Next-Gen Nuclear Reactor Market to Hit USD 108.7 Bn by 2034
Global Next-Generation Nuclear Reactor Technologies Market Size, Share, Analysis Report By Reactor Type(SMR, SFR, MSR, VHTR, Others), Application(Power Generation, Industrial Applications, Research and Development, Others), End-User(Utility Providers, Government Organizations, Research Institutions, Others), Region and Key Players - Industry Segment Overview, Market Dynamics, Competitive Strategies, Trends and Forecast 2025-2034
The Global Next-Generation Nuclear Reactor Technologies Market is projected to reach USD 108.7 billion by 2034, up from approximately USD 46.9 billion in 2024, growing at a CAGR of 7.9% during the forecast period from 2025 to 2034. This growth reflects increasing global investment in small modular reactors (SMRs), advanced fission systems, and fusion research, all aimed at delivering carbon-free baseload energy. The accelerating shift toward decarbonization, coupled with innovations in reactor safety, modular construction, and nuclear fuel cycles, is reshaping the global energy landscape. With countries striving to meet their net-zero commitments, next-generation reactors are becoming pivotal to achieving a sustainable and resilient energy mix — making this market one of the most transformative opportunities in the clean energy sector.
The Next-Generation Nuclear Reactor Technologies market encompasses advanced nuclear reactor designs that aim to improve efficiency, safety, and sustainability compared to traditional reactors. These technologies include small modular reactors (SMRs), sodium-cooled fast reactors, and molten salt reactors, which are designed to meet future energy demands with lower environmental impacts. As countries increasingly focus on reducing carbon emissions, the nuclear power sector is witnessing renewed interest. The current market is characterized by significant investments from both governments and private entities aiming to develop and deploy these innovative technologies to enhance energy security and reduce reliance on fossil fuels.
The growth dynamics of the Next-Generation Nuclear Reactor Technologies market are propelled by several key drivers. The increasing global energy demand, coupled with stringent environmental regulations aimed at reducing greenhouse gas emissions, is fostering the adoption of nuclear energy as a cleaner alternative. Technological advancements, particularly in reactor safety and waste management, are also enhancing the appeal of nuclear power. Furthermore, government initiatives and funding for research and development in advanced reactor technologies contribute to market growth. The growing focus on energy independence and security, especially amid geopolitical tensions, further underscores the importance of investing in reliable and sustainable energy sources.
North America and Europe are expected to dominate the Next-Generation Nuclear Reactor Technologies market due to their established nuclear infrastructure and ongoing investments in advanced reactor technologies. The United States is actively developing various SMR projects, while European countries are exploring new reactor designs to complement their renewable energy initiatives. Asia-Pacific is emerging as a significant market, with countries like China and India ramping up their nuclear power capabilities to meet rising energy demands. This region's focus on energy security and environmental sustainability positions it as a critical player in the global nuclear landscape.
The COVID-19 pandemic had a notable impact on the Next-Generation Nuclear Reactor Technologies market. Disruptions in supply chains, labor shortages, and delays in construction projects hindered progress in reactor development and deployment. However, the pandemic also highlighted the resilience of nuclear energy in providing stable, low-emission electricity during uncertain times. As economies recover and energy demands rebound, the market is poised for growth, with an increasing recognition of nuclear power’s role in achieving a sustainable energy future.
Key Takeaways:
Market Growth: The Next-Generation Nuclear Reactor Technologies market is expected to reach USD 108.7 billion by 2034, growing at a robust CAGR of 7.9%, indicating strong market expansion driven by increasing energy demands and a shift towards cleaner energy sources.
Reactor Type Analysis: Small Modular Reactors (SMRs) are anticipated to lead the market due to their enhanced safety features, scalability, and quicker deployment compared to traditional reactors. Their adaptability makes them attractive for various applications, especially in remote locations.
Application Analysis: The power generation segment is projected to hold the largest share, driven by the need for reliable and low-emission electricity. This segment benefits from government support and increasing investments in nuclear energy projects across various regions.
Driver: The escalating global energy demand, coupled with the urgent need to reduce carbon emissions, is significantly driving the adoption of next-generation nuclear technologies. Supportive government policies and initiatives for cleaner energy sources further enhance market growth.
Restraint: High initial capital investment and long lead times for reactor construction can deter potential investors. Additionally, public perception and safety concerns associated with nuclear energy pose challenges that could impede market growth.
