Space Propulsion Systems Market CAGR to be at 13.8% | $26.05 billion Industry Revenue by 2030

Space Propulsion Systems Market Overview and Scope 2025-2031 -

The Space Propulsion Systems market represents a diverse and expansive global industry comprising materials and solutions that support high-performance applications. These components are integrated across multiple end-user industries, where they provide foundational support for new technologies, durable products, and environmentally conscious systems.

The global Space Propulsion Systems market was valued at US$ 10.68 billion in 2023 and is anticipated to reach US$ 26.05 billion by 2030, witnessing a CAGR of 13.8% during the forecast period 2024-2030.

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Space propulsion systems are used to generate thrust in spacecraft, launch vehicles, capsules/cargos, and rovers/spacecraft landers for orbit insertion, station keeping, lifting launch vehicles into space, and attitude control, among others. These systems include chemical and non-chemical propulsion technologies such as electric, solar, nuclear, and laser propulsions.

The components used in space propulsion systems include thrusters, propellant feed systems, rocket motors, nozzles, reactors, propulsion thermal control, and power processing units (PPU).The primary function of the space propulsion system is to provide thrust, which helps in the functioning of the launch vehicle or satellite. In propulsion systems, the fluid (either solid, liquid, or electric) reacts to initiate acceleration and provide force in the system.

Global key players of Space Propulsion Systems include Aerojet Rocketdyne, Safran, CASC, etc. The top three players hold a share over 35%. North America is the largest production area, has a share about 40%, followed by Europe, with share 33%. In terms of product type, Electric Propulsion is the largest segment, occupied for a share of 29%, and in terms of end usrers, National Space Agencies has a share about 34%.

Top Market Players

According to the QY Research report, leading global companies in the Space Propulsion Systems market include:

Safran
Northrop Grumman
Aerojet Rocketdyne
ArianeGroup
Moog
IHI Corporation
CASC
OHB System
SpaceX
Thales
Roscosmos
Lockheed Martin
Rafael
Accion Systems
Busek
Avio
CU Aerospace
Nammo

Companies are selected based on parameters such as: -

Revenue generation
Manufacturing facilities
R&D investments
Market share and innovation pipeline
Geographical presence

These leaders often pursue strategic alliances, M&A activity, and geographic expansion to maintain competitiveness and meet rising customer expectations.

Market Dynamics and Global Outlook -

The Space Propulsion Systems market operates within a complex web of global dynamics, influenced by geopolitical tensions, economic fluctuations, and regulatory frameworks. Despite these challenges, the market continues to expand, driven by the growing demand from emerging economies and the proliferation of innovative solutions. Asia-Pacific, in particular, has emerged as a key player, fuelled by rapid industrialization and infrastructure development.

Opportunities and Investment Potential -

The report outlines a series of promising opportunities within the market:

Product Diversification: Companies can cater to new industries or innovate within existing lines to gain market share.

Sustainability-Focused Development: Creating eco-friendly Space Propulsion Systems products can attract environmentally conscious clients and unlock new markets.

Strategic Partnerships: Collaborating with tech companies, universities, or government agencies can enhance innovation and credibility.

An investment proposition matrix provided in the report highlights high-growth segments and regions that present strong ROI potential over the next decade.

Challenges and Market Constraints -

Despite its promising outlook, the Space Propulsion Systems market faces a few key hurdles:

Volatile Raw Material Prices: Fluctuating input costs can affect profitability and pricing strategies.

Regulatory Pressure: Adapting to region-specific environmental and safety standards demands continuous compliance investment.

Technological Obsolescence: Rapid technological advancements may render existing products outdated unless constant innovation is pursued.

