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.
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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 new report titled ‘Global Space Propulsion System Market’, is methodically curated by our team of analysts, keeping readers’ understanding in mind, and includes a wide-ranging database of industry distribution. The report takes a closer look at the historical and current market scenarios to accurately predict the global Space Propulsion System Market outlook over the forecast duration (2019-2028). Researchers have taken a holistic approach towards the global market analysis and highlighted the factors that influence the overall growth of the market.
Major companies profiled in the market report include 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.
Regional Analysis:
Regional analysis includes an in-depth study of the key geographical regions to gain a better understanding of the market and provide an accurate analysis. The regional analysis covers North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis covers the analysis of key market segments, including revenue, CAGR, import/export, supply and demand ratio, production and consumption ratio, industrial chain analysis, and market dynamics in each region of the geographies.
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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
ToC of the report:
Chapter 1: Market overview and scope
Chapter 2: Market outlook
Chapter 3: Impact analysis of COVID-19 pandemic
Chapter 4: Competitive Landscape
Chapter 5: Drivers, Constraints, Opportunities, Limitations
Chapter 6: Key manufacturers of the industry
Chapter 7: Regional analysis
Chapter 8: Market segmentation based on type & applications
Chapter 9: Current and Future Trends
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At Emergen Research, we believe in advancing with technology. We are growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
