Nov 11, 2020, 05:07 EST
Shibuya-ku, Tokyo, Japan, Japan, Nov 11, 2020, 05:07 /Comserve / -- Global Space Propulsion Market is valued approximately USD 5.8 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.7 % over the forecast period 2020-2027.
Global Space Propulsion Market is valued approximately USD 5.8 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.7 % over the forecast period 2020-2027. Spacecraft propulsion is any device which is used to propel spacecraft and artificial satellites. Space propulsion or in-space propulsion is solely concerned with the space vacuum propulsion systems used and should not be confused with the launch vehicles. The market is driven by Government and private sector projects, Demand for low-cost small satellites and reusable space launch vehicle production.
The key players of global Space propulsion market have adopted various strategies to gain competitive advantage including product launch, mergers and acquisition, partnerships and agreements, investment, funding and others. For instance, In May 2020, Aerojet Rocketdyne supplied the dual chemical and electric propulsion systems for NASA's Double Asteroid Redirection Test (DART) to the Johns Hopkins Applied Physics Laboratory (APL). However, government policies directly or indirectly impact the growth of the small satellite environment and industry at the national and international levels. Moreover, The US government is investing in every aspect of the small-sat ecosystem and is expected to continue investing in the upstream and downstream sectors. In many countries , government spending, generally in R&D and start-ups, is seen not only as a way of addressing societal problems, but also as a way of promoting independence from imports and ultimately becoming a global provider of solutions across multiple sectors, including space. Many governments also understand that, like the one in the US, they do not have a well-developed venture sector and thus provide funds for venture capital ( VC).
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The regional analysis of global Space Propulsion Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of Demand for low-cost small satellites and reusable space launch vehicle production. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such Government and private sector projects would create lucrative growth prospects for the Space Propulsion Market across Asia-Pacific region.
Major market player included in this report are:
NORTHROP GRUMMAN CORPORATION
THALES ALENIA SPACE
AIRBUS DEFENSE AND SPACE
COBHAM MISSION SYSTEMS WIMBORNE LIMITED
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Interplanetary Spacecraft & Probes
By System Component:
Chemical Propulsion Thrusters
Electric Propulsion Thrusters
Propellant Feed Systems
Propulsion Thermal Control
Power Processing Units
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By Propulsion Type:
By End user:
Government & Defense
By Support service:
Design, Engineering, & Operation
Hot Firing & Environmental Test Execution
Fueling & Launch Support
Low Earth orbit (LEO)
Medium Earth orbit (MEO)
Geostationary Earth Orbit (GEO)
Beyond Geosynchronous Orbit
Rest of the World
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