Electric Propulsion System Market to Surpass USD 2.43 Billion by 2031, Accelerating at 22.2% CAGR | Global Forecast 2025-2031

LOS ANGELES, United States: A recent report published by QY Research, titled, "Global Electric Propulsion System Market Insights - Industry Share, Sales Projections, and Demand Outlook 2025-2031", provides an in-depth analysis of the global Electric Propulsion System market. The global Electric Propulsion System market is comprehensively analyzed in the report with the main objective of providing accurate market data and useful recommendations to help players to gain strong growth in future. The report is compiled by subject matter experts and experienced market analysts, which makes it highly authentic and reliable. Readers are provided with deep analysis of historical and future market scenarios to get sound understanding of market competition and other important aspects.

The global Electric Propulsion System market was valued at US$ 609 million in 2024 and is anticipated to reach US$ 2433 million by 2031, witnessing a CAGR of 22.2% during the forecast period 2025-2031.

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Electric Propulsion (EP) is a class of space propulsion which makes use of electrical power to accelerate a propellant by different possible electrical and/or magnetic means. An electrically powered spacecraft propulsion system uses electrical energy to change the velocity of a spacecraft. Most of these kinds of spacecraft propulsion systems work by electrically expelling propellant at high speed. This report focus on Electric propulsion on the nano and microsatellite market.

Global Electric Propulsion System key players include Aerospace Corporation, SITAEL, Bellatrix Aerospace, Busek, Accion Systems, etc. Global top five manufacturers hold a share about 80%.

United States is the largest market, with a share about 60%, followed by Europe, with a share about 25 percent.

In terms of product, HET is the largest segment, with a share about 60%. And in terms of application, the largest application is Microsatellite, followed by Nano Satellite.

The authors of the report shed light on lucrative business prospects, prominent trends, regulatory situations, and price scenarios of the global Electric Propulsion System market. Importantly, the report gives a detailed analysis of macroeconomic and microeconomic factors impacting the growth of the global Electric Propulsion System market. It is divided into various sections and chapters to help with easy understanding of each and every aspect of the global Electric Propulsion System market. Market players can use the report to peep into the future of the global Electric Propulsion System market and bring important changes to their operating style and marketing tactics to achieve sustained growth.

The competitive landscape of the global Electric Propulsion System market is broadly studied in the report with large focus on recent developments, future plans of top players, and key growth strategies adopted by them. The analysts authoring the report have profiled almost every major player of the global Electric Propulsion System market and thrown light on their crucial business aspects such as production, areas of operation, and product portfolio. All companies analyzed in the report are studied on the basis of vital factors such as market share, market growth, company size, production volume, revenue, and earnings.

Key Players Mentioned in the Global Electric Propulsion System Market Research Report:

Aerospace Corporation
SITAEL
Bellatrix Aerospace
Busek Co. Inc.
Accion Systems Inc.

The report offers great insights into important segments of the global Electric Propulsion System market while concentrating on their CAGR, market size, market share, and future growth potential. The global Electric Propulsion System market is mainly segmented according to type of product, application, and region. Each segment in these categories is extensively researched to become familiar with their growth prospects and key trends. Segmental analysis is highly important to identify key growth pockets of a global market. The report provides specific information on the market growth and demand of different products and applications to help players to focus on profitable areas of the global Electric Propulsion System market.

Segment by Type

Gridded Ion Engine (GIE)
Hall Effect Thruster (HET)
High Efficiency Multistage Plasma Thruster (HEMPT)
Pulsed Plasma Thruster (PPT)
Other

Segment by Application

Nano Satellite
Microsatellite

In the regional segment chapter, various regions are studied on the basis of manufacturing and consumption of the product. The research report analyzes the geographically segments present in the global Electric Propulsion System market. It then further divides the regions into countries wise to provide a magnified view all the details of the market.

Key Questions Answered

The report answers important questions that companies may have when operating in the global Electric Propulsion System market. Some of the questions are given below:

(1) What will be the size of the global Electric Propulsion System market in 2025?

(2) What is the current CAGR of the global Electric Propulsion System market?

(3) Which product is expected to show the highest market growth?

(4) Which application is projected to gain a lion's share of the global Electric Propulsion System market?

(5) Which region is foretold to create the most number of opportunities in the global Electric Propulsion System market?

(6) Will there be any changes in market competition during the forecast period?

(7) Which are the top players currently operating in the global Electric Propulsion System market?

