Global Space Propulsion Market

Space propulsion or in-space propulsion is solely concerned with the space vacuum propulsion systems used and should not be confused with the launch vehicles. Spacecraft Propulsion is any device that is used to propel spacecraft and artificial satellites. . The market is driven by Government and private sector projects, Demand for low-cost small satellites and reusable space launch vehicle production. The key players of the global Space propulsion market have adopted various strategies to gain competitive advantage including product launch, mergers and acquisition, partnerships and agreements, investment, funding and others. For instance, In May 2020, Aerojet Rocketdyne supplied the dual chemical and electric propulsion systems for NASA’s Double Asteroid Redirection Test (DART) to the Johns Hopkins Applied Physics Laboratory (APL). However, government policies directly or indirectly impact the growth of the small satellite environment and industry at the national and international levels. Moreover, The US government is investing in every aspect of the small-sat ecosystem and is expected to continue investing in the upstream and downstream sectors. In many countries, government spending, generally in R&D and start-ups, is seen not only as a way of addressing societal problems but also as a way of promoting independence from imports and ultimately becoming a global provider of solutions across multiple sectors, including space. Many governments also understand that, like the one in the US, they do not have a well-developed venture sector and thus provide funds for venture capital ( VC).

Global Space Propulsion Market is valued at approximately USD 5.8 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.7 % over the forecast period 2020-2027.

The regional analysis of the global Space Propulsion Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and the Rest of the World. North America is the leading/significant region across the world in terms of Demand for low-cost small satellites and reusable space launch vehicle production. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as Government and private sector projects would create lucrative growth prospects for the Space Propulsion Market across the Asia-Pacific region.

Major market players included in this report are: OHB SE, ACCION SYSTEM, BOEING, NORTHROP GRUMMAN CORPORATION, MAXAR TECHNOLOGIES, THALES ALENIA SPACE, AIRBUS DEFENSE AND SPACE, VACCO INDUSTRIES, MOOG INC, COBHAM MISSION SYSTEMS WIMBORNE LIMITED

The detailed segments and sub-segment of the market are explained below:
By Platform: Satellites, CapsulesCargos, Interplanetary Spacecraft & Probes, Rovers/Spacecraft Landers, Launch Vehicles

By System Component: Chemical Propulsion Thrusters, Electric Propulsion Thrusters, Propellant Feed Systems,
Rocket Motors, Nozzles, Propulsion Thermal Control, Power Processing Units, Others
By Propulsion Type: Chemical Propulsion, Non-chemical Propulsion
By End user: Commercial, Government & Defense
By Support service: Design, Engineering, & Operation, Hot Firing & Environmental Test Execution, Fueling & Launch Support
By Orbit: Low Earth orbit (LEO), Medium Earth orbit (MEO), Geostationary Earth Orbit (GEO), Beyond Geosynchronous Orbit
By Region: North America, Europe, Asia Pacific, Rest of the World

Furthermore, the years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Space Propulsion Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

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Bizwit Research & Consulting LLP