DUBLIN–(BUSINESS WIRE)–The “Global Space Propulsion Market by Type (Chemical Propulsion, Non-chemical Propulsion), System Component (Thrusters, Propellant Feed System, Nozzle), Platform (Satellite, Launch Vehicle), Orbit, End User, Orbit, Support Service, and Region – Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The global space propulsion market is projected to grow from USD 6.7 billion in 2020 to USD 14.2 billion by 2025, at a CAGR of 16.2% from 2020 to 2025.
The market is driven by various factors, such as an increase in the number of space exploration missions, demand for LEO-based services, and increasing demand for advanced electric propulsion systems.
COVID-19’s Impact on the Space Industry
Launches: Many launch service providers are focused on upcoming launches that were delayed by some time. Rocket Lab (US) has suspended launches for the time being. Guiana Space Center, a French and European spaceport, has suspended flights. Arianespace (France) still launches from Baikonur, Russia. Soyuz MS-16 was launched in April 2020 with a new crew for the International Space Station (ISS), and in August 18, 2020, SpaceX launched its eleventh Starlink mission, which included 58 Starlink satellites and three of Planet’s SkySats.
The space propulsion market faced a slight decline from 2018 to 2019 due to a decrease in the number of space launches. COVID-19 has also affected the import and export trading activities in the space industry. However, the expected rise in space launches from 2021 and beyond will drive the space propulsion market.
Satellites: The fastest-growing segment of the space propulsion market, by platform
By platform, the satellite segment is estimated to be the largest and fastest-growing segment in the space propulsion market. The growth of this segment can be attributed to rising small satellite launches for commercial and government applications. Large satellites, medium satellites, CubeSats, and small satellites, including nanosatellites, microsatellites, and minisatellites, play an important role in Earth observation, communication, and meteorology applications. These satellites are capable of monitoring cyclones, storms, El Nino, floods, fires, volcanic activities, earthquakes, landslides, oil slicks, environmental pollution, and industrial and power plant disasters
Government & defense segment is estimated to account for the largest market share in the year 2020
The government & defense segment is estimated to have the largest revenue market share in 2020. The growth of this segment can be attributed to increasing space exploration missions and rising space budgets. Defense organizations support the use of various types of satellites, such as remote sensing satellites, communication satellites, and surveillance satellites, for military operations and cyber operations. Support operations usually involve the launch of satellites with high-value payloads in space through Expendable Launch Vehicles (ELVs).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.2 Market Dynamics
5.3 Average Selling Price Trend
5.4 Value Chain Analysis
5.5 Ecosystem/Market Map
5.6 COVID19 Impact: Ranges and Scenarios
6 Industry Trends
7 Space Propulsion Market, by Propulsion Type
8 Space Propulsion Market, by System Component
9 Space Propulsion Market, by Platform
10 Space Propulsion Market, by Orbit
11 Space Propulsion Market, by End-user
11.2 Government & Military
11.2.1 National Space Agency
11.2.2 Department of Defense (DOD)
11.3.1 Space Launch Service Providers
11.3.2 Satellite Operators and Owners
12 Space Propulsion Market, by Support Services
12.2 Design, Engineering and Operation
12.3 Hot Firing and Environmental Test Execution
12.4 Fueling and Launch Support
13 Space Propulsion Market, Regional Analysis
13.2 North America
13.5 Middle East & Africa
13.6 South America
14 Competitive Landscape
14.2 Market Evaluation Framework
14.3 Market Ranking
14.4 Market Share
14.5 Revenue Analysis of Top Five Market Player
14.6 Key Market Developments
15 Company Evaluation Matrix and Company Profiles
15.2 Company Evaluation Matrix Definitions and Methodology
15.3 Company Evaluation Matrix, 2019
15.4 Start-Up Matrix, 2019
15.5 Company Profile
15.5.1 OHB SE
15.5.2 Accion System
15.5.4 Northrop Grumman Corporation
15.5.5 Maxar Technologies
15.5.6 Thales Alenia Space
15.5.7 Airbus Defense and Space
15.5.8 Vacco Industries
15.5.9 Moog Inc.
15.5.10 Cobham Mission Systems Wimborne Limited
15.5.11 Ariane Group GmbH
15.5.12 AST Advanced Space Technologies GmbH
15.5.13 Stanford MU Corporation
15.5.14 Bradford Space
15.5.15 RAM Company
15.5.16 Blue Origin
15.5.18 Sierra Nevada Corporation
15.5.19 IHI Corporation
15.5.21 Rocket Labs
15.5.22 Aerojet Rocketdyne Holdings Inc.
15.5.23 Yuzhnoye SDO
15.5.24 Mitsubishi Heavy Industries, Ltd.
15.5.25 Virgin Galatic
15.5.26 L3Harris Technologies
15.5.28 Enpulsion GmbH
15.5.29 Busek Co. Inc.
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