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(USGovernment-News.Com, February 10, 2025 ) This report analyzes the Satellite Propulsion market from 2024 to 2030. The report describes various industry and technology trends currently prevailing in the Satellite Propulsion market. The Satellite Propulsion market is estimated in terms of market size to be USD 2.60 billion in 2024 to USD 5.19 billion by 2030, at a CAGR of 12.2%. The drivers for satellite propulsion include advancements in propulsion technology, rising demand for communication services, and expansion of government and defense initiatives. Commercial space sector expansion is driven by increasing need for high-speed internet services, broadcasting, lunar exploration which have an important effect on satellite propulsion demand. Growing environmental regulations and a high emphasis on the sustainable space operations are shaping the industry's demand towards better propulsion systems.
The market is expanding due to the increasing demand for satellite deployments. For instance, projects such as SpaceX’s starlink, Amazon’s Kuiper, OneWeb require efficient propulsion solutions for orbit raising and station keeping. Additionally, rising use of nanosatellites and microsatellites for various applications such as communication, scientific research and earth observation further drives the market.
Based on platform, the Large segment is estimated to lead the market during the forecast period. The large platform segment is expected to capture highest market share driven by increasing deployment of large satellites by defense and government agencies for secure communication, surveillance and missile tracking. Additionally, large satellites require propulsion systems which provides station-keeping and maneuverability over a span of 15-20 years, further driving the market for hybrid propulsion systems.
Based on propulsion technology, the Electric segment is estimated to lead the market during the forecast period. The growth of Electric segment is attributed to its ability to significantly reduce the mass of fuel onboard, lowering launch cost and allowing more payload. Additionally, the increasing deployment of small satellites for communication, scientific research and earth observation requires efficient and compact propulsion systems, further driving the market for electric propulsion.
Based on region, Asia Pacific is expected to lead the market during the forecast period. The growth in Asia Pacific is driven by the growing government investments, governments in countries like China, India, Japan, and South Korea, are investing heavily towards satellite programs for navigation, defense, and communication. Additionally, the increasing deployments of satellites for defense capabilities drives the demand for high thrust propulsion systems.
Key players in the Satellite Propulsion market are Northrop Grumman (US), Safran SA (France), Thales Alenia Space (France), L3Harris Technologies, Inc. (US), and Airbus (France). These companies are well-represented geographically and offer a wide range of products. These businesses operate worldwide and provide a variety of products. To grow their market share, they rely on their diverse product portfolios and R&D capabilities.
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