Dublin, Oct. 16, 2020 (GLOBE NEWSWIRE) -- The "Global Space Propulsion Market by Type (Chemical Propulsion, Non-chemical Propulsion), System Component (Thrusters, Propellant Feed System, Nozzle), Platform (Satellite, Launch Vehicle), Orbit, End User, Orbit, Support Service, and Region - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global space propulsion market is projected to grow from USD 6.7 billion in 2020 to USD 14.2 billion by 2025, at a CAGR of 16.2% from 2020 to 2025.

The market is driven by various factors, such as an increase in the number of space exploration missions, demand for LEO-based services, and increasing demand for advanced electric propulsion systems.

Some of the key players in the space propulsion market include Safran S.A. (France), Aerojet Rocketdyne Holdings, Inc. (US), SpaceX (US), IHI Corporation (Japan), and Northrop Grumman Corporation (US). These players have their presence across various countries in North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

COVID-19's Impact on the Space Industry

Launches: Many launch service providers are focused on upcoming launches that were delayed by some time. Rocket Lab (US) has suspended launches for the time being. Guiana Space Center, a French and European spaceport, has suspended flights. Arianespace (France) still launches from Baikonur, Russia. Soyuz MS-16 was launched in April 2020 with a new crew for the International Space Station (ISS), and in August 18, 2020, SpaceX launched its eleventh Starlink mission, which included 58 Starlink satellites and three of Planet's SkySats.

The space propulsion market faced a slight decline from 2018 to 2019 due to a decrease in the number of space launches. COVID-19 has also affected the import and export trading activities in the space industry. However, the expected rise in space launches from 2021 and beyond will drive the space propulsion market.

Satellites: The fastest-growing segment of the space propulsion market, by platform

By platform, the satellite segment is estimated to be the largest and fastest-growing segment in the space propulsion market. The growth of this segment can be attributed to rising small satellite launches for commercial and government applications. Large satellites, medium satellites, CubeSats, and small satellites, including nanosatellites, microsatellites, and minisatellites, play an important role in Earth observation, communication, and meteorology applications. These satellites are capable of monitoring cyclones, storms, El Nino, floods, fires, volcanic activities, earthquakes, landslides, oil slicks, environmental pollution, and industrial and power plant disasters

Government & defense segment is estimated to account for the largest market share in the year 2020

The government & defense segment is estimated to have the largest revenue market share in 2020. The growth of this segment can be attributed to increasing space exploration missions and rising space budgets. Defense organizations support the use of various types of satellites, such as remote sensing satellites, communication satellites, and surveillance satellites, for military operations and cyber operations. Support operations usually involve the launch of satellites with high-value payloads in space through Expendable Launch Vehicles (ELVs). They also ensure monitoring by facilitating the friendly use of space for various operations, such as surveillance, protection, and space intelligence analysis. For instance, the US Air Force regularly launches GPS and missile-defense tracking satellites and operates two classified X-37B robotic space planes.

Design, engineering, & operation: The fastest-growing segment of the space propulsion market, by support service

By support service, the design, engineering, & operation segment is estimated to be the fastest-growing segment of the space propulsion market. The growth of this segment can be attributed to the need for advanced design and engineering to reduce the costs and complexities of propulsion systems. The service team responds directly to customers requiring system-level technology and concept evaluation, analysis, and maturation; detailed system development and propulsion component integration; and test verification planning, evaluation, and certification. The design, engineering, & operation service also provides operational support for space transportation propulsion systems. The service provided ranges from small thrusters to large rocket engines, covering both earth storable and cryogenic propellants.

North America: The fastest-growing region in the space propulsion market

Based on the region, the space propulsion market in North America is projected to register the highest CAGR during the forecast period. The growing demand for commercial communication and imaging satellites, increasing deployment of small satellites, rising space exploration missions for interplanetary observations, and demand for resupply missions for International Space Station (ISS) are key factors expected to drive the market in North America. Globally, technological breakthroughs and resourceful insights obtained from past space missions have inspired new players to invest in this niche market.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview5.1 Introduction5.2 Market Dynamics5.2.1 Drivers5.2.2 Restraints5.2.3 Opportunities5.2.4 Challenges5.3 Average Selling Price Trend5.4 Value Chain Analysis5.5 Ecosystem/Market Map5.6 COVID19 Impact: Ranges and Scenarios

6 Industry Trends6.1 Introduction6.2 Technology Analysis6.3 Key Market for Export/Import6.4 Patent Analysis6.5 Case Study Analysis

7 Space Propulsion Market, by Propulsion Type7.1 Introduction7.2 Chemical Propulsion7.2.1 Solid7.2.2 Liquid7.2.3 Hybrid7.2.4 Green7.3 Non-Chemical Propulsion7.3.1 Electric Propulsion7.3.1.1 Xenon7.3.1.2 Argon7.3.1.3 Krypton7.3.1.4 Hydrogen7.3.1.5 Others7.3.2 Solar Propulsion7.3.2.1 Solar Sail Propulsion7.3.2.2 Solar Electric Propulsion (SEP)7.3.2.3 Solar Thermal Propulsion7.3.3 Tether Propulsion7.3.4 Nuclear Propulsion7.3.5 Laser Propulsion

