Research and Markets - Thrust Vector Control Market to Reach $13.77 Billion by 2022 - Key Players are Honeywell, Moog, Woodward, Jansen Aircraft Systems Control, BAE Systems, Wickman, Parker Hannifin, Dynetics & SABCA
The thrust vector control 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% from 2017 to 2022. Increased adoption of thrust vector control in next-generation guided missile systems especially in intercontinental ballistic missile and long-range missiles, increasing investments in space exploration programs and satellites launches, and growth in production and acquisition of super maneuverable fighter aircraft are driving the growth of the thrust vector control market.
Based on technology, the flex nozzle market segment is estimated to lead the market during the forecast period. The growth of this segment can be attributed to the increased implementation in satellite launchers and missiles, which require guidance or steering to fly along a programmed trajectory.
Based on end user, the space agencies segment is projected to witness the highest growth from period 2017 to 2022. With increase in the number of satellites being launched, the number of launch vehicles is also increasing. Besides satellite launches, significant amount is being spent on space exploration programs, thus driving the market in space agencies segment.
North America was the largest market for thrust vector control in 2016. Increasing 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 are driving the growth of the thrust vector control market in North America.
BAE Systems PLC
Honeywell International Inc.
Jansen's Aircraft Systems Controls Inc.
S.A.B.C.A. (Sociétés Anonyme Belge De Constructions Aéronautiques)