Global Satellite Propulsion System Market Size Is Projected To Exceed USD 29.9 Billion by 2026 says a new report by Polaris Market Research.
The global Satellite propulsion system market generated USD 19 billion in 2017 and is anticipated to grow at a CAGR of 5.3% during the forecast period.
Satellite propulsion systems are developed to deliver precise impulse bits for accurate control of position or altitude of satellites. Some applications of satellite propulsion systems include orbital satellites and spacecraft, interplanetary spacecraft and probes, control of re-entry vehicles, automated resupply missions, ascent roll control and stabilisation of light to heavy launch vehicles, launch vehicle upper stage attitude, and orbital and roll control among others.
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The increasing demand for small satellites, and growing applications of satellites in the government sector for various purposes such as urban planning, border mapping, infrastructure security, and homeland security are contributing significantly to the growth of the Satellite propulsion system market. Increasing application of satellites in the commercial sector, and rising deployment of cubesats supplements the growth of this market. Growing demand from emerging economies, technological advancements, government initiatives, and investments in research and development are factors expected to support the Satellite propulsion system market growth during the forecast period.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Satellite Propulsion System Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
The North America Satellite propulsion system market generated the highest revenue in 2017 owing to increasing applications in defense, government, and commercial sectors. U.S. is one of the leading countries in the satellite market owing to presence of established space research organizations such as NASA, and implementation of advanced technologies to leverage its resources.
North America Satellite Propulsion System Market Share By Type, 2017 – 2026
Competitive Landscape and Key Vendors
The global Satellite Propulsion System market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
The leading companies profiled in the Satellite propulsion system market report include Ball Aerospace & Technologies Corp., Thales Group, Safran S.A, Mitsubishi Electric Corporation, Airbus Defense and Space, Airbus Defense and Space, The Boeing Company, Orbital ATK Inc., Aerojet Rocketdyne, OHB System AG, Bellatrix Aerospace, and Northrop Grumman Corporation.
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Key Segments
Type
- Chemical Propulsion
- Electric Propulsion
- Hybrid Propulsion
Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Italy
o Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
• Latin America
o Brazil
o Rest of Latin America
• Middle East and Africa
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