The global space propulsion systems market size reached USD 11.0 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 27.1 Billion by 2033, exhibiting a growth rate (CAGR) of 10% during 2025-2033. The rising number of satellites launches across the globe, widespread system application in space exploration activities, and the introduction of the electric propulsion system represent some of the key factors driving the market.
Report Attribute
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024
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USD 11.0 Billion |
Market Forecast in 2033
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USD 27.1 Billion |
Market Growth Rate (2025-2033) | 10% |
Space propulsion systems refer to devices that generate enormous thrust to propel a spacecraft or satellite into space. It includes chemical, electric, nuclear, and solar sail propulsion systems. They are comprised of several components, such as engine, fuel, nozzles, thrust vector controls, propellant tanks, power supply, sensors, and control panels. Space propulsion systems are widely used for satellite launching, orbital adjustments, interplanetary missions, deep space exploration, space debris removal, and cargo and crew transport. They are safe, reliable, and highly efficient systems that offer long service life and can withstand extreme temperatures, pressures, and vibrations encountered during launches and operations. Space propulsion systems also aid in advancing scientific research, improving communication networks, facilitating space tourism, and enabling space colonization activities.
The rising number of satellites launches across the globe is one of the primary factors propelling the market growth. Space propulsion systems are widely used to place satellites into different earth’s orbits for various applications, such as communication, remote sensing, navigation, and weather forecasting. In addition to this, the rapid commercialization of the space industry is facilitating system demand for carrying various commercial activities, such as space tourism and private spaceflight. Furthermore, the widespread system application in space exploration activities to send space telescopes, probes, and scientific missions to the moon, mars, and other celestial bodies are providing an impetus to the market growth. Additionally, the introduction of the electric propulsion system, which utilizes electric power to accelerate and eject propellant, thus providing high efficiency and long operational life, is positively influencing the market growth. Apart from this, the recent development of plasma propulsion systems which offers excellent thrust-to-weight ratio, high specific impulse, and reduced operational costs, is favoring the market growth. Along with this, the utilization of three-dimensional (3D) printing to manufacture part of the space propulsion systems, which, in turn, increases efficiency, offers better accuracy, lowers production costs, and reduces waste generation, is providing a thrust to the market growth. Besides this, the implementation of various government initiatives to promote space programs for scientific research, national security, and exploration activities are supporting market growth. Other factors, including rising demand for small satellites, increasing investment in the development of advanced systems, and the growing demand for space propulsion systems in defense and military applications, are anticipated to drive the market growth.
IMARC Group provides an analysis of the key trends in each segment of the global space propulsion systems market, along with forecasts at the global, regional, and country levels from 2025-2033. Our report has categorized the market based on type, class of orbit, and end user.
Type Insights:
The report has provided a detailed breakup and analysis of the space propulsion systems market based on the type. This includes chemical and non-chemical propulsion. According to the report, chemical propulsion represented the largest segment.
Class of Orbit Insights:
A detailed breakup and analysis of the space propulsion systems market based on the class of orbit has also been provided in the report. This includes elliptical, GEO, LEO, and MEO. According to the report, LEO accounted for the largest market share.
End User Insights:
A detailed breakup and analysis of the space propulsion systems market based on the end user has also been provided in the report. This includes civil and earth observation, government and military, and commercial. According to the report, government and military accounted for the largest market share.
Regional Insights:
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for space propulsion systems. Some of the factors driving the North America space propulsion systems market included rising demand for satellites, increasing space exploration activities, and various government initiatives.
The report has also provided a comprehensive analysis of the competitive landscape in the global space propulsion systems market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Accion Systems Inc., ArianeGroup, CU Aerospace L.L.C., IHI Corporation, Moog Inc., Northrop Grumman Corporation, OHB SE, Rafael Advanced Defense Systems Ltd., Safran S.A., Thales Group, VACCO Industries Inc. (ESCO Technologies Inc.), etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Billion USD |
Types Covered | Chemical Propulsion, Non-Chemical Propulsion |
Class of Orbits Covered | Elliptical, GEO, LEO, MEO |
End Users Covered | Civil and Earth Observation, Government and Military, Commercial |
Regions Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered | Accion Systems Inc., ArianeGroup, CU Aerospace L.L.C., IHI Corporation, Moog Inc., Northrop Grumman Corporation, OHB SE, Rafael Advanced Defense Systems Ltd., Safran S.A., Thales Group, VACCO Industries Inc. (ESCO Technologies Inc.), etc. |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |