Key Questions Answered in this Report:
- What are the trends in the global space propulsion system market across different regions?
- What are the major driving forces that tend to increase the demand for space propulsion system during the forecast period 2020-2025?
- What are the major challenges inhibiting the growth of the space propulsion system market?
- What was the revenue generated in the global space propulsion system market by payload range in 2019?
- Which end user of the space propulsion system market (government and commercial) is expected to dominate the market in the coming years?
- What was the revenue generated in the global space propulsion system market by end user in 2019, and what are the estimates by 2025?
- Which application (satellite and launch vehicles) is expected to dominate the space propulsion system market in the coming years?
- What is the estimated revenue to be generated by the global space propulsion system market across different regions (North America, Europe, Asia-Pacific, and Rest-of-the-World) during the forecast period?
- Which are the key players in the global space propulsion system market, and what are the new strategies that are being adopted by them to make a mark in the industry?
- What major opportunities do the space propulsion system market companies foresee in the next five years?
- What is the impact of COVID-19 on the space sector value chain in upstream, midstream, and downstream parts?
- What is competitive strength of the key leading players in the space propulsion system market?
Global Space Propulsion System Market Forecast, 2020-2025
The Global Space Propulsion System Market report projects the market to grow at a CAGR of 11.76% on the basis of value during the forecast period from 2020 to 2025. North America is expected to dominate the global space propulsion system market with an estimated share of 44.20% in 2019. North America, including the major countries such as the U.S., is the most prominent region for the space propulsion system market. The presence of major players and intense competition among them makes North America the most technologically advanced region. The companies in the region secure contracts from end users, such as defense, commercial, and government agencies, to deploy their satellites and launch vehicles into space by using different types of propulsion systems.
The global space propulsion system market is gaining widespread importance owing to increasing efforts from commercial space companies as well as space agencies for developing more efficient, less-toxic and enhanced space propulsion systems to contribute to the significant growth of the space propulsion system market. Moreover, the development of cost-efficient propulsion technologies, advancements in the 3D printing technology for developing the components of space propulsion systems are some of the factors that may propel the market growth in the coming years.
Scope of the Space Propulsion System Market
The purpose of the market analysis is to examine the space propulsion system market outlook in terms of factors driving the market, trends, technological developments, and competitive benchmarking, among others.
The report further takes into consideration the market dynamics and the competitive landscape of the key players operating in the market.
Global Space Propulsion System Market Segmentation
The space propulsion system market is further segmented on the basis of application, propulsion type, end user, component, and region. While highlighting the key driving and restraining forces for this market, the report also provides a detailed study of the industry. The report analyzes different applications that include satellite and launch vehicle. In the propulsion type segment for satellite, the market is segmented into chemical propulsion system, electric propulsion system, and hybrid propulsion system. Also, in the propulsion type segment for launch vehicle, the market is segmented into solid propulsion system, liquid propulsion system, and hybrid propulsion system. On the basis of component, the space propulsion market is segmented into thruster or engine, propellant tank, pumps, valves & regulators and others. Apart from this, the market is also segmented into commercial and government & military on the basis of end user.
The space propulsion system market is segregated by region under four major regions, namely North America, Europe, Asia-Pacific, and Rest-of-the-World. Data for each of these regions is provided in the market study.
Key Companies in the Global Space Propulsion System Market
The key market players in the global space propulsion system market include 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, Phase Four, and Accion Systems Inc.