Market Size of Thrust Vector Control Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 10.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Thrust Vector Control Market Analysis
The thrust vector control market is anticipated to register a CAGR of over 10% during the forecast period.
- The COVID-19 pandemic severely impacted the global market for thrust vector control. Lockdowns enforced by governments resulted in original equipment manufacturers (OEMs) shutting down production, supply chain disruptions, and a decline in space exploration activities, all of which hampered the market's growth. However, the market has shown a strong recovery since then, and it is expected to grow in the coming years, driven by an increase in defense spending and rising space programs.
- Thrust vector control (TVC) is a crucial component of aerospace maneuvering, enabling an aircraft, rocket, or launch vehicle to change its flight direction by altering the thrust from its engine. The market is expected to grow during the forecast period due to an increase in the implementation of thrust vector control in fighter aircraft, growing space programs, and rising adoption of thrust vector control in next-generation guided missile systems. Furthermore, the use of flex nozzles in satellite launchers and missile systems for high-actuation power is expected to boost the market growth.
- In summary, the rising adoption of thrust vector control in fighter jets, the growing defense expenditure, and the increasing use of thrust vector control in missile systems and satellite launchers are anticipated to drive the market's growth.
