PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1650861
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1650861
The Satellite Propulsion market is estimated in terms of market size to be USD 2.60 billion in 2024 to USD 5.19 billion by 2030, at a CAGR of 12.2%. The satellite propulsion market is driven by the increasing advancemnts in propulsion technology. Manufacturers are focusing on developing efficient and cost effective propulsion technologies such as electric propulsion, which lower the fuel mass and allows more payload capacity. Additionally, the demand for sustainable propulsion technology drives the development of green propulsion which addresses environmental concerns and comply with regulations.
Scope of the Report | |
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Years Considered for the Study | 2020-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Units Considered | Value (USD Billion) |
Segments | Platform, System, Propulsion Technology, End User and Region |
Regions covered | North America, Europe, APAC, RoW |
"The Commercial segment will account for the largest market share in the Satellite Propulsion market during the forecast period."
The Commercial segment in satellite propulsion market is expected to grow at highest CAGR during the forecast period. This growth is attributed to the increasing demand for satellite based internet services in remote areas. Additionally, cost-effective propulsion technologies such as electric propulsion, enables small players to enter the market with affordable satellite launch. The increasing deployment of satellites for monitoring climate change, agriculture and resource mapping applications also contributing the growth of satellite propulsion market for commercial segment.
"The Asia Pacific market is estimated to lead the market."
The Asia Pacific Satellite Propulsion market is expected to lead the market during the forecast period of 2024-2030. The region has a strong and developed space industry in place. Investment in the space industry in Asia Pacific has increased continuously in recent years. Australia is the fastest-growing country in the Asia Pacific Satellite Propulsion market. Various factors, like increasing satellite deployment, rising demand for satellite based internet, demand for advanced propulsion technologies contribute to the region's dominance.
Breakdown of primaries
Northrop Grumman (US), Safran SA (France), Thales Alenia Space (France), L3Harris Technologies, Inc. (US), and Airbus (France) are some of the leading players operating in the Satellite Propulsion market.
Research Coverage
The study covers the Satellite Propulsion market across various segments and subsegments. It aims to estimate the size and growth potential of this market across different segments based on propulsion, capacity, operation, and region. This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their solutions and business offerings, recent developments undertaken by them, and key market strategies adopted by them.
This report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Satellite Propulsion market and its subsegments. The report covers the entire ecosystem of the Satellite Propulsion market. It will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.