Space propulsion systems change the velocity of the spacecraft to give it a forward push. Spacecraft propulsion is any method used to accelerate spacecraft and satellites. Also, the rise in number of space expeditions is significantly boosting the growth of the space propulsion system market. Moreover, the propulsion systems, also called engines are of various types such as electric propulsion engines, air-breathing engines, and non-air breathing engines. Furthermore, the market participants such as propulsion system manufacturers, technological support providers, government and certification bodies, manufactures of aircraft, unmanned aerial vehicles, and drones invest a significant amount in research & development for prominent advancements. 

Market scope and structure analysis:

COVID-19 Scenario Analysis:

• Space propulsion system production is going to be more agile after the end of COVID-19.
• The supply chain disruption is expected to affect the future growth of the companies due to lockdown.
• The revenue is not being generated for the companies due to the ongoing pandemic, which will result in major losses across the year.
• Companies have to deal on a significant margin basis to revive the market.
• A huge monetary loss has been accounted for in the revenue generation of the Space propulsion system companies due to the lockdown.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

The global market for space propulsion systems is anticipated to grow in the coming years due to increase in space exploration missions, fueled by significant investments by the government institutions of various nations, as well as the private sector. In addition, the prolusion systems are driven by technological advancements, thus providing fuel-efficient performance at lowered costs. Moreover, the propulsion systems are applied for various purposes in space expeditions, which in turn is proliferating the application and growth of the global space propulsion systems market.

The global space propulsion system market trends are as follows:

Increase in space exploration missions

The global space propulsion system market is anticipated to experience growth during the forecast period due to an increase in space exploration missions by the major nations across the globe. This also is pushed by potential investments and initiatives by the government and private sectors. Moreover, there is rise in demand for low-cost small satellites, which in turn is generating opportunities for the growth of the space propulsion market. In addition, the development of reusable space launch vehicles is also contributing toward the growth in demand for space prolusion systems. Furthermore, the aircraft industry uses air-breathing engines to achieve high speed and accuracy, along with less fuel consumption. Such factors contribute toward the global growth of the space propulsion system market during the forecast period.

Wide application of space propulsion system to boost the growth of the global market

The propulsion systems are used for orbital satellites, interplanetary spacecraft, and probes. These are used to launch vehicle upper stage attitude, orbital and roll control, ascent roll control and stabilization of light to heavy launch vehicles, control the re-entry vehicles, and for automated resupply missions to the International Space Station. Also, the trend of the shift from traditional propulsion systems such as chemical propulsion systems in the spacecraft to the modern and new generation systems, such as electric propulsion systems foster the growth of the space propulsion systems in the global market.

Key Segments Covered:

Key Benefits of the Report:

• This study presents the analytical depiction of the global Space propulsion system industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global Space propulsion system market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global Space propulsion system market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global Space propulsion system market analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions Answered in the Space propulsion system Market Research Report:

• What are the leading market players active in the Space propulsion system market?
• What the current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What future projections would help in taking further strategic steps?