Market Overview:
Thrust vector control systems play pivotal role as an aerial guide to missiles and vehicles including fighter jets, spacecraft, and launch vehicles. The global thrust vector control systems market can achieve a 10% CAGR throughout the forecast period (2018-2023). Market Research Future (MRFR) in their report on the same declared a probability of the thrust vector control systems market exceeding the estimated valuation by 2023 is quite high.
Several factors such as defense and aircraft manufacturers are going to provide traction to the market to aid the production of missiles and fighter aircrafts. The system controls the thrust vector alignment to ensure perfect positioning. Its use in unmanned aerial vehicles or UAVs and in spacecrafts are also quite pivotal. But the shift towards reusable satellites can deter the market from having the expected growth rate.
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Segmental Analysis:
The global thrust vector control systems market, as discussed in the MRFR report, reveals a segmentation by type, component, and end-user.
By type, the thrust vector control systems market includes electromechanical systems, electrohydraulic systems, and other systems. The electromechanical systems segment holds the lion’s share in the market, whereas, the market is anticipated to witness the fastest growth of the electrohydraulic systems segment during the forecast period.
By component, the thrust vector control systems market comprises actuators, electronic control unit (ECU), and other subsystems. The actuators segment has the market lead but it is the electronic control unit segment that can lodge higher CAGR during the forecast period. The electronic control unit plays a crucial role in engine fluid control, controlling actuation, power distribution, all the while aiding in battery and propellant management.
By end-user, the thrust vector control systems market can be divided into defense organizations and space agencies. The defense organizations segment covers missiles & combat aircraft, while the space segment includes satellites & spacecrafts and launch vehicles. The defense organizations segment owns the larger share of the market, but it is the space agency segment that can be deemed to gross higher CAGR during the forecast period. The rise in space exploration programs are expected to provide much needed thrust to the global market and take the market forward with a remarkable speed.
Regional Analysis:
MRFR banks on namely, North America, Europe, Asia Pacific (APAC), Rest of the World (RoW) for a region-specific analysis of the global thrust vector control systems market.
North America is leading the charge by having the greatest share of the global market. The regional expenditure relies a lot on the successful investments made by the U.S. The country is known for allotment of a huge portion of their budget for defense section. At the same time, space exploration organizations such as NASA and SpaceX are operating from the region which is providing substantial thrust to the global market. Technological brilliance and high expenditure capacity are features that can boost the regional market scenario.
Europe is doing well as several companies in the region are considerably spending on their defense programs. Some of the major aircraft-makers are from the region which gives the region substantial boost.
The APAC region is mainly getting driven by countries like China, India, and others. China is giving remarkable competition to global leaders in terms of technological brilliance. On the other hand, India’s space probe is getting much accolades owing to which the regional market can secure hefty profits.
Competitive Landscape:
Several private companies are showing keen interest in increasing investment in the global thrust vector control systems market. These companies are JASC Corporation (US), Honeywell International, Inc. (US), Moog, Inc. (US), JSC PMZ VOSKHOD (Russia), Parker Hannifin Corporation (US), NAMMO AS (Norway), Wickman Spacecraft & Propulsion Company (US), Sierra Nevada Corporation (US), SABCA NV (Belgium), and Woodward, Inc. (US). Their strategic moves are to take them individually ahead and as a whole, ensure global market expansion.
In May 2019, BAE Systems (BAES) announced that their MAGMA is the first unmanned aerial vehicle that uses blown air for flight. The technology it includes are wing circulation control and fluidic thrust vectoring. Fluidic thrust vectoring deflects jet engine’s exhaust by blowing in air jets into that system. This is expected to increase the stealth of the aircraft.
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