Global Space Propulsion Market, By Propulsion Type (Chemical Propulsion, Non-Chemical Propulsion), System Component (Nozzle, Power Processing Unit, Propellant Feed System, Rocket Motors, Thermal Control System, Thrusters), Support Services (Design, Engineering and Operation, Fueling and Launch Support, and Hot Firing, Environmental Test Execution), Orbit (Beyond Geosynchronous Orbit, Geosynchronous Orbit, Low Earth Orbit, Medium Earth Orbit), Platform (Capsule/Cargo, Interplanetary Spacecraft and Probes, Launch Vehicles, Satellite), End-User (Commercial, Government & Military), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Space propulsion market will reach at an estimated value of USD 2,2185.09 million by 2028 and grow at a CAGR of 16.20% in the forecast period of 2021 to 2028. Rise in the number of space exploration missions is an essential factor driving the space propulsion market.
Spacecraft propulsion is defined as any method which is used to accelerate spacecraft and artificial satellites. In-space propulsion solely deals with propulsion systems used in the vacuum of space and should not be confused with space launch or atmospheric entry.
Rise in the demand for LEO-based services is a crucial factor accelerating the market growth, also rise in the focus on reducing mission costs, increase in the demand for advanced electric propulsion systems, rise in the technological advancements in space propulsion, rise in the use of nuclear technology in propulsion systems and increase in the use of small satellites in various applications are the major factors among others boosting the space propulsion market. Moreover, rise in the research & development in space propulsion technologies, rise in the technological upgradation in space propulsion to reduce cost and improve efficiency, increase in the government investments in space technology and rise in the technological development in plasma thrusters will further create new opportunities for space propulsion market in the forecast period mentioned above.
However, rise in the concerns over space debris and rise in the emissions due to space missions are the major factors among others restraining the market growth, and will further challenge the space propulsion market in the forecast period mentioned above.
This space propulsion market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on space propulsion market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Space Propulsion Market Scope and Market Size
Space propulsion market is segmented on the basis of propulsion type, system component, support services, orbit, platform and end-user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of propulsion type, space propulsion market is segmented into chemical propulsion and non-chemical propulsion.
- Based on system component, the space propulsion market is segmented into nozzle, power processing unit, propellant feed system, rocket motors, thermal control system, thrusters.
- Based on support services, the space propulsion market is segmented into design, engineering and operation, fueling and launch support, and hot firing and environmental test execution
- Based on orbit, the space propulsion market is segmented into beyond geosynchronous orbit, geosynchronous orbit, low earth orbit and medium earth orbit.
- Based on platform, the space propulsion market is segmented into capsule/cargo, interplanetary spacecraft and probes, launch vehicles and satellite.
- The space propulsion market is also segmented on the basis of end-user into commercial and government & military.
Space Propulsion Market Scope Country Level Analysis
Space propulsion market is analysed and market size, volume information is provided by country, propulsion type, system component, support services, orbit, platform and end-user as referenced above.
The countries covered in the space propulsion market report are 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).
North America currently dominates and is expected to expand at firm growth in the space propulsion market due to rise in the demand for commercial communication and imaging satellites, increasing deployment of small satellites, rising space exploration missions for interplanetary observations, and demand for resupply missions for International Space Station (ISS) in this region.
The country section of the space propulsion market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Space Propulsion Market Share Analysis
Space propulsion market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to space propulsion market.
The major players covered in space propulsion market report are Honeywell International Inc, Sierra Nevada Corporation, Safran, BLUE ORIGIN, SPACEX, Accion Systems, IHI Corporation and Northrop Grumman among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Space Propulsion Market
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