Space Propulsion Global Market Analysis, Trends, Growth, Research And Forecast 2033

The new report published by The Business Research Company, titled "Space Propulsion Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the space propulsion market size has grown rapidly in recent years. It will grow from $10.41 billion in 2023 to $12.38 billion in 2024 at a compound annual growth rate (CAGR) of 19.0%. The space propulsion market size is expected to see rapid growth in the next few years. It will grow to $23.85 billion in 2028 at a compound annual growth rate (CAGR) of 17.8%.

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Government Investments Fuels Growth In The Space Propulsion Market
Increased government investments in space technology are driving the space propulsion market. For instance, in 2021, Westcott Space Cluster in Aylesbury Vale Enterprise Zone invested in a new National Space Propulsion Test Facility (NSPTF), which collected £4 million ($5.44 million) in sponsoring from the UK government Space Agency. The new facility will permit innovation in propulsion technology, including low cost development and testing of more capable engines for interplanetary travel. So, increasing investments in space technology will drive the space propulsion market going forward.

Rising Investment Expand Space Propulsion Market
Research and development are a key trend gaining popularity in the space propulsion market. For instance, in 2021, the US federal government remains the major source of funding for space R&D. Investment in new space industries now accounts for approximately $5 billion to $6 billion per annum in Space Research & Development investment up from less than $1 billion only a decade ago. Some of these industries receive funding from investment firms, while others are backed by their wealthy founders. Commercial research and development investing within the space department have grown by 22% per annum and more than twice the 10% improvement for US government spending.

The space propulsion market covered in this report is segmented -

1) By Type: Chemical Propulsion, Non-chemical Propulsion
2) By Platform: Satellites, CapsulesCargos, Interplanetary Spacecraft & Probes, Rovers/Spacecraft Landers, Launch Vehicles
3) By System Component: Chemical Propulsion Thrusters, Electric Propulsion Thrusters, Propellant Feed Systems, Rocket Motors, Nozzles, Propulsion Thermal Control, Power Processing Units
4) By Orbit: Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Earth Orbit (GEO), Beyond Geosynchronous Orbit
5) By End User: Commercial, Government & Defense

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Major companies operating in the space propulsion market include OHB SE, Accion Systems Inc., The Boeing Company, Northrop Grumman Corporation, Maxar Technologies Inc., Thales Alenia Space, Airbus SE, VACCO Industries Inc., Moog Inc., Cobham Mission Systems Wimborne Limited., Safran S.A., NPO Splav, BAE Systems plc, Hanwha Group, Avibras Indústria Aeroespacial S.A., Blue Origin LLC, The Aerospace Corporation, Aerojet Rocketdyne Holdings Inc., Astrobotic Technology Inc., ArianeGroup, IHI Corporation, Mitsubishi Heavy Industries Ltd., Honeybee Robotics Ltd., Bluestaq LLC, Aurora Flight Sciences Corporation., Planet Labs Inc., Sierra Nevada Corporation, Avio SpA, Beta Technologies Inc.

Contents of the report:
1. Executive Summary
2. Space Propulsion Market Report Structure
3. Space Propulsion Market Trends And Strategies
4. Space Propulsion Market - Macro Economic Scenario
5. Space Propulsion Market Size And Growth
…..
27. Space Propulsion Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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