DUBLIN, Oct. 10, 2022 /PRNewswire/ — The “Satellite Electric Propulsion Market – A Global and Regional Analysis: Focus on Mass Class, Mission Type, Mission Application, Component, and Country – Analysis and Forecast, 2022-2032” report has been added to ResearchAndMarkets.com’s offering.
The global satellite electric propulsion market is estimated to reach $1,027.3 million in 2032 from $522.3 million in 2021, at a growth rate of 4.10% during the forecast period. The satellite electric propulsion technology companies have witnessed the demand from the growing commercial industry. The ecosystem of the satellite propulsion system market comprises system manufacturers, original equipment manufacturers (OEMs), and end users.
Market Lifecycle Stage
Between 1957 and 2021, many governments and commercial organizations such as Ariane Space, Europe Space Agency (ESA), National Aeronautics and Space Administration (NASA), and Japan Aerospace Exploration Agency (JAXA), started demonstrations for the new propulsion system for different satellites in low Earth orbit (LEO). Since then, technology has evolved continually and transformed the entire space industry by developing unique products and systems.
Currently, many space agencies and commercial companies across the globe have been focusing on developing low Earth orbit (LEO) satellite constellations. This would drive the market for the propulsion system. Moreover, rising research and development activities to develop cost-efficient propulsion technologies and advancements in 3D printing technology for developing the components of satellite propulsion systems are other factors contributing to the growth of the LEO-focused satellite propulsion technology market. For instance, in June 2022, ThrustMe signed a contract with European Space Agency (ESA) to provide an NPT30-I2-1.5U electric propulsion system for the GOMX-5 mission under ESA general support technology programme (GSTP).
Impact
The increasing number of smaller telecom satellites in low Earth orbit (LEO) with the upcoming mega-constellation has placed a high demand for the production of electric propulsion during the forecast period.
Furthermore, rising research and development activities for building low-cost and efficient propulsion systems for satellites.
Market Segmentation
by Mass Class
Small Satellite (0-500 Kg)
Medium Satellite (501-2,200 Kg)
Large Satellite (Above 2,200 Kg)
The satellite electric propulsion market is expected to generate huge revenues from the above 2,200 Kg mass segment, followed by 0-500 Kg.
by Mission Type
Earth Observation
Communication
Technology Development
Others
Based on mission type, the global satellite electric propulsion market is expected to be dominated by the communication segment during the forecast period. This is due to the increasing development of small satellite constellations for communication by commercial industries.
by Mission Application
Station Keeping
Orbit Raising
Based on mission application, the global satellite electric propulsion market is expected to be dominated by the station keeping segment during the forecast period. The satellite operators prefer more electric propulsion for station keeping irrespective of their nature of taking more time to maneuver.
by Component
Power Control Units
Power Distribution Units
Pointing Mechanism
Pressure Regulators
Valves
Flow Controllers
Mass Flow Sensors
Pressure Transducers
Particle Filters
Tanks
Plumbing/Tuning
Propulsion Chamber/Nozzle
by Region
North America – U.S.
Europe – France, Germany, Russia, U.K., and Rest-of-Europe
Asia-Pacific – China, India, and Rest-of-Asia-Pacific
Rest-of-the-World – Middle East and Africa and South America
Europe accounted for the highest share of 81.82% in the global satellite electric propulsion market by value in 2021, owing to a significant number of companies based in the region.
Key Market Players
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
Business Dynamics
Business Drivers
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
Business Challenges
Relatively Low Thrust Nature of Electric Propulsion Systems Impose Longer Timelines for Orbit-Transfer Risking Satellite Exposure to Radiation and Delaying Mission Timelines
Integration of Electric Propulsion Results in a Growing Power Budget (Imposing the Need for More Onboard Power and the Addition of More Associated Power Electronics)
Business Opportunities
Satellite Manufacturers can Achieve Multiple Variants of the Satellite When Utilizing the All-Electric Option Owing to its Scalability Advantage
Key Topics Covered:
1 Markets
2 Product
3 Region
4 Market – Competitve Benchmarking & Company Profiles
5 Growth Opportunities and Recommendations
6 Research Methodology
For more information about this report visit https://www.researchandmarkets.com/r/q0ia1x
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SOURCE Research and Markets
