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The electric propulsion satellite market size is forecast to increase by USD 10.88 billion at a CAGR of 9.83% between 2023 and 2028. The market is experiencing substantial expansion due to several significant trends and factors. One notable trend is the rising demand for hosted payloads, which enables multiple organizations to utilize the resources of a single satellite, thereby decreasing expenses and enhancing productivity. Another trend is the shift towards eco-friendly and sustainable satellite operations, with electric propulsion technologies gaining traction due to their fuel efficiency and minimal environmental impact. Electric propulsion satellite technology is transforming satellite manufacturing and launch by enabling lighter, more fuel-efficient satellites that can achieve longer mission durations and reduce overall launch costs. However, obstacles persist, including design and manufacturing limitations, as well as the necessity for a combustion-supporting atmosphere during the initial satellite deployment phases. In the defense, telecommunications, satellite-based earth observation, and scientific research sectors, maneuvering satellites using electric propulsion technologies offers numerous advantages, including extended operational lifetimes, enhanced precision, and diminished fuel consumption.
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The market for electric propulsion satellites in North America is witnessing substantial expansion due to the escalating need for earth observation, astronomy, space exploration, and environmental studies in low earth orbit (LEO). The use of small satellites, which are more affordable and simpler to launch, is fueling this market growth. Three prominent types of electric propulsion technologies are gaining favor: electrothermal propulsion, electrostatic propulsion, and electromagnetic propulsion. These eco-friendly propulsion technologies provide enhanced fuel efficiency, extended mission durations, and decreased launch mass. Telemetry tracking and command systems and sophisticated flight software are indispensable components of electric propulsion satellites, enabling satellite maneuvering and position maintenance. Hybrid propulsion systems such as hybrid electric marine propulsion engines, which combine electric and chemical propulsion, are also gaining ground due to their adaptability.
The commercial sector is projected to lead the market, with applications in scientific research, defense, and space-related activities. Reusable launch vehicles and nitrous-oxide-based green propellant are further accelerating the adoption rate of electric propulsion satellites. Overall, the market is set to thrive, fueled by the expanding scope of satellites and space-related activities. Companies are partnering with various organizations to advance hybrid propulsion types and support the launch of new satellites. They are also leveraging grants for research and investment in propulsion complexes and liquid propulsion systems centers.
The electric propulsion satellite market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The military segment is estimated to witness significant growth during the forecast period. Electric propulsion satellites and reusable launch vehicles are essential components in defense applications, providing extended mission capabilities for military surveillance and communication. These satellites enable continuous monitoring of strategic areas, borders, and potential conflict zones through earth-observation and telecommunication. The use of electric propulsion technologies, such as ion thrusters and Hall-effect thrusters, enables maneuvering satellites with precision and efficiency, extending their operational lifetimes beyond traditional combustion-supporting atmosphere systems.
Military forces benefit significantly from these extended mission lifetimes, enabling persistent surveillance, communication, and reconnaissance capabilities. Electric propulsion satellites and satellite propulsion systems ensure reliable and resilient communication channels for military personnel, allowing for real-time information exchange and coordination. Furthermore, they contribute to scientific research and earth-observation applications, providing valuable data for various industries and organizations.
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The military segment accounted for USD 9.62 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 42% to the growth of the global electric propulsion satellite market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market is witnessing significant growth due to its application in various sectors such as defense applications, telecommunication, and earth-observation. In the defense sector, electric propulsion technologies are utilized for maneuvering satellites and maintaining their orbits for extended periods. In the telecommunication industry, these technologies enable the deployment of low-earth orbiting satellites, ensuring reliable and uninterrupted connectivity. Additionally, scientific research organizations use electric propulsion for deep space exploration and satellite constellation formation. North America dominates The market, with the US being the major contributor, owing to its advanced infrastructures and the presence of key players.
Companies are at the forefront of developing reusable space launch vehicles for multiple satellite launch missions, thereby reducing the cost of space travel and increasing accessibility. Furthermore, the growing demand from military and defense organizations in the US and the development of low-cost satellites are significant factors driving market growth in the region.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growing preference for hosted payload is the key driver of electric propulsion satellite market growth. The market encompasses the use of advanced propulsion systems, particularly electromagnetic propulsion, in satellite technology. The structure and mechanisms of these satellites incorporate telemetry tracking and command systems, flight software, and a specialized propulsion system for efficient space-based activities. Electromagnetic propulsion, a key technology in this market, offers improved fuel efficiency and longer operational lifetimes compared to traditional chemical propulsion. Government agencies and defense organizations often adopt a hosted payload approach, where they attach small, independent modules to commercial satellites. This strategy enables cost savings, reduces launch risks, and eliminates the need for building and launching separate dedicated satellites.
