The global space propulsion system market Research Report provides a brief overview inclusive of the competitive landscape and key developments, policies, manufacturing costs, and processes. The report also provides the analysis of import/export, production and consumption ratio, supply and demand, cost, price, estimated revenue, and gross margins. The report further discusses in detail the driving factors influencing the growth of the market currently and in the coming years.
Rising emphasis on decreasing costs associated with space missions is a significant factor driving global space propulsion system market revenue growth
Increasing investments in space exploration and rising number of space exploration missions are driving growth of the space propulsion market. For instance, in 2019, the institution of US Air Force’s separate branch of armed services, the Space Force, announced that global space economy will generate USD 1.0 trillion to USD 1.5 trillion by 2040. Also, increasing investment by China and Russia in space missions in the near future is projected to drive demand for space propulsion systems.
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Major companies profiled in the market report include Space Exploration Technologies Corporation, Safran SA, Lockheed Martin Corporation, Aerojet Rocketdyne Holdings Inc., Thales Alenia Space, Moog Inc., IHI Corporation, OHB SE, Northrop Grumman Corporation, and Sierra Nevada Corporation.
Some Key Highlights From the Report
- In October 2021, NASA made an announcement about signing contracts with MagniX USA Inc. of Redmond and GE Aviation (GE) of Cincinnati for supporting Electric Powertrain Flight Demonstration (EPFD). It will mature Electrified Aircraft Propulsion (EAP) technologies at a fast pace through ground and flight demonstrations. NASA is aiming to introduce EAP technologies to U.S. aviation fleets by 2035..
- Space propulsion market in North America accounted for largest revenue share in 2020, attributed to ongoing space exploration missions executed by NASA, increasing investment by private players and government organizations in space exploration and earth observation activities, and launch of satellites by the US department of Defense (DoD).
- In June 2019, NASA, for instance, selected six research development projects as part of its Small Business Innovation Research Program Phase II funding. NASA is aiming to develop innovative high-impulse spacecraft thrusters and other technologies.
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Emergen Research has segmented global space propulsion system market on the basis of component, spacecraft type, propulsion type, orbital path, end-use, and region:
- Component Outlook (Revenue, USD Billion; 2018–2028)
- Thrusters
- Rocket Motors
- Propellant Feed Systems
- Propulsion Thermal Control
- Nozzles
- Power Processing Units
- Others
- Spacecraft Type Outlook (Revenue, USD Billion; 2018–2028)
- Satellites
- Capsules
- Rovers
- Interplanetary Spacecraft Probes
- Launch Vehicles
- Propulsion Type Outlook (Revenue, USD Billion; 2018–2028)
- Chemical Propulsion
- Non-Chemical Propulsion
- Solar Propulsion
- Electric Propulsion
- Tether Propulsion
- Laser Propulsion
- Nuclear Propulsion
- Orbital Path Outlook (Revenue, USD Billion; 2018–2028)
- LEO
- MEO
- GEO
- Others
- End-use Outlook (Revenue, USD Billion; 2018–2028)
- Government Defense
- Commercial
Regional Outlook: (Revenue, USD Billion; 2018-2028)
North America (U.S.) (Canada) (Mexico)
Europe (Germany) (UK) (France) (BENELUX) (Rest of Europe)
Asia Pacific (China) (Japan) (South Korea) (Rest of APAC)
Latin America (Brazil) (Rest of LATAM)
The study explores in details about the recent trend fast gaining momentum in the Space Propulsion System industry due to factors including but not limited to growing customer preference and a sudden rise in their spending capacity. Aspects attributed to the gross margin, profit, supply chain management and product value and their considerable impact on the development of the Space Propulsion System market during the forecast period, 2020 – 2027 is carefully scrutinized during the research.
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