According to Fortune Business Insights, the global rocket hybrid propulsion market was valued at USD 512.6 million in 2023 and is projected to reach USD 2,600.8 million by 2032, growing at a robust CAGR of 15.0% during the forecast period. The market is anticipated to begin at USD 848.1 million in 2024. In 2023, North America dominated the market, accounting for a 62.45% share due to the presence of leading aerospace players and rising investments in space technologies.

What is Rocket Hybrid Propulsion?

Rocket hybrid propulsion is a system that utilizes two different states of propellants—typically solid fuel and liquid or gaseous oxidizers—in a single design. This hybrid configuration enables better control, improved safety, and cost-effectiveness compared to traditional solid or liquid-only propulsion systems.

The hybrid rocket engine generally features:

• A combustion chamber containing solid fuel
• A pressure vessel to hold the liquid oxidizer
• A valve system to regulate oxidizer flow

Upon ignition, the oxidizer reacts with the solid fuel—commonly Hydroxyl-Terminated Polybutadiene (HTPB) with high-energy additives like aluminum or lithium—to generate thrust.

Key Rocket Hybrid Propulsion Companies:

• Firehawk Aerospace Inc. (U.S.)
• Novart Space Technologies (Turkey)
• Sierra Space Corporation (U.S.)
• Virgin Galactic (U.S.)
• Pulsar Fusion (U.K.)
• HyPrSpace (France)
• Raytheon Missiles & Defense (U.S.)
• HyImpulse (Germany)
• INNOSPC (Germany)