Satellite Propulsion System Market Size, Share, Trends, Industry Analysis Report: By Propulsion (Chemical and Non Chemical), Platform, Component, End Users, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034
- Published Date:Jan-2025
- Pages: 114
- Format: PDF
- Report ID: PM1464
- Base Year: 2024
- Historical Data: 2020-2023
Satellite Propulsion System Market Overview
The global satellite propulsion system market size was valued at USD 11.31 billion in 2024. The market is projected to grow from USD 12.39 billion in 2025 to USD 31.04 billion by 2034. It is projected to exhibit a CAGR of 10.7% from 2025 to 2034.
Satellite propulsion systems are designed for accelerating and powering satellites into orbit. These systems provide precise impulse bits, enabling accurate control of the satellite’s position and altitude while in orbit. Electric propulsion, chemical propulsion, and hybrid propulsion are among the main types of propulsion systems used in satellites.
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The increased demand for low-cost small satellites as companies operating large satellites seek lighter and cost-effective platforms is a key factor driving the satellite propulsion system market growth. The rising development of reusable space launch vehicles presents further growth prospects for the market. Further, the increasing deployment of CubeSats and the expanding applications of satellite propulsion systems in the commercial sector contribute to the satellite propulsion system market development.
Governments worldwide are showing a growing interest in small satellites for earth observation and defense applications, which is expected to contribute to the satellite propulsion system market expansion during the forecast period. Furthermore, continuous technological advancements and the expansion of established players into emerging economies are projected to provide lucrative market opportunities in the coming years.
Satellite Propulsion System Market Dynamics
High Demand for Low Earth Orbit Satellites
Low earth orbit (LEO) satellites are known for their cost-effectiveness and availability of off-the-shelf components. New entrants in the space industry emphasize the use of LEOs for military surveillance, earth observation, and communications applications. Also, they find applications in providing satellite-based internet services, yielding significant benefits owing to their proximity to the earth’s surface. Further, LEOs are beneficial for delivering critical information and monitoring resources and the environment. Thus, the high demand for LEO satellites and satellite constellations drives the satellite propulsion system market development.
Rising Satellite Imaging Applications
The increase in security threats has compelled governments and defense agencies worldwide to invest in satellite imaging systems for acquiring critical information for homeland security and military applications. Satellite imaging is also used in weather forecasting, mapping natural resources, and tracking geospatial information. In addition, it caters to applications such as media and entertainment, disaster response, and engineering and construction. Thus, the rising satellite imaging applications boost the need for propulsion systems and satellite launches, contributing to the rising satellite propulsion system market revenue.
Satellite Propulsion System Market Segment Insights
Satellite Propulsion System Market Outlook Based on Platform
The satellite propulsion system market, based on platform, is segmented into CubeSats, nanosatellites, medium-sized satellites, and large satellites. The medium-sized satellites segment dominated the market in 2024, owing to their advantages such as lower costs and shorter production cycles than conventional satellites. The relatively shorter launch times of these satellites allow for faster implementation of space-related projects. Also, medium-sized satellites can be easily maneuvered, providing mission planners the required flexibility for monitoring a specific area. All of these factors contribute to the need for efficient satellite propulsion systems, driving segmental growth.
Satellite Propulsion System Market Evaluation Based on Component
The satellite propulsion system market, based on component, is segmented into propellant feed systems, thrusters, rocket motors, nozzles, and others. The propellant feed systems segment is anticipated to register the highest CAGR during the forecast period. This is primarily attributed to the rising space complexity and the demand for higher-performance missions requiring precise propellant management. Further, the introduction of electric propulsion systems, which necessitate propellant handling in specific conditions, is fueling innovation and the demand for advanced propellant feed systems. Furthermore, the rising shift toward refueling and in-orbit servicing missions demands efficient propellant transfer technology, impacting the segmental demand favorably.
Satellite Propulsion System Market Regional Analysis
By region, the market report offers satellite propulsion system market insights into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America dominated the market with a revenue share of 54% in 2024. The regional market growth is primarily fueled by the rising applications of small satellites in the real estate, government, defense, and agriculture sectors. In addition, growing advancements in propulsion systems and substantial government funding for space research and exploration contribute to the regional market demand.
