Market Size of electric propulsion satellites Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 48.93 Billion |
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Market Size (2029) | USD 83.44 Billion |
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CAGR (2024 - 2029) | 11.27 % |
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Largest Share by Region | North America |
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Market Concentration | Low |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Electric Propulsion Satellites Market Analysis
The Electric Propulsion Satellites Market size is estimated at USD 48.93 billion in 2024, and is expected to reach USD 83.44 billion by 2029, growing at a CAGR of 11.27% during the forecast period (2024-2029).
- 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.
48.93 Billion
Market Size in 2024 (USD)
83.44 Billion
Market Size in 2029 (USD)
15.04 %
CAGR (2017-2023)
11.27 %
CAGR (2024-2029)
Largest Market by Propulsion type
72.53 %
value share, Full Electric, 2022
Full Electric satellite propulsion sytem are widely utilized for inspace propulsion and manoveuring, therfore enabling it to occupy a major share in the market.
Fastest-Growing Market by Propulsion type
14.55 %
Projected CAGR, Hybrid, 2023-2029
The technology of hybrid propulsion is also gaining traction and it is expected that the adoption rate of this propulsion systems increases over the the forecast period
Largest Market by End User
98.28 %
value share, Commercial, 2022
The commercial segment is expected to occupy a significant share because of the increasing use of satellites for various telecommunication services.
Largest Market by region
69.89 %
value share, North America, 2022
The increasing investment in satellite equipment to enhance the defense and surveillance capabilities, critical infrastructure, and law enforcement agencies using satellite systems are expected to drive the satellite market in the North American region, thereby increasing the scope for electric space propulsion satellites.
Leading Market Player
7 %
market share, Airbus SE, 2022
Airbus is the major player in the market, with strong emphasis in product development and innovation. The company's robust products and wide distribution channel has prompted to occupy majority of the share in the market.
The growing interest of governments and private players in space exploration have fueled the expansion of this market
- The global market for electric satellite propulsion systems witnessed robust growth in recent years, driven by the increasing demand for satellite deployments across various sectors. North America has emerged as a dominant player in the global space propulsion market, mainly due to the presence of established space agencies such as NASA and private companies like SpaceX, Blue Origin, and Boeing. These entities have undertaken ambitious space missions and satellite deployments, driving the demand for advanced propulsion systems. NASA is also working on the Solar Electric Propulsion project, which aims to extend the duration and capabilities of ambitious discoveries and science missions.
- Asia-Pacific has witnessed a rapid expansion of its space capabilities in recent years. Countries like China, India, and Japan have made significant strides in space technology and satellite manufacturing, positioning themselves as formidable players in the global market. In May 2022, Kongtian Dongli, a Chinese satellite electric propulsion company, secured multi-million yuan angel round financing amid a proliferation of Chinese constellation plans.
- Europe has a strong tradition of collaboration in space exploration through organizations like the ESA. ESA's partnerships with multiple member states have resulted in significant advancements in space technology, satellite manufacturing, and launch capabilities. In February 2023, IENAI SPACE, an in-space mobility provider based in Spain, received two ESA contracts within the General Support Technology Program to mature and further develop ATHENA (Adaptable THruster based on Electrospray powered by NAnotechnology) propulsion systems.
