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The satellite propulsion system market size is forecast to increase by USD 15.34 billion at a CAGR of 8.76% between 2023 and 2028. The market is experiencing significant growth due to the emergence of low-cost satellites, driving the demand for cost-effective propulsion solutions. Inert gases, such as xenon and krypton, continue to dominate the propulsion market due to their high specific impulse and efficiency. However, the insufficient thrust generation with all-electric propulsion systems is a major challenge, limiting their application in larger satellites and geostationary orbits. The market is also witnessing the adoption of hybrid propulsion systems, which combine the advantages of both chemical and electric propulsion, to address the limitations of individual systems. Overall, the market is expected to grow steadily, driven by advancements in technology and the increasing demand for cost-effective and efficient propulsion solutions.
Satellite propulsion systems play a crucial role in the space industry, powering launch vehicles and artificial satellites for various applications, including internet connectivity, space exploration, and scientific research. The global market for satellite propulsion systems is driven by the increasing demand for high-speed broadband in industrialized countries and the need for affordable broadband in developing nations. The satellite propulsion systems market is witnessing significant technological improvements, with the adoption of electric propulsion systems gaining popularity due to their high efficiency and low-cost operation. These systems use less propellant than chemical rockets, making them ideal for station-keeping and orbit raising.
Further, government space agencies and private companies, including space startups, are investing in the development of low-cost satellites and launch pads to reduce the fiscal climate of space exploration. The market is segmented into primary propulsion systems, such as bipropellant and monopropellant propulsion systems, and propellants, including solar system gases and chemicals. The space technology industry's advancements in satellite propulsion systems are enabling the exploration of the solar system and beyond, expanding our understanding of the universe and providing new opportunities for commercial applications.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The chemical propulsion segment is estimated to witness significant growth during the forecast period. Satellite propulsion systems play a crucial role in ensuring the successful deployment and operation of satellites in the space technology domain. Traditionally, chemical propulsion systems have been employed due to their availability and proven performance. However, these systems carry a significant amount of fuel, which is not feasible for nano and microsatellites. Moreover, once ignited, chemical propellants cannot be stopped or restarted, necessitating the use of multiple stages for multiple burns. This adds weight and reduces the payload-carrying capacity of the satellites, thereby increasing their operational costs. In contrast, electric propulsion systems, such as momentum wheels, green chemical propulsion, and cold gas propulsion, offer advantages like low-cost, high-speed broadband, and long-duration station-keeping.
These systems use less fuel and are more efficient, making them suitable for low-cost satellites and missions. Furthermore, digital control systems and attitude control enhance the performance of these systems. The fiscal climate and the growing demand for affordable broadband and telecommunications in industrialized countries and developing nations have fueled the commercial space industry's growth. Space taxis and rockets are being developed to provide cost-effective access to space, enabling the deployment of more satellites. Aerospace parks and research centers are being established to foster innovation and collaboration in the field of satellite propulsion systems. In the solar system, primary propulsion is essential for orbit raising and maintaining the desired position of the spacecraft.
The advancements in propulsion technology, such as pneumatic/hybrid systems, pulsed plasma propulsion, and green liquid propellants, offer promising solutions for future space missions. These systems offer improved efficiency, reduced environmental impact, and increased performance, making them valuable assets for the space industry.
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The chemical propulsion segment was valued at USD 9.71 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 31% to the growth of the global 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 encompasses various technologies such as ambipolar thrusters, water electrolyzed, cold gas thrusters, and others, used for spacecraft propulsion. Space agencies and private companies, including startups, are investing significantly in the development of advanced propulsion systems for artificial satellites and space exploration. Technological improvements in bipropellant propulsion systems and monopropellant propulsion systems, such as the use of advanced fuels and efficient engine designs, are driving market growth. Pneumatic propulsion systems, which utilize gas to generate thrust, are also gaining popularity due to their high efficiency and low mass. Launch pads around the world serve as the starting point for satellites equipped with these advanced propulsion systems, enabling them to reach their intended orbits and contribute to various applications in space exploration.
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.
The emergence of low-cost satellites is the key driver of the market. The market is experiencing significant advancements due to the increasing focus on cost-effective and innovative solutions in the field of space technology. Industrialized countries and developing nations alike are investing in the development of new-generation launch vehicles and propulsion systems to reduce the fiscal climate for satellite launches. In January 2020, the Indian Space Research Organization (ISRO) announced the launch of low-cost satellite launch vehicles, marking a milestone in the industry's quest for affordability. ISRO's Reusable Launch Vehicle-Technology Demonstrator (RLV-TD) was successfully flight-tested the same year. Additionally, SpaceX is working on the development of a fully reusable space launch vehicle, capable of conducting multiple satellite launch missions.
These advancements in propulsion systems include the use of electric propulsion systems, such as momentum wheels, green chemical propulsion using hydrazine, and cold gas propulsion, as well as pneumatic/hybrid systems and pulsed plasma propulsion. These technologies are essential for station-keeping, orbit raising, and primary propulsion in satellites, enabling high-speed broadband connectivity, telecommunications, earth observation, and other applications in the solar system. The commercial space industry is also benefiting from these advancements, with digital control systems and attitude control systems playing a crucial role in ensuring the success of space missions.
