Press release
Market Insights and Projections: Analyzing Market Size and Forecast for the Space Propulsion Industry (2023-2028)
The Global Space Propulsion Market size is witnessing significant growth, with an estimated value of USD 10.6 billion in 2023. Projections indicate a robust CAGR of 11.3% during the forecast period, reaching USD 18.1 billion by 2028. The market is primarily driven by an increasing demand for advanced electric propulsion systems, substantial investments from venture capital companies in space exploration missions, and the growing utilization of small satellites in diverse commercial and military applications.Download PDF Brochure @
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=118742255
Market Trends and Dynamics:
Rise of Electric Propulsion: The report identifies a notable trend towards the adoption of electric propulsion systems, particularly in the non-chemical propulsion segment. Electric or ion propulsion is highlighted as a dominant force, offering advantages such as reduced propellant usage, higher exhaust speed, and the capability to provide sustained thrust for extended durations. This trend aligns with the demand for efficient and cost-effective propulsion solutions.
Growth in Medium Satellite Segment:
The market showcases a significant growth trajectory in the medium satellite segment, encompassing satellites with a wet mass between 500 kg and 2,500 kg. These medium satellites find applications in climate monitoring, Earth observation, scientific research, and surveillance. Despite higher operational and manufacturing costs compared to small satellites, the medium satellite segment is witnessing strong demand due to its diverse applications.
Asia Pacific Dominance:
Geographically, the Asia Pacific region is poised to lead the market during the forecast period. Initiatives like the Asia Pacific Regional Space Agency Forum (APRSAF) play a crucial role in enhancing space activities, fostering human resources development, and promoting science-technology capabilities. The region's participation in APRSAF facilitates growth strategies, technological advancements, and innovation, positioning it as a key player in the global space propulsion market.
Market Forecast and Analysis:
Satellite Platform Growth: Within the satellite platform category, medium satellites are anticipated to grow at a significant CAGR. The report delves into the distinct applications of CubeSats, small satellites, medium satellites, and large satellites, providing insights into the factors driving the growth of each segment.
Non-Chemical Propulsion Type Insights:
The non-chemical propulsion type, particularly electric propulsion, is expected to dominate the market. The analysis explores various propulsion types, including solar propulsion, tether propulsion, nuclear propulsion, and laser propulsion, shedding light on the advantages and applications of each.
Asia Pacific Market Leadership:
The report emphasizes the dominant position of the Asia Pacific region, attributing its leadership to the APRSAF's contributions in fostering growth strategies, technological advancements, and innovation. The analysis covers regional factors influencing market dynamics and growth trends.
Key Market Players and Global Presence:
Major players operating in the space propulsion market include Safran S.A. (France), SpaceX (US), L3Harris Technologies Inc. (US), IHI Corporation (Japan), and Northrop Grumman Corporation (US). These industry leaders boast well-equipped manufacturing facilities and robust distribution networks across North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Inquiry before buying @
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=118742255
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
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 Market Insights and Projections: Analyzing Market Size and Forecast for the Space Propulsion Industry (2023-2028) here
News-ID: 3350264 • Views: …
More Releases from MarketsandMarkets

Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your R …
The global laser interferometer market is expected to be valued at 315 million in 2024 and is projected to reach USD 447 million by 2029, at a CAGR of 7.2% from 2024 to 2029. Emerging applications in industries push the market's growth due to the growing demand for precision in the manufacturing sector. However, challenges such as higher initial investments and maintenance costs cause problems. Despite these, opportunities arise for…

With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to …
The battery testing, inspection, and certification market is projected to reach USD 36.7 billion by 2029 from USD 14.9 billion in 2024 at a CAGR of 19.6% during the forecast period. Increasing adoption of EVs and energy storage systems, rising enforcement of stringent standards to ensure battery safety, thriving portable electronics industry, and rapid advances in battery technology are the major factors contributing to the market growth.
Download PDF Brochure @…

Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMar …
The global RTLS market for healthcare is projected to grow from USD 2.3 billion in 2024 to USD 5.7 billion by 2029, at a compound annual growth rate of 19.6% from 2024 to 2029. As it attracts more and more players who enter this market with innovative RTLS features for customers, the market for RTLS technology is rapidly increasing. Top companies in this market focus on healthcare, retail, and manufacturing…

Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2 …
According to a research report "Offsite Data Center Power Infrastructure Market by Component (Solutions and Services), Vertical (BFSI, Media & Entertainment, Government & Defence, Healthcare, Manufacturing, IT & Telecom, Retail) and Region - Global Forecast to 2030" published by MarketsandMarkets, the market size for global offsite data center power infrastructure market is projected to reach approximately USD 35.4 billion by the year 2030, as compared to the estimated value of…
More Releases for Asia
Asia Private Equity Firm, Asia Private Equity Management, Asia Private Equity Se …
The private equity market in China has been rapidly growing in recent years. Private equity (PE) refers to the purchase of shares in a company that are not publicly traded on a stock exchange. PE firms typically target companies that are undervalued or in need of capital for growth, and aim to improve the company's operations and financial performance before selling it at a higher value.
https://boomingfaucet.com/
Asia Private Equity Consulting
E-mail:nolan@pandacuads.com
In China,…
South East Asia Business Jet Market And Top Key Players are Asia Corporate Jet, …
By 2022, the South East Asia Business Jet Markets estimated to reach US$ XX Mn, up from US$ XX Mn in 2016, growing at a CAGR of XX% during the forecast period. The Global Business Jet Market, currently at 21 million USD, contributes the highest share in the market and is poised to grow at the fastest rate in the future. The three broad categories of business jets are Small,…
LIXIL Asia Presents Asia Pacific Property Awards
Through its power brands GROHE and American Standard, LIXIL Asia signs a three-year deal to become the Headline Sponsor of the Asia Pacific Property Awards from 2019 until 2022.
23rd January 2019: The International Property Awards, first established in 1993, are open to residential and commercial property professionals from around the globe. They celebrate the highest levels of achievement by companies operating within the architecture, interior design, real estate and property…
PEOPLEWAVE WINS ASIA TECH PODCAST PITCHDECK ASIA 2019 AWARDS
15 January 2019, Singapore – Peoplewave, Asia’s leading data-driven HR technology company, won the Asia Tech Podcast (ATP) Pitchdeck Asia 2019 Awards, being awarded “Startup Most Likely to Succeed in 2019".
The 2019 Pitchdeck Asia Awards is an opportunity for the Asian Startup Ecosystem to shine a spotlight on some of its best startups. The awards were decided by a public vote. More than 7,200 votes were cast by registered LinkedIn…
Undersea Defence Technology Asia, UDT Asia 2011
Latest Military Diving Technologies featured in UDT Asia
Equipping Asia’s navies with the latest diving technology for asymmetric warfare and
operations
SINGAPORE, 17 October 2011 - Naval diving and underwater special operations is a field that is
seeing increased attention and investment amongst navies in Asia. Units such as the Indonesian Navy‟s KOPASKA, the Republic of Singapore Navy‟s Naval Diving Unit (NDU), the Royal Malaysian Navy‟s PASKAL are increasingly utilising specialised equipment for conducting…
Asia Diligence – Specialist Investigative Due Diligence for Asia & Beyond
Asia Diligence today announced the opening of its European Customer Services office in the United Kingdom. The office is to be managed by Steve Fowler and will focus on providing services to Asia Diligence’s European customers. Asia Diligence is also planning to open a US office in the near future, which will provide customer service to its US and North American clients.
Asked to comment on the move, Luke Palmer, the…