Press release
Satellite Propulsion Market Market Size, Share & Global Insights 2022-2031
The Europe satellite propulsion market was valued at US$ 2,148.19 million in 2023 and is expected to reach US$ 6,827.31 million by 2031; it is estimated to register a CAGR of 15.6% from 2023 to 2031.There is a rising number of satellites launched into orbit for applications such as communication, earth observation, and navigation. According to the United Nations Office for Outer Space Affairs (UNOOSA), 2,474 satellites were launched in 2022, compared to 1,810 in 2021 across the world. UK Space Command's operational concept demonstrator satellites under Project Minerva and part of the ISTARI program is anticipated to be launched by 2026. In 2023, France's Arianespace launched 12 satellites into space. In 2023, the SpIRIT (Space Industry Responsive Intelligent Thermal) nanosatellite was launched, which was operated by the University of Melbourne. The satellite has been built in collaboration with the Italian Space Agency and several Australian space industry companies. Therefore, increasing number of satellites launches drives the growth of the satellite propulsion market.
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Increased funding and investments in satellite launching programs reflect a growing emphasis on space exploration, satellite deployment, and space-based services. The public sector propels the demand for heavy- and super-heavy-lift space launch services, whereas the private sector leads the demand for small- and medium-lift satellites. The small- and medium-lift satellites are a faster-growing sector owing to rising demand for launching low Earth orbit constellations or small satellites for telecommunications. Other reasons driving private investments in space launch technologies include orbital mining, manufacturing, and tourism. In 2024, the UK government announced that over the next four years, UK businesses and researchers would be able to receive up to US$ 200.7 million (£160 million) in funding under the UK Space Agency's Connectivity in Low-Earth Orbit (C-LEO) program, which aims to develop advanced satellite communications technology.
MARKET INTRODUCTION
The Europe satellite propulsion market is a growing sector driven by technological and product innovation and strategic collaborations. With a strong emphasis on satellite launches for Earth observation and other research activities, European countries have emerged as key players in advancing satellite propulsion technologies. Major industry contributors include leading aerospace and space companies such as Airbus and Thales Alenia Space, renowned for their expertise in developing cutting-edge satellite propulsion systems.
List of Companies Profiled in the Satellite Propulsion MarketReport are:
• Moog Inc
• Thales SA
• Safran SA
• Northrop Grumman Corp
• Airbus SE
• Avio SPA
• IHI Corp
• ArianeGroup
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Key Segmentation:
Deployment Mode (Cloud Based and On-Premise),
The Satellite Propulsion Marketis categorized into type, application, and country.
• Based on type, the Satellite Propulsion Market is segmented into pellets, blocks, and others. The blocks segment held the largest market share in 2022.
• In terms of application, the Satellite Propulsion Market is segmented into food and beverage, storage and transportation, healthcare, industrial applications, and others. The storage and transportation held the largest market share in 2022.
• By country, the Satellite Propulsion Market is segmented into the US, Canada, and Mexico. The US dominated the Satellite Propulsion Market share in 2022.
Satellite Propulsion Market, in 2021. The growth of the segment is primarily attributed to the increase in need for maintenance and repair activities in order to make sure its internal and external parts are in good condition and to maintain a record of its condition. Based on application, the power transformers segment held the largest share of the Satellite Propulsion Market. The rise in energy demand, increase in renewable power generation, growing initiatives for smart cities & urbanization are the key factors responsible for the demand of power transformer. Thus, such factors are driving the Satellite Propulsion Market growth.
Table of Contents
Based on material, the Mexico Logistics market is segmented into FRP/composites, metal/alloys, and others. The metal/alloys segment held the largest share of the Satellite Propulsion Market in 2022.
Based on size, the Mexico Logistics market is segmented into 75-120 feet, 121-250 feet, and Above 250 feet. The 121-250 feet segment held the largest share of the Satellite Propulsion Market in 2022.
Based on country, the Satellite Propulsion Market is segmented into France, Germany, the UK, Italy, Russia, and the Rest of Europe. The Rest of Europe dominated the share of the Satellite Propulsion Market in 2022.
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Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.
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