The of the global space propulsion systems market is expected to reach 19.97 billion in 2028 and register a revenue CAGR of 14.6% in 2028, according to the latest analysis from Emergen Research. The growth in market revenue can be attributed to the growing emphasis on decreasing costs associated with space missions. The space propulsion system, especially the non-chemical propulsion, allows to reduce the mass of satellites and other spacecraft, which reduces the cost of launching a specific mission or the launch of more advanced and efficient spacecraft for a particular mass. Airbus Defense and Space has used electric space propulsion systems for orbital station keeping purposes for more than a decade and is focused on building large satellites, deploying only electric space propulsion systems for initial spacecraft recovery. ‘orbit. Space propulsion systems provide reliable solutions to keep total system cost low and reduce time to orbit.
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Rising investment in space exploration and growing number of space exploration missions are driving the growth of the space propulsion market. For example, in 2019, the institution of the United States Air Force’s separate armed services branch, the Space Force, announced that the global space economy will generate between $1 trillion and $1.5 trillion by
2040broad space propulsion system market segmentation that includes product type range, application spectrum, end-user industry landscape, important geographical regions and major market competitors. The report contains unbiased opinions of industry experts on the current market scenario, past performance of the market, production and consumption rates, supply and demand ratio and generation forecast. income over the estimated period. The financial positions of key players, along with their gross profit, sales volume, sales revenue, manufacturing cost, and other financial ratios, have been accurately assessed in the report.
Key players involved in the market, such as
Space Exploration Technologies Corporation,
Lockheed Martin Corporation,
Aerojet Rocketdyne Holdings Inc.,
Thales Alenia Space,
Northrop Grumman Corporation and
Sierra Nevada Corporation.
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In October 2021, NASA announced the signing of contracts with MagniX USA Inc. of Redmond and GE Aviation (GE) of Cincinnati for Electric Powertrain Flight Demonstration (EPFD) support. It will mature electrified aircraft propulsion (EAP) technologies at a rapid pace through ground and flight demonstrations. NASA aims to introduce EAP technologies to US aviation fleets by 2035.
By spacecraft type, the rover segment is expected to register a stable revenue CAGR during the forecast period. Rovers can examine more terrain, learn more about the performance of remote control robotic vehicles, and are able to automatically position themselves in areas where there is sunlight. For missions associated with researching past water activity on Mars through the examination of minerals and rocks, the rovers are particularly equipped with instruments/tools to examine a diverse collection of soils and rocks that may have clues to the planet’s past water activity.
Nuclear propulsion technology offers double propulsive efficiency and high thrust compared to chemical propellants. This system works by transferring heat from the reactor to a liquid propellant and turns it into gas. The gas then expands through a nozzle to provide thrust to propel the spacecraft. Unlike chemical propellants, a nuclear propulsion system can deploy propellants very efficiently, but the thrust is low.
Space Propulsion Systems Market Segmentation By Regions:
North America (USA, Canada)
Europe (UK, 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)
Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)
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Key benefits of the report:
Complete analysis of the competitive scenario and its changing dynamics
Analytical data with detailed SWOT analysis and Porter’s five forces analysis
In- 8 Year In-Depth Analysis of the Global Space Propulsion Systems Market
Critical understanding of key market segments
Comprehensive analysis of drivers, constraints, trends and opportunities
Detailed regional analysis and profiling
in-depth company review In-depth assessment of current and emerging market trends
Emergen Research, propulsion type, orbital path, end use and region:
Power processing units
Spacecraft Type Outlook (Revenue, USD Billion; 2018-2028)
Ides spacecraft and interplanetary probes
revenue, billion USD; 2018–2028)
Chemical propulsion Propulsion
Orbital Pathway Outlook (Revenue, USD Billion; 2018–2028)
End-Use Outlook (Revenue, USD Billion; 2018–2028)
Government & Defense
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