Global Satellite Propulsion System Market
Aerospace and Defense

Insights Into The Satellite Propulsion System Market’s Growth Potential 2024-2033

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Satellite Propulsion Market: A Meteoric Rise

  • Market size: From $4.34 billion in 2023 to $5.15 billion in 2024
  • Compound Annual Growth Rate (CAGR): 18.7%
  • Growth catalysts: Early space exploration, chemical propulsion, miniaturization, electric propulsion, mission extension services

Looking Ahead: Forecasts and Trends

  • Projected market size: $9.74 billion by 2028
  • CAGR: 17.3%
  • Forecast drivers: Small satellite deployments, electric propulsion advancements, on-orbit servicing demand, earth observation expansion

Surge In Space Exploration Propels The Satellite Propulsion Systems Market

Fueling Exploration

  • Space exploration’s impact: Advancing satellite propulsion
  • Satellite propulsion’s role: Deep space capabilities, controlled landings
  • Recent stats: Active satellites, increased budgets

Major Players

  • Industry leaders: Airbus SAS, Aerojet Rocketdyne, Moog Inc., and more

Read The Full Satellite Propulsion System Market Report Here:

Product Innovations Transforming The Satellite Propulsion System Market

Innovative Solutions

  • Trend focus: Product innovations
  • Example: Accion Systems’ TILE 2 ion electrospray system
  • Features: On-orbit maneuvers, proximity operations

Industry Acquisition

  • Astra’s acquisition of Apollo Fusion
  • Strategic move: Enhancing service capabilities
  • Apollo Fusion’s expertise: Electric propulsion engines, Hall thruster systems

Market Segmentation and Regional Insights

Segmentation Overview

  • By Type: Chemical, Electric, Hybrid, Others
  • By Orbit: LEO, MEO, GEO, Beyond GEO
  • By Application: Commercial, Science, National Security, Meteorology, Others

Regional Dominance

  • North America: Leading region in 2023

Top of Form

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The Satellite Propulsion System Global Market Report 2024  provides an overview of the satellite propulsion system market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The satellite propulsion system market forecast analyzes satellite propulsion system market size, satellite propulsion system market share, leading competitor and their market positions.

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