Satellite Propulsion Systems

Satellite Propulsion Systems

Global Space Propulsion Market to Reach $16.1 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Space Propulsion estimated at US$6.1 Billion in the year 2020, is projected to reach a revised size of US$16.1 Billion by 2027, growing at a CAGR of 14.8% over the analysis period 2020-2027. Chemical, one of the segments analyzed in the report, is projected to record a 12.1% CAGR and reach US$5.4 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Nuclear segment is readjusted to a revised 14.5% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.8 Billion, While China is Forecast to Grow at 14.1% CAGR

The Space Propulsion market in the U.S. is estimated at US$1.8 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.8 Billion by the year 2027 trailing a CAGR of 14.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13% and 13% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 10.9% CAGR.

Solar Segment to Record 17% CAGR

In the global Solar segment, USA, Canada, Japan, China and Europe will drive the 17% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$827.5 Million in the year 2020 will reach a projected size of US$2.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.

Select Competitors (Total 46 Featured) -

• Aerojet Rocketdyne Holdings, Inc.
• Airbus Group SE
• Ball Corporation
• Bellatrix Aerospace (India) Pvt. Ltd.
• Boeing Company, The
• Mitsubishi Electric Corporation
• OHB SE
• Orbital ATK, Inc.
• Safran
• Thales Group

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