Global Space Propulsion Market (2020 to 2025) - Key Drivers, Restraints, Opportunities and Challenges
DUBLIN, Oct. 22, 2020 /PRNewswire/ -- The "Global Space Propulsion Market by Type (Chemical Propulsion, Non-chemical Propulsion), System Component (Thrusters, Propellant Feed System, Nozzle), Platform (Satellite, Launch Vehicle), Orbit, End User, Orbit, Support Service, and Region - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global space propulsion market is projected to grow from USD 6.7 billion in 2020 to USD 14.2 billion by 2025, at a CAGR of 16.2% from 2020 to 2025.
The market is driven by various factors, such as an increase in the number of space exploration missions, demand for LEO-based services, and increasing demand for advanced electric propulsion systems.
Some of the key players in the space propulsion market include Safran S.A. (France), Aerojet Rocketdyne Holdings, Inc. (US), SpaceX (US), IHI Corporation (Japan), and Northrop Grumman Corporation (US). These players have their presence across various countries in North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
COVID-19's Impact on the Space Industry
Launches: Many launch service providers are focused on upcoming launches that were delayed by some time. Rocket Lab (US) has suspended launches for the time being. Guiana Space Center, a French and European spaceport, has suspended flights. Arianespace (France) still launches from Baikonur, Russia. Soyuz MS-16 was launched in April 2020 with a new crew for the International Space Station (ISS), and in August 18, 2020, SpaceX launched its eleventh Starlink mission, which included 58 Starlink satellites and three of Planet's SkySats.
The space propulsion market faced a slight decline from 2018 to 2019 due to a decrease in the number of space launches. COVID-19 has also affected the import and export trading activities in the space industry. However, the expected rise in space launches from 2021 and beyond will drive the space propulsion market.
Satellites: The fastest-growing segment of the space propulsion market, by platform
By platform, the satellite segment is estimated to be the largest and fastest-growing segment in the space propulsion market. The growth of this segment can be attributed to rising small satellite launches for commercial and government applications. Large satellites, medium satellites, CubeSats, and small satellites, including nanosatellites, microsatellites, and minisatellites, play an important role in Earth observation, communication, and meteorology applications. These satellites are capable of monitoring cyclones, storms, El Nino, floods, fires, volcanic activities, earthquakes, landslides, oil slicks, environmental pollution, and industrial and power plant disasters
Government & defense segment is estimated to account for the largest market share in the year 2020
The government & defense segment is estimated to have the largest revenue market share in 2020. The growth of this segment can be attributed to increasing space exploration missions and rising space budgets. Defense organizations support the use of various types of satellites, such as remote sensing satellites, communication satellites, and surveillance satellites, for military operations and cyber operations. Support operations usually involve the launch of satellites with high-value payloads in space through Expendable Launch Vehicles (ELVs). They also ensure monitoring by facilitating the friendly use of space for various operations, such as surveillance, protection, and space intelligence analysis. For instance, the US Air Force regularly launches GPS and missile-defense tracking satellites and operates two classified X-37B robotic space planes.
Design, engineering, & operation: The fastest-growing segment of the space propulsion market, by support service
By support service, the design, engineering, & operation segment is estimated to be the fastest-growing segment of the space propulsion market. The growth of this segment can be attributed to the need for advanced design and engineering to reduce the costs and compleities of propulsion systems. The service team responds directly to customers requiring system-level technology and concept evaluation, analysis, and maturation; detailed system development and propulsion component integration; and test verification planning, evaluation, and certification. The design, engineering, & operation service also provides operational support for space transportation propulsion systems. The service provided ranges from small thrusters to large rocket engines, covering both earth storable and cryogenic propellants.
North America: The fastest-growing region in the space propulsion market
Based on the region, the space propulsion market in North America is projected to register the highest CAGR during the forecast period. The growing demand for commercial communication and imaging satellites, increasing deployment of small satellites, rising space exploration missions for interplanetary observations, and demand for resupply missions for International Space Station (ISS) are key factors expected to drive the market in North America. Globally, technological breakthroughs and resourceful insights obtained from past space missions have inspired new players to invest in this niche market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.2 Restraints 5.2.3 Opportunities 5.2.4 Challenges 5.3 Average Selling Price Trend 5.4 Value Chain Analysis 5.5 Ecosystem/Market Map 5.6 COVID19 Impact: Ranges and Scenarios