(8) How will the market situation change in the coming years?

(9) What are the common business tactics adopted by players?

(10) What is the growth outlook of the global Electric Propulsion System market?

Answering such types of questions can be very helpful for players to clear their doubts when implementing their strategies to gain growth in the global Electric Propulsion System market. The report offers a transparent picture of the real situation of the global Electric Propulsion System market so that companies can operate more effectively. It can be customized according to the needs of readers for better understanding of the global Electric Propulsion System market.

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Table of Contents

1 Electric Propulsion System Market Overview
1.1 Product Definition
1.2 Electric Propulsion System by Type
1.2.1 Global Electric Propulsion System Market Value by Type (2020-2031)
1.2.2 Gridded Ion Engine (GIE)
1.2.3 Hall Effect Thruster (HET)
1.2.4 High Efficiency Multistage Plasma Thruster (HEMPT)
1.2.5 Pulsed Plasma Thruster (PPT)
1.2.6 Other
1.3 Electric Propulsion System by Application
1.3.1 Global Electric Propulsion System Market Value by Application 2020-2031)
1.3.2 Nano Satellite
1.3.3 Microsatellite
1.4 Global Electric Propulsion System Revenue (2020-2031)
1.5 Assumptions and Limitations
1.6 Study Objectives
1.7 Years Considered
2 Key Insights
2.1 Key Emerging Trends
2.2 Key Developments - Mergers Acquisitions, New Product Launches, Collaborations, Partnerships and Joint Ventures
2.3 Latest Technological Advancements
2.4 Insights on Regulatory Scenarios
2.5 Porters Five Forces Analysis
3 Players Competitive Analysis
3.1 Global Electric Propulsion System Revenue by Player (2020-2025)
3.2 Electric Propulsion System Company Evaluation Quadrant
3.3 Industry Rank
3.3.1 Global Key Players of Electric Propulsion System, Industry Ranking, 2023 VS 2024
3.3.2 Global Electric Propulsion System Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.3.3 Global Electric Propulsion System Market Concentration Rate
3.3.4 Global 5 and 10 Largest Electric Propulsion System Players Market Share by Revenue
3.4 Electric Propulsion System Market: Overall Company Footprint Analysis
3.4.1 Electric Propulsion System Market: Region Footprint
3.4.2 Electric Propulsion System Market: Company Product Type Footprint
3.4.3 Electric Propulsion System Market: Company Product Application Footprint
3.4.4 Global Key Players of Electric Propulsion System, Date of Enter into This Industry
3.5 Competitive Environment
3.5.1 Historical Structure of the Industry
3.5.2 Barriers of Market Entry
3.5.3 Factors of Competition
4 Players Profiles
4.1 Aerospace Corporation
4.1.1 Aerospace Corporation Company Details
4.1.2 Aerospace Corporation Business Overview
4.1.3 Aerospace Corporation Electric Propulsion System Introduction
4.1.4 Aerospace Corporation Revenue in Electric Propulsion System Business (2020-2025)
4.1.5 Aerospace Corporation Recent Development
4.2 SITAEL
4.2.1 SITAEL Company Details
4.2.2 SITAEL Business Overview
4.2.3 SITAEL Electric Propulsion System Introduction
4.2.4 SITAEL Revenue in Electric Propulsion System Business (2020-2025)
4.2.5 SITAEL Recent Development
4.3 Bellatrix Aerospace
4.3.1 Bellatrix Aerospace Company Details
4.3.2 Bellatrix Aerospace Business Overview
4.3.3 Bellatrix Aerospace Electric Propulsion System Introduction
4.3.4 Bellatrix Aerospace Revenue in Electric Propulsion System Business (2020-2025)
4.3.5 Bellatrix Aerospace Recent Development
4.4 Busek Co. Inc.
4.4.1 Busek Co. Inc. Company Details
4.4.2 Busek Co. Inc. Business Overview
4.4.3 Busek Co. Inc. Electric Propulsion System Introduction
4.4.4 Busek Co. Inc. Revenue in Electric Propulsion System Business (2020-2025)
4.4.5 Busek Co. Inc. Recent Development
4.5 Accion Systems Inc.
4.5.1 Accion Systems Inc. Company Details
4.5.2 Accion Systems Inc. Business Overview
