Global Trends and Forecast in Space Propulsion Technology (2022 2028)

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PROPULSION MARKET GLOBAL TOP 2000 STRATEGIST RELY
ON US FOR THEIR GROWTH STRATEGIES. KSNpOaWcMeORPE
ro(p/KunolwsleidogenstoMre.aasrpkreeqtueSsti_zfre
ee,_tSriahl) are, Industry, Statistics Growth
Analysis Report by Platform (Satellite, Launch
Vehicle), Propulsion Type (Chemical
Propulsion, Non-Chemical Propulsion), Component
(Thrusters, Propellant Feed System, Nozzle),
Orbit, End User, Orbit, Support Service Region -
Global Growth Driver and Forecast to 2028 FREE
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Report The Global Space Propulsion Market Size
is estimated to be USD 10.6 billion in 2023 and
is projected to reach USD 18.1 billion by 2028,
at a CAGR of 11.3 from 2023 to 2028. The Space
Propulsion Industry is driven by factors such as
rising space exploration programs and a focus on
the development of reusable launch vehicles.
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Space Propulsion Market Forecast to 2028 To know
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t Dynamics mber of space exploration missions
Space Propulsion Marke Drivers Surge in the
nu Space exploration provide
s the possibility of tangible as well as
intangible benefits for humanity in the long term.
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For instance, research and exploration of the low
Earth orbit help in providing solutions for
various global services, such as communication,
global positioninSgig,noInc(ehattpnso/g/wrwawp.hm
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astronomy. CONTACT US (/CONTACTUS.ASP)
Hence, global expenditure has grown in the last
five years, driven by programs in leading
countries investing in space exploration, which
is being enabled by the development of high-tech
propulsion systems. Technological breakthroughs
and insights from past space missions have also
inspired new players to invest in this niche
market due to the significant opportunities
provided by it. In the coming years, there is
likely to be an increase in public and private
initiatives in space exploration with a
converging global interest in Moon exploration.
The space sector has obtained record government
investment totaling over USD 92 billion in 2022,
an 8 increase compared to 2020, as declared by
major space consulting and market intelligence
firm Euroconsults Government Space Programs
report for 2021. In terms of applications, Moon
and Mars exploration are expected to account for
most space missions to be launched by 2027, as
lunar exploration becomes the focus of private
and public stakeholders. A total of more than 10
missions are anticipated to be launched for other
deep space exploration by the ESA, NASA, Blue
Origin, SpaceX, and others, while the remaining
missions will be dedicated to Mars
exploration. Restraints Complex government
frameworks and stringent policies Government
policies at both the nation-state and
international levels directly or indirectly
influence the evolution of the small satellite
(https//www.marketsandmarkets.com/Market-Reports/
small-satellite-market- 150947396.html) ecosystem
and industry. Currently, there is no
comprehensive global or domestic on-orbit
regulation regime. Also, the Copernicus project,
which is believed to be at the forefront of
European space policy, is particularly hit by a
lot of shortcomings. A weak data distribution
system, mixed with a complex government framework
and inadequate European industrial and space
policy support actions, are the most significant
obstacles holding back a faster development of
products and services based on Copernicus
data. Satellite operators have expressed interest
in developing regulations that would provide
certainty to investors. However, there are
concerns over burdensome regulations that could
drive companies to move from country to country.
Given that the timeline in which operators and
policymakers functions do not always align and
that there are significant efforts involved in
creating international community agreements,
developing policies and regulations for the
quickly evolving commercial space industry will
be a hurdle for the next 10 years. Opportunities
Technological upgrade in electric propulsion to
improve efficiency and reduce cost Electric
propulsion (EP) with increased capabilities and
higher-efficiency thrusters is being developed to
reduce costs and risks and enable credible space
missions. EP has been used by many commercial
satellite providers for on-orbit station keeping
due to its total life-cycle cost
advantages. Currently, NASAs Solar Electric
Propulsion (SEP) project is developing advanced
technologies to extend the length and
capabilities of future space exploration
missions. An advanced propulsion technology like
SEP allows deep-space missions to carry more
cargo and use smaller launch vehicles while
reducing mission costs. SEP
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conomy it reduces the volume of propellants
required onboard vehicles for deep- h as 90. or
space applications has benefited a variety of
NASA, military, and commercial (m/)issions. In
2019, NASA signed a contract with Maxar
Technologies to provide solar electric propulsion
for orbital adjustments as well as electricity
with solar arrays for its Gateways service
module. Also, in the last two
also provides a high fuel e space missions by as
muc Electric propulsion used f
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decades, space start-up firms have proved they
can compete against heavyweight aerospace
contractors like
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As of 2021-2022, a SpaceX rocket launching can
be 97 cheaper than a Russian Soyuz ride cost in
the 60s. Thus, due to these reasons, electric
propulsion technology will boost the space
propulsion market during the forecast years.
