Space Propulsion Systems Market - Growth, Trends, and Forecast (2019 - 2028)

The Space Propulsion Systems Market is segmented by Type (Spacecraft and Launch Vehicle) and Geography.

Market Snapshot

Space Propulsion Systems Market Overview
Study Period:

2016-2028

Base Year:

2018

Largest Market:

United States

Key Players:

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Market Overview

The space propulsion systems market is expected to grow with a CAGR of more than 4% during the forecast period.

  • In the last fifteen years, the business of space exploration changed substantially, with space startups and private corporations joining governments in creating and launching satellites and other spacecraft with the launch vehicles. Thus, the demand for the space propulsion systems has increased. 
  • The shift from traditional propulsions (chemical propulsion system) in spacecraft to the new generation propulsions systems (electric propulsion system) is expected to open new market opportunities in the coming years.

Scope of the Report

The report includes the following aspects:

Spacecraft
Chemical Propulsion Systems
Electric Propulsion Systems
Other Propulsion Systems
Launch Vehicle
Solid Propulsion System
Liquid Propulsion System
Hybrid Propulsion System
Geography
United States
Russia
China
India
Israel
Japan
United Kingdom
France
Rest of the World

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Key Market Trends

The Launch Vehicle Segment Accounted for the Largest Market Share in 2018

As of 2018, the launch vehicle segment had the highest market share in the space propulsion systems market. The large share of the market is primarily due to the higher cost of the propulsion systems in the launch vehicle compared to the propulsion systems in the spacecraft. The amount of thrust which needs to be generated for taking a spacecraft or a satellite to the orbit is thousand times more compared to the thrust required by the satellite to deliver small and precise impulses to accurately control the position or attitude of the satellites in the orbits. The number of launches of small satellites, whose propulsion systems are a lot cheaper compared to that of conventional satellites, has increased a lot in the recent past. This is also a reason for the expected reduction in the market share of the spacecraft segment.

Space Propulsion Systems Market Segmentation

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The United States Dominated the Market in 2018

The United States dominated the market in 2018, mainly due to the ongoing space launches and new product developments in the country. The growth of space propulsion systems market in the United States is majorly driven by the on-going space exploration missions carried out by NASA and the increasing satellite launches by the US Department of Defense. The United States made 22, 29, and 31 orbital launches in the years 2016, 2017, and 2018, respectively. NASA is investing in startup companies to develop advanced propulsion systems for small satellites. In June 2019, NASA selected six research and development projects under its Small Business Innovation Research (SBIR) Program Phase II funding for the development of new high-impulse thrusters and communication technologies for spacecraft. NASA is also working on the Solar Electric Propulsion (SEP) project, which is aimed at extending the length and capabilities of ambitious new exploration and science missions.

Space Propulsion Systems Market Countries

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Competitive Landscape

Some of the prominent players in the space propulsion systems market are Safran, Blue Origin, Moog Inc., Aerojet Rocketdyne, and Space Exploration Technologies Corp. The market of space propulsion systems is highly fragmented with many players providing a wide range of products from small components of propulsion systems to complete propulsion systems. The investment supports by various government and space agencies for the startups are expected to ease the entry of new players into the market in the years to come. Players in the industry are acquiring smaller technology companies to increase their capabilities. For instance, Aerojet Rocketdyne acquired 3D Material Technologies (3DMT), to increase its capabilities in additive manufacturing technologies to reduce costs and improve the efficiency of proven rocket engines. Strategic acquisitions like these are expected to make the market further competitive.

Major Players

  1. Safran
  2. Blue Origin
  3. Moog Inc.
  4. Aerojet Rocketdyne
  5. Space Exploration Technologies Corp.

* Complete list of players covered available in the table of contents below

Space Propulsion Systems Market Concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 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

  5. 5. MARKET SEGMENTATION

    1. 5.1 Spacecraft

      1. 5.1.1 Chemical Propulsion Systems

      2. 5.1.2 Electric Propulsion Systems

      3. 5.1.3 Other Propulsion Systems

    2. 5.2 Launch Vehicle

      1. 5.2.1 Solid Propulsion System

      2. 5.2.2 Liquid Propulsion System

      3. 5.2.3 Hybrid Propulsion System

    3. 5.3 Geography

      1. 5.3.1 United States

      2. 5.3.2 Russia

      3. 5.3.3 China

      4. 5.3.4 India

      5. 5.3.5 Israel

      6. 5.3.6 Japan

      7. 5.3.7 United Kingdom

      8. 5.3.8 France

      9. 5.3.9 Rest of the World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Space Exploration Technologies Corp.

      2. 6.2.2 Accion Systems Inc.

      3. 6.2.3 Blue Origin

      4. 6.2.4 Moog Inc.

      5. 6.2.5 Aerojet Rocketdyne

      6. 6.2.6 Avio SpA

      7. 6.2.7 Yuzhnoye SDO

      8. 6.2.8 OHB SE

      9. 6.2.9 IHI Corporation

      10. 6.2.10 Sierra Nevada Corporation

      11. 6.2.11 Safran

      12. 6.2.12 Northrop Grumman Corporation*

    3. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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