Space Propulsion Global Market Report 2022: Sector to Reach $22.5 Billion by 2030 at a 15.5% CAGR

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Jan 27, 2023, 17:50 ET

DUBLIN, Jan. 27, 2023 /PRNewswire/ -- The "Space Propulsion Market" report has been added to ResearchAndMarkets.com's offering.

The global space propulsion market size is expected to reach USD 22,536.23 million by 2030, according to a new study. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.

The wide variety of usage of satellites and spacecraft include satellite-based communication for military and commercial application, in-flight internet services, satellite imaging technology, satellite-based critical data acquisition, and exploration of space.

When land-based communication is unavailable during emergencies and natural catastrophes, satellite communications technology is frequently utilized. Emergency communication services can be provided in disaster zones using mobile satellite equipment. Due to the commercialization of the worldwide space industry and the entry of new market participants, the 21st century has transformed the market dynamics of the global space industry and the growth of the global market.

For instance, Accion System will launch 2 TILE 2 space propulsion systems. It will fly on an Astro Digital micro-satellite, on June 2021 SpaceX, a rideshare flight. Tenzing, a ride-sharing satellite owned by Astro Digital, is home to numerous payloads.

In the future, communication satellites will have more capabilities such as large aperture to handle more bandwidth and more power. Their life span would increase to 20-30 years. Other technical innovations and low-cost reused launch vehicles will drive market growth. Electrical propulsion is a next-generation propulsion system and in that ion, propulsion has increased the market of the space industry. The development of electrical propulsion has increased the number of space launches and the idea of space tourism has come into the limelight by major market players.

For instance, IHI Aerospace announced in Aug. 2022, that OHB Sweden will receive 1N thrusters from them. The commercial satellite will be able to navigate because of the thrusters.

Market Dynamics

Drivers and Opportunities

Increasing Demand for LEO-Based Services
Technological Advancement in Space Propulsion

Restraints and Challenges

Concerns Over Space Debris

Space Propulsion Market Report Highlights

Non- Chemical propulsion type leads the market share during the forecast period with significant CAGR because of the low cost and increased safety of the aircraft.
Thrusters accounted for the highest revenue share accounting for their application in maneuvering and orbit control of satellites.
The high space budget, the large number of commercial space organizations and market participants in North America, and the sizeable space industry are all credited with the expansion.
The global market players include Accion Systems, Aerojet Rocketdyne, IHI Corporation, Blue Origin, and Northrop Grumman.

The publisher has segmented the space propulsion market report based on type, system, platform, end-use, and region:
Space Propulsion, Type Outlook (Revenue - USD Million, 2018 - 2030)

Chemical Propulsion
Non-Chemical

Space Propulsion, System Outlook (Revenue - USD Million, 2018 - 2030)

Thrusters
Propellant Feed System
Rocket Motors
Nozzles
Propulsion Thermal Control
Power processing units

Space Propulsion, Platform Outlook (Revenue - USD Million, 2018 - 2030)

Satellites
Capsules or Cargo
Interplanetary Spacecraft and Probes
Rovers and Spacecraft Lander
Launch Vehicles

Space Propulsion, End-Use Outlook (Revenue - USD Million, 2018 - 2030)

Commercial
Satellites Operators and Owners
Space Launch Service Provider
Government of Defense
Departments of Defense
National Space Agencies
Others

Space Propulsion, Regional Outlook (Revenue - USD Million, 2018 - 2030)

North America
U.S
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa

Key Topics Covered:

1. Introduction

2. Executive Summary

3. Research Methodology

4. Global Space Propulsion Market Insights

5. Global Space Propulsion Market, by System

6. Global Space Propulsion Market, by Platform

7. Global Space Propulsion Market, by Type

8. Global Space Propulsion Market, by End-Use

9. Global Space Propulsion Market, by Geography

10. Competitive Landscape

11. Company Profiles

Companies Mentioned

Accion Systems
Aerojet Rocketdyne Holdings
IHI Corporation
Blue Origin
Northrop Grumman Corporation
Space Exploration Technologies
Safran
Airbus Se
Thales Alenia Space.

For more information about this report visit https://www.researchandmarkets.com/r/du8uat-propulsion?w=5

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