Opportunity: The advancement of technology and increasing focus on energy security provide significant growth opportunities. Developing regions, particularly in Asia-Pacific, show promise for expanding nuclear infrastructure to meet rising energy needs.Trend: There is a growing trend toward integrating renewable energy sources with nuclear power, as hybrid systems are explored for enhanced energy security and sustainability.
Regional Analysis: North America and Asia-Pacific are projected to be the leading regions in market share and growth potential. North America benefits from established nuclear infrastructure, while Asia-Pacific is rapidly expanding its nuclear capabilities to meet growing energy demands.
Reactor Type:
The Next-Generation Nuclear Reactor Technologies market is primarily segmented by reactor type, including Small Modular Reactors (SMRs), Sodium-Cooled Fast Reactors (SFRs), Molten Salt Reactors (MSRs), Very High-Temperature Reactors (VHTRs), and others. SMRs are gaining prominence due to their modular design, which allows for easier transport and installation, along with reduced upfront costs. SFRs are recognized for their ability to utilize fast neutrons to sustain fission, enabling efficient fuel recycling. MSRs operate at atmospheric pressure and can utilize various fuel types, enhancing safety and efficiency. VHTRs can produce high-temperature heat, making them suitable for hydrogen production and industrial applications. This diversity in reactor types caters to different energy needs and regulatory requirements, fostering innovation in the nuclear sector.
Application:
The applications of next-generation nuclear reactor technologies are diverse, encompassing power generation, industrial applications, and research and development. The power generation segment is the largest, driven by increasing electricity demand and the need for low-emission energy sources. Nuclear power provides a stable and reliable energy supply, essential for industrial growth. In addition, advanced reactors are being explored for industrial applications such as process heat and hydrogen production, which can complement renewable energy sources. Research and development efforts are crucial for advancing reactor technologies, safety measures, and waste management solutions. By focusing on innovative applications, the nuclear industry aims to enhance its contribution to global energy needs while addressing environmental concerns.
End-User:
The end-user segment of the Next-Generation Nuclear Reactor Technologies market includes utility providers, government organizations, and research institutions. Utility providers are the primary consumers, leveraging nuclear technology to generate electricity for residential and commercial sectors. Government organizations play a vital role in regulatory approval and funding for nuclear projects, often driving advancements in reactor technology through public policy. Research institutions contribute to the market by developing new technologies and methodologies that enhance reactor safety and efficiency. As global energy demands grow, the collaboration among these end-users will be critical in advancing nuclear technologies and ensuring sustainable energy production while navigating the complexities of regulatory frameworks and public perception.
Region Analysis:
North America Leads With 40% Market Share In Next-Generation Nuclear Reactor Technologies Market: North America dominates the Next-Generation Nuclear Reactor Technologies market, holding a substantial 40% market share. This leadership is primarily due to the presence of established nuclear infrastructure and advanced research capabilities. The United States, in particular, has a long history of nuclear energy production and is actively investing in the development of Small Modular Reactors (SMRs) and other next-generation technologies. Government policies and incentives aimed at reducing carbon emissions have bolstered the nuclear sector, promoting its role in achieving energy security and sustainability. Additionally, public-private partnerships are fostering innovation in reactor design and safety features, ensuring that North America remains at the forefront of nuclear technology. The region's emphasis on energy independence and a diversified energy portfolio further solidifies its market dominance.
Asia-Pacific is poised to be the fastest-growing region in the Next-Generation Nuclear Reactor Technologies market, driven by increasing energy demands and government commitments to carbon reduction. Countries like China and India are significantly expanding their nuclear capacities to address energy shortages and reduce reliance on fossil fuels. China’s ambitious nuclear expansion plan includes building new reactors and investing in advanced technologies like Sodium-Cooled Fast Reactors (SFRs). Meanwhile, India is focused on indigenous reactor development and enhancing its nuclear energy share. Additionally, Southeast Asian nations are exploring nuclear power as a viable energy source to support economic growth and energy security. This surge in nuclear initiatives across Asia-Pacific is anticipated to contribute significantly to the global market, challenging the established dominance of North America and Europe.
