Emerging Trends to Drive Electric Propulsion Systems For Rockets Market Growth at 16.6% CAGR Through 2029

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Electric Propulsion Systems For Rockets Market Size Growth Forecast: What to Expect by 2025?
The market for electric propulsion systems in rockets has seen a rapid increase in size over recent years. 2024 saw a worth of $0.67 billion, that is projected to expand to $0.79 billion in 2025, an impressive compound annual growth rate (CAGR) of 16.9%. This significant growth during the historic period can be attributed to various factors, such as increased defence expenditure on space-related technologies, government backing for deep space missions, escalated funding provided by space agencies, military focus on maneuverable satellite platforms, and the incorporation of electric propulsion within national space policies.

How Will the Electric Propulsion Systems For Rockets Market Size Evolve and Grow by 2029?
Anticipated to witness a significant surge in the coming years, the market size of electric propulsion systems for rockets is projected to reach $1.46 billion by 2029, with a compound annual growth rate (CAGR) of 16.5%. The growth during the forecasted timeframe is credited to surging commercial investments in reusable launch systems, an escalated count of small satellite deployments, rising requirement for satellite constellations, increased CubeSat missions that necessitate propulsion for orbit correction, and an amplified demand for in-orbit servicing and refueling missions. The forecast period is also expected to see major trends such as the rising efficiency of ion and hall effect thrusters, the miniaturization of electric propulsion components, advancements in plasma propulsion technology, the development of modular propulsion systems, and the incorporation of artificial intelligence in propulsion control.

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What Drivers Are Propelling the Growth of Electric Propulsion Systems For Rockets Market Forward?
The rise in satellite launches, fueled by an increased demand for universal connectivity, is expected to drive expansion in the rocket electric propulsion systems market in the forthcoming years. The act of propelling satellites into space, using launch vehicles for placement into designated orbits for operational deployment, is what's referred to as satellite launches. This trend is on the rise due to the ever-growing need for internet access, communication services, and data transmission globally, necessitating more satellite networks to be in orbit. This growth in satellite launches creates a corresponding demand for rocket electric propulsion systems, as these systems offer the much-needed efficient, long-lasting propulsion essential for station-keeping, orbit raising, and maneuvering. This is achieved with unparalleled fuel efficiency and control accuracy that electric systems provide. For example, by April 2024, there were more than 9,000 active satellites in orbit, as reported by the UK-based National Space Operations Centre (NSpOC), an organization dedicated to space surveillance and protection. By the year 2030, they estimate this figure will surpass 60,000. Therefore, the escalating number of satellite launches is projected to fuel the growth of the rocket electric propulsion systems market.

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Which Emerging Trends Are Transforming the Electric Propulsion Systems For Rockets Market in 2025?
Leading firms in the rocket electric propulsion systems market are concentrating on the creation of innovative solutions like electric propulsion thrusters for exhaustive and accurate thrust control. These propulsion thrusters capitalize on electric power to speed up a propellant, producing thrust, and ensuring efficient spacecraft manoeuvrability in space. For instance, in March 2024, US-based in-space mobility provider, Benchmark Space Systems, announced the deployment of the Xantus electric propulsion system. This system, utilizing solid metal to generate a plasma plume which is then electrically stimulated to produce thrust, stands out as an electric propulsion solution specific to compact spacecraft, including CubeSats and microsatellites. Designed for in-space use, the Xantus system supports operations like orbital adjustments, position preservation, and safe deorbiting, despite not contributing to launch operations. Its primary function, however, is enhancing satellite maneuverability once in orbit.

What Are the Key Segments in the Electric Propulsion Systems For Rockets Market?
The electric propulsion systems for rockets market covered in this report is segmented -

1) By Type: Electrothermal, Electrostatic, Electromagnetic
2) By Application: Commercial, Military, Scientific
3) By End-User: Satellite Operators, Space Agencies, Defense Organizations, Other End-Users

Subsegments:
1) By Electrothermal: Resistojets, Arcjets, Microwave Electrothermal Thrusters (METs)
2) By Electrostatic: Gridded Ion Thrusters, Hall Effect Thrusters, Colloid Thrusters
3) By Electromagnetic: Magnetoplasmadynamic (MPD) Thrusters, Pulsed Plasma Thrusters (PPTs), Field-Reversed Configuration Thrusters (FRCs)

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Who Are the Key Players Shaping the Electric Propulsion Systems For Rockets Market's Competitive Landscape?
Major Companies operating in the electric propulsion systems for rockets market are Airbus SE, Northrop Grumman Corp., Safran SA, Thales Group, L3Harris Technologies Inc., IHI Corporation, Moog Inc., ArianeGroup SAS, OHB System AG, Sierra Nevada Corporation, Phase Four Inc., Dawn Aerospace B.V., Bradford Space Group, Pulsar Fusion Ltd., Exotrail SA, Busek Co. Inc., ThrustMe SAS, Enpulsion GmbH, Orbion Space Technology Inc., Space Electric Thruster Systems (SETs).

What Geographic Markets Are Powering Growth in the Electric Propulsion Systems For Rockets Market?
North America was the largest region in the electric propulsion systems for rockets market in 2024. The regions covered in the electric propulsion systems for rockets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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