openPR Logo
Press release

Electric Propulsion Satellite Market Report Highlights the Competitive Scenario USD 24.59 Billion by 2030, With a CAGR of 7.61%

Electric Propulsion Satellite Market

Electric Propulsion Satellite Market

The global electric propulsion satellite market size was valued at USD 13.59 billion in 2022 and is anticipated to be worth USD 14.72 billion in 2023. The market is projected to be valued at USD 24.59 billion by 2030, recording a CAGR of 7.61% during the forecast period of 2023-2030.

Get Sample PDF Brochure:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/electric-propulsion-satellite-market-105552

The global electric propulsion satellite market is anticipated to register strong growth due to the satellite's widespread usage in a variety of space-based applications including navigational & telecommunication, astronomy, earth observation, environmental studies, space exploration, and others. Small satellites are being preferred over medium and heavy satellites as they can be used for civilian, commercial, and military applications. These satellites are also gaining traction among end-users due to the high demand for satellite constellations, cyberattack threats, commercialization of the space industry, and growing focus of new market players on small satellites. Such factors will play a vital role in expanding the electric propulsion satellite market share.

Fortune Business Insights™ displays this information in a report titled, "Global Electric Propulsion Satellite Market, 2023-2030."

Drivers and Restraints:

Growing Space Launches for Defense & Commercial Applications to Bolster Market Growth

Electronic propulsion satellites are being increasingly used in several sectors due to their high efficiency and performance. All-electric small satellites are being increasingly utilized owing to their low cost and commercial availability of off-the-shelf systems & spare parts for satellite assembly.

According to a report by the European Commission - electric propulsion & related industry, the process of manufacturing electric propulsion systems and satellites is a technical challenge that calls for long-term, high-risk capital investments. These factors are negatively affecting the market growth due to the high entry barriers for new entrants.

Segments:

Robust Deployment of All-electric Satellites to Boost Satellite Manufacturing will Drive Market

Based on satellite type, the market is divided into hybrid and all-electric.

The all-electric segment was the largest and fastest-growing segment in 2022. Space-based services are finding robust application in commercial and military domains, which will drive the demand for all-electric propulsion satellites during the forecast timeframe. This is because these satellites are lightweight and do not incur high launch cost/kg as the conventional propellant storage system are not present in these systems.

High Adoption of Small Satellites for Satellite Constellation for Commercial and Military Sectors to Drive Market Growth

In terms of satellite size, the market is classified into small satellites, medium satellites, and heavy satellites. The small satellites segment is projected to record the fastest CAGR during the forecast period. Various countries are increasing their R&D investments in small, micro, and nano-satellites-based constellations as they will be widely deployed in armed forces, environmental research, in-flight communication, and satellite-based internet.

High Demand for Electrothermal Propulsion of Satellites to Aid Segmental Growth

Based on propulsion, the market is classified into electrothermal propulsion, electrostatic propulsion, and electromagnetic propulsion. The electrothermal propulsion segment is considered the largest segment, with the highest market share in 2022 and is expected to maintain its dominance during the forecast period, owing to high demand for electrothermal propulsion of satellites.

Increased Investment in Propulsion Systems to Bolster the Electric Propulsion Satellite Market Growth

In terms of subsystem, the market is segmented into structure & mechanisms, Thermal Control System (TCS), Electric Power System (EPS), Altitude Control System (ACS), telemetry tracking & command, flight software, propulsion system, and others. The propulsion system segment held the largest market share in 2022 and is anticipated to be the fastest-growing segment during the forecast period. Space agencies and leading companies across the globe are heavily investing in and adopting next-generation propulsion systems through their governments' financial support toward space propulsion due to high demand for satellite solutions for various applications.

Creation of Next-Gen Earth Observation Satellites to Drive Market Growth

In terms of application, the market covers earth observation & sciences, navigation, telecommunication, astronomy, interplanetary & space exploration, and others. The earth observation & sciences segment captured the largest market share in 2022. Space agencies are developing cutting-edge earth observation & environmental sciences satellites for Low Earth Orbit (LEO) systems. This development will positively impact the market outlook.

