PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1628056
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1628056
Electric Propulsion Satellites Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032
The Global Electric Propulsion Satellites Market reached USD 42.9 billion in 2023 and is projected to grow at a CAGR of 12.1% from 2024 to 2032. This growth is fueled by advancements in propulsion efficiency, rising demand for lighter satellites, and a focus on cost-effective space operations. Electric propulsion systems reduce fuel requirements by up to 90% compared to chemical propulsion, cutting launch mass and associated costs. This not only extends mission durations but also allows for increased payload capacity, advantageous for operators managing satellite constellations.
As the satellite industry transitions from chemical to electric propulsion, the need for precision orbital control and fuel efficiency in geostationary and LEO satellite constellations is becoming essential. Electric propulsion supports longer operational lifespans, bringing benefits to both commercial and scientific missions. However, the industry still faces challenges, including high development costs, technical hurdles, and barriers to entry for smaller players. Nonetheless, growth opportunities are emerging, driven by heightened demand for satellite services, global broadband access, and Earth observation initiatives. Supportive regulations and a push for sustainability in aerospace add further momentum, as electric propulsion systems have a lower environmental impact compared to traditional options, positioning the market favorably for long-term growth.
The market is segmented by satellite type into fully electric and hybrid propulsion systems, with the hybrid segment anticipated to grow at a CAGR of over 13% during the forecast period. Hybrid systems combine the high-thrust capabilities of chemical propulsion for initial orbit insertion with the fuel efficiency of electric impulsion for enduring maneuvers and station-keeping, enhancing overall satellite performance and efficiency. Investment in hybrid propulsion is rising as demand grows for satellite-based broadband and Earth observation services.
| Market Scope | |
|---|---|
| Start Year | 2023 |
| Forecast Year | 2024-2032 |
| Start Value | $42.9 Billion |
| Forecast Value | $115.3 Billion |
| CAGR | 12.1% |
Based on end-use, the market is divided into government and commercial segments, with the commercial segment dominating, generating over USD 41 billion in 2023. The expansion of satellite internet services is a significant need in the commercial sector, with companies needing efficient propulsion to sustain their satellite constellations. The commercial segment also sees rising investment in Earth observation satellites and data services, where satellite data is increasingly utilized for applications in agriculture, climate monitoring, and disaster management.
North America led the electric propulsion satellites market, holding over 39.5% share in 2023. The rapid growth in the U.S. market is propelled by advancements in technology, increasing satellite service demands, and substantial investments from both government and private sectors. The region's focus on launching large satellite networks for broadband internet, Earth observation, and other services continues to support its leading position in the global market.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope & definitions
- 1.2 Base estimates & calculations
- 1.3 Forecast calculations
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Industry synopsis, 2021-2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Factor affecting the value chain
- 3.1.2 Profit margin analysis
- 3.1.3 Disruptions
- 3.1.4 Future outlook
- 3.1.5 Manufacturers
- 3.1.6 Distributors
- 3.2 Supplier landscape
- 3.3 Profit margin analysis
- 3.4 Key news & initiatives
- 3.5 Regulatory landscape
- 3.6 Impact forces
- 3.6.1 Growth drivers
- 3.6.1.1 Increased demand for high-efficiency satellite operations
- 3.6.1.2 Rising need for cost-effective launch solutions
- 3.6.1.3 Growing space launches for defense and commercial application
- 3.6.1.4 Advancements in electric propulsion technologies
- 3.6.1.5 Growth in small satellite and mega constellation deployments
- 3.6.2 Industry pitfalls & challenges
- 3.6.2.1 High initial development and implementation costs
- 3.6.2.2 Technical limitations and performance concerns
- 3.6.1 Growth drivers
- 3.7 Growth potential analysis
- 3.8 Porter's analysis
- 3.9 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Orbit, 2021-2032 (USD Million)
- 5.1 Key trends
- 5.2 Low Earth Orbit (LEO)
- 5.3 Medium Earth Orbit (MEO)
- 5.4 Geostationary Orbit (GEO)
Chapter 6 Market Estimates & Forecast, By Satellite Type, 2021-2032 (USD Million)
- 6.1 Key trends
- 6.2 Full Electric
- 6.3 Hybrid
Chapter 7 Market Estimates & Forecast, By Satellite Mass, 2021-2032 (USD Million)
- 7.1 Key trends
- 7.2 Less than 100 kg
- 7.3 100 -500 KG
- 7.4 500 -1000 Kg
- 7.5 Above 1000 Kg
Chapter 8 Market Estimates & Forecast, By Propulsion, 2021-2032 (USD Million)
- 8.1 Key trends
- 8.2 Electrothermal
- 8.3 Electrostatic
- 8.4 Electromagnetic
- 8.5 Others
Chapter 9 Market Estimates & Forecast, By Application, 2021-2032 (USD Million)
- 9.1 Key trends
- 9.2 Earth Observation
- 9.3 Navigation
- 9.4 Communication
- 9.5 Weather Monitoring
- 9.6 Others
Chapter 10 Market Estimates & Forecast, By End Use, 2021-2032 (USD Million)
- 10.1 Key trends
- 10.2 Government
- 10.2.1 Military
- 10.2.2 Others
- 10.3 Commercial
Chapter 11 Market Estimates & Forecast, By Region, 2021-2032 (USD Million)
- 11.1 Key trends
- 11.2 North America
- 11.2.1 U.S.
- 11.2.2 Canada
- 11.3 Europe
- 11.3.1 UK
- 11.3.2 Germany
- 11.3.3 France
- 11.3.4 Italy
- 11.3.5 Spain
- 11.3.6 Russia
- 11.4 Asia Pacific
- 11.4.1 China
- 11.4.2 India
- 11.4.3 Japan
- 11.4.4 South Korea
- 11.4.5 Australia
- 11.5 Latin America
- 11.5.1 Brazil
- 11.5.2 Mexico
- 11.6 MEA
- 11.6.1 South Africa
- 11.6.2 Saudi Arabia
- 11.6.3 UAE
Chapter 12 Company Profiles
- 12.1 Accion Systems
- 12.2 Ad Astra Rocket
- 12.3 Aerojet Rocketdyne
- 12.4 Airbus
- 12.5 ArianeGroup
- 12.6 Bellatrix Aerospace
- 12.7 Boeing
- 12.8 Busek
- 12.9 L3Harris Technologies
- 12.10 Lockheed Martin
- 12.11 Northrop Grumman
- 12.12 OHB System
- 12.13 Safran Group
- 12.14 Sitael
- 12.15 Thales Alenia Space
- 12.16 ThrustMe