By Reactor Type (Small Modular Reactors (SMRs), Generation IV Reactors, (Gas-Cooled Fast Reactors (GFR), Lead-Cooled Fast Reactors (LFR), Molten Salt Reactors (MSR)), Fast Neutron Reactors (FNRs), Fusion Reactors, Very High-Temperature Reactors (VHTRs), Other Advanced Reactors), By Fuel Type (Uranium-Based Reactors, Thorium-Based Reactors, Mixed Oxide (MOX) Fuel, Fusion Fuel (Deuterium & Tritium)), By Deployment Type (On-Site/Conventional Nuclear Plants, Modular / Off-Site Manufactured Reactors), By End-User (Utilities & Power Generation Companies, Government & Research Institutions, Industrial Energy Consumers), By Application (Power Generation, Industrial Heat & Process Energy, Desalination, Space Applications)
Research Methodology
Primary Research- 100 Interviews of Stakeholders
Secondary Research
Desk Research
Regional scope
North America (United States, Canada, Mexico)
Latin America (Brazil, Argentina, Columbia)
East Asia And Pacific (China, Japan, South Korea, Australia, Cambodia, Fiji, Indonesia)
Sea And South Asia (India, Singapore, Thailand, Taiwan, Malaysia)
Eastern Europe (Poland, Russia, Czech Republic, Romania)
Western Europe (Germany, U.K., France, Spain, Itlay)
Middle East & Africa (GCC Countries, Egypt, Nigeria, South Africa, Israel)
Competitive Landscape
Areva SA, General Electric Company, Westinghouse Electric Company LLC, Rosatom, Hitachi Ltd., Siemens AG, TerraPower LLC, NuScale Power LLC, Fluor Corporation, Mitsubishi Heavy Industries Ltd., Babcock & Wilcox Enterprises Inc., Candu Energy Inc., Korea Electric Power Corporation (KEPCO), China National Nuclear Corporation (CNNC), Electricité de France (EDF), Reactor Development Company, X-energy, Holtec International, Duke Energy Corporation, Nuclear Power Corporation of India Limited (NPCIL)
Customization Scope
Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements.
Pricing and Purchase Options
Avail customized purchase options to meet your exact research needs. We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF).
TABLE OF CONTENTS
1. EXECUTIVE SUMMARY
1.1. MARKET SNAPSHOT
1.2. KEY FINDINGS & INSIGHTS
1.3. ANALYST RECOMMENDATIONS
1.4. FUTURE OUTLOOK
2. RESEARCH METHODOLOGY
2.1. MARKET DEFINITION & SCOPE
2.2. RESEARCH OBJECTIVES: PRIMARY & SECONDARY DATA SOURCES
2.3. DATA COLLECTION SOURCES
2.3.1. COVERAGE OF 100+ PRIMARY RESEARCH/CONSULTATION CALLS WITH INDUSTRY STAKEHOLDERS
FIGURE 17 NORTH AMERICA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 18 NORTH AMERICA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 19 MARKET SHARE BY COUNTRY
FIGURE 20 LATIN AMERICA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 21 LATIN AMERICA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 22 MARKET SHARE BY COUNTRY
FIGURE 23 EASTERN EUROPE NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 24 EASTERN EUROPE NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 25 MARKET SHARE BY COUNTRY
FIGURE 26 WESTERN EUROPE NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 27 WESTERN EUROPE NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 28 MARKET SHARE BY COUNTRY
FIGURE 29 EAST ASIA AND PACIFIC NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 30 EAST ASIA AND PACIFIC NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 31 MARKET SHARE BY COUNTRY
FIGURE 32 SEA AND SOUTH ASIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 33 SEA AND SOUTH ASIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 34 MARKET SHARE BY COUNTRY
FIGURE 35 MIDDLE EAST AND AFRICA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 36 MIDDLE EAST AND AFRICA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 37 NORTH AMERICA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE MARKET VOLUME SHARE REGIONAL ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 38 U.S. NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 39 U.S. NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 40 CANADA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 41 CANADA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 42 LATIN AMERICA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE MARKET VOLUME SHARE REGIONAL ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 43 MEXICO NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 44 MEXICO NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 45 BRAZIL NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 46 BRAZIL NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 47 ARGENTINA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 48 ARGENTINA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 49 COLUMBIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 50 COLUMBIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 51 REST OF LATIN AMERICA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 52 REST OF LATIN AMERICA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 53 EASTERN EUROPE NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE MARKET VOLUME SHARE REGIONAL ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 54 POLAND NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 55 POLAND NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 56 RUSSIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 57 RUSSIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 58 CZECH REPUBLIC NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 59 CZECH REPUBLIC NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 60 ROMANIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 61 ROMANIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 62 REST OF EASTERN EUROPE NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 63 REST OF EASTERN EUROPE NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 64 WESTERN EUROPE NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE MARKET VOLUME SHARE REGIONAL ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 65 GERMANY NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 66 GERMANY NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 67 FRANCE NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 68 FRANCE NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 69 UK NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 70 UK NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 71 SPAIN NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 72 SPAIN NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 73 ITALY NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 74 ITALY NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 75 REST OF WESTERN EUROPE NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 76 REST OF WESTERN EUROPE NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 77 EAST ASIA AND PACIFIC NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE MARKET VOLUME SHARE REGIONAL ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 78 CHINA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 79 CHINA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 80 JAPAN NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 81 JAPAN NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 82 AUSTRALIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 83 AUSTRALIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 84 CAMBODIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 85 CAMBODIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 86 FIJI NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 87 FIJI NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 88 INDONESIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 89 INDONESIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 90 SOUTH KOREA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 91 SOUTH KOREA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 92 REST OF EAST ASIA AND PACIFIC NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 93 REST OF EAST ASIA AND PACIFIC NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 94 SEA AND SOUTH ASIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE MARKET VOLUME SHARE REGIONAL ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 95 BANGLADESH NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 96 BANGLADESH NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 97 NEW ZEALAND NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 98 NEW ZEALAND NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 99 INDIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 100 INDIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 101 SINGAPORE NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 102 SINGAPORE NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 103 THAILAND NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 104 THAILAND NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 105 TAIWAN NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 106 TAIWAN NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 107 MALAYSIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 108 MALAYSIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 109 REST OF SEA AND SOUTH ASIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 110 REST OF SEA AND SOUTH ASIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 111 MIDDLE EAST AND AFRICA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE MARKET VOLUME SHARE REGIONAL ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 112 GCC COUNTRIES NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 113 GCC COUNTRIES NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 114 SAUDI ARABIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 115 SAUDI ARABIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 116 UAE NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 117 UAE NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 118 BAHRAIN NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 119 BAHRAIN NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 120 KUWAIT NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 121 KUWAIT NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 122 OMAN NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 123 OMAN NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 124 QATAR NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 125 QATAR NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 126 EGYPT NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 127 EGYPT NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 128 NIGERIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 129 NIGERIA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 130 SOUTH AFRICA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 131 SOUTH AFRICA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 132 ISRAEL NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 133 ISRAEL NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 134 REST OF MEA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE TYPE ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 135 REST OF MEA NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE END USER ANALYSIS, 2025–2034, (USD MILLION)
