Electric Propulsion Satellites Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Electric Propulsion Satellites Market has been segmented by Type (Hybrid, Full-Electric), Application (Commercial, Military), and Geography.

Market Snapshot

Electric Propulsion Systems Market_overview
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: >6 %

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The electric propulsion satellites market is anticipated to grow at a CAGR of more than 6% during the forecast period.

  • Space-based activities have flourished during the last decade, as evident from the number of satellites launched for both commercial and defense applications, ranging from telecommunication, earth-observation, to experimental scientific research. The absence of a combustion supporting atmosphere in space has resulted in the increased adoption of electric propulsion technologies for maneuvering satellites in orbit.
  • The inherent benefits of integrating an electric-propulsion system to different platforms are also driving the rate of adoption. Besides, the emergence of global green emission initiatives has encouraged the adoption of eco-friendly propulsion technologies, such as electric propulsion.

Scope of the Report

Electric propulsion is a technology aimed at achieving thrust with high exhaust velocities, which results in a reduction in the amount of propellant required for a given space mission or application compared to other conventional propulsion methods. It encompasses any propulsion technology in which electricity is used to increase the propellant exhaust velocity.

The various types of satellites powered by the electric propulsion systems, including hybrid and full-electric systems, have been analyzed in the purview of the study.

Type
Hybrid
Full-Electric
Application
Commercial
Military
Geography
North America
US
Canada
Europe
Germany
UK
France
Russia
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
Rest of the World

Report scope can be customized per your requirements. Click here.

Key Market Trends

Full-Electric Segment to Experience the Highest Growth During the Forecast Period

The adoption and diffusion of new technologies, such as satellites, can help disseminate information over broad areas, enable instantaneous telecommunications, generate, and transmit high-resolution images of certain points of interest located all around the world simultaneously. The advent of miniaturized electronics and the increasing use of smart manufacturing materials have resulted in the development of small satellites with shorter development cycles and lower deployment costs. The physical limitations of such satellites encourage the development and integration of powerful yet compatible electric propulsion systems to effectively perform orbital correction maneuvers.

Several contracts are being awarded for the ongoing space missions and strategic collaborations are underway to capitalize on joint capabilities to address an evolving market opportunity. For instance, in October 2019, Accion was awarded a USD 3.9 million as part of the Moon to Mars technology program. As per the contract, Accion will work with NASA’s Jet Propulsion Laboratory (JPL) to replace the cold gas propulsion system that was used on the MarCO CubeSats with a more efficient ion electrospray propulsion system. The program is scheduled to initiate in March 2020, and a potential space launch is expected in the first half of 2021. Such developments are anticipated to drive the business prospects of the players in the market in focus during the forecast period.

Electric Propulsion Satellites Market_trend1

Asia-Pacific is Expected to Generate the Highest Demand During the Forecast Period

The Asia-Pacific region is expected to generate the highest demand for electric propulsion systems during the forecast period. This increasing demand is mainly due to the increasing deployment of satellites driven by evolving regional dynamics. Several satellite launches are scheduled during the forecast period.

Quantification of chemical emissions into the air is a key step in explaining observed variability and trends in atmospheric composition and in attributing these observed changes to their causes on local to global scales. Since, satellite launch vehicles produce different emissions, including water vapor and carbon dioxide from liquid and solid fuels, as well as hydrochloric acid from only solid fuels. Initiatives such as the Mission 2020 encourage the adoption of green propulsion technologies, such as electric propulsion, to restrict the ongoing global climate conversion by minimizing the greenhouse gas emissions by 2020.

Electric Propulsion Satellites Market_geography

Competitive Landscape

The prominent players in the electric propulsion satellites market are Sitael S.p.A., Busek Co. Inc., Northrop Grumman Corporation, Thales Alenia Space, and Safran SA. These companies are majorly into the design, manufacturing, and integration of complete electric propulsion systems for space platforms. The market is highly competitive with the major players striving to produce custom requirement-based product designs. High capital expenditure on account of conducting extensive R&D to develop advanced electric propulsion systems and enhance their current capabilities poses a threat to new market entrants. Additionally, the use of 3D printing technology in propulsion drives is anticipated to simultaneously generate demand for new system components and designs to cater to the demand for sophisticated electric propulsion systems with reduced size and mass without compromising on relative performance. In December 2019, an Austrian space tech agency concluded its ongoing research to develop a modular propulsion system for small satellites ranging from 1 to 500 kg. The Field Emission Electric Propulsion (FEEP) is an advanced electrostatic space propulsion system that consists of an emitter and an accelerator electrode and uses liquid metal as a propellant. The upgraded IFM Micro Thruster has an input power of 100 watts, producing up to 1.5 mN of thrust and providing 50 kN of total impulse, thereby making it particularly well-adapted to small and medium-sized spacecraft.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Hybrid

      2. 5.1.2 Full-Electric

    2. 5.2 Application

      1. 5.2.1 Commercial

      2. 5.2.2 Military

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 US

        2. 5.3.1.2 Canada

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 UK

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Japan

        4. 5.3.3.4 South Korea

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 Rest of the World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Sitael S.p.A.

      2. 6.2.2 Accion Systems Inc.

      3. 6.2.3 Busek Co. Inc.

      4. 6.2.4 Orbital ATK (Northrop Grumman Corporation)

      5. 6.2.5 Ad Astra Rocket Company

      6. 6.2.6 MSNW LLC

      7. 6.2.7 Aerojet Rocketdyne Holdings, Inc.

      8. 6.2.8 Safran SA

      9. 6.2.9 Airbus SE

      10. 6.2.10 The Boeing Company

      11. 6.2.11 Thales Alenia Space

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Electric Propulsion Satellites Market market is studied from 2018 - 2026.

The Electric Propulsion Satellites Market is growing at a CAGR of >6% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Sitael S.p.A., Busek Co. Inc., Northrop Grumman Corporation, Safran SA, Thales Alenia Space are the major companies operating in Electric Propulsion Satellites Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!