Global Space Propulsion Market (2020 to 2025) - Key Drivers, Restraints, Opportunities and Challenges

DUBLIN, Oct. 22, 2020 /PRNewswire/ -- The "Global Space Propulsion Market by Type (Chemical Propulsion, Non-chemical Propulsion), System Component (Thrusters, Propellant Feed System, Nozzle), Platform (Satellite, Launch Vehicle), Orbit, End User, Orbit, Support Service, and Region - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global space propulsion market is projected to grow from USD 6.7 billion in 2020 to USD 14.2 billion by 2025, at a CAGR of 16.2% from 2020 to 2025.

The market is driven by various factors, such as an increase in the number of space exploration missions, demand for LEO-based services, and increasing demand for advanced electric propulsion systems.

Some of the key players in the space propulsion market include Safran S.A. (France), Aerojet Rocketdyne Holdings, Inc. (US), SpaceX (US), IHI Corporation (Japan), and Northrop Grumman Corporation (US). These players have their presence across various countries in North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

COVID-19's Impact on the Space Industry

Launches: Many launch service providers are focused on upcoming launches that were delayed by some time. Rocket Lab (US) has suspended launches for the time being. Guiana Space Center, a French and European spaceport, has suspended flights. Arianespace (France) still launches from Baikonur, Russia. Soyuz MS-16 was launched in April 2020 with a new crew for the International Space Station (ISS), and in August 18, 2020, SpaceX launched its eleventh Starlink mission, which included 58 Starlink satellites and three of Planet's SkySats.

The space propulsion market faced a slight decline from 2018 to 2019 due to a decrease in the number of space launches. COVID-19 has also affected the import and export trading activities in the space industry. However, the expected rise in space launches from 2021 and beyond will drive the space propulsion market.

Satellites: The fastest-growing segment of the space propulsion market, by platform

By platform, the satellite segment is estimated to be the largest and fastest-growing segment in the space propulsion market. The growth of this segment can be attributed to rising small satellite launches for commercial and government applications. Large satellites, medium satellites, CubeSats, and small satellites, including nanosatellites, microsatellites, and minisatellites, play an important role in Earth observation, communication, and meteorology applications. These satellites are capable of monitoring cyclones, storms, El Nino, floods, fires, volcanic activities, earthquakes, landslides, oil slicks, environmental pollution, and industrial and power plant disasters

Government & defense segment is estimated to account for the largest market share in the year 2020

The government & defense segment is estimated to have the largest revenue market share in 2020. The growth of this segment can be attributed to increasing space exploration missions and rising space budgets. Defense organizations support the use of various types of satellites, such as remote sensing satellites, communication satellites, and surveillance satellites, for military operations and cyber operations. Support operations usually involve the launch of satellites with high-value payloads in space through Expendable Launch Vehicles (ELVs). They also ensure monitoring by facilitating the friendly use of space for various operations, such as surveillance, protection, and space intelligence analysis. For instance, the US Air Force regularly launches GPS and missile-defense tracking satellites and operates two classified X-37B robotic space planes.

Design, engineering, & operation: The fastest-growing segment of the space propulsion market, by support service

By support service, the design, engineering, & operation segment is estimated to be the fastest-growing segment of the space propulsion market. The growth of this segment can be attributed to the need for advanced design and engineering to reduce the costs and complexities of propulsion systems. The service team responds directly to customers requiring system-level technology and concept evaluation, analysis, and maturation; detailed system development and propulsion component integration; and test verification planning, evaluation, and certification. The design, engineering, & operation service also provides operational support for space transportation propulsion systems. The service provided ranges from small thrusters to large rocket engines, covering both earth storable and cryogenic propellants.

North America: The fastest-growing region in the space propulsion market

Based on the region, the space propulsion market in North America is projected to register the highest CAGR during the forecast period. The growing demand for commercial communication and imaging satellites, increasing deployment of small satellites, rising space exploration missions for interplanetary observations, and demand for resupply missions for International Space Station (ISS) are key factors expected to drive the market in North America. Globally, technological breakthroughs and resourceful insights obtained from past space missions have inspired new players to invest in this niche market.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.2 Restraints
5.2.3 Opportunities
5.2.4 Challenges
5.3 Average Selling Price Trend
5.4 Value Chain Analysis
5.5 Ecosystem/Market Map
5.6 COVID19 Impact: Ranges and Scenarios

6 Industry Trends
6.1 Introduction
6.2 Technology Analysis
6.3 Key Market for Export/Import
6.4 Patent Analysis
6.5 Case Study Analysis

7 Space Propulsion Market, by Propulsion Type
7.1 Introduction
7.2 Chemical Propulsion
7.2.1 Solid
7.2.2 Liquid
7.2.3 Hybrid
7.2.4 Green
7.3 Non-Chemical Propulsion
7.3.1 Electric Propulsion
7.3.1.1 Xenon
7.3.1.2 Argon
7.3.1.3 Krypton
7.3.1.4 Hydrogen
7.3.1.5 Others
7.3.2 Solar Propulsion
7.3.2.1 Solar Sail Propulsion
7.3.2.2 Solar Electric Propulsion (SEP)
7.3.2.3 Solar Thermal Propulsion
7.3.3 Tether Propulsion
7.3.4 Nuclear Propulsion
7.3.5 Laser Propulsion

