Space Propulsion Market is expected to rise at annual rate 16.20% in the forecast period of 2021 to 2028 and is further estimated to reach USD 2,2185.09 million by 2028 due to the increasing number of space exploration missions.
On the other hand, increase in the concerns over space debris are expected to obstruct the market growth in the above mentioned forecast period. Increase in the emissions due to space missions is projected to challenge the space propulsion market.
According to Data Bridge Market Research the markets for space propulsion is accelerating because of the growing demand for LEO-based services, increase in the focus on reducing mission costs and the rising demand for advanced electric propulsion systems. Additionally, increase in the technological advancements in space propulsion, increasing use of nuclear technology in propulsion systems and rise in the use of small satellites in various applications positively affect the space propulsion market.
Furthermore, increasing research and development in space propulsion technologies, increase in the technological upgradation in space propulsion to reduce cost and improve efficiency, rise in the government investments in space technology and growing technological development in plasma thrusters extend profitable opportunities to the market players.
Now the question is which are the other regions that space propulsion market targeting? Data Bridge Market Research has estimated a large growth in North America because of the rise in the commercial communication and imaging satellites, rising deployment of small satellites, growing space exploration missions for interplanetary observations, and demand for resupply missions for International Space Station (ISS) in this region.
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Space propulsion market is segmented on the basis of countries into U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
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Above are the key players covered in the report, to know about more and exhaustive list of space propulsion companies’ contact us, https://www.databridgemarketresearch.com/toc/?dbmr=global-space-propulsion-market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Global Space Propulsion Market – Industry Trends and Forecast to 2028