Rockets and human power: Value chain
How one company came to fly half the world's launches
How one company came to fly half the world's launches What this tab covers Who does what, from equipment makers to builders, owners, operators, traders and users, with the leading companies at each step.Rocket propulsion is concentrated in a few launch providers, led by SpaceX, which builds its own engines; bicycles rely on Asian frame makers and one dominant Japanese component maker.
The chain
Rocket engine makers Launch providers Customers Bicycle components Bicycle makers| Stage | What happens | Leading companies |
|---|---|---|
| Rocket engine makers | Design and build liquid engines (turbopumps, chambers, nozzles). Several launch companies build engines in-house. | SpaceX (United States) L3Harris Aerojet Rocketdyne (United States) Blue Origin (United States)2311 |
| Launch providers | Build and fly vehicles. BryceTech counted 325 orbital launches in 2025: SpaceX 165 (all Falcon 9, about 51%), China's CASC 68, Rocket Lab 18 and Roscosmos 17. Blue Origin's New Glenn flew its second mission in November 2025. | SpaceX (United States) CASC (China) Rocket Lab (United States and New Zealand) Roscosmos (Russia) Blue Origin (United States)411 |
| Customers | Satellite operators, governments and space agencies buy launches; SpaceX's own Starlink took about 74% of its 2025 launches. | 4 |
| Bicycle components | Gears, chains, brakes and hubs. Shimano's bicycle division sold 355 billion yen in 2025 (about 2.3 billion USD), up 2.7%. | Shimano (Japan)9 |
| Bicycle makers | Design frames and assemble bikes. In 2025 Giant Group revenue was NT$60.3 billion (down 15.5%) and Merida NT$26.8 billion (down 9.7%). | Giant (Taiwan) Merida (Taiwan)8 |
Sources
- RS-25 engine specification sheet L3Harris (Aerojet Rocketdyne), 2024
- Falcon 9 Wikipedia (compiling SpaceX data; figures as reported), 2026
- BryceTech report shows SpaceX accounted for 50% of launches in 2025 (BryceTech 2025 Year in Review) Via Satellite, 2026
- Giant, Ideal and TK release 2025 earnings reports Bicycle Retailer and Industry News, 2026
- Global performances mixed in 2025; Shimano reports 3% growth in bike division Bicycle Retailer and Industry News, 2026
- New Glenn launches NASA ESCAPADE, lands fully reusable booster Blue Origin, 2025