Global Satellite Propulsion System Market Size study, by Platform (Satellite, Launch Vehicle), by Propulsion Type (Chemical Propulsion, Non-Chemical Propulsion), by Component (Thrusters, Propellant Feed System, Nozzle), and Regional Forecasts 2022-2032

Description

The Global Satellite Propulsion System Market is valued at approximately USD 10.6 billion in 2023 and is projected to exhibit a robust compound annual growth rate (CAGR) of 11.3% during the forecast period 2024-2032. Satellite propulsion systems are vital for the successful deployment, orbit adjustments, and decommissioning of satellites. They are pivotal in providing the thrust required to position and maneuver satellites in their designated orbits, ensuring optimal performance and longevity. The advent of advanced propulsion technologies such as electric propulsion and green propellants has opened new avenues for innovation, offering enhanced efficiency and reduced environmental impact.

The increasing demand for communication, Earth observation, and navigation satellites has been instrumental in driving the market. For instance, the emergence of mega-constellation projects like SpaceX's Starlink and OneWeb has created a surge in the deployment of Low Earth Orbit (LEO) satellites, fueling the demand for sophisticated propulsion systems. Additionally, governmental initiatives and collaborations between space agencies and private enterprises are fostering technological advancements in propulsion systems. However, the significant cost of propulsion system development and integration, coupled with stringent regulatory frameworks, presents challenges to market growth.

The market is witnessing a transition towards non-chemical propulsion systems, including electric propulsion technologies like ion thrusters and Hall-effect thrusters. These technologies offer higher efficiency and lower weight compared to traditional chemical propulsion, making them an attractive choice for modern satellite designs. Investments in research and development activities by major space organizations and private companies are further propelling this trend. For example, agencies like NASA and ESA have been at the forefront of promoting the development of sustainable propulsion systems. Despite these advancements, the high initial cost of deploying electric propulsion systems may limit their adoption among smaller satellite operators.

The regional analysis of the Satellite Propulsion System Market highlights the dominance of North America, driven by the presence of established players like Boeing and Aerojet Rocketdyne and significant governmental support for space exploration. Europe follows closely, with substantial investments in space programs and a robust manufacturing ecosystem. The Asia Pacific region is expected to witness the fastest growth during the forecast period, fueled by increasing space activities in countries like China, India, and Japan. These nations are actively investing in their space programs, with ambitious plans for satellite launches, lunar missions, and interplanetary exploration, creating a fertile ground for market expansion.

Major market players included in this report are:

Boeing
Aerojet Rocketdyne
Safran S.A.
Airbus SE
Lockheed Martin Corporation
SpaceX
Northrop Grumman Corporation
Blue Origin
Rocket Lab USA, Inc.
OHB SE
Mitsubishi Electric Corporation
IHI Corporation
VACCO Industries
Moog Inc.
Thales Alenia Space

The detailed segments and sub-segment of the market are explained below:

By Platform

Satellite
Launch Vehicle

By Propulsion Type

Chemical Propulsion
Non-Chemical Propulsion

By Component

Thrusters
Propellant Feed System
Nozzle

By Orbit

Low Earth Orbit (LEO)
Medium Earth Orbit (MEO)
Geostationary Orbit (GEO)
Others

By End User

Commercial
Military
Government

By Support Service

Integration Services
Maintenance

By Region:

North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market estimates and forecasts 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 approaches.
Analysis of the competitive structure of the market.
Demand-side and supply-side analysis of the

Chapter 1. Global Satellite Propulsion System Market Executive Summary

1.1. Global Satellite Propulsion System Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Platform, Propulsion Type, Component, Orbit, End User & Support Service
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Satellite Propulsion System 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 Satellite Propulsion System Market Dynamics

3.1. Market Drivers
- 3.1.1. Rising Demand for Satellite Deployment and Orbit Adjustments
- 3.1.2. Governmental and Commercial Investments in Space Exploration
- 3.1.3. Advancements in Propulsion Technologies (Electric & Green Propellants)
3.2. Market Challenges
- 3.2.1. High Development and Integration Costs
- 3.2.2. Stringent Regulatory Frameworks
3.3. Market Opportunities
- 3.3.1. Emergence of Mega-Constellation Projects
- 3.3.2. Technological Transition to Non-Chemical Propulsion Systems
- 3.3.3. Collaborative Initiatives Between Space Agencies and Private Enterprises

Chapter 4. Global Satellite Propulsion System 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 Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Satellite Propulsion System Market Size & Forecasts by Platform 2022-2032

5.1. Segment Dashboard
5.2. Global Satellite Propulsion System Market: Platform Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Satellite
- 5.2.2. Launch Vehicle

Chapter 6. Global Satellite Propulsion System Market Size & Forecasts by Propulsion Type 2022-2032

6.1. Segment Dashboard
6.2. Global Satellite Propulsion System Market: Propulsion Type Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Chemical Propulsion
- 6.2.2. Non-Chemical Propulsion

Chapter 7. Global Satellite Propulsion System Market Size & Forecasts by Component, Orbit, End User & Support Service 2022-2032

7.1. Segment Dashboard
7.2. Global Satellite Propulsion System Market: Component Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 7.2.1. Thrusters
- 7.2.2. Propellant Feed System
- 7.2.3. Nozzle
7.3. Global Satellite Propulsion System Market: Orbit Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 7.3.1. Low Earth Orbit (LEO)
- 7.3.2. Medium Earth Orbit (MEO)
- 7.3.3. Geostationary Orbit (GEO)
- 7.3.4. Others
7.4. Global Satellite Propulsion System Market: End User Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 7.4.1. Commercial
- 7.4.2. Military
- 7.4.3. Government
7.5. Global Satellite Propulsion System Market: Support Service Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 7.5.1. Integration Services
- 7.5.2. Maintenance

Chapter 8. Global Satellite Propulsion System Market by Region 2022-2032

8.1. North America Satellite Propulsion System Market
- 8.1.1. U.S. Satellite Propulsion System Market
  - 8.1.1.1. Platform/Propulsion Type Breakup & Forecasts, 2022-2032
  - 8.1.1.2. Component/Orbit/End User & Support Service Breakup & Forecasts, 2022-2032
- 8.1.2. Canada Satellite Propulsion System Market
8.2. Europe Satellite Propulsion System Market
- 8.2.1. U.K. Satellite Propulsion System Market
- 8.2.2. Germany Satellite Propulsion System Market
- 8.2.3. France Satellite Propulsion System Market
- 8.2.4. Italy Satellite Propulsion System Market
- 8.2.5. Rest of Europe Satellite Propulsion System Market
8.3. Asia-Pacific Satellite Propulsion System Market
- 8.3.1. China Satellite Propulsion System Market
- 8.3.2. India Satellite Propulsion System Market
- 8.3.3. Japan Satellite Propulsion System Market
- 8.3.4. South Korea Satellite Propulsion System Market
- 8.3.5. Rest of Asia-Pacific Satellite Propulsion System Market
8.4. Latin America Satellite Propulsion System Market
- 8.4.1. Brazil Satellite Propulsion System Market
- 8.4.2. Mexico Satellite Propulsion System Market
- 8.4.3. Rest of Latin America Satellite Propulsion System Market
8.5. Middle East & Africa Satellite Propulsion System Market
- 8.5.1. Saudi Arabia Satellite Propulsion System Market
- 8.5.2. South Africa Satellite Propulsion System Market
- 8.5.3. Rest of Middle East & Africa Satellite Propulsion System Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
9.2. Top Market Strategies
9.3. Company Profiles

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