Thrust vector control helps in directing the path by transmitting its thrust vector to provide directional control. Based on technology, the market is segmented into flex nozzle, gimbal nozzle, rotating nozzle, thrusters and others. In 2016, in terms of technology, the flex nozzle segment dominated the market followed by rotating nozzle and is anticipated to remain the dominant segment in the near future as well. Increased use of flex nozzles in missiles and satellite launchers is one of the major factors likely to fuel the market for thrust vector control in the coming years.Based on application, the market is segmented into satellites, missiles, launch vehicles, and fighter aircraft. Among various applications, in 2016, the fighter aircraft segment dominated the market followed by satellites, and is anticipated to be the same during the forecast period 2017 – 2025. The rise in acquisition of fighter aircrafts in developing countries such as India and China is one of the major factors boosting the growth of the fighter aircraft segment in the market.
Based on system, the market is segmented into wide thrust vector injection system, thrust vector actuation system, and thrust vector thruster system. In 2016, the thrust vector actuation system segment was the largest market followed by wide thrust vector injection system. Increasing demand for thrust vector actuation systems in the defense sector is one of the major factors set to drive the market for thrust vector control in the coming years.
Based on end user, the market is segmented into defense and space agencies. In 2016, defense dominated the market for thrust vector control followed by space agencies. Rise in demand for fighter aircraft to gain benefit over aerial opponents is one of the key factors likely to drive the growth of the defense segment in the thrust vector control market during the forecast period.
Increasing need for highly maneuverable fighter aircraft, rise in budget allocated for missile programs, growth in space research programs, and growing use of satellites to provide information are some of the major factors boosting the global thrust vector control market. However, some of the major factors restraining the market are high complexity in thrust vector control technology among others.
The geographical split of the market includes North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. In 2016, North America is the key market followed by Europe. The U.S. is estimated to be the key market in North America as well as globally. Increase in number of satellite launches and launch vehicles are major factors boosting the market for thrust vector control. Increasing spending on space exploration programs is another major factor boosting the market in North America. Europe is expected to follow North America.
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The major players in the thrust vector control market are Honeywell International, Inc. (United States), Moog, Inc. (United States), Woodward, Inc. (United States), Jansen Aircraft Systems Control, Inc. (United States), BAE Systems (United Kingdom), Wickman Spacecraft & Propulsion Company (United States), Parker Hannifin, Inc. (United States), Sierra Nevada Corporation (United States), Dynetics, Inc. (United States), and SABCA (Belgium).