Space Propulsion System Market Demand, Growth, Trend, Worldwide Business Opportunities, Manufacturers and Research Methodology by 2028
The global space propulsion system market size is expected to reach 19.97 billion in 2028 and register a revenue CAGR of 14.6% in 2028, according to latest analysis by Emergen Research. Market revenue growth can be attributed to increasing emphasis on decreasing costs associated with space missions. Space propulsion system, particularly non-chemical propulsion, enables mass reduction of satellites and other spacecraft, resulting in reduced cost of launching a specific mission or launch of more advanced and efficient spacecraft for a particular mass.
The Global Space Propulsion System Market Research Report 2020 offers an extensive evaluation of the industry to present the readers with insightful data to help them gain a competitive edge over other players by capitalizing on the lucrative growth opportunities and understanding the critical elements of the market.
For instance, in 2019, the institution of US Air Force’s separate branch of armed services, the Space Force, announced that global space economy will generate USD 1.0 trillion to USD 1.5 trillion by 2040. Also, increasing investment by China and Russia in space missions in the near future is projected to drive demand for space propulsion systems.
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The report emphasizes the demands and trends for the Space Propulsion System market in the global market, more importantly, in the market that is spread across the major regions of the country. The Space Propulsion System market is further segmented on the basis of product types offered in the market, application spectrum, leading manufacturers/companies, and key geographical regions.
Major Geographies Analyzed in the Report:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report further sheds light on strategic initiatives and business expansion plans undertaken by the key companies operating in the Space Propulsion System industry. The report assesses the strategies such as mergers and acquisitions, government and corporate deals, partnerships and collaborations, joint ventures, brand promotions, and product launches, among others.
Major companies profiled in the market report include Space Exploration Technologies Corporation, Safran SA, Lockheed Martin Corporation, Aerojet Rocketdyne Holdings Inc., Thales Alenia Space, Moog Inc., IHI Corporation, OHB SE, Northrop Grumman Corporation, and Sierra Nevada Corporation.
Some Key Highlights From the Report
- NASA made an announcement about signing contracts with MagniX USA Inc. of Redmond and GE Aviation (GE) of Cincinnati for supporting Electric Powertrain Flight Demonstration (EPFD). It will mature Electrified Aircraft Propulsion (EAP) technologies at a fast pace through ground and flight demonstrations. NASA is aiming to introduce EAP technologies to U.S. aviation fleets by 2035.
- By spacecraft type, rovers segment is expected to register significantly steady revenue CAGR over the forecast period. Rovers can examine more terrain, progress knowledge about performance of remote robotic vehicle control, and are capable of automatically placing themselves in areas where there is sunlight. For missions associated with finding past water activity on Mars through examination of minerals and rocks, rovers are particularly equipped with instruments/tools to examine a diverse soil and rock collection that may have clues about the planet’s past water activity.
- Nuclear propulsion technology delivers two-fold propellant efficiency and high thrust, compared to chemical propellants. This system functions by transferring heat from reactor to a liquid propellant and coverts it into gas. The gas then expands through a nozzle to deliver thrust for propelling spacecraft. Unlike chemical propellants, a nuclear propulsion system can deploy propellants very efficiently, but thrust is low.
To conclude everything stated above, the report offers a panoramic view of the Space Propulsion System market in both the global and regional markets, supported by key statistical data and industry-verified facts. It offers a thorough examination of the size, share, and market volume of the Space Propulsion System industry to forecast the same evaluations until 2028.
Significant Features of the Space Propulsion System Market Report:
- Extensive competitive landscape analysis to offer the readers key insights into driving and restraining factors along with strategies adopted by the key players
- Assessment of the existing and emerging trends of the business sphere
- Detailed analysis of the emerging growth opportunities and threats and limitations the players might face in the coming years
- Significant breakdown of the market to assess the factors that might influence the global market growth
The Space Propulsion System report further analyses the companies in detail to offer a comprehensive overview of the market share and size they hold in the business sphere. The Space Propulsion System market size estimation and forecasts detailed in this report are based on a thorough research methodology and are tailored according to the different conditions that create the demand for the global market.
Emergen Research has segmented global space propulsion system market on the basis of component, spacecraft type, propulsion type, orbital path, end-use, and region:
- Component Outlook (Revenue, USD Billion; 2018–2028)
- Rocket Motors
- Propellant Feed Systems
- Propulsion Thermal Control
- Power Processing Units
- Spacecraft Type Outlook (Revenue, USD Billion; 2018–2028)
- Interplanetary Spacecraft & Probes
- Launch Vehicles
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