Space Propulsion Market Projected to Reach $18.1 Billion by 2028, Fueled by Advanced Electric Propulsion Systems

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Space Propulsion Market Projected to Reach
18.1 Billion by 2028, Fueled by Advanced
Electric Propulsion Systems
The Global Space Propulsion Market is set to
witness substantial growth, with a projected
value of USD 18.1 billion by 2028, according to a
comprehensive report
titled Market Launch
"Space Platform Vehicle),
Propulsion (Satellite, Propulsion Propulsion,
Propulsion), (Thrusters,
Type (Chemical
Non-Chemical Component Propellant
Feed System,
Nozzle), Orbit, End User, Orbit, Support Service
Region - Global Forecast to 2028." The market,
valued at USD 10.6 billion in 2023, is
anticipated to register a Compound Annual Growth
Rate (CAGR) of 11.3 during the forecast
period. Download PDF Brochure _at_
https//www.marketsandmarkets.com/pdfdownloadNew.a
sp?id118742255 Key Findings Driving
Factors The primary factors driving the growth
of the space propulsion market include an
increasing demand for advanced electric
propulsion systems. Significant investments by
venture capital companies in space exploration
missions are contributing to market
expansion. The growing utilization of small
satellites in various commercial and
military applications is a key factor propelling
the market forward. Segment Analysis Satellite
Platform The medium satellite segment is
expected to experience significant growth during
the forecast period. Medium satellites, with a
wet mass between 500 kg and 2,500 kg, find
applications in climate monitoring, Earth
observation, scientific research, exploration,
and surveillance. Non-Chemical Propulsion Type
The electric propulsion segment dominates
the market, leveraging advanced technology to
achieve higher speeds over extended periods.
Electric propulsion is particularly effective for
certain deep-space missions. Regional Insights
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The Asia Pacific region is anticipated to lead
the market, driven by initiatives like the Asia
Pacific Regional Space Agency Forum (APRSAF).
This forum promotes space activities, human
resources development, and technology
capabilities, fostering growth strategies,
technological advancements, and research
development activities. Key Market Players Major
players in the space propulsion market include
Safran S.A. (France), SpaceX (US), L3Harris
Technologies Inc. (US), IHI Corporation
(Japan), and Northrop Grumman Corporation
(US). These companies possess robust
manufacturing facilities and extensive
distribution networks across major
regions. Detailed Analysis The detailed report
consists of 285 market data tables and 58 figures
spread over 293 pages, offering a comprehensive
analysis of various market segments, including
satellite platform, propulsion type,
components, orbit, end-users, and support
services. For further details, refer to the
complete Table of Content here. Inquiry before
buying _at_ https//www.marketsandmarkets.com/Enquiry
_Before_BuyingNew.asp?id118742 255 About
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