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Global Space Propulsion Market to Reach US$24.1 Billion by 2030

The global market for Space Propulsion estimated at US$9.1 Billion in the year 2023, is expected to reach US$24.1 Billion by 2030, growing at a CAGR of 14.9% over the analysis period 2023-2030. Chemical Propulsion, one of the segments analyzed in the report, is expected to record a 12.0% CAGR and reach US$7.6 Billion by the end of the analysis period. Growth in the Nuclear Propulsion segment is estimated at 14.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$2.4 Billion While China is Forecast to Grow at 13.9% CAGR

The Space Propulsion market in the U.S. is estimated at US$2.4 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$3.7 Billion by the year 2030 trailing a CAGR of 13.9% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 13.1% and 12.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 10.8% CAGR.

Global Space Propulsion Market - Key Trends and Drivers Summarized

Space Propulsion: What Fuels the Future of Space Exploration and Travel?

Space propulsion systems are at the heart of every space mission, providing the necessary thrust to launch, maneuver, and maintain spacecraft in orbit. The industry is experiencing a significant transformation as new propulsion technologies such as electric, nuclear, and hybrid propulsion systems emerge. Electric propulsion systems, particularly ion thrusters, are gaining popularity for their high efficiency and reduced fuel consumption, which is essential for long-duration missions like Mars exploration and geostationary satellites. On the other hand, nuclear propulsion systems are being explored for their potential to drastically reduce travel time for interplanetary missions, which could make Mars and other deep-space destinations more accessible. These advancements are redefining the boundaries of space travel and exploration, setting new milestones for future missions.

How Is Green Propulsion Technology Influencing the Market?

With increasing concerns over environmental sustainability, green propulsion technologies are becoming more prevalent in the space propulsion market. Traditional chemical propulsion systems, known for their high thrust but also high environmental impact, are gradually being replaced by greener alternatives such as non-toxic propellants and electric propulsion systems. Hydrogen-based propulsion and green monopropellants are gaining attention as viable alternatives to hydrazine, a toxic chemical traditionally used in satellite propulsion. These technologies not only reduce the environmental footprint of space missions but also comply with stringent international regulations on space sustainability. As countries and companies become more conscious of their space activities’ environmental impact, green propulsion technologies are anticipated to witness accelerated adoption.

What Market Opportunities Are Arising from Space Debris Management?

The increasing accumulation of space debris poses a significant threat to both manned and unmanned space missions, creating a new area of focus in the space propulsion industry. Propulsion systems designed specifically for debris mitigation, collision avoidance, and end-of-life deorbiting are seeing rising demand. Low-thrust propulsion systems, such as ion and Hall-effect thrusters, are considered ideal for these applications due to their precise maneuverability and efficient fuel usage. Additionally, the advent of satellite servicing missions, which involve refueling, repairing, or deorbiting defunct satellites, is opening new avenues for propulsion system manufacturers. These developments are fostering innovation in the space propulsion market, catering to the growing need for sustainable and safe space operations.

What Drives the Growth in the Space Propulsion Market?

The growth in the space propulsion market is driven by several factors, including the rapid expansion of satellite constellations, advancements in propulsion technologies, and increasing government and private sector investments in space exploration. The growing interest in deep-space exploration missions is spurring demand for advanced propulsion systems capable of long-duration, high-efficiency space travel. Rising concerns about space debris management are accelerating the adoption of propulsion systems that facilitate safe and controlled satellite deorbiting. Moreover, the commercialization of space, marked by the emergence of space tourism and private lunar missions, is generating demand for robust and reusable propulsion systems. Collaboration between government agencies, research institutions, and private space companies is further fueling innovation and growth in the space propulsion market.

