Global Electric Propulsion Satellites Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

By Type;

Hybrid and Full-Electric.

By Application;

Commercial and Military.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).
Report ID: Rn152411289 Published Date: February, 2024 Updated Date: March, 2024

Introduction

Global Electric Propulsion Satellites Market (USD Million), 2020 - 2030

In the year 2023, the Global Electric Propulsion Satellites Market was valued at USD 35,786.70 million. The size of this market is expected to increase to USD 83,154.43 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 12.8%.

The Global Electric Propulsion Satellites Market has witnessed significant growth in recent years, driven by advancements in space technology and an increasing demand for efficient satellite propulsion systems. Electric propulsion systems offer several advantages over traditional chemical propulsion systems, including higher efficiency, lower fuel consumption, and longer operational lifetimes. These systems utilize electric power to accelerate propellant ions, providing propulsion with higher specific impulse. Electric propulsion satellites are becoming increasingly popular for a wide range of applications, including communication, Earth observation, scientific research, and exploration missions.

One of the key factors contributing to the growth of the electric propulsion satellites market is the rising demand for satellite-based services across various sectors, such as telecommunications, navigation, and remote sensing. With the growing need for high-speed internet connectivity, mobile communication, and data transmission, satellite operators are seeking more efficient and cost-effective propulsion solutions to enhance the performance and longevity of their spacecraft. Electric propulsion systems offer a viable solution to meet these requirements by enabling satellites to reach their intended orbits more quickly and operate for extended durations.

The increasing deployment of small satellites, including CubeSats and microsatellites, is driving the adoption of electric propulsion technology in the satellite industry. These miniature spacecraft are often used for various applications, such as Earth observation, scientific research, and technology demonstration missions. Electric propulsion systems provide a compact and lightweight propulsion solution, making them well-suited for small satellite platforms with limited payload capacity. Manufacturers and satellite operators are increasingly integrating electric propulsion systems into small satellite designs to enhance maneuverability and extend mission lifetimes.

The growing trend towards satellite constellation deployments for global connectivity and Earth observation is fueling the demand for electric propulsion satellites. Satellite constellations consist of multiple spacecraft orbiting the Earth in coordinated formations to provide continuous coverage and services. Electric propulsion systems enable efficient orbit raising, station-keeping, and constellation maintenance, allowing operators to optimize satellite positioning and maximize network coverage. This capability is particularly advantageous for constellations supporting communication networks, remote sensing applications, and space-based infrastructure, driving the adoption of electric propulsion technology in the global satellite market.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Type
    2. Market Snapshot, By Application
    3. Market Snapshot, By Region
  4. Global Electric Propulsion Satellites Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Fuel Efficiency and Cost Savings
        2. Extended Operational Lifetimes
        3. Reduced Environmental Impact
        4. Rapid Deployment and Constellation Maintenance
        5. Mission Flexibility and Maneuverability
      2. Restraints
        1. High Initial Investment Costs
        2. Complexity and Technical Challenges
        3. Power Supply Constraints
        4. Limited Thrust and Acceleration
      3. Opportunities
        1. Space Exploration Missions
        2. Rising Demand for Satellite Constellations
        3. Emerging Markets for Small Satellites
        4. Advancements in Electric Propulsion Technology
        5. Green Initiatives and Sustainability Goals
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market SegmentationCompetitive Landscape
    1. Global Electric Propulsion Satellites Market, By Type, 2022 - 2032 (USD Million)
      1. Hybrid
      2. Full-Electric
    2. Global Electric Propulsion Satellites Market, By Application, 2022 - 2032 (USD Million)
      1. Commercial
      2. Military
    3. Global Electric Propulsion Satellites Market, By Geography, 2022 - 2032 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East and Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Company Profiles
    1. Sitael S.p.A.
    2. Accion Systems Inc.
    3. Busek Co. Inc.
    4. Orbital ATK (Northrop Grumman Corporation)
    5. Ad Astra Rocket Company
    6. MSNW LLC
    7. Aerojet Rocketdyne Holdings, Inc.
    8. Safran SA
    9. Airbus SE
    10. The Boeing Company
    11. Thales Alenia Space
  7. Analyst Views
  8. Future Outlook of the Market

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