8 Space Propulsion Market, by System Component8.1 Introduction8.2 Thrusters8.2.1 Chemical Propulsionthruster8.2.1.1 Cold and Warm Gas Thrusters8.2.1.2 Monopropellant Thrusters8.2.1.3 Bipropellant Thrusters8.2.2 Electric Propulsion Thruster8.2.2.1 Gridded Ion Engine (GIE) or Ion Thruster8.2.2.2 Hall Effect Thruster (HET)8.2.2.3 High Efficiency Multi Stage Plasma Thrusters (HEMP-TS)8.2.2.4 Pulsed Plasma Thruster (PPT)8.2.2.5 Quad Confinement Thruster (QCT)8.2.2.6 Magneto Plasma Dynamic (MPD) Thruster8.2.2.7 Others8.3 Propellant Feed System8.3.1 Propellant Tanks8.3.1.1 Monopropellant Tanks8.3.1.2 Bipropellant Tanks8.3.2 Regulators8.3.1.1 High Pressure Regulator8.3.1.2 Low Pressure Regulator8.3.3 Valves8.3.4 Turbo Pump8.3.5 Combustion Chamber8.4 Rocket Motors8.5 Nozzle8.6 Thermal Control System8.7 Power Processing Unit (PPU)8.8 Others

9 Space Propulsion Market, by Platform9.1 Introduction9.2 Satellite9.2.1 Cubesat9.2.2 Smallsatellite (1-500Kg)9.2.2.1 Nanosatellite9.2.2.2 Microsatellite9.2.2.3 Minisatellite9.2.3 Medium Satellite (501-2500Kg)9.2.4 Large Satellite (>2500Kg)9.3 Capsule/Cargo9.3.1. Crewed Spacecraft or Human Space Flight9.3.2 Uncrewed or Unmanned Spacecraft9.4 Interplanetary Spacecraft and Probes9.5 Rovers/Spacecraft Landers9.6 Launch Vehicles9.6.1 Small Lift Launch Vehicles (<350,000 Kg)9.6.2 Medium to Heavy Vehicles (>350,000 Kg)9.6.3 Reusable Launch Vehicle

10 Space Propulsion Market, by Orbit10.1 Introduction10.2 Low Earth Orbit (LEO)10.3 Medium Earth Orbit (MEO)10.4 Geosynchronous Orbit (GEO)10.5 Beyond Geosynchronous Orbit

11 Space Propulsion Market, by End-user11.1 Introduction11.2 Government & Military11.2.1 National Space Agency11.2.2 Department of Defense (DOD)11.2.3 Others11.3 Commercial11.3.1 Space Launch Service Providers11.3.2 Satellite Operators and Owners

12 Space Propulsion Market, by Support Services12.1 Introduction12.2 Design, Engineering and Operation12.3 Hot Firing and Environmental Test Execution12.4 Fueling and Launch Support

13 Space Propulsion Market, Regional Analysis13.1 Introduction13.2 North America13.2.1 North America: COVID-19 Impact13.2.2 Tariff and Regulatory Landscape13.2.3 US13.2.4 Canada13.3 Europe13.3.1 Europe: COVID-19 Impact13.3.2 Tariff and Regulatory Landscape13.3.3 UK13.3.4 Russia13.3.5 Germany13.3.6 France13.3.7 Italy13.4 Asia-Pacific13.4.1 Asia-Pacific: COVID-19 Impact13.4.2 Tariff and Regulatory Landscape13.4.3 China13.4.4 Japan13.4.5 India13.4.6 South Korea13.4.7 Australia13.5 Middle East & Africa13.5.1 Middle East & Africa: COVID-19 Impact13.5.2 Tariff and Regulatory Landscape13.5.3 Saudi Arabia13.5.4 Israel13.5.5 Turkey13.5.6 South Africa13.6 South America13.6.1 Brazil13.6.2 Mexico

14 Competitive Landscape14.1 Introduction14.2 Market Evaluation Framework14.3 Market Ranking14.4 Market Share14.4.1 By Propellant Feed System14.4.2 By Electric Propulsion Thruster14.4.3 By Propulsion System14.5 Revenue Analysis of Top Five Market Player14.6 Key Market Developments14.6.1 Contracts14.6.2 New Product Launches14.6.3 Agreements, Partnerships, and Joint Ventures

15 Company Evaluation Matrix and Company Profiles15.1 Overveiw15.2 Company Evaluation Matrix Definitions and Methodology15.2.1 Star15.2.2 Emerging Leaders15.2.3 Pervasive15.2.4 Emerging Companies15.3 Company Evaluation Matrix, 201915.3.1 Strength of Product Portfolio15.3.2 Business Strategy Excellence15.4 Start-Up Matrix, 201915.5 Company Profile15.5.1 OHB SE15.5.2 Accion System15.5.3 Boeing15.5.4 Northrop Grumman Corporation15.5.5 Maxar Technologies15.5.6 Thales Alenia Space15.5.7 Airbus Defense and Space15.5.8 Vacco Industries15.5.9 Moog Inc.15.5.10 Cobham Mission Systems Wimborne Limited15.5.11 Ariane Group GmbH15.5.12 AST Advanced Space Technologies GmbH15.5.13 Stanford MU Corporation15.5.14 Bradford Space15.5.15 RAM Company15.5.16 Blue Origin15.5.17 SpaceX15.5.18 Sierra Nevada Corporation15.5.19 IHI Corporation15.5.20 Safran15.5.21 Rocket Labs15.5.22 Aerojet Rocketdyne Holdings Inc.15.5.23 Yuzhnoye SDO15.5.24 Mitsubishi Heavy Industries, Ltd.15.5.25 Virgin Galatic15.5.26 L3Harris Technologies15.5.27 Fakel15.5.28 Enpulsion GmbH15.5.29 Busek Co. Inc.

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Space Propulsion Market by Type, System Component, Platform, Orbit, End-user, Orbit, Support Service, and Region - Global Forecast to 2025 -...