Market Overview
Global Satellite Propulsion System Market in detail and provides readers with a comprehensive overview of the market. The market’s historical growth trajectory, present conditions, and future growth prospects are studied in the report. The report provides a comprehensive overview of the market’s historical growth trajectory by detailing the historical stats regarding the market. Future projections are based on the detailed historical stats offered in the report. Based on this platform, future projections for the satellite propulsion system market’s growth trajectory over the forecast period are provided in the report. The report also profiles the leading players in the global satellite propulsion system market and gives readers a comprehensive analysis of the leading players in the global satellite propulsion system market. The report also profiles the major drivers and restraints affecting the global satellite propulsion system market. The factors making the market tick and those holding the market back are studied in detail in the report. The impact of the COVID-19 pandemic on the satellite propulsion system market is also assessed in the report.
Satellite propulsion systems are used to propel satellites and the rockets used to place satellites in place. The growing space exploration industry is likely to be the major driver for the satellite propulsion system market over the forecast period. As the importance of global communication and information projection has grown, satellites have been launched by numerous agencies for various purposes. Obtaining data about weather patterns and providing a means of communication are the two major reasons for launching satellites in today’s world. Numerous private agencies such as SpaceX have made a mark in the global satellite propulsion system market over the last few years due to innovations such as reusable launch vehicles.
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Conventionally, satellites used to be launched with devices that were designed to be used only once. SpaceX has changed the dynamics in this field by developing reusable launch vehicles that can be brought back into the earth’s atmosphere after placing the satellite in orbit and landed vertically upon designated sites. This is likely to be a major driver for the global satellite propulsion system market over the forecast period.
Competitive Analysis
Leading players in the Global Satellite Propulsion System Market include Enpulsion GmbH, CU Aerospace, Exotrail SA, Cobham PLC, Safran SA, Moog Inc., Northrop Grumman Corporation, Mitsubishi Electric Corporation, Ball Corporation, OHB System AG, Busek Co. Inc., Boeing, Bellatrix Aerospace Pvt. Ltd., Airbus SAS, and Aerojet Rocketdyne. Major players in the satellite propulsion system market are likely to focus on product development and innovation in the coming years in order to develop more efficient, reusable satellite launch vehicles.
In June 2020, Tethers Unlimited announced that it will provide the hardware for NASA’s sun-watching mission, PUNCH.
Segmentation
Global Satellite Propulsion System Market is segmented on the basis of propulsion type and region.
By propulsion type, the global satellite propulsion system market is segmented into cold gas propulsion, pulsed plasma thrusters, green liquid propulsion, water electrolysis, hydrazine, micro electrospray propulsion, iodine hall propulsion, solar sail propulsion, and ambipolar thrusters. The ambipolar thruster segment dominates the global satellite propulsion system market as of 2020 and is likely to grow at the highest growth rate over the forecast period from 2019 to 2025. The increasing adoption of CubeSats by countries such as China, India, and the U.S. is likely to be a major driver for the ambipolar thruster segment, as the technology is majorly used in launching CubeSats.
Regional Analysis
North America is likely to dominate the global satellite propulsion system market over the forecast period due to the presence of several leading market players in the region. Europe is also likely to remain a key regional market over the forecast period, while Asia Pacific is expected to exhibit growth at a robust rate due to the growing space exploration in countries such as China and India.
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