Space Propulsion System Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

The global space propulsion system market is expected to witness a healthy growth during the forecast period. The space agencies are constantly focusing on the development of more powerful, less toxic, and higher efficiency space propulsion products to provide better solutions to the end users. Several factors such as increasing in number of space launches propelled by rise in demand for small satellite launches, demand for constellation launches, and ongoing trend of satellite ridesharing is contributing to the growth of space propulsion system market globally. Moreover, the scheduled launches of satellite constellations are also expected to catalyse the demand for launch vehicles which will drive the space propulsion systems market growth during the forecast period. Further, the rise in demand for spacecraft deployment is another major factor supporting the space propulsion system market growth. For instance, according to the Space Foundation, there were more than 1200 spacecraft deployments worldwide in 2021 that tripled the amount of spacecraft launched during 2021. Further, the number of orbital launches accounted for around 146 spaceflight launches conducted in 2021 which was a 28% increase from its preceding year 2021 that accounted for 114 orbital launches in 2021. Such instances have been catalysing the demand for space propulsion system worldwide

MARKET DYNAMICS

Increase in the number of missions for space exploration and technological advancements in space propulsion is driving the growth of the space propulsion system market. However, issue related to strict government policies may restrain the growth of the space propulsion system market. Furthermore, the new project initiatives including expansions is further anticipated to create market opportunities for the space propulsion system market during the forecast period. 

MARKET SCOPE

The "Global Space Propulsion System Market Analysis to 2031" is a specialized and in-depth study of the space propulsion system market with a special focus on the global market trend analysis. The report aims to provide an overview of space propulsion system market with detailed market segmentation by aircraft type, component, application, and geography. The global space propulsion system market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading space propulsion system market players and offers key trends and opportunities in the space propulsion system market. 

MARKET SEGMENTATION

The global space propulsion system market is segmented on the basis of type, component and platform. On the basis of type, the market is segmented as chemical propulsion, non-chemical propulsion. Similarly, on the basis of component, the market is segmented as thrusters, propellant feed system, and nozzle. Further based on platform, market is segmented as satellite and Launch Vehicle.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global space propulsion system market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The space propulsion system market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting space propulsion system market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive Porter’s five forces analysis highlighting factors affecting the space propulsion system market in these regions.

MARKET PLAYERS

The reports cover key developments in the space propulsion system market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from space propulsion system market are anticipated to lucrative growth opportunities in the future with the rising demand for space propulsion system market. Below mentioned is the list of few companies engaged in the space propulsion system market. 

The report also includes the profiles of key space propulsion system market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

• Accion Systems
• Aerojet Rocketdyne
• Airbus S.A.S.
• ArianeGroup GmbH
• BLUE ORIGIN 
• IHI AEROSPACE Co., Ltd. 
• Lockheed Martin Corporation 
• Northrop Grumman Corporation
• Safran
• Space Exploration Technologies Corp. (SpaceX) 

The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Space Propulsion System Report Scope