Select Competitors (Total 46 Featured) -

• Accion Systems, Inc.
• Airbus Group SE
• Aliena
• Astra, Inc.
• Ayecka Communication Systems, Ltd.
• Bradford Space
• Dawn Aerospace
• Dhruva Space Private Limited
• Exotrail
• Indian Space Research Organisation (ISRO)

TABLE OF CONTENTS

I. METHODOLOGY

II. EXECUTIVE SUMMARY

• 1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Space Propulsion - Global Key Competitors Percentage Market Share in 2024 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
  • Global Economic Update
• 2. FOCUS ON SELECT PLAYERS
• 3. MARKET TRENDS & DRIVERS
  • Growing Interest in Low-Earth Orbit (LEO) Satellites Drives Demand for Electric Propulsion Systems
  • Increasing Need for Long-Duration Missions Spurs Adoption of High-Efficiency Chemical Propulsion
  • Emergence of In-Space Refueling Technologies Strengthens the Business Case for Reusable Spacecraft
  • Advances in Ion and Plasma Propulsion Expand Opportunities for Deep Space Exploration
  • Growing Space Tourism Industry Boosts Investments in High-Thrust Propulsion Systems
  • Rising Demand for Small Satellites Accelerates Innovation in Micro Propulsion Systems
  • Advancements in Nuclear Thermal Propulsion Present New Opportunities for Human Mars Missions
  • Space Debris Mitigation Policies Encourage Development of Low-Thrust Propulsion Technologies
  • Need for High Maneuverability in Defense Satellites Boosts Demand for Advanced Propulsion Solutions
  • Expanding Commercial Satellite Market Supports Growth in Propulsion Testing and Simulation Services
• 4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: World Space Propulsion Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
  • TABLE 2: World Recent Past, Current & Future Analysis for Space Propulsion by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • TABLE 3: World Historic Review for Space Propulsion by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 4: World 16-Year Perspective for Space Propulsion by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2014, 2024 & 2030
  • TABLE 5: World Recent Past, Current & Future Analysis for Chemical by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • TABLE 6: World Historic Review for Chemical by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 7: World 16-Year Perspective for Chemical by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
  • TABLE 8: World Recent Past, Current & Future Analysis for Nuclear by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • TABLE 9: World Historic Review for Nuclear by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 10: World 16-Year Perspective for Nuclear by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
  • TABLE 11: World Recent Past, Current & Future Analysis for Solar by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • TABLE 12: World Historic Review for Solar by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 13: World 16-Year Perspective for Solar by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
  • TABLE 14: World Recent Past, Current & Future Analysis for Electric by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • TABLE 15: World Historic Review for Electric by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 16: World 16-Year Perspective for Electric by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
  • TABLE 17: World Recent Past, Current & Future Analysis for Other Propulsion Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • TABLE 18: World Historic Review for Other Propulsion Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 19: World 16-Year Perspective for Other Propulsion Types by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030

