PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1543706
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1543706
Global Electric Propulsion Systems Market Size study, by Propulsion, by Component, by Application and Regional Forecasts 2022-2032
Global Electric Propulsion Systems Market is valued approximately at USD 9.45 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 6.03% over the forecast period 2024-2032. Electric propulsion systems utilize electrical energy to generate thrust, primarily through the interaction of electric and magnetic fields. These systems are widely used in spacecraft and some modern maritime vessels. Key components of these systems include power sources, electric motors, and propellant. They offer significant advantages such as high efficiency and the ability to operate in the vacuum environment of space. However, their primary limitation is the relatively low thrust compared to traditional chemical propulsion, making them more suitable for long-duration missions.
The Global Electric Propulsion Systems Market is poised for significant growth driven by several key factors. Stringent environmental regulations are increasing the demand for cleaner propulsion technologies, while technological advancements are continually enhancing the efficiency and performance of electric propulsion systems. Additionally, government incentives are encouraging the adoption of electric propulsion across various industries. In the aerospace sector, there is a strong push for fuel-efficient propulsion alternatives to traditional systems. However, the market faces challenges, including the high initial costs of electric propulsion systems which deter widespread adoption, and the limited infrastructure for charging stations which hinders growth.
The key regions considered for the Global Electric Propulsion Systems Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, Europe dominated the global electric propulsion systems market attributed to rising environmental consciousness and supportive government incentives. Major European space agencies, such as the European Space Agency (ESA) and various national agencies, are actively investing in the development of advanced electric propulsion technologies. The presence of leading aerospace companies and research institutions in Europe, along with favorable government policies and funding initiatives, is expected to further drive the adoption of electric propulsion systems for various space missions and satellite applications in the region.
Major market players included in this report are:
- General Electric
- Honeywell Aerospace
- L3 Harris
- Mars Space Ltd.
- Mitsubishi Electric Corporation
- Safran
- Sitael S.p.A.
- Thales
- Accion Systems Inc.
- Airbus Defence and Space
- Busek Co. Inc.
The detailed segments and sub-segment of the market are explained below:
By Propulsion
- Hybrid
- Full-electric
By Component
- Electric Motor
- Battery
- Controller/Inverter
- Propeller/Thruster
By Application
- Aerospace
- Marine
- Automotive
- Industrial Machinery
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- RoLA
- Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market
Table of Contents
Chapter 1. Global Electric Propulsion Systems Market Executive Summary
- 1.1. Global Electric Propulsion Systems Market Size & Forecast (2022-2032)
- 1.2. Regional Summary
- 1.3. Segmental Summary
- 1.3.1. By Propulsion
- 1.3.2. By Component
- 1.3.3. By Application
- 1.4. Key Trends
- 1.5. Recession Impact
- 1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Electric Propulsion Systems Market Definition and Research Assumptions
- 2.1. Research Objective
- 2.2. Market Definition
- 2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
- 2.3.3.1. Availability
- 2.3.3.2. Infrastructure
- 2.3.3.3. Regulatory Environment
- 2.3.3.4. Market Competition
- 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
- 2.3.4.1. Regulatory frameworks
- 2.3.4.2. Technological Advancements
