Global Space Propulsion System Market Trends, Companies, Driver, Segmentation, Forecast to 2029

The report "Global Space Propulsion System Market, By Spacecraft (Chemical Propulsion Systems, Electric Propulsion Systems, and Other Propulsion Systems), By Launch Vehicle (Solid Propulsion System, Liquid Propulsion System, and Hybrid Propulsion System), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2023”.

Key Highlights:

In February 2020, Aerojet Rocketdyne has been awarded a $63.2 millionOther Transaction Authority by the U.S. Navy to develop an advanced propulsion system for the MK 54 MOD 2 Advanced Lightweight Torpedo (ALWT)
In June 2019, NASA selected six research and development projects under its Small Business Innovation Research (SBIR) Program Phase II funding for the development of new high-impulse thrusters and communication technologies for spacecraft
In November 2019, Blue Origin chosen for NASA commercial lunar payload services (CLPS) initiative

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Analyst View:

Market Growth Drivers

Initiative by government and private sector
Demand for low-cost small satellites and development of reusable space launch vehicles
Opportunities and Trends

Shift from traditional propulsions (chemical propulsion system) in spacecraft to the new generation propulsions systems (electric propulsion system)
Dominance of satellite propulsion systems
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Space Propulsion System Market”, By Spacecraft (Chemical Propulsion Systems, Electric Propulsion Systems, and Other Propulsion Systems), By Launch Vehicle (Solid Propulsion System, Liquid Propulsion System, and Hybrid Propulsion System), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2023”.

Key Market Insights from the report:

The market report has been segmented on the basis of spacecraft launch vehicle, and region.

By spacecraft, the global market is segmented into chemical propulsion systems, electric propulsion systems, and other propulsion systems.
By launch vehicle, the target market is classified into solid propulsion system, liquid propulsion system, and hybrid propulsion system.
By region, North America is the fastest growing region. Economic growth, expansion of the commercial & military aviation, and increase in the number of space expeditions are factors driving the growth of the North America propulsion systems market.

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Competitive Landscape:

The prominent player operating in the global space propulsion system market includes Honeywell International Inc., Safran SA, Blue Origin, Moog Inc., Aerojet Rocketdyne Holdings Inc., Space Exploration Technologies Corp, Accion Systems Inc., IHI Corporation, Sierra Nevada Corporation, and Northrop Grumman Corporation.

The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.

Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies
Detailed analysis of the market revenue over the forecasted period
Examining various outlooks of the market with the help of Porter’s five forces Analysis, PEST & SWOT Analysis
Study on the segments that are anticipated to dominate the market
Study on the regional analysis that is expected to register the highest growth over the forecast period

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