Satellite Propulsion System Market to Grow at 15.9% CAGR, Reaching $10.72 Billion by 2029

Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.

Satellite Propulsion System Market Outlook: How is the Market Expected to Grow by 2025?
In recent times, the satellite propulsion system market has seen notable growth. The market, which was valued at $5.05 billion in 2024, is projected to increase to $5.93 billion in 2025, marking a compound annual growth rate (CAGR) of 17.5%. Factors contributing to this growth in the past have included pioneering space exploration, the implementation of chemical propulsion systems, advancements in miniaturization and efficiency, the development of electric propulsion, and the expansion of mission extension services.

Satellite Propulsion System Market Forecast: What Size Will It Reach By 2029?
Significant expansion is projected for the satellite propulsion system market in the forthcoming years, with the valuation expected to surge to $10.72 billion by 2029 and a compound annual growth rate (CAGR) of 15.9%. This anticipated growth can be linked back to increased deployments of small satellites, advancements made in electric propulsion technology, a rising demand for on-orbit servicing, the booming earth observation market, and new regulations pertaining to space traffic management. Key trends to watch out for over this projection period include a surging demand for in-space maneuverability, further advancements in electric propulsion, the continuous rise of small satellite missions, the deployment of satellite constellations, and a heightened focus on cost efficiency.

Explore The Complete Report Now:
https://www.thebusinessresearchcompany.com/report/satellite-propulsion-system-global-market-report

Which Key Market Drivers Will Shape Satellite Propulsion System Industry Trends in 2025-2029?
The satellite propulsion systems market is set to grow with the expansion of space exploration. As a field, space exploration involves studying and investigating celestial bodies using continuously advancing and broadening space technologies. Satellite propulsion systems, which are high-tech, are employed in space exploration to enhance deep space exploration capacities, allowing for space navigation and controlled landings. As per the Union of Concerned Scientists, a nonprofit organization in the US advocating for science, as of January 2022, there were 5,465 active satellites with an addition of 703 satellites in 2021. Additionally, the National Aeronautics and Space Administration, an independent agency in the US responsible for civil space programs and aeronautics research, reported a 3% rise in the agency's annual budget in March 2022, reaching around $24 billion, with $7.6 billion allocated for deep space exploration. Hence, the increase in space exploration activities is fueling the growth of the satellite propulsion systems market.

Get Free Sample Report Here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9300&type=smp

What Are the High-Growth Segments in the Satellite Propulsion System Market?
The satellite propulsion system market covered in this report is segmented -

1) By Type: Chemical Propulsion, Electric Propulsion, Hybrid Propulsion, Other Types
2) By Orbit: Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Earth Orbit (GEO), Beyond Geosynchronous Orbit
3) By Application: Commercial Use, Science And Environment, National Security And Military, Meteorology, Other Applications

Subsegments:
1) By Chemical Propulsion: Monomethyl Hydrazine (MMH), Hydrazine, Hypergolic Propellants, Solid Propellant Systems
2) By Electric Propulsion: Ion Thrusters, Hall Effect Thrusters, Pulsed Plasma Thrusters
3) By Hybrid Propulsion: Hybrid Rocket Motors, Hybrid Electric Propulsion Systems
4) By Other Types: Cold Gas Thrusters, Green Propulsion Systems, Solar Sail Propulsion

Which Global Trends Are Driving Satellite Propulsion System Market Expansion?
The satellite propulsion system market is seeing a significant trend in product innovations. Major firms in the market are primarily focussed on creating fresh technological solutions to fortify their standings. For example, in March 2024, Valiant Space managed to launch its inaugural propulsion system, the Valiant VS-1 thruster, into orbit on Space Machines Company's (SMC) Optimus Orbital Servicing Vehicle (OSV) with the help of a SpaceX Falcon 9 rocket. The event is remarkable in being the first-ever successful launch of an Australian bi-propellant propulsion system, and forms part of the most significant Australian spacecraft to be launched so far.

Customize Your Insights And Get The Full Report Here:
https://www.thebusinessresearchcompany.com/customise?id=9300&type=smp

Who Are the Fastest-Growing Companies in the Satellite Propulsion System Industry?
Major companies operating in the satellite propulsion system market include Airbus SAS, Aerojet Rocketdyne Holdings Inc., Moog Inc., Busek Co Inc., Bellatrix Aerospace Private Limited, Exotrail SA, ENPULSION GmbH, Cobham Limited, Ball Corporation, The Boeing Company, Mitsubishi Electric Corporation, OHB System AG, Safran S A, Thales Group, Northrop Grumman Corporation, CU Aerospace, Rocket Lab, Rafael Advanced Defense Systems Ltd., Ariane Group, General Dynamics Mission Systems, Blue Origin, Lockheed Martin Corporation, Bradford Space, Sierra Nevada Corporation, Clyde Space Ltd., Comtech AeroAstro Inc., Dawn Aerospace, Deep Space Industries, Firefly Aerospace, General Atomics Electromagnetic Systems

What Is the Regional Outlook for the Satellite Propulsion System Market by 2029?
North America was the largest region in the satellite propulsion system market in 2024. The regions covered in the satellite propulsion system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Reach out to us
Europe: +44 7882 955267,
Asia: +91 88972 63534,
Americas: +1 310-496-7795 or
Email: mailto:info@tbrc.info

The Business Research Company, with over 17,500+ reports across 27 industries and 60+ geographies, backed by 1,500,000 datasets and insights from industry leaders, offers comprehensive market intelligence through its flagship product, the Global Market Model (GMM), delivering updated forecasts for informed decision-making.

This release was published on openPR.