying the importance of different factors that aid the market growth.Download FREE Sample of this Report @ https://www.24chemicalresearch.com/download-sample/61497/global-spacequalified-cover-glass-2020-968Segment by Type, the Space-Qualified Cover Glass market is segmented into:CMXCMGCMOSegment by Application:Solar PanelOthersGlobal Space-Qualified Cover Glass Market: Regional AnalysisThe Space-Qualified Cover Glass market is analysed and market size information is provided by regions (countries).
The report includes country-wise and region-wise market size for the period 2015-2026.
It also includes market size and forecast by Type and by Application segment in terms of sales and revenue for the period 2015-2026.The key regions covered in the Space-Qualified Cover Glass market report are:North AmericaU.S.CanadaEuropeGermanyFranceU.K.ItalyRussiaAsia-PacificChinaJapanSouth KoreaIndiaAustraliaTaiwanIndonesiaThailandMalaysiaPhilippinesVietnamLatin AmericaMexicoBrazilArgentinaMiddle East & AfricaTurkeySaudi ArabiaU.A.EGlobal Space-Qualified Cover Glass Market: Competitive AnalysisThis section of the report identifies various key manufacturers of the market.
It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market.
NASA’s Robotic Refueling Mission 3 (RRM3) completed an initial set of tool operations designed by the Satellite Servicing Projects Division, making the idea of using water ice, oxygen or methane from other worlds as fuel for spacecraft seem plausible.
The ability to store and transfer cryogenic fuels will help enable interstellar voyages in the far future.
Currently, any spacecraft to far away destinations such as the Moon and Mars must carry all of its propellants with it from launch to termination.
NASA had to learn about this the hard way in April when a hardware issue during a Refueling Mission caused the cryogenic tanks to heat up unexpectedly and the gas had to be released.
“NASA’s proven experience and unique facilities are helping commercial companies mature their technologies at a competitive pace,” Jim Reuter, associate administrator of NASA’s Space Technology Mission Directorate (STMD) said in a NASA statement.
“We’ve identified technology areas NASA needs for future missions, and these public-private partnerships will accelerate their development so we can implement them faster.”
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