Global Space Propulsion Market, By Propulsion Type (Chemical Propulsion, Non-Chemical Propulsion, Tether Propulsion, Nuclear Propulsion, Laser 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, Satellite Operators and Owners, Space Launch Service Providers, Government and Defence, Department of Defence, National Space Agencies, Others) – Industry Trends and Forecast to 2030.
Space Propulsion Market Analysis and Size
The space propulsion market is expected to grow ate significant rate due to surge in space exploration missions, increase in demand for low earth orbit-based services, and rise in demand for satellite data. The “satellite” is expected to be the fastest growing platform segment during the forecast owing to the growing small satellite launches for government and commercial applications and surging adoption of advanced technology in cubeSats and small satellites.
Data Bridge Market Research analyses that the space propulsion market was valued at USD 8.41 billion in 2022 and is expected to reach the value of USD 24.01 billion by 2030, at a CAGR of 14.01% during the forecast period. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Space Propulsion Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Propulsion Type (Chemical Propulsion, Non-Chemical Propulsion, Tether Propulsion, Nuclear Propulsion, Laser 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, Satellite Operators and Owners, Space Launch Service Providers, Government and Defence, Department of Defence, National Space Agencies, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, 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 (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Accion Systems (U.S.), IHI Corporation (Japan), Ball Corporation (U.S.), Dawn Aerospace, Safran (France), SpaceX (U.S.), Northrop Grumman Corporation (U.S.), Blue Origin (U.S.), Moog Inc. (U.S.), Lockheed Martin Corporation (U.S.), OHB SE (Germany), Sierra Nevada Corporation (U.S.), Thales Group (France), Honeywell International Inc. (U.S.), Airbus (France), Cobham Limited (U.K.), L3Harris Technologies Inc. (U.S.), Boeing (U.S.)
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Market Opportunities
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Market Definition
Spacecraft propulsion is defined as any technique which is used to accelerate artificial satellites and spacecraft. In-space propulsion exclusively deals with propulsion systems which is used in the vacuum space and should not be confused with atmospheric entry or space launch. The space propulsion market comprises related services by entities or sales of space propulsion products used to accelerate artificial satellites and spacecraft. Spacecraft are generally propelled by the usage of a rocket engine.
Space Propulsion Market Dynamics
Drivers
- Strong Demand for Satellite Constellations to Drive Market Growth
The increasing focus of new market players on LEO satellites construction is anticipated to increase satellite sales. The satellite’s lower launch costs, cost-effectiveness, and availability of off-the-shelf parts are anticipated to increase its global adoption. Moreover, increasing satellite imaging applications are likely to boost market development. The growing demand for the product from national security and homeland security is expected to boost sales. All of these factors may drive the growth of the space propulsion market.
- Increasing demand of space propulsion in commercial sector
The demand for the space propulsion is increasing in commercial sector rapidly. The commercial sector is contributing more than three-fourths in the global space propulsion system market owing to the increase in space programs to support commercial applications worldwide. Therefore, increasing demand of space propulsion in commercial sector IS anticipated to drive the growth rate of the market
Opportunities
- Increasing government investments in space technology
Increased government investments in space technology are expected to create lucrative market growth opportunities during the forecast period. For instance, Westcott Space Cluster in Aylesbury Vale Enterprise Zone has invested in a new National Space Propulsion Test Facility (NSPTF) in 2021, which collected around USD4.91 million in sponsoring from the U.K. government Space Agency. This new facility will allow propulsion technology innovation, including testing more capable engines for interplanetary travel and low cost development. So, growing investments in space technology will boost the growth of the space propulsion market going forward.
Restraints
- Issues associated with space propulsion
Increase in the emissions owing to space missions and Increase in the concerns over space debris are some of the major factors among others which is restraining the growth of the space propulsion market, and will further challenge the market growth during the forecast period of 2023 to 2030.
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 localized 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 the 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.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Covid-19 Impact on Global Space Propulsion Market
The market for space propulsion systems saw a modest fall from 2018 to 2019 due to a drop in space dispatches. The coronavirus in the space industry has also impacted the import and fare exchange activities. However, the market for space propulsion will be driven by normal ascent in space.