Based on region, the market is divided into North America, Europe, Asia Pacific, and the Rest of the World.

Inquire Before Buying This Research Report:

https://www.fortunebusinessinsights.com/enquiry/queries/electric-propulsion-satellite-market-105552

Report Coverage:

The research report provides a detailed analysis of the global market. It focuses on different aspects such as key players, product offerings, and end-users of electric propulsion satellites. The report also provides valuable insights into advanced technologies, trends, competitive landscape, competition, and product pricing and highlights key industry developments. In addition to the aspects mentioned above, it encompasses several direct and indirect factors that have contributed to the global market's growth over the years.

Regional Insights:

North America to Dominate the Market due to High-tech Military, Civilian, and Commercial Satellite Launches

North America held the largest share in the market in 2022 and is projected to be the fastest-growing region during the forecast timeframe. Growing government investments in high-tech military, civilian, and commercial satellite launches due to rising need for satellite services will boost the regional market growth. Since the commercialization of the space industry in 2008, many new entrants have flourished in the North American space sector. Rising number of small satellite launches will bolster the market growth during the forecast period.

Competitive Landscape:

Companies to Focus on Developing Advanced E-axle Technologies

The top five companies operating in the market include Lockheed Martin Corporation, the Boeing Company, Thales Group, Aerojet Rocketdybe Holding Inc., Airbus S.A.S., and Northrop Grumman Corporation. The market is highly concentrated with various regional players.

Key Industry Development:

February 2023: Thales Alenia Space was awarded a contract by Korea Aerospace Research Institute (KARI) to deliver electric propulsion systems for GEO-KOMSAT-3 multi-band communication satellite equipped with Satellite-based Augmentation System (SBAS), and is scheduled to launch by 2027.

LIST OF LEADING ORGANIZATIONS PROFILED IN THE REPORT

Lockheed Martin Corporation (U.S.)
Northrop Grumman Corporation (U.S.)
Thales Group (France)
The Boeing Company (U.S.)
Airbus S.A.S. (France)
OHB S.E. (Germany)
INVAP S.E. (Argentina)
Accion Systems Inc.
Aerojet Rocketdyne Holding Inc. (U.S.)
ArianeGroup GmbH (France)
AeroAstro Inc. (U.S.)
SSC Roscosmos (Russia)
Safran Group (France)
Sitael S.p.A. (Italy)

Contact us for Customization in the Report:

https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/electric-propulsion-satellite-market-105552

Contact Us:

Fortune Business Insights Pvt. Ltd.

9th Floor, Icon Tower,

Baner - Mahalunge Road, Baner,

Pune-411045, Maharashtra, India.

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: sales@fortunebusinessinsights.com

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Electric Propulsion Satellite Market Report Highlights the Competitive Scenario USD 24.59 Billion by 2030, With a CAGR of 7.61% here

News-ID: 3064706 • Views:

