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The global space propulsion system market size is expected to reach 19.97 billion in 2028 and register a revenue CAGR of 14.6% in 2028, according to latest analysis by Emergen Research. Market revenue growth can be attributed to increasing emphasis on decreasing costs associated with space missions. Space propulsion system, particularly non-chemical propulsion, enables mass reduction of satellites and other spacecraft, resulting in reduced cost of launching a specific mission or launch of more advanced and efficient spacecraft for a particular mass. Airbus Defense and Space is utilizing electric space propulsion systems for the purpose of orbital station keeping for over a decade and is focusing on construction of large satellites, deploying only electric space propulsion systems for initial orbit raising. Space propulsion systems provide reliable solutions to keep total system cost low and decrease orbit raising duration.

Increasing investments in space exploration and rising number of space exploration missions are driving growth of the space propulsion market. For instance, in 2019, the institution of US Air Force’s separate branch of armed services, the Space Force, announced that global space economy will generate USD 1.0 trillion to USD 1.5 trillion by 2040. Also, increasing investment by China and Russia in space missions in the near future is projected to drive demand for space propulsion systems.

The Global Space Propulsion System Market report is a detailed study of the different segments of the market, factors driving and restraining the growth of the market, and regional landscape based on the data gathered from both primary and secondary sources of data collection, along with the research methodology employed for analysis provided in the study. The market overview, SWOT analysis, and insights into the strategies adopted by key players operating in the Space Propulsion System market help understand the market forces and how those can be exploited to benefit from future opportunities.

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Key Highlights From the Report

In October 2021, NASA made an announcement about signing contracts with MagniX USA Inc. of Redmond and GE Aviation (GE) of Cincinnati for supporting Electric Powertrain Flight Demonstration (EPFD). It will mature Electrified Aircraft Propulsion (EAP) technologies at a fast pace through ground and flight demonstrations. NASA is aiming to introduce EAP technologies to U.S. aviation fleets by 2035.

By spacecraft type, rovers segment is expected to register significantly steady revenue CAGR over the forecast period. Rovers can examine more terrain, progress knowledge about performance of remote robotic vehicle control, and are capable of automatically placing themselves in areas where there is sunlight. For missions associated with finding past water activity on Mars through examination of minerals and rocks, rovers are particularly equipped with instruments/tools to examine a diverse soil and rock collection that may have clues about the planet’s past water activity.

Nuclear propulsion technology delivers two-fold propellant efficiency and high thrust, compared to chemical propellants. This system functions by transferring heat from reactor to a liquid propellant and coverts it into gas. The gas then expands through a nozzle to deliver thrust for propelling spacecraft. Unlike chemical propellants, a nuclear propulsion system can deploy propellants very efficiently, but thrust is low.

The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and others. The report also talks about the expansions these prominent players are vying for in the key regions of the market. The report focuses on the detailed analysis of the technological and product developments undertaken by these companies.

In market segmentation by manufacturers, the report covers the following companies-
Space Exploration Technologies Corporation, Safran SA, Lockheed Martin Corporation, Aerojet Rocketdyne Holdings Inc., Thales Alenia Space, Moog Inc., IHI Corporation, OHB SE, Northrop Grumman Corporation, and Sierra Nevada Corporation.

The research study gives a comprehensive analysis of the market with the help of several analytical tools and helps identify and capitalize on the growth prospects existing in the Space Propulsion System Market. It also offers accurate insights into the prevalent business strategies. The market overview gives growth estimations based on historical analysis and a detailed evaluation of the gross revenue, demand and supply dynamics, volume, market share, pricing structure, and profit margin for each market segment. The regional analysis takes into consideration the overall sales and CAGR to underline the leading companies in each regional Space Propulsion System based on product types and product applications.

Emergen Research has segmented global space propulsion system market on the basis of component, spacecraft type, propulsion type, orbital path, end-use, and region:

Component Outlook (Revenue, USD Billion; 2018–2028)

Thrusters

Rocket Motors

Propellant Feed Systems

Propulsion Thermal Control

Nozzles

Power Processing Units

Others

Spacecraft Type Outlook (Revenue, USD Billion; 2018–2028)

Satellites

Capsules

Rovers

Interplanetary Spacecraft & Probes

Launch Vehicles

Propulsion Type Outlook (Revenue, USD Billion; 2018–2028)

Chemical Propulsion

Non-Chemical Propulsion

Solar Propulsion

Electric Propulsion

Tether Propulsion

Laser Propulsion

Nuclear Propulsion

Orbital Path Outlook (Revenue, USD Billion; 2018–2028)

LEO

MEO

GEO

Others

End-use Outlook (Revenue, USD Billion; 2018–2028)

Government & Defense

Commercial

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The report offers three types of Space Propulsion Systems and uses analytical tools like Porter’s Five Forces analysis, SWOT analysis, and both qualitative and quantitative assessment of the market. It estimates the market size in the forecast duration by studying its value, volume, market share, growth rate, and other market essentials. It gives extensive company profiles, wherein the analysts explain the expansion tactics adopted by market leaders, including both long- and short-term strategies, and other vital competitive factors of significant businesses in the global Space Propulsion System market.

The report provides an in-depth study of the product, application, and regional segments of the global nano- and micro-satellite industry. As part of the regional analysis, the report includes an assessment of the leading regions of North America, Europe, India, China, and the EMEA.

Research Objectives:

It evaluates a comprehensive structure and overview of the Space Propulsion System Industry.

It provides accurate insights into critical factors like drivers and constraints, growth rate, value, volume, market share, and overall revenue.

It studies the growth prospects, challenges, drivers and restraints operating in the market.

It allows the reader to understand the Space Propulsion System market competition by assessing the top vendors, with elaborate company profiles, gross revenue, profit margin, import-export status, and global market share.

It brings to light the pricing structure, demand and supply dynamics, value chain analysis, SWOT analysis to support the formulation of lucrative business strategies.

It lists the data sources referred to during the study, detailed research methodology and other vital findings.

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The Space Propulsion System Market report also includes an investment analysis and growth trend analysis to help readers maximize their return on investment. It highlights the growth opportunities existing in the global Space Propulsion System market segments. It offers an extensive investigation of the import-export status and the rates of production and consumption. The Space Propulsion System Market report also provides some of the essential market aspects to draw a forecast for the coming years based on the information derived as part of the historical analysis and an analysis of the current market scenario.

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Contact Us:

Eric Lee

Corporate Sales Specialist

Emergen Research | Web: www.emergenresearch.com

Direct Line: +1 (604) 757-9756

E-mail: sales@emergenresearch.com

Visit for More Insights: https://www.emergenresearch.com/insights

Explore Our Custom Intelligence services | Growth Consulting Services

 

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