Detailed of Space Propulsion Systems Market Segmentation: -

Segmentation By Type :-

Solid Propulsion
Liquid Propulsion
Electric Propulsion
Hybrid Propulsion
Others

Segmentation By Application : -

Satellite Operators and Owners
Space Launch Service Providers
National Space Agencies
Departments of Defense
Others

Regional Insights -

North America

Dominated by the U.S., North America has a robust demand for technologically advanced and regulatory-compliant Space Propulsion Systems solutions. Investments in renewable energy, automotive electrification, and biomedical R&D drive growth in this region.

Europe

With strict environmental norms and a strong manufacturing base, Europe continues to push for innovation in sustainable Space Propulsion Systems alternatives, especially in construction and energy sectors.

Asia-Pacific

Countries like China, Japan, South Korea, and India are emerging as manufacturing hubs. Favourable government policies, large-scale infrastructure projects, and access to raw materials have positioned APAC as the fastest-growing region in the Space Propulsion Systems market.

Latin America & EMEA

These regions show growing interest due to increased demand in agriculture, automotive, and consumer products, supported by international investments and technology transfer.

Key Features Of The Study:-

ᗒ This report provides in-depth analysis of the global Space Propulsion Systems market, and provides market size (us$ million) and cagr for the forecast period (205-2031), considering 2023 as the base year.

ᗒ This report profiles key players in the global Space Propulsion Systems market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Space Propulsion Systems sales data, market share and ranking.

ᗒ This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.

ᗒ This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.

ᗒ The global Space Propulsion Systems market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.

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Table of Contents with Major Points : -

1. Executive Summary

1.1. Market Analysis
1.2. Global & Segmental Market Estimates & Forecasts, 2025-2031 (USD Billion)
1.2.1. Space Propulsion Systems Market, by Region, 2025-2031 (USD Billion)
1.2.2. Space Propulsion Systems Market, by Type, 2025-2031 (USD Billion)
1.2.3. Space Propulsion Systems Market, by Application, 2025-2031 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

2. Global Space Propulsion Systems Market Definition and Scope

2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

3. Global Market Dynamics

3.1. Space Propulsion Systems Market Impact Analysis (2025-2031)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities

4. Global Industry Analysis

4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2025-2031)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion

5. Global Market, by Type

5.1. Market Analysis
5.2. Global Space Propulsion Systems Market by Type, Performance - Potential Analysis
5.3. Global Space Propulsion Systems Market Estimates & Forecasts by Type 2025-2031 (USD Billion)
5.4. Space Propulsion Systems Market, Sub-Segment Analysis

6. Global Market, by Application

6.1. Market Analysis
6.2. Global Space Propulsion Systems Market by Application, Performance - Potential Analysis
6.3. Global Space Propulsion Systems Market Estimates & Forecasts by Application 2025-2031 (USD Billion)
6.4. Space Propulsion Systems Market, Sub-Segment Analysis
6.4.1. Others

7. Regional Analysis

7.1. Space Propulsion Systems Market, Regional Market Analysis
7.2. North America Space Propulsion Systems Market
7.3. Europe Space Propulsion Systems Market Analysis
7.4. Asia-Pacific Space Propulsion Systems Market Analysis
7.5. Latin America Space Propulsion Systems Market Analysis
7.6. Rest of The World Space Propulsion Systems Market

8 Competitive Intelligence

8.1. Top Market Strategies
8.2. Company Profiles
8.2.1. Key player 1
8.2.1.1. Key In Durationation
8.2.1.2. Overview
8.2.1.3. Financial (Subject to Data Availability)
8.2.1.4. Product Summary
8.2.1.5. Recent Developments

9. Research Process

9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes

Important questions answered in the report includes of:

ᗒ How will the market for the XYZ Market industry grow in 2025?

ᗒ Which well-known major companies will drive the market's growth?

ᗒ Which size of business held the biggest market share for data centre?

ᗒ What is the market's Compound Annual Growth Rate (CAGR) for the 2025-2031 forecast period?

ᗒ What is the primary factor driving the market's expansion?

ᗒ In the market, which region held the highest market share?

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