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The space propulsion system market is expected to witness a high growth rate owing to significant increase in satellites and launch vehicle manufacturing. Recent innovations in components have enabled the space propulsion system technology to reach to a wider segment of consumers in the industry. Apart from this, significant investment in development of cost-effective and efficient propulsion systems is a prominent factor leveraging growth in the market. For instance, NASA awarded contracts to six companies including SSL, Blue Origin, and Aerojet Rocketdyne, among others, with an aggregate worth of $44 million, to develop advanced propulsion system, in August 2018. Moreover, companies are developing various forms of emerging technologies, such as air breathing propulsion system, electric propulsion system, and reusable propulsion system, among others, which is expected to propel the growth in the global space propulsion system market. In terms of revenue, the global space propulsion system market generated a revenue of $5.63 billion in the year 2018.
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According to the analysis, the global space propulsion system market generated $5.63 billion in 2018 and is estimated to grow at a CAGR of 13.06% during 2018-2023. Europe dominated the global space propulsion system market in 2018, whereas, Rest-of-the-World is expected to have the highest growth rate during the forecast period 2018-2023.
Following points provide a detailed description of the report content and the topics covered in the report:
- This report identifies the global space propulsion system market under different segments such as end user, type, application, and region.
- It examines the prime demand-side factors that affect the growth of the market and the current and future trends, market drivers, restraints, and challenges prevalent in the global space propulsion system market.
- The report also highlights the value chain of the industry.
- This report includes a detailed competitive analysis, which focuses on the ?key market developments and strategies followed by the top players in the market. Additionally, the market share, which analyzes the share of the players in the global space propulsion system market of the prominent companies, has been included in the existing study.
- The market for different end user such as commercial and government and military, has been estimated and analyzed.
- The market analysis depending on the type of propulsion system in satellite (chemical, electric and hybrid propulsion system) and launch vehicle (solid, liquid, hybrid propulsion systems) in 2018, and what will be the estimates by 2023, has been estimated and analyzed in the report.
- The global space propulsion system market has been analyzed in the report for the major regions including North America, Europe, Asia-Pacific, and Rest-of-the-World.
- The study provides detailed analysis of 15 key players in the global space propulsion system market, including IHI Corporation, Lockheed Martin Corporation, Mitsubishi Heavy Industries, Ltd., Northrop Grumman Corporation, Airbus SAS, Safran, OHB System AG, Thales Group, Aerojet Rocketdyne and Moog Inc., Space Exploration Technologies Corp. (SpaceX), Ariane Group GmbH, Blue Origin, Bradford, Phase Four, and Accion Systems Inc., among others, in the company profiles section. This section covers business financials, company snapshots, key products and services, major developments, future programs (if any), and the individual SWOT analysis.