8 Space Propulsion Market, by System Component
8.1 Introduction
8.2 Thrusters
8.2.1 Chemical Propulsionthruster
8.2.1.1 Cold and Warm Gas Thrusters
8.2.1.2 Monopropellant Thrusters
8.2.1.3 Bipropellant Thrusters
8.2.2 Electric Propulsion Thruster
8.2.2.1 Gridded Ion Engine (GIE) or Ion Thruster
8.2.2.2 Hall Effect Thruster (HET)
8.2.2.3 High Efficiency Multi Stage Plasma Thrusters (HEMP-TS)
8.2.2.4 Pulsed Plasma Thruster (PPT)
8.2.2.5 Quad Confinement Thruster (QCT)
8.2.2.6 Magneto Plasma Dynamic (MPD) Thruster
8.2.2.7 Others
8.3 Propellant Feed System
8.3.1 Propellant Tanks
8.3.1.1 Monopropellant Tanks
8.3.1.2 Bipropellant Tanks
8.3.2 Regulators
8.3.1.1 High Pressure Regulator
8.3.1.2 Low Pressure Regulator
8.3.3 Valves
8.3.4 Turbo Pump
8.3.5 Combustion Chamber
8.4 Rocket Motors
8.5 Nozzle
8.6 Thermal Control System
8.7 Power Processing Unit (PPU)
8.8 Others

9 Space Propulsion Market, by Platform
9.1 Introduction
9.2 Satellite
9.2.1 Cubesat
9.2.2 Smallsatellite (1-500Kg)
9.2.2.1 Nanosatellite
9.2.2.2 Microsatellite
9.2.2.3 Minisatellite
9.2.3 Medium Satellite (501-2500Kg)
9.2.4 Large Satellite (>2500Kg)
9.3 Capsule/Cargo
9.3.1. Crewed Spacecraft or Human Space Flight
9.3.2 Uncrewed or Unmanned Spacecraft
9.4 Interplanetary Spacecraft and Probes
9.5 Rovers/Spacecraft Landers
9.6 Launch Vehicles
9.6.1 Small Lift Launch Vehicles (<_50_000 />9.6.2 Medium to Heavy Vehicles (>350,000 Kg)
9.6.3 Reusable Launch Vehicle

10 Space Propulsion Market, by Orbit
10.1 Introduction
10.2 Low Earth Orbit (LEO)
10.3 Medium Earth Orbit (MEO)
10.4 Geosynchronous Orbit (GEO)
10.5 Beyond Geosynchronous Orbit

11 Space Propulsion Market, by End-user
11.1 Introduction
11.2 Government & Military
11.2.1 National Space Agency
11.2.2 Department of Defense (DOD)
11.2.3 Others
11.3 Commercial
11.3.1 Space Launch Service Providers
11.3.2 Satellite Operators and Owners

12 Space Propulsion Market, by Support Services
12.1 Introduction
12.2 Design, Engineering and Operation
12.3 Hot Firing and Environmental Test Execution
12.4 Fueling and Launch Support

13 Space Propulsion Market, Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 North America: COVID-19 Impact
13.2.2 Tariff and Regulatory Landscape
13.2.3 US
13.2.4 Canada
13.3 Europe
13.3.1 Europe: COVID-19 Impact
13.3.2 Tariff and Regulatory Landscape
13.3.3 UK
13.3.4 Russia
13.3.5 Germany
13.3.6 France
13.3.7 Italy
13.4 Asia-Pacific
13.4.1 Asia-Pacific: COVID-19 Impact
13.4.2 Tariff and Regulatory Landscape
13.4.3 China
13.4.4 Japan
13.4.5 India
13.4.6 South Korea
13.4.7 Australia
13.5 Middle East & Africa
13.5.1 Middle East & Africa: COVID-19 Impact
13.5.2 Tariff and Regulatory Landscape
13.5.3 Saudi Arabia
13.5.4 Israel
13.5.5 Turkey
13.5.6 South Africa
13.6 South America
13.6.1 Brazil
13.6.2 Mexico

14 Competitive Landscape
14.1 Introduction
14.2 Market Evaluation Framework
14.3 Market Ranking
14.4 Market Share
14.4.1 By Propellant Feed System
14.4.2 By Electric Propulsion Thruster
14.4.3 By Propulsion System
14.5 Revenue Analysis of Top Five Market Player
14.6 Key Market Developments
14.6.1 Contracts
14.6.2 New Product Launches
14.6.3 Agreements, Partnerships, and Joint Ventures

15 Company Evaluation Matrix and Company Profiles
15.1 Overveiw
15.2 Company Evaluation Matrix Definitions and Methodology
15.2.1 Star
15.2.2 Emerging Leaders
15.2.3 Pervasive
15.2.4 Emerging Companies
15.3 Company Evaluation Matrix, 2019
15.3.1 Strength of Product Portfolio
15.3.2 Business Strategy Excellence
15.4 Start-Up Matrix, 2019
15.5 Company Profile
15.5.1 OHB SE
15.5.2 Accion System
15.5.3 Boeing
15.5.4 Northrop Grumman Corporation
15.5.5 Maxar Technologies
15.5.6 Thales Alenia Space
15.5.7 Airbus Defense and Space
15.5.8 Vacco Industries
15.5.9 Moog Inc.
15.5.10 Cobham Mission Systems Wimborne Limited
15.5.11 Ariane Group GmbH
15.5.12 AST Advanced Space Technologies GmbH
15.5.13 Stanford MU Corporation
15.5.14 Bradford Space
15.5.15 RAM Company
15.5.16 Blue Origin
15.5.17 SpaceX
15.5.18 Sierra Nevada Corporation
15.5.19 IHI Corporation
15.5.20 Safran
15.5.21 Rocket Labs
15.5.22 Aerojet Rocketdyne Holdings Inc.
15.5.23 Yuzhnoye SDO
15.5.24 Mitsubishi Heavy Industries, Ltd.
15.5.25 Virgin Galatic
15.5.26 L3Harris Technologies
15.5.27 Fakel
15.5.28 Enpulsion GmbH
15.5.29 Busek Co. Inc.

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