The global xenon market size is projected to reach USD 226.7 million by 2027, exhibiting a CAGR of
1.7% during the forecast period. High adoption of xenon gas in ion propulsion systems for satellites will
be the most prominent growth driver for this market, shares Fortune Business Insights™ in its report,
titled “Xenon Market Size, Share & COVID-19 Impact Analysis, By Application (Imaging and
Lighting, Medical, Satellite, Electronics & Semiconductors, and others {including R&D}), and
Regional Forecast, 2020-2027”. Ion thrusters ionize propellant by adding or removing electrons.
Xenon (Xe) is the most commonly utilized propellant because it has a high atomic mass and is easily
ionized, thus delivering the necessary amount of thrust when ions are accelerated. Moreover, the gas is
inert and has high storage density, and therefore, it is ideal for storing in a spacecraft. Its favorable
properties for space missions have encouraged space agencies to develop technologies that can
efficiently leverage the powers of xenon. For example, the National Aeronautics and Space
Administration (NASA) has been developing the NASA Evolutionary Xenon Thruster (NEXT), which is a
high-power ion propulsion system engineered to reduce mission trip time and cost.
The unthinkable health and economic emergency created by the COVID-19 pandemic has stymied
industrial activities around the globe. Many businesses have been forced to shut shop, while some
businesses are undergoing unprecedented financial stress. In these troubled times, with a view to
empower your business to survive these challenging times, Fortune Business Insights™ offers
comprehensive market research reports based on our experience and expertise. These reports contain a
detailed impact analysis of the coronavirus pandemic on the market of your concern.
As per the report, the global market value stood at USD 195.9 million in 2019. The report also features
the following highlights:
A thorough examination of the forces driving, restraining, and creating