The study projects the market to grow at a CAGR of 4.10% between 2022 and 2032
FREMONT, Calif., Sept. 14, 2022 /PRNewswire/ –BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Satellite Electric Propulsion Market – A Global and Regional Analysis.
According to this study, the market size of the global satellite electric propulsion was valued at $522.3 million in 2021 and is projected to reach $1.02 billion by 2032.
The following factors are responsible for the increase in demand for satellite electric propulsion:
- Increasing demand for large constellations for smaller telecom satellites in low Earth orbit (LEO)
- Rising research and development activities for building low-cost and efficient propulsion systems for satellites
The detailed study is a compilation of 57 market data tables and 22 figures spread through 148 pages.
Check out the detailed table of content her →
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Analyst’s Take on the Market Projection
According to Arunkumar Sampathkumar, Principal Analyst, BIS Research, “While GEO satellite operators are choosing all-electric platforms for their new missions and replacement phases of existing missions, weight and volume constraints are driving small-satellite operators to choose electric propulsion over chemical propulsion. This does not indicate the end of the road for chemical propulsion, but the access to a wide range of lighter electric propulsion capabilities is driving the migration while altering the ratio of electric vs. chemical propulsion on satellites. With the improving scalability of electric propulsion, they are now being deployed for applications that traditionally relied on relatively high-thrust chemical propulsion systems. Besides launch cost savings, the fact that electric propulsion systems enable extended mission lives is driving the operators to consider electric propulsion for their satellites. This segment of the satellite manufacturing market is expected to see steady progressive growth as they continue to gain prominence in the small-satellite segment.”
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Existing Competitive Landscape
The companies that are profiled have been selected based on primary research inputs gathered from a network of industry experts and analyzing company coverage, product portfolio, and market penetration.
Some of the prominent established names in this market are:
- Accion Systems
- Airbus
- Aliena Pte Ltd.
- ArianeGroup
- Astra
- Busek, Co. Inc.
- CU Aerospace
- ENPULSION GmbH
- Moog Inc.
- Neutron Star Systems
- Northrop Grumman
- Orbion Space Technology
- Phase Four, Inc.
- Safran
- Sitael S.p.A
- Thales Alenia Space
Recent Developments in the Global Satellite Electric Propulsion Market
- In July 2022, Thales Alenia Space received a contract of $2.4 million from European Space Agency (ESA) to develop Skimsat, a small satellite bus for very low Earth orbit (VLEO). The contract also includes developing electrical propulsion to air drag in VLEO.
- In June 2022, Safran signed a contract with Thales Alenia Space to supply its PPS 5000 plasma thruster for Thales’s Galileo satellites.
- In August 2021, Neutron Star Systems (NSS) and Bradford Space signed a cooperative agreement to enhance the orbital transport and maneuver capability. In this agreement, Bradford would combine NSS electric propulsion technology with its green monopropellant technology for its space logistics services.
- In April 2021, ThrustMe was selected by Norwegian Space Agency to provide NPT30-I2 electric propulsion for the NorSat-TD mission. The company would provide collision avoidance maneuver capabilities to the NorSat-TD satellite with its iodine propulsion system.
Large Satellite to Lead the Satellite Electric Propulsion Market in Mass Class Category
The electric propulsion system has garnered significant interest from several satellite industry players in 2020-2021. This has been rapidly growing owing to the increasing requirement of launching satellite constellations for communication and Earth observation.
The satellite electric propulsion market is divided on the basis of mass class, mission type, mission application, component, and region.
According to the latest study by BIS Research, the satellite electric propulsion market, in the mass class category, is expected to be dominated by large satellites that are above 2,200 kg.
Why Should You Buy the Report?
This exclusive report on the global satellite electric propulsion market will help in the following ways:
- A dedicated section focusing on the futuristic trends adopted by the key players operating in the global satellite electric propulsion market
- A dedicated section on growth opportunities and recommendations
- A qualitative and quantitative analysis of satellite electric propulsion based on mission application at the regional and country-level granularity by application segments
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https://bisresearch.com/requestsample?id=1358&type=download
BIS Research Related Market Studies:
LEO-focused Satellite Propulsion Technology Market
Global Space Propulsion System Market
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
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