FIGURE 136 U. S. MARKET SHARE ANALYSIS BY TYPE (2024)
FIGURE 137 U. S. MARKET SHARE ANALYSIS BY END USER (2024)
FIGURE 138 CANADA MARKET SHARE ANALYSIS BY TYPE (2024)
FIGURE 139 CANADA MARKET SHARE ANALYSIS BY END USER (2024)
FIGURE 140 MEXICO MARKET SHARE ANALYSIS BY TYPE (2024)
FIGURE 141 MEXICO MARKET SHARE ANALYSIS BY END USER (2024)
FIGURE 142 CHINA MARKET SHARE ANALYSIS BY TYPE (2024)
FIGURE 143 CHINA MARKET SHARE ANALYSIS BY END USER (2024)
FIGURE 144 JAPAN MARKET SHARE ANALYSIS BY TYPE (2024)
FIGURE 145 JAPAN MARKET SHARE ANALYSIS BY END USER (2024)
FIGURE 146 INDIA MARKET SHARE ANALYSIS BY TYPE (2024)
FIGURE 147 INDIA MARKET SHARE ANALYSIS BY END USER (2024)
FIGURE 148 SOUTH KOREA MARKET SHARE ANALYSIS BY TYPE (2024)
FIGURE 149 SOUTH KOREA MARKET SHARE ANALYSIS BY END USER (2024)
FIGURE 150 SAUDI ARABIA MARKET SHARE ANALYSIS BY TYPE (2024)
FIGURE 151 SAUDI ARABIA MARKET SHARE ANALYSIS BY END USER (2024)
FIGURE 152 UAE MARKET SHARE ANALYSIS BY TYPE (2024)
FIGURE 153 UAE MARKET SHARE ANALYSIS BY END USER (2024)
FIGURE 154 EGYPT MARKET SHARE ANALYSIS BY TYPE (2024)
FIGURE 155 EGYPT MARKET SHARE ANALYSIS BY END USER (2024)
FIGURE 156 NIGERIA MARKET SHARE ANALYSIS BY TYPE (2024)
FIGURE 157 NIGERIA MARKET SHARE ANALYSIS BY END USER (2024)
FIGURE 158 SOUTH AFRICA MARKET SHARE ANALYSIS BY TYPE (2024)
FIGURE 159 SOUTH AFRICA MARKET SHARE ANALYSIS BY END USER (2024)
FIGURE 160 GERMANY MARKET SHARE ANALYSIS BY TYPE (2024)
FIGURE 161 GERMANY MARKET SHARE ANALYSIS BY END USER (2024)
FIGURE 162 FRANCE MARKET SHARE ANALYSIS BY TYPE (2024)
FIGURE 163 FRANCE MARKET SHARE ANALYSIS BY END USER (2024)
FIGURE 164 UK MARKET SHARE ANALYSIS BY TYPE (2024)
FIGURE 165 UK MARKET SHARE ANALYSIS BY END USER (2024)
FIGURE 166 SPAIN MARKET SHARE ANALYSIS BY TYPE (2024)
FIGURE 167 SPAIN MARKET SHARE ANALYSIS BY END USER (2024)
FIGURE 168 ITALY MARKET SHARE ANALYSIS BY TYPE (2024)
FIGURE 169 ITALY MARKET SHARE ANALYSIS BY END USER (2024)
FIGURE 170 BRAZIL MARKET SHARE ANALYSIS BY TYPE (2024)
FIGURE 171 BRAZIL MARKET SHARE ANALYSIS BY END USER (2024)
FIGURE 172 ARGENTINA MARKET SHARE ANALYSIS BY TYPE (2024)
FIGURE 173 ARGENTINA MARKET SHARE ANALYSIS BY END USER (2024)
FIGURE 174 COLUMBIA MARKET SHARE ANALYSIS BY TYPE (2024)
FIGURE 175 COLUMBIA MARKET SHARE ANALYSIS BY END USER (2024)
FIGURE 176 GLOBAL NEXT-GENERATION NUCLEAR REACTOR TECHNOLOGIES CURRENT AND FUTURE MARKET KEY COUNTRY LEVEL ANALYSIS, 2024–2034, (USD MILLION)
FIGURE 177 FINANCIAL OVERVIEW:
Key Players Analysis:
Areva SA: Areva SA, headquartered in France, specializes in nuclear energy solutions, including fuel cycle management, reactor design, and waste management. Their flagship product is the EPR reactor, designed for enhanced safety and efficiency. Areva focuses on sustainability and innovation, emphasizing collaboration with international partners to expand its global footprint in the nuclear sector
General Electric Company: General Electric (GE) is a multinational conglomerate based in the USA, involved in various sectors, including nuclear energy. GE provides advanced nuclear reactor technologies and digital solutions for monitoring and operational efficiency. Their strategy emphasizes innovation and sustainability, aiming to integrate digital capabilities into their nuclear operations to enhance performance and safety.
Westinghouse Electric Company LLC: Westinghouse Electric Company, based in the USA, is a leader in nuclear power technology, offering services such as reactor construction, maintenance, and fuel supply. They are known for their AP1000 reactor design, which emphasizes safety and cost-effectiveness. Westinghouse's strategy focuses on expanding its global presence and partnerships to drive innovation in nuclear technology
Rosatom: Rosatom, the Russian state nuclear energy corporation, is a global leader in nuclear technology, providing reactor design, fuel supply, and decommissioning services. With a focus on the VVER reactor series, Rosatom aims to enhance energy security and reduce carbon emissions. The company's strategy involves expanding its international projects and collaborations, particularly in developing countries.
Hitachi, Ltd.: Hitachi, based in Japan, is involved in various sectors, including nuclear power. They offer advanced reactor designs and are engaged in nuclear plant construction and maintenance. Hitachi's strategy focuses on technological innovation and partnerships, aiming to enhance nuclear safety and efficiency while addressing global energy challenges.
