PUNE, India, May 17, 2017 /PRNewswire/ --
The report "Thrust Vector Control Market by Technology (Gimbal Nozzle, Flex Nozzle, Thrusters, Rotating Nozzle), Application (Launch Vehicles, Missiles, Satellites & Fighter Aircraft), System (Actuation, Injection & Thruster), and Region - Global Forecast to 2022", published by MarketsandMarkets™ , the market is projected to grow from USD 8.39 Billion in 2017 to USD 13.77 Billion by 2022, at a CAGR of 10.41% during the forecast period. The base year considered for the study is 2016, and the forecast period is from 2017 to 2022.
Browse 83 market data Tables and 43 Figures spread through 147 Pages and in-depth TOC on "Thrust Vector Control Market"
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The need for super-maneuverable fighter aircraft, increased space research leading to greater number of launch vehicles being used, and increase in satellite launches are driving the growth of the thrust vector control market. Furthermore, due to geopolitical unrest, arms race, and asymmetric warfare, there is a significant increase in the production of missiles, which is directly impacting the growth of the thrust vector control market.
Based on technology, rotating nozzle is projected to be the fastest-growing segment of the thrust vector control market during the forecast period.
Rotating nozzle is expected to be the fastest-growing segment of the market during the forecast period because of the rise in the acquisition of fighter aircraft with thrust vector control systems. Rotating nozzle is the preferred technology used in fighter aircraft for thrust augmentation because it can deflect thrust as much as 90 degrees relative to aircraft centerline.
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Based on application, the fighter aircraft segment is projected to witness the highest growth from 2017 to 2022.
The fighter aircraft segment is projected to witness the highest growth during the forecast period. This is due to the increase in the production and procurement of super maneuverable fighter aircraft across the globe to have superiority over enemy aircraft during aerial combats.
North America is estimated to be the largest market for thrust vector market in 2016.
The thrust vector control market in North America is expected to witness the highest growth during the forecast period, owing to the increase in R&D and procurement of super maneuverable fighter aircraft, increased space research leading to greater number of launch vehicles being used, and increase in satellite launches.
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Key players operating in the thrust vector control market include Honeywell International, Inc. (U.S.), Moog, Inc. (U.S.), Woodward, Inc. (U.S.), Jansen Aircraft Systems Control, Inc. (U.S.), BAE Systems (U.K.), Wickman Spacecraft & Propulsion Company (U.S.), Parker Hannifin, Inc. (U.S.), Sierra Nevada Corporation (U.S.), Dynetics, Inc. (U.S.), and SABCA (Belgium). These companies have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, and Asia-Pacific.
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