|
|
(Transportation-News.com, December 08, 2023 ) The Global Space Propulsion Market is poised for substantial growth, with an estimated value of USD 10.6 billion in 2023, projected to reach USD 18.1 billion by 2028 at a remarkable CAGR of 11.3%. The driving forces behind this growth include the escalating demand for advanced electric propulsion systems, substantial investments from venture capital firms in space exploration missions, and the increasing utilization of small satellites in diverse commercial and military applications.
Download PDF Brochure @
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=118742255
Market Segmentation:
Satellite Platform:
Medium Satellite Segment Growth: The market for space propulsion is segmented based on satellite platforms, including CubeSats, small satellites, medium satellites, and large satellites. The medium satellite segment is expected to experience significant growth, driven by applications such as climate and environment monitoring, Earth observation and meteorology, scientific research and exploration, and surveillance and security.
Non-Chemical Propulsion Type:
Dominance of Electric Propulsion: Within the non-chemical propulsion type, the electric propulsion segment takes center stage. Electric or ion propulsion, with its lower propellant usage, higher exhaust speed, and ability to provide a small thrust over an extended duration, stands out. It is particularly advantageous for certain deep-space missions compared to traditional chemical satellites and launch vehicles.
Regional Analysis:
Asia Pacific Leading: The Asia Pacific region is anticipated to dominate the space propulsion market during the forecast period. Initiatives such as the Asia Pacific Regional Space Agency Forum (APRSAF) contribute to the region's leadership. APRSAF facilitates human resource development, capacity building, and the advancement of science and technology capabilities. This fosters growth strategies, technological advancements, research and development activities, innovation in small and cube satellites, and the evolution of reusable launch vehicles.
Key Market Players:
The major players in the space propulsion market include Safran S.A. (France), SpaceX (US), L3Harris Technologies Inc. (US), IHI Corporation (Japan), and Northrop Grumman Corporation (US). These industry leaders boast well-equipped manufacturing facilities and robust distribution networks spanning North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Ask for Sample Report @
https://www.marketsandmarkets.com/requestsampleNew.asp?id=118742255
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
sales@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
|