4.5.3 Accion Systems Inc. Electric Propulsion System Introduction
4.5.4 Accion Systems Inc. Revenue in Electric Propulsion System Business (2020-2025)
4.5.5 Accion Systems Inc. Recent Development
5 Analysis by Region
5.1 Global Electric Propulsion System Market Size by Region
5.1.1 Global Electric Propulsion System Revenue by Region: 2020 VS 2024 VS 2031
5.1.2 Global Electric Propulsion System Revenue by Region (2020-2025)
5.1.3 Global Electric Propulsion System Revenue by Region (2026-2031)
5.1.4 Global Electric Propulsion System Revenue Market Share by Region (2020-2031)
5.2 North America Electric Propulsion System Revenue (2020-2031)
5.3 Europe Electric Propulsion System Revenue (2020-2031)
5.4 Asia-Pacific Electric Propulsion System Revenue (2020-2031)
5.5 South America Electric Propulsion System Revenue (2020-2031)
5.6 Middle East & Africa Electric Propulsion System Revenue (2020-2031)
6 Market Scenario by Region & Country
6.1 Global Electric Propulsion System Revenue by Region & Country: 2020 Versus 2024 Versus 2031
6.2 Global Electric Propulsion System Revenue by Region & Country (2020-2031)
6.3 North America Electric Propulsion System Market Facts & Figures by Country
6.3.1 North America Electric Propulsion System Revenue by Country: 2020 VS 2024 VS 2031
6.3.2 North America Electric Propulsion System Revenue by Country (2020-2031)
6.3.3 U.S.
6.3.4 Canada
6.4 Europe Electric Propulsion System Market Facts & Figures by Country
6.4.1 Europe Electric Propulsion System Revenue by Country: 2020 VS 2024 VS 2031
6.4.2 Europe Electric Propulsion System Revenue by Country (2020-2031)
6.4.3 Germany
6.4.4 France
6.4.5 U.K.
6.4.6 Italy
6.4.7 Russia
6.5 Asia Pacific Electric Propulsion System Market Facts & Figures by Region
6.5.1 Asia Pacific Electric Propulsion System Market Size by Region: 2020 VS 2024 VS 2031
6.5.2 Asia Pacific Electric Propulsion System Revenue by Region (2020-2031)
6.5.3 China
6.5.4 Japan
6.5.5 South Korea
6.5.6 India
6.5.7 Australia
6.5.8 China Taiwan
6.5.9 Indonesia
6.5.10 Thailand
6.5.11 Malaysia
6.6 South America Electric Propulsion System Market Facts & Figures by Country
6.6.1 South America Electric Propulsion System Market Size by Country: 2020 VS 2024 VS 2031
6.6.2 South America Electric Propulsion System Revenue by Country
6.6.3 Mexico
6.6.4 Brazil
6.6.5 Argentina
6.7 Middle East and Africa Electric Propulsion System Market Facts & Figures by Country
6.7.1 Middle East and Africa Electric Propulsion System Market Size by Country: 2020 VS 2024 VS 2031
6.7.2 Middle East and Africa Electric Propulsion System Revenue by Country
6.7.3 Turkey
6.7.4 Saudi Arabia
6.7.5 UAE
7 Segment by Type
7.1 Global Electric Propulsion System Revenue by Type (2020-2025)
7.2 Global Electric Propulsion System Revenue by Type (2026-2031)
7.3 Global Electric Propulsion System Revenue Market Share by Type (2020-2031)
8 Segment by Application
8.1 Global Electric Propulsion System Revenue by Application (2020-2025)
8.2 Global Electric Propulsion System Revenue by Application (2026-2031)
8.3 Global Electric Propulsion System Revenue Market Share by Application (2020-2031)
9 Industry Chain and Sales Channels Analysis
9.1 Electric Propulsion System Industry Chain Analysis
9.2 Electric Propulsion System Key Raw Materials
9.2.1 Key Raw Materials
9.2.2 Raw Materials Key Suppliers
9.3 Electric Propulsion System Production Mode & Process
9.4 Electric Propulsion System Sales and Marketing
9.4.1 Electric Propulsion System Sales Channels
9.4.2 Electric Propulsion System Distributors
9.5 Electric Propulsion System Customers
10 Research Findings and Conclusion
11 Appendix
11.1 Research Methodology
11.1.1 Methodology/Research Approach
11.1.1.1 Research Programs/Design
11.1.1.2 Market Size Estimation
11.1.1.3 Market Breakdown and Data Triangulation
11.1.2 Data Source
11.1.2.1 Secondary Sources
11.1.2.2 Primary Sources
11.2 Author Details
11.3 Disclaimer

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