The Space Propulsion Global Market Report 2023, provides comprehensive information on the space propulsion market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Space Propulsion Global Market Report 2023, the market size is expected to grow from $8.25 billion in 2022 to $9.26 billion in 2023 at a compound annual growth rate (CAGR) of 12.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global space propulsion is expected to grow to $15.56 billion in 2027 at a CAGR of 13.8%.
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In 2021, Astra, a US-based company focused on commercial rockets and satellites, announced the acquisition of electric propulsion maker Apollo Fusion for a final purchase price of $50 million. with $30 million in stock and $20 million in cash. This acquisition could strengthen Astra’s ability to efficiently manage and supply spacecraft beyond LEO. Apollo Fusion is a US-based company that produces two EP thruster systems, the Apollo Constellation Engine (ACE) and the ACE Max.
The space propulsion market is segmented:
1) By Type: Chemical Propulsion, Non-chemical Propulsion
2) By Platform: Satellites, Capsules\Cargos, Interplanetary Spacecraft & Probes, Rovers/Spacecraft Landers, Launch Vehicles
3) By End User: Commercial, Government & Defense
4) By System Component: Chemical Propulsion Thrusters, Electric Propulsion Thrusters, Propellant Feed Systems, Rocket Motors, Nozzles, Propulsion Thermal Control, Power Processing Units
5) By Orbit: Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Earth Orbit (GEO), Beyond Geosynchronous Orbit
North America was the largest region in the space propulsion market in 2022.
The table of contents in TBRC’s space propulsion market report includes:
- Executive Summary
- Space Propulsion Market Characteristics
- Space Propulsion Market Trends And Strategies
- Space Propulsion market – Macro Economic Scenario
- Space Propulsion Market Size And Growth
- Space Propulsion Market Segmentation
- Space Propulsion Market Regional And Country Analysis
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- Space Propulsion Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Space Propulsion Market
- Space Propulsion Market Future Outlook and Potential Analysis
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