Satellite Propulsion Market to Reach USD 7.82 Billion by 2032, Says Stratview Research

The global satellite propulsion market-encompassing propulsion systems that enable satellites to maintain orbit, change trajectories, control orientation, prevent collisions, or deorbit at mission end-is on track for significant expansion over the coming decade. Stratview Research projects that the market will grow from USD 3.08 billion in 2024 to USD 7.82 billion by 2032, achieving a CAGR of 12.3 % during the forecast period (2025-2032). The single most important growth driver is the expansion in satellite launches for communication and Earth observation services, as the proliferation of satellites-which require reliable and efficient propulsion for accurate orbital placement and station-keeping-boosts demand across commercial, government, and defense sectors.

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Market Statistics

• Market size (2024): USD 3.08 billion
• Forecast value (2032): USD 7.82 billion
• CAGR (2025-2032): 12.3 %
• Forecast period: 2025-2032
• Base year: 2024
• Total number of segments: 5
• Tables & figures: 100+
• Country-Level Market Assessment: 20

Market Segmentation

By Propulsion Technology Type
• Chemical
• Electric

By Platform Type
• Small Satellites
• Medium Satellites
• Large Satellites

By System Type
• Thrusters
• Propellant Feed Systems
• Power Processing Units

By End-User Type
• Commercial
• Government & Civil
• Defense

By Region
• North America
• Europe
• Asia-Pacific
• Rest of the World

Segment Analysis

In the propulsion technology type category, the electric propulsion segment is expected to be the fastest-growing segment through 2032, propelled by its efficiency, extended mission durations, and lower propellant requirements compared to chemical systems. As satellite platforms-particularly small and medium satellites-prioritize weight and performance, manufacturers and developers are increasingly investing in electric propulsion technologies that support longer operational life and reduced mission costs.

For end-user types, the commercial segment is anticipated to be the fastest growing due to the growing demand for satellite-based internet, connectivity, and remote sensing services. As commercial space activities expand and private enterprises deploy larger satellite fleets, there is a strategic emphasis on propulsion systems that support scalable and cost-effective operations.

Regional Insights

North America is expected to be the dominant and fastest-growing region in the satellite propulsion market over the forecast period. The region's leadership is supported by substantial government and private investments in space research and exploration, rapid advancements in propulsion technologies, and a thriving commercial space ecosystem that prioritizes innovation and strategic partnerships.

Market Drivers

• Increasing number of satellite launches for communication and Earth observation services
• Rising adoption of efficient electric propulsion systems for extended mission life and reduced propellant needs
• Growth in commercial space activities driving demand for satellite propulsion innovations
• Government initiatives and public-private collaborations in space exploration and defense
• Advancements in propulsion technology and satellite mobility solutions

Top Companies in the Market

• Northrop Grumman
• Orbion Space Technology
• L3Harris Technologies, Inc.
• Safran Group
• Lockheed Martin Corporation
• VACCO Industries Inc.
• Thales Group
• Airbus SE
• Boeing
• Moog Inc.

FAQs

1. What will the satellite propulsion market be worth by 2032?
The satellite propulsion market is projected to reach USD 7.82 billion by 2032, growing at a CAGR of 12.3 % from 2025 to 2032.

2. Which propulsion technology segment is expected to grow the fastest?
The electric propulsion segment is anticipated to grow the fastest due to its efficiency, lower propellant requirements, and suitability for long-duration missions.

3. Why are small satellites significant in the satellite propulsion market?
Small satellites drive demand for propulsion systems that offer compact size and efficient performance for LEO missions, encouraging tailored propulsion solutions.

4. Which end-user type shows the highest growth potential?
The commercial segment is expected to grow fastest, supported by expanding satellite internet and communication service deployments.

5. What makes North America a key region in this market?
North America leads due to strong investments in space research, advanced propulsion technology development, and a robust commercial space ecosystem.

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

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This release was published on openPR.