More Releases from Fortune Business Insights™ Pvt Ltd

Rugged Display Market Analysis, Trends, Demand & Opportunities USD 6.36 Billion by 2030, Exhibiting a CAGR of 7.83%
Rugged Display Market Analysis, Trends, Demand & Opportunities USD 6.36 Billion …
The global rugged display market size reached USD 3.57 billion in 2022. The market value is expected to increase from USD 3.75 billion in 2023 to USD 6.36 billion by 2030, exhibiting a CAGR of 7.83% during the forecast period. A rugged display is one that is intended to function effectively in challenging situations and surroundings such as strong vibration, extreme temperatures, or humid or dusty working environments. Various display types
Aircraft Leasing Market Facts, Development and Growth USD 317.5 Billion by 2030, Exhibiting a CAGR of 9.07%
Aircraft Leasing Market Facts, Development and Growth USD 317.5 Billion by 2030, …
The global aircraft leasing market size was valued at USD 167.5 billion in 2022. The market is projected to grow from USD 172.9 billion in 2023 to USD 317.5 billion by 2030, exhibiting a CAGR of 9.07% during the forecast period. A lease for an aircraft is a formally recorded contract between two parties, typically a lessor and a lessee. For a set amount of time, the lessor agrees to
Anti-Jamming Market Share, Size & Growth Opportunities USD 8.28 Billion by 2029, With a 12.36%
Anti-Jamming Market Share, Size & Growth Opportunities USD 8.28 Billion by 2029, …
The global anti-jamming market size was valued at USD 3.39 billion in 2021 and USD 3.66 billion in 2022. The market is expected to reach USD 8.28 billion by 2029 with a CAGR of 12.36% during the forecast period. The proliferation of GPS jamming activities is set to create demand for anti-jammers in commercial aviation and is expected to propel the market course in a growing direction. Increasing procurement of
Main Battle Tank Market Size, Key Analysis And Comprehensive Growth USD 6.90 Billion by 2030, With a CAGR of 3.2%
Main Battle Tank Market Size, Key Analysis And Comprehensive Growth USD 6.90 Bil …
The global main battle tank market size was valued at USD 5.35 billion in 2022. The market is projected to grow from USD 5.54 billion in 2023 to USD 6.90 billion by 2030, exhibiting a CAGR of 3.2% during the forecast period. Main battle tanks are armored vehicles equipped with advanced fire control systems, guns, and armor protection. They provide maneuverability and direct fire features are in high demand as

All 5 Releases


More Releases for Satellite

Satellite Transponders Market to Witness Huge Growth by 2026| APT Satellite Comp …
Latest released the research study on Global Satellite Transponders Market, offers a detailed overview of the factors influencing the global business scope. Satellite Transponders Market research report shows the latest market insights, current situation analysis with upcoming trends and breakdown of the products and services. The report provides key statistics on the market status, size, share, growth factors of the Satellite Transponders. The study covers emerging player's data, including: competitive
Satellite Transponders Leasing Market Is Booming Worldwide | SingTel Optus, MEAS …
HTF MI recently introduced Global Satellite Transponders Leasing Market study with in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status to 2023. The market Study is segmented by key regions which is accelerating the marketization. At present, the market is developing its presence and some of the key players from the complete study are Intelsat, SES, Eutelsat, SingTel Optus, MEASAT satellite systems, Asia Broadcast
Satellite Market by Type (Large Satellite, Mini Satellite, Micro Satellite, and …
The global satellite market is driven by increase in demand for direct to home (DTH) television, high definition TV conversion, and intercontinental transmission in developed economies. In addition, continuous growth of video diffusion and internet access, increase in demand for digital TV and growth in communication and broadcasting market fuels the market growth. However, technology risk, spectrum access risk, and increase in competition from fiber optical cable limit the market
Satellite Market by Type (Large Satellite, Mini Satellite, Micro Satellite, and …
The global satellite market is segmented on the basis of type, end user, and application. Type segment covered in this study include large satellite, mini satellite, micro satellite, and nano satellite. Based on end user, the market is categorized into commercial, civil, government, and others. On the basis of application, the market is divided into scientific research, technology demonstration and verification, earth observation and remote sensing, scientific research, communication, and
Satellite Transponders Leasing Market Outlook to 2025 - MEASAT satellite systems …
The satellite transponders leasing market is anticipated to grow at a CAGR of 4.43% during the forecast period of 2015-2025 and accounts for US$ 19,225.3 Mn in the year 2025. An exclusive Satellite Transponders Leasing market research report created through broad primary research (inputs from industry experts, companies, and stakeholders) and secondary research, the report aims to present the analysis of Global Satellite Transponders Leasing Market By Type, By Application, By
Satellite Transponders Leasing Market Outlook to 2025 – Intelsat, SES, Telesat …
ReportsWeb.com added “Satellite Transponders Leasing Market - Global Trends, 2018 Analysis and 2025 Forecasts” report to its research database. This Report is spread across 150 Pages and Supported by 10 Company Leaders. Satellite transponders are small chip size circuits that are integrated into satellites for the purpose of transmitting the uplink data/information to the downlink and vice-versa. The rising trend of advanced channel broadcasting has escalated the demand for satellite transponders