Siemens AG: Siemens AG, headquartered in Germany, provides comprehensive solutions for the nuclear industry, including reactor design, automation, and digitalization services. Their strategy emphasizes the integration of smart technologies and sustainability practices to enhance operational efficiency and safety in nuclear power plants.
TerraPower, LLC: TerraPower, based in the USA, focuses on innovative nuclear reactor designs, including the Natrium reactor, which utilizes molten salt technology. Their mission is to provide sustainable energy solutions while addressing global energy demands. TerraPower's strategy revolves around collaboration with government and industry partners to advance next-generation nuclear technologies.
NuScale Power, LLC: NuScale Power, based in the USA, specializes in Small Modular Reactor (SMR) technology. Their flagship product, the NuScale Power Module, is designed for safety and flexibility in energy production. NuScale's strategy focuses on regulatory engagement and partnerships to accelerate the commercialization of their SMR technology.
Fluor Corporation: Fluor Corporation, headquartered in the USA, provides engineering and construction services for the nuclear industry. Their expertise includes project management, design, and construction of nuclear facilities. Fluor's strategy emphasizes safety, quality, and efficiency, focusing on delivering comprehensive solutions to enhance nuclear energy projects globally.
Mitsubishi Heavy Industries, Ltd.: Mitsubishi Heavy Industries (MHI), based in Japan, is involved in the development of advanced nuclear reactor technologies, including the APWR. MHI offers a range of services, including design, construction, and maintenance of nuclear power plants. Their strategy emphasizes technological innovation and collaboration to enhance the global nuclear energy landscape.
Market Key Players
Areva SA
General Electric Company
Westinghouse Electric Company LLC
Rosatom
Hitachi, Ltd.
Siemens AG
TerraPower, LLC
NuScale Power, LLC
Fluor Corporation
Mitsubishi Heavy Industries, Ltd.
Babcock & Wilcox Enterprises, Inc.
Candu Energy Inc.
Korea Electric Power Corporation (KEPCO)
China National Nuclear Corporation (CNNC)
Electricité de France (EDF)
Reactor Development Company
X-energy
Holtec International
Duke Energy Corporation
Nuclear Power Corporation of India Limited (NPCIL)
Driver:
Rising Energy Demand
The global demand for energy continues to rise due to population growth and urbanization, necessitating the development of sustainable and reliable energy sources. Next-generation nuclear reactors offer a clean alternative to fossil fuels, capable of generating substantial electricity without carbon emissions. As countries seek to reduce greenhouse gas emissions, nuclear power is increasingly viewed as a critical component of a balanced energy mix. For instance, the International Energy Agency projects that global electricity demand will grow by 30% by 2040. This demand stimulates investments in advanced nuclear technologies, including Small Modular Reactors (SMRs) and Molten Salt Reactors (MSRs), which provide efficient and flexible power generation solutions. As a result, next-generation nuclear technologies are becoming an essential aspect of future energy planning.
Government Support and Policies
Government initiatives aimed at promoting clean energy sources are driving investments in next-generation nuclear technologies. Many countries are implementing policies that incentivize the development of nuclear power to meet climate targets, enhance energy security, and reduce reliance on fossil fuels. For example, the U.S. government has introduced various programs to support advanced reactor research and development, such as the Advanced Reactor Demonstration Program (ARDP). Similarly, countries like China and India are incorporating nuclear energy into their long-term energy strategies, facilitating construction and operational expansions of nuclear facilities. Such supportive frameworks not only encourage technological advancements but also foster collaboration between public and private sectors, driving growth in the next-generation nuclear reactor market and positioning nuclear energy as a viable option for a sustainable future.
Technological Advancements
Innovations in nuclear technology are significantly enhancing the feasibility and safety of next-generation reactors. Advancements in materials science, reactor designs, and safety protocols contribute to the attractiveness of modern nuclear systems. For example, new fuel types, such as high-assay low-enriched uranium (HALEU), improve fuel efficiency and minimize waste. The development of digital technologies, including advanced simulation and monitoring systems, enhances reactor safety and operational efficiency. These innovations help mitigate concerns regarding nuclear accidents and waste management, thereby improving public perception of nuclear energy. Additionally, the focus on creating modular reactor designs allows for reduced construction times and costs, making nuclear power more accessible. As technology continues to evolve, it reinforces the role of nuclear energy in the global transition toward sustainable energy solutions.
