Global Space Propulsion System Market Size to 34.44 Billion in 2032 | Emergen Research

Increasing use of LEO satellites for Earth observation is a significant factor driving global space propulsion system market revenue growth

Vancouver, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Current Market Scenario (Market estimates)
The global Space Propulsion System Market size was USD 6.67 billion in 2020. Increasing number of space exploration activities, increasing use of Low Earth Orbit (LEO) satellites for earth observation, rising emphasis on decreasing costs associated with space missions, increasing use of commercial off-the-shelf components in small satellites, and rising need for non-chemical propulsion systems are key factors expected to drive market revenue growth.

Drivers: Increasing Use of LEO Satellites for Earth Observation Applications

Increasing use of LEO satellites for earth observation applications is a key factor driving market revenue growth. LEOs are orbits lying below 2,000 km altitude from sea level and offer excellent benefits for missions related to earth observation. Satellite-based observations enable frequent and systematic views uniformly over larger areas. Earth observation is beneficial for monitoring environment, as well as climate and resource mapping worldwide. Satellites can operate for a long, sustained period using electric propulsion to offset the atmospheric drag through reduced propellant payload, as these operate in rarefied aerodynamics environments. Also, space propulsion system can be deployed for deorbiting the satellite, leading to reduction of space debris.

Receive Sample of Research Report @

Restraints: Limitations of Electric Space Propulsion Systems

Certain limitations associated with electric space propulsion systems are expected to hamper market revenue growth over the forecast period. When high acceleration is critical to a space mission, electrical space propulsion is avoided, as usage of this system takes much longer time to attain a particular speed. In addition, unlike chemical propulsion system, this type of propulsion system is costlier and efficiency is lower. It also has sophisticated architecture due to usage of a high number of instruments.

Growth Projections

The global space propulsion system market size is expected to reach USD 34.44 billion at a revenue CAGR of 14.6% in 2032. Increasing deployment of commercial off-the-shelf parts and components in small satellite construction plays a crucial role in driving market revenue growth. Commercial-Off-The-Shelf (COTS) includes usage of industrial grade electronics and various other elements for utilization in spacecraft construction. Various electronics such as radio technologies, imaging technologies, navigation, and GPS receivers integrated in mobile phones are being deployed into space designs. Incorporation of COTS parts/components will eliminate the need to alter those parts for functioning in small satellites and spacecraft with any repackaging. In addition, commercial-off-the-shelf components are cost-effective.

COVID-19 Direct Impacts

SARS-COV-2 pandemic has significantly impacted space propulsion system market revenue growth, due to movement restrictions associated with imposition of lockdown and disruption of supply chain, which, in turn, is hampering procurement of raw materials required in manufacturing processes. Also, due to global economic slowdown, various space related missions and activities have been stalled due to lack of fundings and other factors.

Current Trends and Innovations

Currently, development of reusable rockets is a prevailing trend instrumental in driving market revenue growth, as these rockets are used as LEO elevators, which is helping to place increasing number of small satellites in this orbit. In addition, private space exploration companies are focusing on development of space technologies. These companies are aiming to initiate manned landings on the surface of moon and develop airplane-borne rocket launchers for launching small satellites to LEO at relatively lower cost.

Geographical Outlook

Space propulsion system market in Asia Pacific is expected to register fastest revenue growth rate over the forecast period. Increasing funding by countries such as India, Japan, and China in space missions is a key factor driving market revenue growth. In addition, presence of leading players such as IHI corporation in the region is contributing significantly to market growth.

To seek a discount on this report, click on the link:

Scope of Research

Report DetailsOutcome
Market size in 2020USD 6.67 Billion
CAGR (2021–2032)14.6%
Revenue forecast to 2032USD 34.44 Billion
Base year for estimation2020
Historical data2018–2019
Forecast period2021–2032
Quantitative unitsRevenue in USD Billion and CAGR in % from 2021 to 2032
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments coveredComponent, spacecraft type, propulsion type, orbital path, end-use, and region
Regional scopeNorth America; Europe; Asia Pacific; Latin America; Middle East & Africa
Country scopeU.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Sweden, Benelux, China, India, Japan, South Korea, Brazil, Saudi Arabia, UAE, South Africa, Israel
Key companies profiledSpace Exploration Technologies Corporation, Safran SA, Lockheed Martin Corporation, Aerojet Rocketdyne Holdings Inc., Thales Alenia Space, Moog Inc., IHI Corporation, OHB SE, Northrop Grumman Corporation, and Sierra Nevada Corporation.
Customization scope10 hours of free customization and expert consultation

Major Companies and Competitive Landscape

The global space propulsion system market is moderately fragmented, with a number of small- and medium-sized companies accounting for majority revenue share. Major companies have well-established facilities and enter in acquisitions and mergers, and strategic agreements, and engage in various research and development activities and initiatives to develop and deploy new and more advanced technologies and products in the space propulsion system market. Major companies included in the space propulsion system market report are:

  • Space Exploration Technologies Corporation
  • Safran SA
  • Lockheed Martin Corporation
  • Aerojet Rocketdyne Holdings Inc.
  • Thales Alenia Space
  • Moog Inc.
  • IHI Corporation
  • OHB SE
  • Northrop Grumman Corporation
  • Sierra Nevada Corporation

Buy This Premium Report Now:

Strategic Development
In October 2021, NASA announced signing of a contracts with GE Aviation (GE) of Cincinnati and magniX USA Inc. of Redmond for Mature Electrified Aircraft Propulsion Technologies (EAP). This agreement would support NASA’s Electric Powertrain Flight Demonstration that will mature Electrified Aircraft Propulsion (EAP) technologies at a fast pace through ground and flight demonstrations.