The rapid spread of COVID-19 in Europe, the US, and Asia Pacific has resulted in a major decline in the demand for space propulsion systems worldwide. Furthermore, the corresponding drop in revenues for numerous providers and specialised organisations resulted from delayed delivery, production closures, the lack of staff at assembly offices, and restricted access to equipment across all business sectors. Industry experts predict that the demand for space propulsion will increase on a global scale.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Space Propulsion Market Scope
The space propulsion market is segmented based on the propulsion type, system component, support services, orbit, platform and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Propulsion Type
- Chemical Propulsion
- Solid
- Homogenous
- Composite/Heterogeneous
- Liquid
- Monopropellant
- Non-Green
- Green
- Bi-Propellant
- Cryogenic
- Hypergolic
- Hybrid
- Cold gas
- Non-Chemical Propulsion
- Electric or Iron Propulsion
- Electrothermal
- Argon
- Hydrogen
- Others
- Electromagnetic
- Pile
- Electrostatic
- Xenon
- Krypton
- Others
- Solar Propulsion
- Solar Sail Propulsion
- Solar Electric Propulsion
- Solar Thermal Propulsion
- Tether Propulsion
- Nuclear Propulsion
- Laser Propulsion
System Component
- Nozzle
- Power Processing Unit
- Propellant Feed System
- Propellant Tanks
- Monopropellant Tanks
- Bipropellant Tanks
- Oxidiser Tanks
- Flow and Pressure Regulators
- Valves
- Turbopumps
- Combustion Chambers
- Rocket Motors
- Thermal Control System
- Thrusters
- Chemical thrusters
- Cold and Warm gas Thrusters
- Monopropellant Thrusters
- Bipropellant Thruster
- Electric or Iron Thruster
- Gridded Electrostatic Ion thrusters
- Hall Effect Thrusters
- Field-emission Electric Propulsion
- Pulsed Plasma Thruster
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
- Satellite
- Cubesats
- Small Satellites
- Nanosatellites
- Microsatellites
- Minisatellites
- Medium Satellites (500-2,500kg)
- Large Satellites (>2,500kg)
- Capsules/Cargos
- Crewed Spacecraft or Human Space Flight
- Uncrewed or Unmanned Spacecraft
- Interplanetary Spacecraft and Forbes
- Rovers/Spacecraft Landers
- Launch Vehicles
- Small Launch Vehicles (<350,000Kg)
- Medium to Heavy Launch Vehicles (>350,000Kg)
- Reusable Launch Vehicles
End-User
- Commercial
- Satellite Operators and Owners
- Space Launch Service Providers
- Government and Defence
- Department of Defence
- National Space Agencies
- Others
Space Propulsion Market Regional Analysis/Insights
The space propulsion market is analyzed and market size insights and trends are 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 report U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, 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 (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the space propulsion market in revenue growth owing to rise in the demand for imaging satellites and commercial communication in this region. Moreover, growing demand for resupply missions for International Space Station will enhance the market growth rate in this region.
Asia-Pacific is projected to be the fastest developing region during the forecast period of 2023-2030. This is mainly owing to increasing space exploration missions for interplanetary observations and rising the deployment of small satellites in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact 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
The 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, Global presence, production sites and facilities, production capacities, 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.
Some of the major players operating in the space propulsion market are:
- Accion Systems (U.S.)
- IHI Corporation (Japan)
- Ball Corporation (U.S.)
- Dawn Aerospace
- Safran (France)
- SpaceX (U.S.)
- Northrop Grumman Corporation (U.S.)
- Blue Origin (U.S.)
- Moog Inc. (U.S.)
- Lockheed Martin Corporation (U.S.)
- OHB SE (Germany)
- Sierra Nevada Corporation (U.S.)
- Thales Group (France)
- Honeywell International Inc. (U.S.)
- Airbus (France)
- Cobham Limited (U.K.)
- L3Harris Technologies Inc. (U.S.)
- Boeing (U.S.)
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