Global Space-Qualified Propellant Tank Market To Grow At A CAGR Of 5.02% During 2020 2030.

(MENAFN- Straits Research) Satellites and launch vehicles employ propellant tanks to store liquid fuels. In addition, a cryogenic rocket propellant tank (cryo-tank) is utilised to store rocket stages' fuel or oxidizer.
Future space heavy-lift launch vehicles necessitate incredibly high propellant mass fractions to achieve the planned performance of present metallic tanks. This is leading to the development of lightweight propellant tanks by corporations.
Between 1957 and 2021, numerous governments and commercial organisations, including Infinite Composite Technologies, Ariane Space, the Europe Space Agency (ESA), the National Aeronautics and Space Administration (NASA), and the Japan Aerospace Exploration Agency (JAXA), conducted demonstrations of new propellant tanks for various satellites and launch vehicles. Since then, technology has continuously evolved and revolutionised the entire space sector through the development of novel goods and systems.
Globally, numerous space organisations and corporations are currently concentrating on the development of satellite constellations. This is projected to drive the propellant tank system market.
Rapid Escalation of the Production and Launch of Satellites
In recent years, the manufacturing and launch of satellites have expanded dramatically, which is anticipated to be the market's primary driving force.
In addition, the increased demand for efficient, low-cost propellant tank construction is a key growth driver for the space-qualified propellant tank market.
Market Dynamics
Rising Research and Development Activities
Both developed and emerging nations are intensifying their research and development efforts toward the space-qualified propellant tank. This trend is observable in both developed and developing countries. It is projected that these types of research and development projects will aid in the creation of cost-effective propellant tanks for satellites, hence driving the market expansion throughout the forecast period.
High Cost Associated with Large Space-qualified Propellant Tank
Large space-qualified propellant tanks are expensive; as a result, expanding and developing economies in Asia, the Middle East, and Africa are experiencing market difficulties.
However, the government is now taking action, which will improve the situation during the anticipated time period.
Growing Developments for Deep Space Exploration Programs
Innovations initially created for space spacecraft, including artificial muscle systems, robotic sensors, diamond-joint coatings, and temper foam, improve the functionality, durability, comfort, and realism of artificial human limbs.
In addition, the Artemis programme of NASA seeks to put a second man and the first woman on the moon by 2024 and to develop sustainable space travel by 2028. The Artemis programme is a precursor to NASA's ultimate objective of landing on Mars.
These types of developments are offering chances for the expansion of the market for space-qualified propellant tanks over the forecast period.
Regional analysis
The market is split by region into North America, Europe, Asia-Pacific, and LAMEA.
North America is anticipated to account for the largest share of the global market for space-qualified propellant tanks, owing to the region's high concentration of companies and increased spending by government and commercial organisations such as the National Aeronautics and Space Administration (NASA), Lockheed Martin, Ariane Group, Northrop Grumman, Microcosm, and Stelia Aerospace North America.
Key Highlights

The global space-qualified propellant tank market was valued at USD 1.95 billion in 2021 and is projected to reach USD 3.04 billion by 2030, registering a CAGR of 5.02% from 2022 to 2030.
The satellite platform segment is estimated to dominate the global space-qualified propellant tank market
North America is dominating the global market and is expected to do the same during the forecast period

Competitive players
Airbus S.A.S, Adam Works, Ariane Group, Busek Co Inc., Cobham Mission System, Infinite Composites Technologies, IHI Aerospace Co., Lockheed Martin Corporation, Microcosm, Inc., Moog Inc., OHB SE, Northrop Grumman Corporation, Nammo AS, Peak Technology, Stelia Aerospace North America Inc.
Recent Developments by key players
Xenon tanks are necessary for space infrastructure of the next generation. Consequently, the market is anticipated to expand significantly between 2021 and 2031.
The various market participants have implemented a number of strategies, including the launch of new products and the expansion of their businesses, in order to remain competitive.
Market Segmentation
Platform: Satellite, Launch Vehicles
End-User: Government and Military, Commercial
Material: Carbon Fiber, Aluminium and Titanium Alloys, Thermoset and Thermoplastic, Nanomaterials, Others
Manufacturing
Process: Automated Fiber Placement (ATL/AFP), Compression Moulding, Additive Manufacturing, Conventional Manufacturing, Others
Propellant
Tank
Type: Diaphragm Tanks, Propellant Management Devices, Helium, Nitrogen, and Xenon Tanks, Aluminium Alloy Tanks
Regional Segmentation

North America- U.S., and Canada
Europe- Germany, France, U.K., Spain, Italy, Switzerland, and Rest-of-Europe
Asia-Pacific- China, Japan, India, Australia, South Korea, Singapore, and Rest-of-Asia-Pacific
Latin America- Brazil, Mexico, and Rest-of-Latin America

Rest-of-the-World

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