Space Propulsion Market Size in 2023 To 2028 | Lockheed Martin Corporation (US), L3Harris Technologies Inc. (US), Northrop Grumman Corporation (US), Blue Origin, LLC (US)

Space propulsion systems play a crucial role in spacecraft, launch vehicles, capsules, and rovers by providing the necessary thrust for various operations such as orbit insertion, station keeping, launching vehicles into space, and attitude control, among others. These propulsion systems can be broadly categorized into two types: chemical propulsion and non-chemical propulsion.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 + 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐓𝐎𝐂 ➡️ https://www.reportsnreports.com/contacts/requestsample.aspx?name=3757192

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 in the space propulsion market are Safran S.A. (France), SpaceX (US), L3Harris Technologies Inc. (US), IHI Corporation (Japan), and Northrop Grumman Corporation (US), among others.

Chemical propulsion technologies encompass a variety of methods, including solid, liquid, hybrid, and cold gas propulsion. On the other hand, non-chemical propulsion technologies utilize different principles, such as electric, solar, nuclear, and laser propulsion.

The key components used in space propulsion systems are thrusters, propellant feed systems, rocket motors, nozzles, reactors, propulsion thermal control systems, and power processing units (PPU).

The space propulsion market caters to both government & military, and commercial end users. It encompasses the application of chemical and non-chemical propulsion technologies in space missions. The end users of space propulsion systems can be further classified into commercial entities and government & defense organizations.

The space propulsion market size is projected to grow from USD 10.6 billion in 2023 to USD 18.1 billion by 2028, at a CAGR of 11.3% during the forecast period.

Low Earth Orbit (LEO) Segment: Rapidly growing segment of the space propulsion market by orbit during 2023-2028

Payloads in the low Earth orbit (LEO) are placed between 500 and 1,500 kilometers above the surface of the Earth. They are visible for 95 to 120 minutes as these satellites circulate in a lower orbit. There is a growing demand for space propulsion systems that enable CubeSats and small satellites to achieve attitude, orbit control, and orbital transfers. The growth of the space sector has led to the greater use of advanced components such as electric thrusters, propellant tanks, and pressure regulators in the propulsion systems of spacecraft. NanoAvionics (US) provides high-performance and environment-friendly propulsion systems for CubeSats and small satellites.

"𝐀𝐬𝐢𝐚 𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐭𝐨 𝐚𝐜𝐜𝐨𝐮𝐧𝐭 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐥𝐚𝐫𝐠𝐞𝐬𝐭 𝐬𝐡𝐚𝐫𝐞 𝐢𝐧 𝐭𝐡𝐞 𝐬𝐩𝐚𝐜𝐞 𝐩𝐫𝐨𝐩𝐮𝐥𝐬𝐢𝐨𝐧 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐧 𝟐𝟎𝟐𝟑."

Investment in the space industry in Asia Pacific has increased continuously in recent years. This factor supports the growth of the space propulsion market in Asia Pacific.

➡️ 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐅𝐨𝐫 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 @ https://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=3757192

The report provides insights on the following pointers:

Analysis of key drivers and several factors, such as increased investments in space research, growing space exploration programs, the need for space propulsion systems, and others that could contribute to an increase in space propulsion market.
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the space propulsion market

Market Development: Comprehensive information about lucrative markets - the report analyses the space propulsion market across varied regions
Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in space propulsion market
Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Safran S.A. (France), SpaceX (US), L3Harris Technologies Inc. (US), IHI Corporation (Japan), Northrop Grumman Corporation (US), among others in the space propulsion market.

This release was published on openPR.