Restraints:
High Initial Capital Investment
One of the significant barriers to the adoption of next-generation nuclear reactor technologies is the high initial capital investment required for construction and development. Building nuclear power plants demands substantial financial resources, often reaching billions of dollars, which can deter investors and stakeholders. Additionally, the lengthy timelines associated with nuclear projects further exacerbate financial risks, as potential returns on investment are delayed. Regulatory complexities and the need for comprehensive safety assessments add to the costs and can lead to project overruns. In a competitive energy market, this high financial barrier can limit the number of new nuclear projects, restricting the growth of next-generation technologies and hindering their potential to contribute to the global energy mix effectively.
Public Perception and Safety Concerns
Public perception of nuclear energy remains a critical restraint on the market. Concerns surrounding safety, particularly in the aftermath of high-profile accidents such as Chernobyl and Fukushima, have led to heightened scrutiny and skepticism about nuclear technology. Misconceptions regarding radiation and waste management often compound these safety fears. As a result, many communities oppose the construction of nuclear plants, leading to delays or cancellations of projects. Furthermore, regulatory bodies may impose stringent safety regulations, extending project timelines and increasing costs. Overcoming public apprehension is crucial for the successful deployment of next-generation nuclear technologies; addressing these concerns through transparent communication and community engagement will be vital for market growth.
Opportunities:
Growth in Developing Regions
Developing regions, particularly in Asia-Pacific and Africa, present significant opportunities for the next-generation nuclear reactor market. As these regions experience rapid population growth and urbanization, the demand for reliable and clean energy sources is increasing. Countries like India and China are expanding their nuclear capabilities to meet rising energy needs while reducing greenhouse gas emissions. Furthermore, nations in Africa are beginning to explore nuclear energy as a solution to their energy challenges, seeking to enhance energy security and support economic development. By providing technological expertise and investment, companies can tap into these emerging markets, helping to establish new nuclear infrastructure and drive the adoption of next-generation reactor technologies.
Integration with Renewable Energy
The growing trend of integrating nuclear energy with renewable sources offers another promising opportunity for next-generation nuclear reactor technologies. As countries aim for carbon neutrality, hybrid energy systems that combine nuclear power with solar and wind generation can provide a stable and reliable electricity supply. Nuclear energy can serve as a baseload power source, complementing the intermittent nature of renewables. This integration can enhance grid reliability and facilitate the transition to a low-carbon energy landscape. Companies investing in advanced reactor designs capable of synergizing with renewables stand to benefit from increased demand for sustainable energy solutions. Moreover, developing innovative energy storage solutions can further enhance the viability of these hybrid systems.
Trend:
Hybrid Energy Systems
A notable trend in the Next-Generation Nuclear Reactor Technologies market is the increasing interest in hybrid energy systems that combine nuclear power with renewable energy sources. As countries strive for decarbonization and energy independence, integrating nuclear energy into renewable energy frameworks is gaining traction. These hybrid systems allow nuclear reactors to provide baseload power, ensuring grid stability while complementing variable renewable sources like solar and wind. Furthermore, advancements in technology enable improved energy management and storage solutions, enhancing the efficiency of hybrid systems. This trend reflects a broader shift toward a more diversified and resilient energy portfolio, positioning nuclear power as a crucial player in the global transition to a sustainable energy future. By leveraging the strengths of both nuclear and renewable technologies, these hybrid systems can optimize energy production and reduce greenhouse gas emissions.
Recent Development:
In September 2024: South Korea's Ministry of Science and ICT (MSIT) signed a Memorandum of Understanding (MoU) with eight private companies, including Daewoo Engineering & Construction and Samsung Heavy Industries. This agreement aims to promote the development of next-generation nuclear reactors, including the Korean-designed SMART SMR, molten salt reactors, and sodium-cooled fast reactors. The partnership emphasizes technology transfer, licensing, and training, highlighting the importance of private sector involvement in achieving South Korea's nuclear energy goals.
In October 2024: GE Hitachi, Holtec, Rolls-Royce SMR, and Westinghouse have entered negotiations regarding small modular reactors (SMRs) in the UK. This collaboration seeks to leverage each company's strengths in developing and deploying advanced nuclear technologies, which is crucial for enhancing the UK's energy security and contributing to its net-zero targets.