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:
https://www.thebusinessresearchcompany.com/report/satellite-propulsion-system-global-market-report
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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