- 2.3.4.3. Environmental Considerations
- 2.3.4.4. Consumer Awareness & Acceptance
- 2.4. Estimation Methodology
- 2.5. Years Considered for the Study
- 2.6. Currency Conversion Rates
Chapter 3. Global Electric Propulsion Systems Market Dynamics
- 3.1. Market Drivers
- 3.1.1. Stringent Environmental Regulations
- 3.1.2. Technological Advancements
- 3.1.3. Government Incentives
- 3.2. Market Challenges
- 3.2.1. High Initial Costs
- 3.2.2. Limited Charging Infrastructure
- 3.3. Market Opportunities
- 3.3.1. Investment in R&D
- 3.3.2. Development of Advanced Technologies
- 3.3.3. Expansion into New Applications
Chapter 4. Global Electric Propulsion Systems Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top Investment Opportunity
- 4.4. Top Winning Strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Electric Propulsion Systems Market Size & Forecasts by Propulsion 2022-2032
- 5.1. Segment Dashboard
- 5.2. Global Electric Propulsion Systems Market: Propulsion Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Hybrid
- 5.2.2. Full-electric
Chapter 6. Global Electric Propulsion Systems Market Size & Forecasts by Component 2022-2032
- 6.1. Segment Dashboard
- 6.2. Global Electric Propulsion Systems Market: Component Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Electric Motor
- 6.2.2. Battery
- 6.2.3. Controller/Inverter
- 6.2.4. Propeller/Thruster
Chapter 7. Global Electric Propulsion Systems Market Size & Forecasts by Application 2022-2032
- 7.1. Segment Dashboard
- 7.2. Global Electric Propulsion Systems Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Aerospace
- 7.2.2. Marine
- 7.2.3. Automotive
- 7.2.4. Industrial Machinery
Chapter 8. Global Electric Propulsion Systems Market Size & Forecasts by Region 2022-2032
- 8.1. North America Electric Propulsion Systems Market
- 8.1.1. U.S. Electric Propulsion Systems Market
- 8.1.1.1. Propulsion breakdown size & forecasts, 2022-2032
- 8.1.1.2. Component breakdown size & forecasts, 2022-2032
- 8.1.1.3. Application breakdown size & forecasts, 2022-2032
- 8.1.2. Canada Electric Propulsion Systems Market
- 8.1.2.1. Propulsion breakdown size & forecasts, 2022-2032
- 8.1.2.2. Component breakdown size & forecasts, 2022-2032
- 8.1.2.3. Application breakdown size & forecasts, 2022-2032
- 8.1.1. U.S. Electric Propulsion Systems Market
- 8.2. Europe Electric Propulsion Systems Market
- 8.2.1. U.K. Electric Propulsion Systems Market
- 8.2.2. Germany Electric Propulsion Systems Market
- 8.2.3. France Electric Propulsion Systems Market
- 8.2.4. Spain Electric Propulsion Systems Market
- 8.2.5. Italy Electric Propulsion Systems Market
- 8.2.6. Rest of Europe Electric Propulsion Systems Market
- 8.3. Asia-Pacific Electric Propulsion Systems Market
- 8.3.1. China Electric Propulsion Systems Market
- 8.3.2. India Electric Propulsion Systems Market
- 8.3.3. Japan Electric Propulsion Systems Market
- 8.3.4. Australia Electric Propulsion Systems Market
- 8.3.5. South Korea Electric Propulsion Systems Market
- 8.3.6. Rest of Asia Pacific Electric Propulsion Systems Market
- 8.4. Latin America Electric Propulsion Systems Market
- 8.4.1. Brazil Electric Propulsion Systems Market
- 8.4.2. Mexico Electric Propulsion Systems Market
- 8.4.3. Rest of Latin America Electric Propulsion Systems Market
- 8.5. Middle East & Africa Electric Propulsion Systems Market
- 8.5.1. Saudi Arabia Electric Propulsion Systems Market
- 8.5.2. South Africa Electric Propulsion Systems Market
- 8.5.3. Rest of Middle East & Africa Electric Propulsion Systems Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. General Electric
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Market Strategies
- 9.3.2. Honeywell Aerospace
- 9.3.3. L3 Harris
- 9.3.4. Mars Space Ltd.
- 9.3.5. Mitsubishi Electric Corporation
- 9.3.6. Safran
- 9.3.7. Sitael S.p.A.
- 9.3.8. Thales
- 9.3.9. Accion Systems Inc.
- 9.3.10. Airbus Defence and Space
- 9.3.11. Busek Co. Inc
- 9.3.1. General Electric
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
