Space propulsion system is used to provide thrust to rockets, and to monitor and maneuver the artificial satellites. Moreover, after the initial injection from the launcher, the propulsion system is used for orbital control to deploy the satellite at the desired location. It further keeps the satellite in proper location during its active time. When a satellite reaches its end of life (EOL), the propulsion system is utilized to inject it into a distant orbit. Aside from orbit control, the propulsion system is critical for satellite attitude control.
For the purpose of analysis, the space propulsion system market scope covers segmentation based on based on propulsion type, component, platform, and region. The report provides information on various types of propulsion systems such as chemical propulsion and non-chemical propulsion. It further emphasizes on different classes of orbit, including elliptical, GEO, LEO, and MEO. In addition, the major end users covered in the study include civil & earth observation, government & military, and commercial. Moreover, it analyzes the current market trends of space propulsion system across different regions such as North America, Europe, Asia-Pacific, and LAMEA and suggests the future growth opportunities.
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. Value chain analysis for this industry, which includes R&D, components manufacturers, assembly, programming & testing, marketing & sales, customers, and post-sales services, is explained. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.
The key players profiled in this report include Accion Systems, ArianeGroup, IHI Corporation, Moog Inc., Mitsubishi Heavy Industries, Ltd., Northrop Grumman Corporation, OHB SE, Sierra Nevada Corporation, Thales Group, and Vacco Industries
For the purpose of analysis, the space propulsion system market scope covers segmentation based on based on propulsion type, component, platform, and region. The report provides information on various types of propulsion systems such as chemical propulsion and non-chemical propulsion. It further emphasizes on different classes of orbit, including elliptical, GEO, LEO, and MEO. In addition, the major end users covered in the study include civil & earth observation, government & military, and commercial. Moreover, it analyzes the current market trends of space propulsion system across different regions such as North America, Europe, Asia-Pacific, and LAMEA and suggests the future growth opportunities.
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. Value chain analysis for this industry, which includes R&D, components manufacturers, assembly, programming & testing, marketing & sales, customers, and post-sales services, is explained. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.
The key players profiled in this report include Accion Systems, ArianeGroup, IHI Corporation, Moog Inc., Mitsubishi Heavy Industries, Ltd., Northrop Grumman Corporation, OHB SE, Sierra Nevada Corporation, Thales Group, and Vacco Industries
KEY BENEFITS FOR STAKEHOLDERS
- This study presents analytical depiction of the global space propulsion system market analysis along with the current trends and future estimations to depict imminent investment pockets.
- The overall space propulsion system market opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities of the global space propulsion system market with a detailed impact analysis.
- The current space propulsion systemmarket is quantitatively analyzed from 2021 to 2031 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the industry.
Key Market Segments
By Type
- Chemical Propulsion
- Non Chemical Propulsion
By Class of Orbit
- Elliptical
- GEO
- LEO
- MEO
By End User
- Civil and Earth Observation
- Government and Military
- Commercial
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- OHB SE
- Sierra Nevada Corporation
- Thales Group
- Vacco Industries
- Accion Systems
- Ariane Group
- IHI Corporation
- Moog Inc
- Mitsubishi Heavy Industries Ltd
- Northrop Grumman Corporation
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SPACE PROPULSION SYSTEM MARKET, BY TYPE
CHAPTER 5: SPACE PROPULSION SYSTEM MARKET, BY CLASS OF ORBIT
CHAPTER 6: SPACE PROPULSION SYSTEM MARKET, BY END USER
CHAPTER 7: SPACE PROPULSION SYSTEM MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Space Propulsion System Market," the space propulsion system market was valued at $8.9 billion in 2021, and is estimated to reach $32.8 billion by 2031, growing at a CAGR of 14.3% from 2022 to 2031.North America dominates the market, in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. The U.S. dominated the space propulsion system market share in North America in 2020, owing to an increase in R&D activities; technological developments by key players; rapid adoption of innovative technologies in making advanced space propulsion systems. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to surge in space exploration missions across several Asian nations, for instance, China, India, Japan, and South Korea.
The propulsive force is the most important factor in the design and operation of aircraft or spacecraft missions. The propulsion system provides the propulsive force or power required to propel rocket, or other vehicle moving through air or space forward. Fuel tanks, valves, propellant assembly, pressure regulator, thrusters, manifold subsystems, and regulators are all part of the space propulsion system. Several distinct propulsion methods are utilized by several space organizations throughout the world due to the presence of a diverse spectrum of spacecraft and satellites. The usage of a rocket engine or integrated propulsion systems is used for spacecraft and satellite propulsion.
The space propulsion system market has witnessed significant growth in recent years, owing to the development of advanced space propulsion system by key market players. For instance, in July 2021, Sierra Nevada Corporation developed and completed testing of its hypergolic, or storable, liquid rocket propulsion system for orbit transfer, maneuvering, and guidance control.
COVID-19 Impact Analysis
- The COVID-19 impact on the space propulsion system market is unpredictable, and is expected to remain in force for a few years.
- The COVID-19 outbreak forced governments across the globe to implement stringent lockdown and ban import-export of raw material items for most of 2020 & few months in 2021. This led to sudden fall in the availability of important raw materials for manufacturing space propulsion systems and components.
- Moreover, nationwide lockdown forced space propulsion system manufacturing facilities to partially or completely shut their operations.
- Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of advanced space propulsion system components globally.
Key Findings of the Study
- By type, the non-chemical propulsion segment is expected to register significant growth during the forecast period.
- On the class of orbit, the low Earth orbit (LEO) segment is anticipated to exhibit significant growth in the future.
- On the end user, the commercial segment is anticipated to exhibit significant growth in the future.
- Region wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
- The key players that operate in the space propulsion system market include Accion Systems, ArianeGroup, IHI Corporation, Moog Inc., Mitsubishi Heavy Industries, Ltd., Northrop Grumman Corporation, OHB SE, Sierra Nevada Corporation, Thales Group, and Vacco Industries.
Companies Mentioned
- Ohb Se
- Sierra Nevada Corporation
- Thales Group
- Vacco Industries
- Accion Systems
- Ariane Group
- Ihi Corporation
- Moog Inc
- Mitsubishi Heavy Industries Ltd
- Northrop Grumman Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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