For instance, the US Air Force has invested USD 494 million in contracts with 14 companies for hosting payloads on commercial satellites through its Hosted Payload Solutions program. This collaborative approach underscores the growing significance of electric propulsion satellite technology in the aerospace industry.
An increase in sustainable and green satellite operations is the upcoming trend in the electric propulsion satellite market. The market is witnessing significant growth due to the increasing focus on sustainable and green satellite operations. Electric propulsion systems, such as electromagnetic propulsion, offer improved fuel efficiency compared to conventional chemical propulsion systems. This efficiency leads to a reduction in the consumption of propellant, thereby minimizing the emission of harmful gases and particulate matter during space-based activities.
The structure and mechanisms of electric propulsion systems are designed to support telemetry tracking and command, as well as flight software, ensuring optimal performance. These advancements align with the broader goal of reducing the carbon footprint and environmental impact of satellite missions.
Design and manufacturing constraints is a key challenge affecting electric propulsion satellite market growth. The market encompasses the development and deployment of satellites utilizing electromagnetic propulsion systems. The structure and mechanisms of these satellites are intricately designed to withstand the rigors of space environments. Telemetry tracking and command systems ensure optimal performance, while flight software facilitates efficient navigation. Satellite manufacturers encounter challenges in designing and producing electric propulsion satellites due to stringent requirements for size, weight reduction, and high performance and reliability. Miniaturized satellites, such as nano and microsatellites, pose additional challenges due to their size constraints and the need for longer mission life and higher reliability standards. To meet the demands of military and commercial sectors, these satellites must adhere to stringent reliability standards.
However, the need for more mass and power resources for high-capacity systems conflicts with the design constraints of miniaturized satellites. Thermal control system (TCS) and electric power system (EPS) are vital components in hybrid propulsion types, ensuring efficient operation within a combustion-supporting atmosphere at the Liquid Propulsion Systems Centre (LPSC).The electromagnetic propulsion satellite market is expected to grow as advancements in technology continue to address these challenges and expand the capabilities of electric propulsion systems for various space-based activities.
The electric propulsion satellite market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the electric propulsion satellite market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Accion Systems Inc.: The company offers electric propulsion satellites such as tiled ionic liquid electrospray and conventional systems.
The electric propulsion satellite market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Electric propulsion satellites have garnered substantial interest within the international space sector due to their environmentally friendly operation and capacity to prolong the lifespan of satellites in Earth's orbit. These satellites serve various purposes, including earth observation, astronomy, space exploration, environmental studies, and scientific research. The proliferation of electric propulsion technologies is escalating among small satellites and geostationary satellites due to their fuel efficiency and precise maneuvering capabilities. Electric propulsion systems incorporate technologies such as electrothermal propulsion, electrostatic propulsion, and electromagnetic propulsion. The design and functionality of electric propulsion satellites' structures, telemetry tracking & command systems, and flight software are essential for their successful execution in space-related activities. Electric propulsion satellites find utility in defense, telecommunication, earth observation, and scientific research.
The electric propulsion satellite market is undergoing swift expansion, driven by both private entities and organizations like ISRO and DLR. Innovations such as solar electric propulsion and full electric propulsion are revolutionizing satellite engineering. Demonstrations like the Otter Pup satellite and GEOKOMPSAT-3 highlight advancements in electric power systems (EPS) and thermal control systems (TCS). Research and development (RDT&E) continues to expand capabilities in laser designation technology and short wave infrared (SWIR) systems. Furthermore, the altitude control system (ACS) plays a crucial role in optimal performance. With escalating investments in space programs and research grants, focus on orbital debris mitigation and space traffic management, including collision avoidance strategies, is vital for future missions, ensuring essential space situational awareness and effective space debris tracking.
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Market Scope |
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Report Coverage |
Details |
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Page number |
167 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.83% |
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Market growth 2024-2028 |
USD 10.88 billion |
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Market structure |
Concentrated |
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YoY growth 2023-2024(%) |
8.72 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 42% |
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Key countries |
US, China, Russia, India, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Accion Systems Inc., Ad Astra Rocket Co., Airbus SE, Bellatrix Aerospace Pvt. Ltd., Busek Co. Inc., INVAP S.E., L3Harris Technologies Inc., Lockheed Martin Corp., MIT AeroAstro, Northrop Grumman Corp., OHB System AG, Safran SA, Sitael S.p.A., Thales Group, The Boeing Co., and ThrustMe |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our electric propulsion satellite market forecast report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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