The global satellite propulsion system market is expected to grow at more than 5% CAGR during the period 2017 to 2023.
Market Highlights
The chemical propellants are associated with most of the space programs pose environmental concerns, including severe atmospheric, ground-based, biological, and space-based impacts. Therefore, many initiatives have been taken by the global space agencies and satellite operators to reduce the dependence on chemical-powered propulsion systems. For example, in the recent years, NASA has been working with the private industry partners to launch a spacecraft, which would use high-performance and non-toxic green fuel.
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Market Research Analysis
The global satellite propulsion system market has been analyzed, based on the two segments, namely propulsion type and regions.
On the basis of propulsion type, the global satellite propulsion system market is segmented as chemical propulsion, hybrid propulsion and all-electric propulsion. Chemical propulsion accounted for the largest share in 2016. Chemical propulsion systems are the traditionally used propulsion systems. They carry a substantial amount of fuel for the satellite missions, which is not possible in the case of nano and microsatellite designs.
Scope of the Report
This study provides an overview of the global satellite propulsion system market, tracking one market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for Asia-Pacific, North America, Europe and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global satellite propulsion system market by its propulsion type and region.
Key Players
The key players of the global satellite propulsion system market are Aerojet Rocketdyne (U.S.), Airbus Defense and Space (France), Bellatrix Aerospace (India), Boeing (U.S.), OHB System AG (Germany), Safran S.A. (France), Ball Aerospace & Technologies Corp. (U.S.), Mitsubishi Electric Corporation (Japan), Orbital ATK Inc. (U.S.) and Thales Group (France).