Anticipated Surge in Demand: Satellite Propulsion Market Trends, Analysis, Size, and Forecast from 2023-28

MarkNtel Advisors has released a research report on the Satellite Propulsion Market Size, Share, Analysis, Research, Report 2028. The research segment utilizes efficient methodologies to convey sales and revenue forecasts for the specified years, enhancing user understanding and supporting well-informed decision-making. Through a combination of qualitative and quantitative data, this report comprehensively addresses significant changes, gap analyses, emerging opportunities, trends, industry dynamics, and competitive challenges. To familiarize both existing businesses and new entrants with the present market scenario, the report delivers detailed growth prospects for the industry and concise insights into competitors.

Satellite Propulsion Market Insights:

The Satellite Propulsion Market is expected to grow at around 6.7% CAGR during the forecast period, i.e., 2023-28.

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Global Satellite Propulsion Market Key Trend:

Rising Usage of Electric Propulsion Systems - The burgeoning research & development in the space field has resulted in the discovery of electric propulsion systems to be used in satellites. These electric propulsion systems are convenient to be used in comparison to the traditional chemical propulsion system because it reduces the fuel load capacity to be carried in the spacecraft, as with the use of an electric propulsion system, thrust can be created in ions using electricity. This, in turn, generates force and causes the satellite to move.

The ion propulsion system is an emerging technology that can be used in communication satellites. As communication satellites are generally lightweight, using an ion propulsion system reduces their overall weight, saving a lot of fuel costs while launching these satellites into Low Earth Orbit.

With the growing focus on weight reduction & effective usage of thrust for the longer lifecycle of the satellites, it is anticipated that the adoption of electric ion propulsion would assist the growth of the Global Satellite Propulsion market in the forecast years.

Leading Companies Operating in the Satellite Propulsion Industry:

-Moog Inc.

-Aliena Pte Ltd.

-Ariane Group

-Busek Co. Inc.

-Champaign Urbana Aerospace

-Neutron Star

-Northrop Grumman

-Orbion Space Technology

-Phase Four Inc.

-Sitael SPA

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Satellite Propulsion Market Categorization:

The Satellite Propulsion Market exhibits a high degree of fragmentation, categorizing into distinct segments as follows:

By System Type

-Bipropellant Propulsion System

-Monopropellant Propulsion System

-Ion-Thruster Propulsion Systems

By Application

-Application Satellite

--Communication & Broadcasting

--Weather

--Navigation

--Others

-Science Satellite

-Technology Experiment Satellite

By End User

-Government

-Private Entities

By Region

-Americas

-Europe

-Asia Pacific

-Rest of the World

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Frequently Asked Questions (FAQs)

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