III. MARKET ANALYSIS

• UNITED STATES
  • Space Propulsion Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
  • TABLE 20: USA Recent Past, Current & Future Analysis for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 21: USA Historic Review for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 22: USA 16-Year Perspective for Space Propulsion by Propulsion Type - Percentage Breakdown of Value Sales for Chemical, Nuclear, Solar, Electric and Other Propulsion Types for the Years 2014, 2024 & 2030
• CANADA
  • TABLE 23: Canada Recent Past, Current & Future Analysis for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 24: Canada Historic Review for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 25: Canada 16-Year Perspective for Space Propulsion by Propulsion Type - Percentage Breakdown of Value Sales for Chemical, Nuclear, Solar, Electric and Other Propulsion Types for the Years 2014, 2024 & 2030
• JAPAN
  • Space Propulsion Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
  • TABLE 26: Japan Recent Past, Current & Future Analysis for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 27: Japan Historic Review for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 28: Japan 16-Year Perspective for Space Propulsion by Propulsion Type - Percentage Breakdown of Value Sales for Chemical, Nuclear, Solar, Electric and Other Propulsion Types for the Years 2014, 2024 & 2030
• CHINA
  • Space Propulsion Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
  • TABLE 29: China Recent Past, Current & Future Analysis for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 30: China Historic Review for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 31: China 16-Year Perspective for Space Propulsion by Propulsion Type - Percentage Breakdown of Value Sales for Chemical, Nuclear, Solar, Electric and Other Propulsion Types for the Years 2014, 2024 & 2030
• EUROPE
  • Space Propulsion Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
  • TABLE 32: Europe Recent Past, Current & Future Analysis for Space Propulsion by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • TABLE 33: Europe Historic Review for Space Propulsion by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 34: Europe 16-Year Perspective for Space Propulsion by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2014, 2024 & 2030
  • TABLE 35: Europe Recent Past, Current & Future Analysis for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 36: Europe Historic Review for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 37: Europe 16-Year Perspective for Space Propulsion by Propulsion Type - Percentage Breakdown of Value Sales for Chemical, Nuclear, Solar, Electric and Other Propulsion Types for the Years 2014, 2024 & 2030
• FRANCE
  • Space Propulsion Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
  • TABLE 38: France Recent Past, Current & Future Analysis for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 39: France Historic Review for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 40: France 16-Year Perspective for Space Propulsion by Propulsion Type - Percentage Breakdown of Value Sales for Chemical, Nuclear, Solar, Electric and Other Propulsion Types for the Years 2014, 2024 & 2030
• GERMANY
  • Space Propulsion Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
  • TABLE 41: Germany Recent Past, Current & Future Analysis for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 42: Germany Historic Review for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 43: Germany 16-Year Perspective for Space Propulsion by Propulsion Type - Percentage Breakdown of Value Sales for Chemical, Nuclear, Solar, Electric and Other Propulsion Types for the Years 2014, 2024 & 2030
• ITALY
  • TABLE 44: Italy Recent Past, Current & Future Analysis for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 45: Italy Historic Review for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 46: Italy 16-Year Perspective for Space Propulsion by Propulsion Type - Percentage Breakdown of Value Sales for Chemical, Nuclear, Solar, Electric and Other Propulsion Types for the Years 2014, 2024 & 2030
• UNITED KINGDOM
  • Space Propulsion Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
  • TABLE 47: UK Recent Past, Current & Future Analysis for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 48: UK Historic Review for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 49: UK 16-Year Perspective for Space Propulsion by Propulsion Type - Percentage Breakdown of Value Sales for Chemical, Nuclear, Solar, Electric and Other Propulsion Types for the Years 2014, 2024 & 2030
• REST OF EUROPE
  • TABLE 50: Rest of Europe Recent Past, Current & Future Analysis for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 51: Rest of Europe Historic Review for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 52: Rest of Europe 16-Year Perspective for Space Propulsion by Propulsion Type - Percentage Breakdown of Value Sales for Chemical, Nuclear, Solar, Electric and Other Propulsion Types for the Years 2014, 2024 & 2030
• ASIA-PACIFIC
  • Space Propulsion Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
  • TABLE 53: Asia-Pacific Recent Past, Current & Future Analysis for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 54: Asia-Pacific Historic Review for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 55: Asia-Pacific 16-Year Perspective for Space Propulsion by Propulsion Type - Percentage Breakdown of Value Sales for Chemical, Nuclear, Solar, Electric and Other Propulsion Types for the Years 2014, 2024 & 2030
• REST OF WORLD
  • TABLE 56: Rest of World Recent Past, Current & Future Analysis for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 57: Rest of World Historic Review for Space Propulsion by Propulsion Type - Chemical, Nuclear, Solar, Electric and Other Propulsion Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 58: Rest of World 16-Year Perspective for Space Propulsion by Propulsion Type - Percentage Breakdown of Value Sales for Chemical, Nuclear, Solar, Electric and Other Propulsion Types for the Years 2014, 2024 & 2030

IV. COMPETITION