6 Industry Trends 6.1 Introduction 6.2 Technology Analysis 6.3 Key Market for Export/Import 6.4 Patent Analysis 6.5 Case Study Analysis
7 Space Propulsion Market, by Propulsion Type 7.1 Introduction 7.2 Chemical Propulsion 7.2.1 Solid 7.2.2 Liquid 7.2.3 Hybrid 7.2.4 Green 7.3 Non-Chemical Propulsion 7.3.1 Electric Propulsion 7.3.1.1 Xenon 7.3.1.2 Argon 7.3.1.3 Krypton 7.3.1.4 Hydrogen 7.3.1.5 Others 7.3.2 Solar Propulsion 7.3.2.1 Solar Sail Propulsion 7.3.2.2 Solar Electric Propulsion (SEP) 7.3.2.3 Solar Thermal Propulsion 7.3.3 Tether Propulsion 7.3.4 Nuclear Propulsion 7.3.5 Laser Propulsion
8 Space Propulsion Market, by System Component 8.1 Introduction 8.2 Thrusters 8.2.1 Chemical Propulsionthruster 8.2.1.1 Cold and Warm Gas Thrusters 8.2.1.2 Monopropellant Thrusters 8.2.1.3 Bipropellant Thrusters 8.2.2 Electric Propulsion Thruster 8.2.2.1 Gridded Ion Engine (GIE) or Ion Thruster 8.2.2.2 Hall Effect Thruster (HET) 8.2.2.3 High Efficiency Multi Stage Plasma Thrusters (HEMP-TS) 8.2.2.4 Pulsed Plasma Thruster (PPT) 8.2.2.5 Quad Confinement Thruster (QCT) 8.2.2.6 Magneto Plasma Dynamic (MPD) Thruster 8.2.2.7 Others 8.3 Propellant Feed System 8.3.1 Propellant Tanks 8.3.1.1 Monopropellant Tanks 8.3.1.2 Bipropellant Tanks 8.3.2 Regulators 8.3.1.1 High Pressure Regulator 8.3.1.2 Low Pressure Regulator 8.3.3 Valves 8.3.4 Turbo Pump 8.3.5 Combustion Chamber 8.4 Rocket Motors 8.5 Nozzle 8.6 Thermal Control System 8.7 Power Processing Unit (PPU) 8.8 Others
9 Space Propulsion Market, by Platform 9.1 Introduction 9.2 Satellite 9.2.1 Cubesat 9.2.2 Smallsatellite (1-500Kg) 9.2.2.1 Nanosatellite 9.2.2.2 Microsatellite 9.2.2.3 Minisatellite 9.2.3 Medium Satellite (501-2500Kg) 9.2.4 Large Satellite (>2500Kg) 9.3 Capsule/Cargo 9.3.1. Crewed Spacecraft or Human Space Flight 9.3.2 Uncrewed or Unmanned Spacecraft 9.4 Interplanetary Spacecraft and Probes 9.5 Rovers/Spacecraft Landers 9.6 Launch Vehicles 9.6.1 Small Lift Launch Vehicles (<_50_000 />9.6.2 Medium to Heavy Vehicles (>350,000 Kg) 9.6.3 Reusable Launch Vehicle
10 Space Propulsion Market, by Orbit 10.1 Introduction 10.2 Low Earth Orbit (LEO) 10.3 Medium Earth Orbit (MEO) 10.4 Geosynchronous Orbit (GEO) 10.5 Beyond Geosynchronous Orbit
11 Space Propulsion Market, by End-user 11.1 Introduction 11.2 Government & Military 11.2.1 National Space Agency 11.2.2 Department of Defense (DOD) 11.2.3 Others 11.3 Commercial 11.3.1 Space Launch Service Providers 11.3.2 Satellite Operators and Owners
12 Space Propulsion Market, by Support Services 12.1 Introduction 12.2 Design, Engineering and Operation 12.3 Hot Firing and Environmental Test Execution 12.4 Fueling and Launch Support
13 Space Propulsion Market, Regional Analysis 13.1 Introduction 13.2 North America 13.2.1 North America: COVID-19 Impact 13.2.2 Tariff and Regulatory Landscape 13.2.3 US 13.2.4 Canada 13.3 Europe 13.3.1 Europe: COVID-19 Impact 13.3.2 Tariff and Regulatory Landscape 13.3.3 UK 13.3.4 Russia 13.3.5 Germany 13.3.6 France 13.3.7 Italy 13.4 Asia-Pacific 13.4.1 Asia-Pacific: COVID-19 Impact 13.4.2 Tariff and Regulatory Landscape 13.4.3 China 13.4.4 Japan 13.4.5 India 13.4.6 South Korea 13.4.7 Australia 13.5 Middle East & Africa 13.5.1 Middle East & Africa: COVID-19 Impact 13.5.2 Tariff and Regulatory Landscape 13.5.3 Saudi Arabia 13.5.4 Israel 13.5.5 Turkey 13.5.6 South Africa 13.6 South America 13.6.1 Brazil 13.6.2 Mexico
14 Competitive Landscape 14.1 Introduction 14.2 Market Evaluation Framework 14.3 Market Ranking 14.4 Market Share 14.4.1 By Propellant Feed System 14.4.2 By Electric Propulsion Thruster 14.4.3 By Propulsion System 14.5 Revenue Analysis of Top Five Market Player 14.6 Key Market Developments 14.6.1 Contracts 14.6.2 New Product Launches 14.6.3 Agreements, Partnerships, and Joint Ventures
15 Company Evaluation Matrix and Company Profiles 15.1 Overveiw 15.2 Company Evaluation Matrix Definitions and Methodology 15.2.1 Star 15.2.2 Emerging Leaders 15.2.3 Pervasive 15.2.4 Emerging Companies 15.3 Company Evaluation Matrix, 2019 15.3.1 Strength of Product Portfolio 15.3.2 Business Strategy Excellence 15.4 Start-Up Matrix, 2019 15.5 Company Profile 15.5.1 OHB SE 15.5.2 Accion System 15.5.3 Boeing 15.5.4 Northrop Grumman Corporation 15.5.5 Maxar Technologies 15.5.6 Thales Alenia Space 15.5.7 Airbus Defense and Space 15.5.8 Vacco Industries 15.5.9 Moog Inc. 15.5.10 Cobham Mission Systems Wimborne Limited 15.5.11 Ariane Group GmbH 15.5.12 AST Advanced Space Technologies GmbH 15.5.13 Stanford MU Corporation 15.5.14 Bradford Space 15.5.15 RAM Company 15.5.16 Blue Origin 15.5.17 SpaceX 15.5.18 Sierra Nevada Corporation 15.5.19 IHI Corporation 15.5.20 Safran 15.5.21 Rocket Labs 15.5.22 Aerojet Rocketdyne Holdings Inc. 15.5.23 Yuzhnoye SDO 15.5.24 Mitsubishi Heavy Industries, Ltd. 15.5.25 Virgin Galatic 15.5.26 L3Harris Technologies 15.5.27 Fakel 15.5.28 Enpulsion GmbH 15.5.29 Busek Co. Inc.
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