In June 2021, Astra made an announcement about the acquisition of electric space propulsion system manufacturer, Apollo Fusion. Electric propulsion systems are very effective in propelling spacecraft. It would help Astra to operate spacecraft beyond LEO.

Some Key Highlights From the Report

  • Satellites are an integral part of space missions, as these can go around the Earth and deliver very precise weather reports and send alerts of impending storms. Satellites monitor everyday climate, help to track climate change rates, and its resulting effects, including rising sea and varying moisture levels and wildfires. More importantly, satellites help in connecting millions of individuals globally by providing reliable communication links, particularly in rural and remote areas. In addition, these help to curb deforestation and illegal fishing owing to real-time capability for continuous monitoring of forested areas among others.
  • Solar propulsion system for outer planet orbiters is considered very beneficial for reducing flight time. This system also offers the ability to cater to orbital constraints because of supposed radiation belts, lengthening of launch periods, and flexibility in a dual launch program.
  • Tether propulsion system can remove dysfunctional spacecraft from LEO quickly and safely using electrodynamic drag to substantially enhance orbital decay rate. Also, these systems are very beneficial for rocket de-orbit systems, owing to low mass needs.

To gain access to the complete research report, visit @
Emergen Research has segmented global space propulsion system market on the basis of component, spacecraft type, propulsion type, orbital path, end-use, and region:

  • Component Outlook (Revenue, USD Billion; 2018–2032)
    • Thrusters
    • Rocket Motors
    • Propellant Feed Systems
    • Propulsion Thermal Control
    • Nozzles
    • Power Processing Units
    • Others
  • Spacecraft Type Outlook (Revenue, USD Billion; 2018–2032)
    • Satellites
    • Capsules
    • Rovers
    • Interplanetary Spacecraft & Probes
    • Launch Vehicles
  • Propulsion Type Outlook (Revenue, USD Billion; 2018–2032)
    • Chemical Propulsion
    • Non-Chemical Propulsion
      1. Solar Propulsion
      2. Electric Propulsion
      3. Tether Propulsion
      4. Laser Propulsion
      5. Nuclear Propulsion
  • Orbital Path Outlook (Revenue, USD Billion; 2018–2032)
    • LEO
    • MEO
    • GEO
    • Others
  • End-Use Outlook (Revenue, USD Billion; 2018–2032)
    • Government & Defense
    • Commercial
  • Regional Outlook (Revenue, USD Billion; 2018–2032)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. U.K.
      3. France
      4. Italy
      5. Spain
      6. Sweden
      7. BENELUX
      8. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Israel
      5. Rest of MEA

Curated Reports You Shouldn't Miss: Dive In Now!

In-vehicle infotainment Market By Product (Display, Audio, Others), By Fitting (Aftermarket, OE Fitted), and By Application (Commercial Vehicles, Passenger Cars), Forecasts to 2027

Automotive Aftermarket Market By Replacement Part (Battery, Tire, Brake Parts, Others), By Certification (Certified Parts, Genuine Parts, Others), By Service Channel (DIFM, DIY, OE, Others) and By Distribution Channel (Wholesalers & Distributors, Retailers), Forecasts to 2027

Automotive Intelligent Lighting Market By Technology (Xenon, Halogen, Others), By Vehicle Type (Passenger Cars, Commercial Vehicles), and by Application (Rear, Front/Headlamps, Others), Forecasts to 2027

Electric Vehicle ECU Market By Capacity, By Vehicle Type (Passenger and Commercial), By Propulsion Type (Battery Powered, Hybrid, Internal Combustion Engine (ICE)), By Application (ADAS & Safety Systems, Body Electronics, Powertrain, Infotainment), Forecasts to 2027

Automotive Regenerative Braking Systems Market By Type (Electric Regenerative Braking System, Hydraulic Regenerative Braking System), By Propulsion (BEV, Plug-In HEV, HEV), By Application (Two Wheelers, Passenger Cars, Commercial Vehicles), By Region, Forecasts to 2017-2027

About Emergen Research                                            

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors. For more information, visit
Contact Us:

Eric Lee

Corporate Sales Specialist

Emergen Research | Web:

Direct Line: +1 (604) 757-9756


Explore Our Japanese Version: Space Propulsion System Market

Explore Our Blogs and Insights Section:

Read our Press Release @

Contact Data