Satellite Propulsion System Market Size By System Type (Bipropellant Propulsion
System, Monopropellant Propulsion System), By Application (Applications
Satellite, Science Satellite), By Propulsion Type (Cold Gas Propulsion, Ambipolar
Thrusters), By Geographic Scope And Forecast
Satellite Propulsion System Market Size And Forecast
Satellite Propulsion System Market size was valued at USD 1,817.0 Million in 2019 and
is projected to reach USD 3,181.2 Million by 2027, growing at a CAGR of 6.36% from
2020 to 2027.
Space agencies are constantly looking to exploit private sector collaborations to achieve
their objectives more cost-effectively while promoting sustainable space exploration, this
growth of space expeditions and commercial use of satellites are driving the growth of
the market. The Global Satellite Propulsion System Market report provides a holistic
evaluation of the market. The report offers a comprehensive analysis of key segments,
trends, drivers, restraints, competitive landscape, and factors that are playing a
substantial role in the market.
Global Satellite Propulsion System Market Definition
A satellite is a semi-independent, computer-controlled, artificial device that is launched
into the earth’s orbit. Popular types of satellites include commercial, military, and
surveillance, serving various purposes including science, weather, navigation, and
communication. The satellites are also deployed for unique purposes in various orbits.
The satellite data is used in various applications, such as urban development, maritime
security, mineral prospecting, and agriculture.
The satellites are launched via launch vehicles into the earth’s orbits. They use boosters
to supply early thrust and reduce the mass of further stages, thus allowing for larger
payloads to be carried into the orbit. Not only the launch pads but also the satellites in
the orbit need propulsion systems used to accelerate/power into the orbit. Satellite
propulsion systems are designed to provide precise impulse bits