Challenges Emissions due to space missions Space
launches can lead to a hefty carbon footprint due
to the burning of solid rocket fuels. Every time
a rocket is launched, it produces a plume of
exhausts filled with materials that can collect
in the air over time, potentially altering the
atmosphere in dangerous ways. Rockets utilizing
unsymmetrical dimethyl hydrazine (N(CH3)2NH2) and
dinitrogen tetroxide (N2O4) propellants account
for about one-third of all stratospheric rocket
engine emissions, comparable to solid-fueled
rocket emissions. Small pieces of soot and
alumina are created in the wake of rocket
launches. These materials may build up in the
stratosphere over time and slowly lead to the
depletion of the ozone layer. For instance,
SpaceXs Falcon Heavy, the worlds heaviest
operational rocket, burns about 400 metric tons
of kerosene and emits more carbon dioxide in a
few minutes than an average car would in more
than two centuries. With a significant increase
in the number of space missions, the emission
scale of harmful gases is also expected to
increase, which poses a challenge. Space
Propulsion Market Ecosystem Prominent companies
in this market include well-established,
financially stable manufacturers of space
propulsion systems with a global presence. These
companies have been operating in the market for
several years and have a diversified product
portfolio, state-of-the-art technologies, and
robust global sales and marketing networks.
Prominent companies include Safran S.A. (France),
L3Harris Technologies, Inc. (US), IHI Corporation
(Japan), Space Exploration Technologies Corp.
(SpaceX) (US), and Northrop Grumman Corporation
(US).
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overs/spacecraft landers segment is projected to
grow at the highest CAGR in arket during the
forecast period. e space propulsion market has
been segmented into satellites,
capsules/cargos, (in/)terplanetary spacecraft
probes, rovers/spacecraft landers, and launch
vehicles. A rover (or planetary rover) is a
planetary surface exploration device designed to
move across the solid surface HoOfMaE
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to
Based on platform, the r the Space Propulsion
M Based on the platform, th
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uman spaceflight crew others are partially or
fully autonomous robots. Rovers are typically
created to land on a planet (other than Earth)
via a lander-style spacecraft, tasked to collect
information about the terrain and take crust
samples such as dust, soil, rocks, and liquids.
They are essential tools in space exploration.
Based on component, the propellant feed systems
segment held the second largest share in the base
year. Based on components, the space propulsion
market has been segmented into thrusters,
propellant feed systems, rocket motors, nozzles,
propulsion thermal control, power processing
units, and others. Among these, the propellant
feed systems segment held the second-largest
share in 2023. The propellant feed system of a
spacecraft determines how the propellant is
delivered from the tanks to the thrust chamber.
It is generally classified as either pressure-fed
or pump-fed. A pressure-fed system is simple and
relies on tank pressures to feed the propellants
into the thrust chamber. This type of system is
typically used for space propulsion applications
and auxiliary propulsion applications requiring
low system pressures and small quantities of
propellants. Propellant feed systems are further
classified into tanks for keeping propellants and
oxidizers, regulators, valves, turbopumps, and
combustion chambers. Cobham Mission Systems (UK),
VACCO Industries (US), and Ram Company (US) are
some of the players providing propellant feed
systems. North America holds the largest share
in 2023. North America holds the largest share in
2023. This large share is due to several factors,
such as High spending on the space sector, a
strong focus on the adoption of state-of-the-art
technologies, and the presence of leading players
in the region.
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Space Propulsion Market by Region To know about
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Market Players Major players operating in the
space propulsion companies (https//www.marketsand
markets.com/ResearchInsight/space-propulsion-marke
t.asp) include Safran S.A. (France), SpaceX (US),
L3Harris Technologies Inc. (US), IHI Corporation
(Japan), and Northrop Grumman Corporation (US).
