Valued to be $24.3 Billion by 2026, Satellite Propulsion Systems Slated for Steady Growth Worldwide

SAN FRANCISCO, Oct. 22, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Satellite Propulsion Systems - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 5; Released: April 2021
Executive Pool: 2166
Companies: 46 - Players covered include Aerojet Rocketdyne Holdings, Inc.; Airbus Group SE; Ball Corporation; Bellatrix Aerospace (India) Pvt. Ltd.; Boeing Company, The; Mitsubishi Electric Corporation; OHB SE; Orbital ATK, Inc.; Safran; Thales Group and Others.
Coverage: All major geographies and key segments
Segments: Propulsion (Chemical Propulsion, Hybrid Propulsion, All-Electric Propulsion)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global Satellite Propulsion Systems Market to Reach $24.3 Billion by 2026
Amid the COVID-19 crisis, the global market for Satellite Propulsion Systems estimated at US$19.4 Billion in the year 2020, is projected to reach a revised size of US$24.3 Billion by 2026, growing at a CAGR of 3.8% over the analysis period. Chemical Propulsion, one of the segments analyzed in the report, is projected to record a 4.2% CAGR and reach US$15.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Hybrid Propulsion segment is readjusted to a revised 3.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $6 Billion in 2021, While China is Forecast to Reach $4.3 Billion by 2026
The Satellite Propulsion Systems market in the U.S. is estimated at US$6 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.3 Billion by the year 2026 trailing a CAGR of 3.6% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 3.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.

All-Electric Propulsion Segment to Reach US$3.8 Billion by the year 2026
In the global All-Electric Propulsion segment, USA, Canada, Japan, China and Europe will drive the 3.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.5 Billion in the year 2020 will reach a projected size of US$3.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More

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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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