Propulsion by inert gases is the upcoming trend in the market. Satellite propulsion systems play a crucial role in the functioning of launch vehicles and spacecraft, enabling station-keeping, orbit raising, and primary propulsion in the vacuum of space. Industrialized countries have led the way in the development of advanced propulsion systems, including electric propulsion systems and chemical rockets, for interplanetary travel and satellite applications. Xenon, a rare gaseous element, is commonly used in electric propulsion systems due to its high ionization efficiency. Air Liquide, a leading player in the space technology industry, has contributed significantly to space exploration for over five decades, participating in major international projects such as the European Ariane launcher program and satellite initiatives like Herschel, MeteoSat Third Generation, and Planck.
The commercial space industry, driven by the demand for high-speed broadband and affordable broadband in developing nations, is expected to witness significant growth in the fiscal climate. Various propulsion technologies, including momentum wheels, green chemical propulsion using hydrazine, pneumatic/hybrid systems, cold gas propulsion, and pulsed plasma propulsion, are being explored to meet the demands of the space industry while minimizing environmental impact. Digital control systems and attitude control are essential components of these propulsion systems, ensuring precise maneuvering and optimal performance.
Insufficient thrust generation with all-electric propulsion systems is a key challenge affecting the market growth. In the realm of space technology, the importance of strong propulsion systems for launch vehicles and spacecraft has gained significant attention, particularly with the rise of industrialized countries' space programs and the increasing demand for high-speed broadband and affordable broadband in developing nations. All-electric propulsion systems have emerged as a popular choice for powering small and low-cost satellites due to their numerous advantages, including higher efficiency and longer mission life. However, these systems face challenges in withstanding the extreme conditions of satellite launches and space exposure. During recent satellite launches, electric propulsion systems did not provide adequate thrust during the initial stages compared to chemical fuels.
Propulsion systems play a pivotal role in the success of launch vehicles, satellites, and space taxis. The aerospace industry is continually pushing the boundaries of innovation, with advancements in propulsion technologies such as Electric propulsion systems, Chemical rockets, Momentum wheels, Green chemical propulsion, Pneumatic/hybrid systems, Cold gas propulsion, and Pulsed plasma propulsion. These propulsion systems are essential for various applications, including orbit raising, station-keeping, primary propulsion, and attitude control. The fiscal climate and commercial space industry's growth have led to the development of low-cost satellites. However, the all-electric propulsion system's challenges, such as withstanding the vacuum of space and severe surrounding parameters, must be addressed to ensure reliable operation.
Digital control systems and advanced materials are being explored to enhance the system's performance. In the context of telecommunications, Earth observation, and other space applications, the need for propulsion systems is paramount. Solar system exploration and spacecraft navigation also rely on these technologies. As the space industry evolves, the focus on developing efficient, cost-effective, and environmentally friendly propulsion systems continues to gain momentum. The choice between chemical and electric propulsion systems depends on the mission requirements, satellite size, and launch vehicle capabilities. Chemical propulsion systems, which use hydrazine and other propellants, offer high thrust but have limitations in terms of efficiency and environmental impact.
Electric propulsion systems, on the other hand, offer higher efficiency but require a larger power source and may not provide enough thrust during the initial stages of a satellite launch. In conclusion, the advancements in propulsion systems have significantly contributed to the growth of the space industry, enabling various applications such as satellite launches, spacecraft navigation, and space exploration. The challenges associated with electric propulsion systems must be addressed to ensure their reliability and efficiency in the demanding space environment. The future of space technology lies in the development of innovative, cost-effective, and environmentally friendly propulsion systems that can meet the diverse needs of the space industry.
The 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 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.
Airbus SE - The company offers satellite propulsion systems such as all-electric satellites and satellite-on-station maneuvers. It is also involved in manufacturing aircraft for passenger airliners.
The 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.
Satellite propulsion systems play a crucial role in the successful deployment and operation of satellites in the space industry. These systems are integral components of launch vehicles, powering rockets to place satellites into their designated orbits. The global market for satellite propulsion systems is driven by the increasing demand for high-speed broadband and affordable broadband in industrialized countries, as well as the growing need for earth observation and telecommunications in developing nations. The space technology sector's fiscal climate significantly influences the market's growth, with governments investing in space taxis and rockets to expand their presence in the solar system.
Further, satellite propulsion systems include primary propulsion for launch and orbit raising, as well as station-keeping and attitude control systems. Two main types of satellite propulsion systems are chemical rockets and electric propulsion systems. Chemical propulsion uses traditional propellants like hydrazine, while electric propulsion systems employ advanced technologies like momentum wheels, green chemical propulsion, pneumatic/hybrid systems, cold gas propulsion, and pulsed plasma propulsion. The commercial space industry's growth in the satellite sector is expected to boost the demand for low-cost satellites and affordable satellite propulsion systems.
Market Scope |
|
Report Coverage |
Details |
Page number |
180 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.76% |
Market Growth 2024-2028 |
USD 15.34 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.87 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 31% |
Key countries |
US, UK, China, Russia, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Airbus SE, ArianeGroup, CU Aerospace, ESCO Technologies Inc., Eutelsat S.A., Hispasat SA, IHI Corp., Inmarsat Global Ltd., Intelsat US LLC, Moog Inc., Northrop Grumman Corp., OHB SE, Rafael Advanced Defense Systems Ltd., Safran SA, SES SA, SKY Perfect JSAT Holdings Inc., Starfish Space, Telesat Corp., Thaicom Public Co. Ltd., and Thales Group |
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 |
Customization purview |
If our market 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 Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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