Satellite Propulsion System Market Size Worth USD 31.04 Billion by 2034 | CAGR: 10.7%

The global satellite propulsion system market size is expected to reach USD 31.04 billion by 2034, according to a new study by Polaris Market Research. The report “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” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Satellite propulsion systems are technologies that offer propulsion and guidance for satellites and spacecraft in space. They are used to maintain orbits, maneuver, and adjust the position of satellites. Electric propulsion, chemical propulsion, and hybrid propulsion are among the main types of satellite propulsion systems.

The rising adoption of CubeSats for commercial applications, driven by their low cost and lightweight design, fuels the satellite propulsion system market growth. The growing use of satellites in the defense sector is also supporting the development of the market. The increasing deployment of small satellites for applications such as earth observation, remote sensing, and technology deployment further fuels the adoption of satellite propulsion systems.

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The increasing shift toward long range missiles and rising military expenditures worldwide are anticipated to drive the satellite propulsion market expansion in the coming years. Growth in space expeditions and continuous technological advancements in propulsion systems are projected to provide lucrative opportunities for market participants worldwide.

Key Highlights of Satellite Propulsion System Market Report

• Based on platform, the medium-sized satellites segment led the satellite propulsion system market share in 2024, owing to their advantages such as lower costs, shorter production cycles, and easier maneuverability as compared to conventional satellites.
• Based on component, the propellant feed systems segment is anticipated to witness 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.
• North America led the satellite propulsion system market with a revenue share of 54% in 2024. The regional market growth is primarily fueled by the rising applications of small satellites, growing advancements in propulsion systems, and substantial government funding for space research and exploration.
• The Asia Pacific satellite propulsion system market is anticipated to witness a significant CAGR of 14.9% from 2025 to 2034. The demand for satellite propulsion systems in the region is propelled by the increased need for earth observation and communication satellites, rise of private space companies, and the demand for better internet connectivity.
• 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 are a few of the key players in the market.

Polaris Market Research has segmented the satellite propulsion system market research report on the basis of propulsion, platform, component, end users, and region:

By Propulsion Outlook (Revenue – USD Billion, 2020–2034)

• Chemical
• Non Chemical

By Platform Outlook (Revenue – USD Billion, 2020–2034)

• CubeSats
• Nano Satellites
• Medium-Sized Satellites
• Large Satellites

By Component Outlook (Revenue – USD Billion, 2020–2034)

• Propellant Feed Systems
• Thrusters
• Rocket Motors
• Nozzles
• Others

By End Users Outlook (Revenue – USD Billion, 2020–2034)

• Government
• Commercial

By Regional Outlook (Revenue – USD Billion, 2020–2034)

• 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