The Satellite Propulsion System Global Market Report 2023, provides comprehensive information on the satellite propulsion system 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 Satellite Propulsion System Global Market Report 2023, the market size is expected to grow from $3.64 billion in 2022 to $4.30 billion in 2023 at a compound annual growth rate (CAGR) of 18.0%. 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 global satellite propulsion system market size is expected to reach $8.10 billion in 2027 at a CAGR of 17.1%.
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Product innovations are a key trend gaining popularity in the satellite propulsion system market. Major companies operating in the satellite propulsion system market are focused on developing new technological solutions to strengthen their position. For instance, in June 2021, Accion Systems Inc., a US-based developer of advanced satellite propulsion systems for space, launched “TILE 2,” an ion electrospray propulsion system. It is one-of-a-kind in that it uses ionic liquid electrospray to test on-orbit maneuvers in LEO as well as proximity operation maneuvers. The TILE propulsion system is the only microsystem available with the unparalleled SWaP system and it creates a propulsion system using a combination of safe, inert liquid propellant and mechanical design.
The satellite propulsion system market is segmented:
1) By Type: Chemical Propulsion, Electric Propulsion, Hybrid Propulsion, Other Types
2) By Orbit: Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Earth Orbit (GEO), Beyond Geosynchronous Orbit
3) By Application: Commercial Use, Science And Environment, National Security And Military, Meteorology, Other Applications
North America was the largest region in the satellite propulsion system market in 2022.
The table of contents in TBRC’s satellite propulsion system market report includes:
1. Executive Summary
2. Satellite Propulsion System Market Characteristics
3. Satellite Propulsion System Market Trends And Strategies
4. Satellite Propulsion System Market – Macro Economic Scenario
5. Satellite Propulsion System Market Size And Growth
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26. Africa Satellite Propulsion System Market
27. Satellite Propulsion System Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Satellite Propulsion System Market
29. Satellite Propulsion System Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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