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Satellite Electric Propulsion (SEP) is a form of propulsion system used in satellites that involves the use of electrically charged particles to produce thrust. Because SEP uses less fuel and producing low-thrust, satellites equipped with SEP engines can spend more time in orbit, which translates to longer operational life of the satellites. This reduces the need for expensive replacements, reduces waste, and maximizes mission performance. According to the latest estimates, the global satellite electric propulsion market is set to achieve an incremental growth of USD 127.8 million, accelerating at a CAGR of almost 2.83% during the forecast period 2023-2029.
The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global satellite electric propulsion market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors' approaches.
This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the mass class, mission type, component, mission application, and region. The global market for satellite electric propulsion can be segmented by mass class: large satellite (above 2,201 kg), medium satellite (501-2,200 kg), small satellite (0-500 kg). The small satellite (0-500 kg) segment held the largest share of the global satellite electric propulsion market in 2022 and is anticipated to hold its share during the forecast period. Satellite electric propulsion market is further segmented by mission type: propulsion chamber/nozzle, power control units, power distribution units, pointing mechanism, pressure regulators, valves, flow controllers, mass flow sensors, pressure transducers, particle filters, tanks, plumbing/tuning. Globally, the propulsion chamber/nozzle segment made up the largest share of the satellite electric propulsion market. Based on component, the satellite electric propulsion market is segmented into: technology development, communication, earth observation, others. The communication segment was the largest contributor to the global satellite electric propulsion market in 2022. On the basis of mission application, the satellite electric propulsion market also can be divided into: orbit raising, station keeping. The station keeping segment is estimated to account for the largest share of the global satellite electric propulsion market. Satellite electric propulsion market by region is categorized into: North America, Europe, Asia-Pacific, Rest of the World (RoW).
Market Segmentation
By mass class: large satellite (above 2,201 kg), medium satellite (501-2,200 kg), small satellite (0-500 kg)
By mission type: propulsion chamber/nozzle, power control units, power distribution units, pointing mechanism, pressure regulators, valves, flow controllers, mass flow sensors, pressure transducers, particle filters, tanks, plumbing/tuning
By component: technology development, communication, earth observation, others
By mission application: orbit raising, station keeping
By region: North America, Europe, Asia-Pacific, Rest of the World (RoW)
The report also provides a detailed analysis of several leading satellite electric propulsion market vendors that include Airbus SE, ArianeGroup, Astra Space Inc., Busek, Co. Inc., ENPULSION GmbH, Orbion Space Technology Inc., among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.
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Scope of the Report
- To analyze and forecast the market size of the global satellite electric propulsion market.
- To classify and forecast the global satellite electric propulsion market based on mass class, mission type, component, mission application, region.
- To identify drivers and challenges for the global satellite electric propulsion market.
- To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global satellite electric propulsion market.
- To identify and analyze the profile of leading players operating in the global satellite electric propulsion market.
Why Choose This Report
- Gain a reliable outlook of the global satellite electric propulsion market forecasts from 2023 to 2029 across scenarios.
- Identify growth segments for investment.
- Stay ahead of competitors through company profiles and market data.
- The market estimate for ease of analysis across scenarios in Excel format.
- Strategy consulting and research support for three months.
- Print authentication provided for the single-user license.