The Asia Pacific satellite propulsion system market is projected to register a significant CAGR of 14.9% from 2025 to 2034, owing to the increased need for earth observation and communication satellites in major countries such as China and India. The rise of private space companies and the demand for better internet connectivity further contribute to the market development in the region.
Satellite Propulsion System Market – Key Players and Competitive Insights
The leading players are introducing advanced satellite propulsion systems to cater to the diverse needs of consumers. Also, they are entering new markets in developing regions to expand their customer base, strengthen their market presence, and increase their satellite propulsion system market share. To expand and survive in a more competitive environment, market participants must offer innovative solutions.
In recent years, the market for satellite propulsion systems has witnessed several technological and innovation breakthroughs, with key players seeking to provide advanced solutions that help meet sustainability goals. The satellite propulsion system market research report offers a market assessment of all the key players, including ArianeGroup; Busek Co. Inc.; Airbus SE; OHB SE; Blue Origin LLC; Thales Group; ENPULSION GmbH; Northrop Grumman; Orbion Space Technology; Moog Inc.; Sierra Nevada Corporation; L3Harris Technologies, Inc.; VACCO Industries Inc.; Safran Group; and Lockheed Martin Corporation.
List of Key Players in Satellite Propulsion System Market
- ArianeGroup
- Busek Co. Inc.
- Airbus SE
- OHB SE
- Blue Origin LLC
- Thales Group
- ENPULSION GmbH
- Northrop Grumman
- Orbion Space Technology
- Moog Inc.
- Sierra Nevada Corporation
- L3Harris Technologies, Inc.
- VACCO Industries Inc.
- Safran Group
- Lockheed Martin Corporation
Satellite Propulsion System Industry Developments
August 2024: Safran Group announced the expansion of its US manufacturing capabilities for small satellite propulsion systems. The company stated the expansion aims to meet the growing demand from the commercial and defense sectors.
February 2023: Thales Alenia Space announced a contractual agreement with the Korean Aerospace Research Institute (KARI). According to Thales, the contract involves providing integrated electric propulsion to KARI for integration on their GK3 satellite.
Satellite Propulsion System Market Segmentation
By Propulsion Outlook
- Chemical
- Non Chemical
By Platform Outlook
- CubeSats
- Nano Satellites
- Medium-Sized Satellites
- Large Satellites
By Component Outlook
- Propellant Feed Systems
- Thrusters
- Rocket Motors
- Nozzles
- Others
By End Users Outlook
- Government
- Commercial
By Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
Satellite Propulsion System Market Report Scope
|
Report Attributes |
Details |
|
Market Size Value in 2024 |
USD 11.31 billion |
|
Market Size Value in 2025 |
USD 12.39 billion |
|
Revenue Forecast by 2034 |
USD 31.04 billion |
|
CAGR |
10.7% from 2025 to 2034 |
|
Base Year |
2024 |
|
Historical Data |
2020–2023 |
|
Forecast Period |
2025–2034 |
|
Quantitative Units |
Revenue in USD billion and CAGR from 2025 to 2034 |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
|
|
Regional Scope |
|
|
Competitive Landscape |
|
|
Report Format |
|
|
Customization |
Report customization as per your requirements with respect to countries, regions, and segmentation. |
FAQ's
The market was valued at USD 11.31 billion in 2024 and is projected to grow to USD 31.04 billion by 2034.
The market is projected to register a CAGR of 10.7% from 2025 to 2034.
North America accounted for the largest region-wise market size in 2024.
A few of the key players in the market are ArianeGroup; Busek Co. Inc.; Airbus SE; OHB SE; Blue Origin LLC; Thales Group; ENPULSION GmbH; Northrop Grumman; Orbion Space Technology; Moog Inc.; Sierra Nevada Corporation; L3Harris Technologies, Inc.; VACCO Industries Inc.; Safran Group; and Lockheed Martin Corporation.
The medium-sized satellites segment accounted for the largest satellite propulsion system market share in 2024.
The propellant feed systems segment is anticipated to register the highest CAGR during the forecast period.
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