Global Satellite Propulsion System Market Size By System Type (Bipropellant Propulsion System, Monopropellant Propulsion System), By Application (Applications Satellite, Science Satellite), By Propulsion Type (Cold Gas Propulsion, Ambipolar Thrusters), By Geographic Scope And Forecast

Satellite Propulsion System Market Size And Forecast

Satellite Propulsion System Market size was valued at USD 2.61 Billion in 2024 and is projected to reach USD 4.14 Billion by 2031, growing at a CAGR of 6.51% during the forecast period 2024-2031.

Space agencies are constantly looking to exploit private-sector collaborations to achieve their objectives more cost-effectively while promoting sustainable space exploration, this growth of space expeditions and commercial use of satellites is driving the growth of the market. The Global Satellite Propulsion System Market report provides a holistic evaluation of the market. Spacecraft propulsion helps to alter the speed of the spacecraft and artificial satellites. In-space propulsion deals with systems that can work in a vacuum, while space launch and climatic entry deal with the environment. The essential factor affecting the satellite drive system in the market is the rising number of assignments for space exploration. Technological improvements in space propulsion are driving the development of the Satellite propulsion system market.

Global Satellite Propulsion System Market Definition

A satellite is a semi-independent, computer-controlled, artificial device that is launched into the earth’s orbit. Popular types of satellites include commercial, military, and surveillance, serving various purposes including science, weather, navigation, and communication. The satellites are also deployed for unique purposes in various orbits. The satellite data is used in various applications, such as urban development, maritime security, mineral prospecting, and agriculture.

The satellites are launched via launch vehicles into the earth’s orbits. They use boosters to supply early thrust and reduce the mass of further stages, thus allowing for larger payloads to be carried into the orbit. Not only the launch pads but also the satellites in the orbit need propulsion systems used to accelerate/power into the orbit. Satellite propulsion systems are designed to provide precise impulse bits for accurate control of satellite locations or altitudes.

Global Satellite Propulsion System Market Overview

The space exploration business has changed substantially in the last fifteen years, with space startups and private companies joining governments to create and launch satellites and other spacecraft with the launch vehicles. The demand for propulsion systems in space has therefore increased. Driven by initiatives in leading countries and new countries investing in space exploration, global investment has increased in the last few years.

The demand for low-cost, high-speed broadband with expanded capacity for enterprise data (retail, keeping the money), the energy sector (oil, gas, mining), and governments in industrialized nations are developing. Thus, there is an increase in demand for low-cost broadband among person consumers in less developed countries and rural regions that will not have access to the Internet. Also, there is a high demand for low-cost, high-speed broadband in industrialized countries, and on the off chance that all planned GEO HTS satellites and LEO groups of stars succeed, the supply could be much higher than the anticipated demand, which would drive down the per megabit cost.

Global space exploration budgets are expected to grow to over $20 billion by 2027 in a still restrained budgetary environment. Space exploration draws interest not only from a rising number of governments but also from the private sector; start-ups to large businesses are trying to explore the economic potential of exploration activities. Space agencies are constantly looking to exploit private-sector collaborations to achieve their objectives more cost-effectively while promoting sustainable space exploration, this growth of space expeditions and commercial use of satellites is driving the growth of the market.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the global Satellite Propulsion System market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in global Satellite Propulsion System market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Global Satellite Propulsion System MarketSegmentation Analysis

The Global Satellite Propulsion System Market is segmented on the basis of System Type, Application, Propulsion Type, and geography.

Satellite Propulsion System Market, By System Type

• Bipropellant Propulsion System
• Monopropellant Propulsion System
• Pneumatic Propulsion System
• Others

Based on System Type, the market is segmented into Bipropellant Propulsion System, Monopropellant Propulsion System, Pneumatic Propulsion System, and Others. The bipropellant segment accounted for the largest market share in 2019 and is projected to grow at a CAGR of 4.85% during the forecast period. Bipropellant propulsion systems for satellite injections and orbit corrections have been used since the late 1960s. It was soon recognized that bipropellant propulsion systems offered higher specific impulses with respect to the traditional solid/monopropellant systems and allowed to increase the payload capability.

Satellite Propulsion System Market, By Application

• Applications Satellite
• Science Satellite
• Technology Experiment Satellite

To Learn More By Application-

Based on Application, the market is segmented into Applications Satellite, Science Satellite, and Technology Experiment Satellite. Applications Satellite segment accounted for the largest market share in 2019 and is projected to grow at a CAGR of 7.71% during the forecast period. Science Satellite was the second-largest market in 2019 and it is projected to grow at a CAGR of 4.43%.

Satellite Propulsion System Market, By Propulsion Type

• Cold Gas Propulsion
• Ambipolar Thrusters
• Green Liquid
• Pulsed Plasma Propulsion
• Water Electrolyzed
• Others

Based on Propulsion Type, the market is segmented into Cold Gas Propulsion, Ambipolar Thrusters, Green Liquid, Pulsed Plasma Propulsion, Water Electrolyzed, and Others. Cold Gas Propulsion accounted for the largest market share in 2019 and is projected to grow at a CAGR of 6.16% during the forecast period. Cold gas propulsion technology relies on expanding the gas to produce thrust through a nozzle. It allows the propellant to flow from a propellant storage tank to a converging/diverging nozzle from which it expands into open space. Furthermore, cold gas propulsion systems are characterized by a low specific impulse of tens to a few hundred seconds, depending on the propellant atomic mass, relative to chemical or electric propulsion systems.

Satellite Propulsion System Market, By Geography

• North America
• Asia-Pacific
• Europe
• Rest of the World

To Learn More By Geography-

On the basis of Regional Analysis, the North American market was anticipated to account for the significant Satellite Propulsion System Market Share. Further, this region is estimated to produce the highest CAGR for the inquiry about time period. This is due to prominent space organizations like NASA (National Air transportation and Space Organization). This region too has the presence of leading satellite drive system suppliers likeAerojetRocketdyneand Boeing, which is moving the development of the regional market.

Key Players

The “Global Satellite Propulsion System Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as Moog Inc., ENPULSION GmbH, Exotrail SA, Aerojet Rocketdyne, Airbus SE, BALL CORPORATION, Bellatrix Aerospace Private Limited, Busek Co. Inc., and Cobham PLC. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments