MarkNtel Advisors recently published a detailed industry analysis of the Satellite Propulsion Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Satellite Propulsion Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2028
The Satellite Propulsion Market is projected to grow at a CAGR of around 6.7% during the forecast period, i.e., 2023-28.
What are the major Driver the Satellite Propulsion industry?
Growing Launches of Navigation & Telecommunication Satellites to Promote the Satellite Propulsion Market – Navigation & Communication both play a crucial role in the majority of the services being availed by the customers. This has led many developing countries, such as China, India, South Korea, Japan, etc., to implement their domestic navigation satellite systems & expand telecommunication services through satellite communication. Navigation and telecommunication satellites require onboard propulsion systems for effective operational life, which necessitates course correction in orbit as well as pacing the satellite in the graveyard orbit at the end of the lifecycle.
With the growing focus on reducing the dependence on other countries for navigation & communication satellites, the focus of developing countries towards home-grown satellite systems would enhance in the coming years, leading to the massive demand for satellite propulsion systems in the coming years.
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What segments define the Satellite Propulsion market from 2023 to 2028? How do these segments contribute to market dynamics and growth?
- By System Type
- Bipropellant Propulsion System
- Monopropellant Propulsion System
- Ion-Thruster Propulsion Systems
According to report, Bipropellant Propulsion System, in particular, has captured a significant market share in the Global Satellite Propulsion System market.
- By Application
- Application Satellite
- Communication & Broadcasting
- Weather
- Navigation
- Others
- Science Satellite
- Technology Experiment Satellite
- Application Satellite
According to report, Of them all, the Application Satellite, which includes satellites for navigation, communication, or mapping activities, dominates the application of satellite propulsion systems.
- By End User
- Government
- Private Entities
Explore the Complete Satellite Propulsion Market Analysis Report – https://www.marknteladvisors.com/research-library/satellite-propulsion-market.html
Geographical Analysis: Satellite Propulsion Market
- Americas
- Europe
- Asia Pacific
- Rest of the World
Satellite Propulsion Market Share & Competitive Landscape:
The Satellite Propulsion Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry’s leading companies, highlighting their strengths, financial performance, and market influence.
Leading Companies in the Satellite Propulsion Market are:
- Moog Inc.
- Aliena Pte Ltd.
- Ariane Group
- Busek Co. Inc.
- Champaign Urbana Aerospace
- Neutron Star
- Northrop Grumman
- Orbion Space Technology
- Phase Four Inc.
- Sitael SPA
Satellite Propulsion Industry Recent Development:
- 2023: In support of the USSF-67 mission, Northrop Grumman Corporation launched the Long Duration Propulsive ESPA (LDPE)-3A. ESPA Star is an orbit command & control space technology that would support satellites throughout their entire lifecycle.
- 2022: Airbus SAS selected Ariane Group for its first liquid hydrogen technology for its zero-emission obligations to be used in aerospace applications.
Questions Addressed in this Study
1.What factors are driving the Satellite Propulsion Market growth?
2.How is the Satellite Propulsion Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Satellite Propulsion Market?
4.What is the current size of the Satellite Propulsion Market, and how is it projected to change in the future?
6.What is the future outlook for the Satellite Propulsion Market in terms of technological advancements and market expansion?
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