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()
Click on image to enlarge
Scope of the Report
Report Metric
Details
Market Size Available for Years
20192028
Base Year Considered
2022
Forecast Period
20232028
Forecast Units
Value (USD Million/Billion)
Propulsion Type, System Component, Orbit,
Platforms, End User, and Region
Segments Covered
North America, Europe, Asia Pacific, Middle East
Africa, and Latin America
Geographies Covered
Safran S.A. (France), L3Harris Technologies Inc.
(US), Aerojet Rocketdyne Holdings, Inc. (US), IHI
Corporation (Japan), Space Exploration
Technologies Corporation (US), Northrop Grumman
Corporation (US), Moog, Inc. (US), Rafael
Advanced Defense Systems Ltd. (Israel), Thales
Alenia Space (France), Lockheed Martin Corporation
Companies Covered
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Space Propulsion Market Highlights orizes the
space propulsion market based on propulsion type,
system component, and region.
This research report categ orbit, platforms, end
user,
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Segment
Subsegment
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Satellites
COBNyTAPClTaUtfSo(r/mCONTACTUS.ASP)
CubeSats Small Satellites Nanosatellites
Microsatellites Minisatellites Medium Satellites
Large Satellites Capsules/Cargo Crewed Spacecraft
or Human Space Flight Uncrewed or Unmanned
Spacecraft Interplanetary Spacecraft Probes
Rovers/ Spacecraft Landers Launch Vehicles Small
Launch Vehicles Medium to Heavy Launch Vehicles
Reusable Launch Vehicles
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Chemical Propulsion Solid Homogeneous
Heterogeneous/Composites Liquid
By Propulsion Type
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Green Biopropellant Cryogenic Hypergolic Hybrid
Cold Gas Non-Chemical Propulsion Electric or Ion
Propulsion Electrothermal Argon Hydrogen
Others Electromagnetic PTFE Electrostatic Xenon
Krypton Others Solar Propulsion Solar Sail
Propulsion Solar Electric Propulsion Solar
Thermal Propulsion Tether Propulsion Nuclear
Propulsion Laser Propulsion
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Thrusters Chemical Propulsion Thrusters Cold
Warm Gas Thrusters Monopropellant Thrusters
By Component
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Hall- Effect Thrusters (HET) Pulsed Plasma
Thruster (PPT) Magneto Plasma Dynamic (MPD)
Thruster Propellant Feed Systems Propellant
Tanks Monopropellant Tanks Bipropellant Tanks
Oxidizer Tanks Pressure Flow Regulators
Valves Turbo Pumps Combustion Chamber Rocket
Motors Nozzles Propulsion Thermal Control Power
Processing Units Others
Low Earth Orbit (LEO) Medium Earth Orbit
(MEO) Geosynchronous Earth Orbit (GEO) Beyond
Geosynchronous Earth Orbit
By Orbit
Commercial Satellite Operators Owners Space
Launch Service Providers Government Defense
Department Of Defense National Space Agencies
Others
By End User
Design, Engineering, Operation Maintenance Hot
Firing Environmental Test Execution Fuelling
Launch and Ground Support
By Support Service
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North America Europe Asia Pacific Middle East
Africa Latin America
By Region
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n.AtSsP) In June 2023, Safran SAs subsidiary
Safran Electronics Defense signed a Memorandum
of Agreement with Terran Orbital to examine and
verify the requirements for the American
manufacturing of a new generation of electric
propulsion systems for satellites based on
Safran's PPSX00 plasma thruster. In April 2023,
Aerojet Rocketdyne Holdings, Inc announced that
it had received a USD 67 million worth contract
from the Lockheed Martin Corporation to deliver
propulsion systems for the Orion spacecraft that
are planned to launch on Artemis missions
VI-VIII. In December 2022, the Spanish Ministry
of Defense awarded a contract to Airbus Defence
and Space GmbH, Airbus Defence and Space SAU,
Dassault Aviation, Indra, and Eumet (a Joint
Venture between Safran Aircraft Engines and MTU
Aero Engines) for the development of next phase
of NGWS/FCAS project. In August 2022, NASA
awarded USD 1.4 Bn worth of five astronaut
mission contracts to SpaceX. This contract was
made under NASAs Commercial Crew program, which
delivers astronauts and cargo to and from the
International Space Station Frequently Asked
Questions (FAQ)
What is the current size of the space propulsion market?
What are the key sustainability strategies adopted by leading players operating in the space propulsion market?
What factors support space propulsion market growth during the forecast period?
Which region is expected to hold the highest market share in the Space Propulsion market?
Who are the leading players in the Space Propulsion market?
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