Space Propulsion Systems Market Research Information By Type (Satellite and Launch Vehicle), End-User (Commercial, Government & Military), and Region (North America, Europe, Asia-Pacific, Middle East & Africa)- Global Forecast to 2025
The Global Space Propulsion Systems Market is projected to be valued at USD 5.69 Billion by 2025, expanding at a CAGR of 14.8% between 2019 and 2025.
The market witnessed significant traction in recent years owing to various countries launching their own earth observatory satellites. Currently, space propulsion technology is in a nascent stage and various efforts by governments and private companies have been made to commercialize different propulsion technologies that are efficient and low cost. Technological breakthroughs such as EmDrive are expected to occur during the forecast period which is expected to change the landscape and dynamics of the space propulsion systems market.
Traditional space propulsion systems use oxygen fuel as propellant. In recent years, extensive research is been carried out to develop commercial EmDrive propulsion systems. As of now, EmDrive is a theoretical concept which is expected to be commercially developed during the forecast period. The EmDrive works on the principle of converting electrical energy to microwaves and channeling these waves through a conical chamber. The commercialization of such technology would prove a breakthrough in the field of modern propulsion systems technology.
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Various private companies and government agencies investing in research & development of space technologies.
Growth Opportunities in the Market
- Dominance of satellite propulsion systems in the market: The satellite propulsion systems segment dominated the global space propulsion systems market in 2018 and this trend is expected to continue during the forecast period. Moreover, the development of all-electric satellites is expected to drive the segmental growth during the forecast period. Thus, it is expected to replace traditional chemical-based propulsion systems. The satellite propulsion systems accounted for more than 51% share of the space propulsion systems market.
- The government expected to actively invest in space technologies: The government segment is expected to register the highest CAGR during the forecast period. Governments are actively launching satellites for earth observation and communication purposes. For instance, US-based Defense Advanced Research Projects Agency (DARPA) launched a small satellite through Rocket Lab, a commercial small satellite launch service provider. The satellite was launched to improve radio communication in the military.
- High cost of investment
- High risk of failure
- Accion Systems Inc. (US)
- Aerojet Rocketdyne (US)
- Avio SpA (Italy)
- Blue Origin (US)
- IHI Corporation (Japan)
- Moog Inc. (US)
- Northrop Grumman Corporation (US)
- OHB SE (Germany)
- Safran (France)
- Sierra Nevada Corporation (US)
- Space Exploration Technologies Corporation (US)
- Yuzhnoye SDO (Ukraine)
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Table of Contents
1. Executive Summary
1.1. Market Attractiveness Analysis
1.2. Global Space Propulsion System Market, by Type
1.3. Global Space Propulsion System Market, by End User
1.4. Global Space Propulsion System Market, by Region
2. Market Introduction
2.1. Market Definition
2.2. Scope of the Study
2.2.1. Research Objectives
2.2.2. Assumptions & Limitations
2.3. Market Structure
3. Market Research Methodology
3.1. Research Process
3.2. Secondary Research
3.3. Primary Research
3.4. Forecast Model
4. Market Landscape
4.1. Supply Chain Analysis
4.2. Porter’s Five Forces Analysis
List of Tables
Table 1 Global Space Propulsion System Market, by Type, 2018–2025
Table 2 Global Space Propulsion System Market, by End User, 2018–2025
Table 3 Global Space Propulsion System Market, by Region, 2018–2025
Table 4 North America: Space Propulsion System Market, by Country, 2018–2025
Table 5 North America: Space Propulsion System Market, by Type, 2018–2025
Table 6 North America: Space Propulsion System Market, by End User, 2018–2025
Table 7 Us: Space Propulsion System Market, by Type, 2018–2025
List of Figures
Figure 1 Research Process of Mrfr
Figure 2 Top-down & Bottom-up Approaches
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
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