Surge in need for low earth orbit-based services, increase in space exploration missions, and rise in demand for satellite data drive the global space propulsion system market.
PORTLAND, Ore., July 18, 2022 /PRNewswire/ — Allied Market Research recently published a report, titled, “Space Propulsion System Market by Type (Chemical Propulsion, Non Chemical Propulsion), by Class of Orbit (Elliptical, GEO, LEO, MEO), by End User (Civil and Earth Observation, Government and Military, Commercial): Global Opportunity Analysis and Industry Forecast, 2021-2031″ As per the report, the global space propulsion system industry generated $8.9 billion in 2021, and is projected to reach $32.8 billion by 2031, growing at a CAGR of 14.3% from 2022 to 2031.
Drivers, restraints, and opportunities
Rise in demand for low earth orbit-based services, surge in space exploration missions, and increase in demand for satellite data have boosted the growth of the global space propulsion system market. However, issues regarding space debris and increase in emission due to number of space launches hinder the market growth. On the contrary, surge in demand for advanced electric propulsion system and nanomaterial-based space propulsion systems would open new opportunities in the future.
Download Report (271 Pages PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/10808
Covid-19 scenario:
The Covid-19 outbreak forced governments to impose strict regulations regarding lockdown and ban import-export of raw materials. This led to sudden fall in the availability of raw materials for manufacturing space propulsion systems.
The prolonged lockdown disrupted the supply chain and created delays in activities regarding development of space propulsion systems.
Request for Customization at https://www.alliedmarketresearch.com/request-for-customization/10808
The chemical propulsion segment dominated the market
By type, the chemical propulsion segment held the lion’s share in 2021, accounting for nearly 90% of the global space propulsion system market, due to large usage of chemical propellants for launching satellites or other payloads into the space. However, the non-chemical propulsion segment is projected to portray the highest CAGR of 16.1% during the forecast period, due to increased use of non-chemical propulsion technologies in space propulsion systems.
The commercial segment to register the highest CAGR through 2031
By end user, the commercial segment is anticipated is estimated to register the highest CAGR of 14.6% from 2022 to 2031. Moreover, the segment held the lion’s share in 2021, contributing to more than three-fourths of the global space propulsion system market, due to rise in number of space programs to support commercial applications globally. The report analyzes the civil and earth observation and government and military segment as well.
Interested to Procure the Data with Actionable Strategy & Insights? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/10808
North America held the lion’s share
By region, the market across North America held the largest share in 2021, accounting for more than half of the market, as U.S. launches thousands of satellites annually. However, the global space propulsion system market across Asia-Pacific is anticipated to register the highest CAGR of 17.0% during the forecast period, due to increase in space programs across various nations such as China, India, South Korea, and Japan.
Key market players
Accion Systems
ArianeGroup
IHI Corporation
Moog Inc.
Mitsubishi Heavy Industries, Ltd.
Northrop Grumman Corporation
OHB SE
Sierra Nevada Corporation
Thales Group
Vacco Industries
Buy Complete Report Now! https://www.alliedmarketresearch.com/checkout-final/ba4b6dc04cb9f2f4c3a5e85b2775de67
Similar Reports We Have on Space Industry:
Rocket Propulsion Market by Type (Rocket Motor and Rocket Engine), Orbit (Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Earth Orbit (GEO) and Beyond Geosynchronous Orbit (BGEO)), Propulsion (Solid Propulsion, Liquid Propulsion and Hybrid Propulsion), Component (Motor Casing, Nozzle, Igniter Hardware, Turbo Pump, Propellant and Others), Vehicle Type( Manned and Unmanned) and End User (Military & Government and Commercial): Global Opportunity Analysis and Industry Forecast, 2020–2030.
Aircraft Propulsion System Market by Air-Breathing Engine (Turbojet Engines, Ramjets, Scramjets, and IC Engines), Non-Air Breathing Engine (Electric Propulsion, Solid Propulsion, Liquid Propulsion, and Others), Application (Aircrafts, Missiles, UAV’s, and Spacecraft), and End Users (Defense and Aerospace, General Aviation, and Commercial Aviation): Global Opportunity Analysis and Industry Forecast, 2020-2030.
Rocket Hybrid Propulsion Market by Type (Rocket Motor, Rocket Engine), Orbit (Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Earth Orbit (GEO), Beyond Geosynchronous Orbit (BGEO)), Component (Motor Casing, Nozzle, Igniter Hardware, Turbo Pump, Propellant, Others), Vehicle Type (Manned and Unmanned), and End User (Military & Government and Commercial): Global Opportunity Analysis and Industry Forecast, 2020–2030.
Rocket Liquid Propulsion Market by Type (Rocket Motor and Rocket Engine), Orbit (Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Earth Orbit (GEO), Beyond Geosynchronous Orbit (BGEO)), Component (Motor Casing, Nozzle, Igniter Hardware, Turbo Pump, Propellant, and Others), Vehicle Type (Manned and Unmanned), and End User (Military & Government and Commercial): Global Opportunity Analysis and Industry Forecast, 2020–2030.
Rocket Solid Propulsion Market by Type (Rocket Motor and Rocket Engine), Orbit (Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Earth Orbit (GEO), and Beyond Geosynchronous Orbit (BGEO)), Component (Motor Casing, Nozzle, Igniter Hardware, Turbo Pump, Propellant, and Others), Vehicle Type (Manned and Unmanned), and End User (Military & Government and Commercial): Global Opportunity Analysis and Industry Forecast, 2020–2030.
Autonomous Aircraft Propulsion Systems Market by Technology (Fully Autonomous and Increasingly Autonomous), and End Use (Passenger Air Vehicle, Personal Air Vehicle, Combat & Intelligence, Surveillance, and Reconnaissance (ISR), Air Medical Services, Cargo & Delivery Aircraft and Others): Global Opportunity Analysis and Industry Forecast, 2020–2030.
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | Twitter | LinkedIn |
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
SOURCE Allied Market Research