The Space Propulsion Systems Global Market Report 2023, provides comprehensive information on the space propulsion systems 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 Systems Global Market Report 2023, the market size is expected to grow from $8.26 billion in 2022 to $9.66 billion in 2023 at a compound annual growth rate (CAGR) of 16.9%. 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 space propulsion systems market size is expected to reach $17.15 billion in 2027 at a CAGR of 15.4%.
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The advancements in electric propulsion technologies are key trends gaining popularity in the space propulsion systems market. Major companies operating in the space propulsion systems market are focused on developing innovative electric propulsion technologies to strengthen their position in the market. For instance, in June 2022, Astra, a US-based space vehicle company, launched Astra Spacecraft Engine with Krypton/Xenon propulsion system. The Astra Spacecraft Engine (ASE) is an electric propulsion system for constellations using a Hall-effect thruster propulsion system that has been flight-tested. It builds on the previous 50 years of Hall thruster research in a new design with significant advances. Its characteristics are it works with krypton and xenon propellants
The space propulsion systems market is segmented:
1) By Component: Thrusters, Rocket Motors, Propellant Feed Systems, Propulsion Thermal Control, Nozzles, Power Processing Units, Other Components
2) By Spacecraft Type: Satellites, Rovers, Capsules, Launch Vehicles, Interplanetary Spacecraft And Probes
3) By Application: Space Simulation, Rocket Launch, Other Applications
4) By End User: Civil And Earth Observation, Government And Military, Commercial
North America was the largest region in the space propulsion systems market in 2022.
The table of contents in TBRC’s space propulsion systems market report includes:
1. Executive Summary
2. Space Propulsion Systems Market Characteristics
3. Space Propulsion Systems Market Trends And Strategies
4. Space Propulsion Systems Market – Macro Economic Scenario
5. Space Propulsion Systems Market Size And Growth
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26. Africa Space Propulsion Systems Market
27. Space Propulsion Systems Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Space Propulsion Systems Market
29. Space Propulsion Systems Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- IHI Corporation
- Safran S.A
- Aerojet Rocketdyne Holdings Inc
- SpaceX
- Northrop Grumman Corporation
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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 areexperts 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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