Space Propulsion System Market

Global Space Propulsion System Market: Focus on Application, Type, and End-User - Analysis and Forecast, 2018-2023

According to BIS Research analysis, the global space propulsion system market generated $5.63 billion in 2018 and is estimated to grow at a CAGR of 13.06% during 2018-2023.

SKU: AD067A
Published Year: 2019
 

The space propulsion system market is expected to witness a high growth rate owing to significant increase in satellites and launch vehicle manufacturing. Recent innovations in components have enabled the space propulsion system technology to reach to a wider segment of consumers in the industry. Apart from this, significant investment in development of cost-effective and efficient The space propulsion system market is expected to witness a high growth rate owing to significant increase in satellites and launch vehicle manufacturing. Recent innovations in components have enabled the space propulsion system technology to reach to a wider segment of consumers in the industry. Apart from this, significant investment in development of cost-effective and efficient propulsion systems is a prominent factor leveraging growth in the market. For instance, NASA awarded contracts to six companies including SSL, Blue Origin, and Aerojet Rocketdyne, among others, with an aggregate worth of $44 million, to develop advanced propulsion system, in August 2018. Moreover, companies are developing various forms of emerging technologies, such as air breathing propulsion system, electric propulsion system, and reusable propulsion system, among others, which is expected to propel the growth in the global space propulsion system market. In terms of revenue, the global space propulsion system market generated a revenue of $5.63 billion in the year 2018.  

According to BIS Research analysis, the global space propulsion system market generated $5.63 billion in 2018 and is estimated to grow at a CAGR of 13.06% during 2018-2023. Europe dominated the global space propulsion system market in 2018, whereas, Rest-of-the-World is expected to have the highest growth rate during the forecast period 2018-2023.

Following points provide a detailed description of the report content and the topics covered in the report:

  •  This report identifies the global space propulsion system market under different segments such as end user, type, application, and region.
  •  It examines the prime demand-side factors that affect the growth of the market and the current and future trends, market drivers, restraints, and challenges prevalent in the global space propulsion system market.
  •  The report also highlights the value chain of the industry.
  •  This report includes a detailed competitive analysis, which focuses on the ¬key market developments and strategies followed by the top players in the market. Additionally, the market share, which analyzes the share of the players in the global space propulsion system market of the prominent companies, has been included in the existing study.
  •  The market for different end user such as commercial and government and military, has been estimated and analyzed. 
  •  The market analysis depending on the type of propulsion system in satellite (chemical, electric and hybrid propulsion system) and launch vehicle (solid, liquid, hybrid propulsion systems) in 2018, and what will be the estimates by 2023, has been estimated and analyzed in the report.
  •  The global space propulsion system market has been analyzed in the report for the major regions including North America, Europe, Asia-Pacific, and Rest-of-the-World.  
  •  The study provides detailed analysis of 15 key players in the global space propulsion system market, including IHI Corporation, Lockheed Martin Corporation, Mitsubishi Heavy Industries, Ltd., Northrop Grumman Corporation, Airbus SAS, Safran, OHB System AG, Thales Group, Aerojet Rocketdyne and Moog Inc., Space Exploration Technologies Corp. (SpaceX), Ariane Group GmbH, Blue Origin, Bradford, Phase Four, and Accion Systems Inc., among others, in the company profiles section. This section covers business financials, company snapshots, key products and services, major developments, future programs (if any), and the individual SWOT analysis.

1    Market Dynamics
      1.1    Drivers
               1.1.1    Global Growth in Satellite Launches
               1.1.2    Increasing Research and Development Activities to Develop Cost Efficient Propulsion Technology
               1.1.3    Increasing Investments in Launch Vehicle Industry
      1.2    Challenges
               1.2.1    High Cost Involved in the Development of Space Propulsion System
               1.2.2    Regulation Pertaining to Space Propulsion System
      1.3    Market Opportunities
               1.3.1    Ongoing Developments for Nano Material based Space Propulsion System
               1.3.2    Propulsion System Manufactured through 3D Printing

2    Competitive Insights
      2.1    Key Market Strategies and Developments
               2.1.1    Partnerships
               2.1.2    Product Launches
               2.1.3    Mergers and Acquisitions
               2.1.4    Other Developments
      2.2    Market Share Analysis

3    Industry Analysis
      3.1    Emerging Start-ups in Space Propulsion System Market
      3.2    Cost Analysis for Space Propulsion System
      3.3    Patent Analysis
      3.4    Supply Chain Analysis 
      3.5    Industry Attractiveness
               3.5.1    Bargaining Power of Suppliers
               3.5.2    Bargaining Power of Buyers
               3.5.3    Threat of New Entrants
               3.5.4    Threat of Substitutes
               3.5.5    Intensity of Competitive Rivalry

4    Global Space Propulsion System Market
      4.1    Assumptions and Limitations
      4.2    Market Overview

5    Global Space Propulsion System Market (by Application)
      5.1    Market Overview
      5.2    Satellite
      5.3    Launch Vehicle

6    Global Space Propulsion System Market (by Type)
      6.1    Market Overview
      6.2    Satellite
               6.2.1    Chemical Propulsion System
                           6.2.1.1    Monopropellant Chemical Propulsion System
                           6.2.1.2    Bipropellant Chemical Propulsion System
               6.2.2    Electric Propulsion System
                           6.2.2.1    Ion Electric Propulsion System
                           6.2.2.2    Hall Effect Electric Propulsion System
                           6.2.2.3    Pulsed Plasma Electric Propulsion System
                           6.2.2.4    Other Electric Propulsion System
               6.2.3    Hybrid Propulsion System
      6.3    Launch Vehicle
               6.3.1    Solid Propulsion System
               6.3.2    Liquid Propulsion System
               6.3.3    Hybrid Propulsion System

7    Global Space Propulsion System Market (by End User)
      7.1    Market Overview
      7.2    Commercial
      7.3    Government & Military

8    Global Space Propulsion System Market (by Region)
      8.1    Market Overview
      8.2    North America
               8.2.1    North America Space Propulsion System Market (by Application)
               8.2.2    North America Space Propulsion System Market (by Country)
                           8.2.2.1    The U.S.
                           8.2.2.2    Canada
      8.3    Europe
               8.3.1    Europe Space Propulsion System Market (by Application)
               8.3.2    Europe Space Propulsion System Market (by Country)
                           8.3.2.1    Russia
                           8.3.2.2    France
                           8.3.2.3    Germany
                           8.3.2.4    Italy
                           8.3.2.5    Rest-of-Europe
      8.4    Asia-Pacific
               8.4.1    Asia-Pacific Space Propulsion System Market (by Application)
               8.4.2    Asia-Pacific Space Propulsion System Market (by Country)
                           8.4.2.1    China
                           8.4.2.2    India
                           8.4.2.3    Japan
                           8.4.2.4    Rest-of-Asia-Pacific
      8.5    Rest-of-the-World (RoW)
               8.5.1    Rest-of-the-World (RoW) Space Propulsion System Market (by Application)

9    Futuristic Scenario for Space Propulsion System Market
      9.1    Upcoming Technologies in Space Propulsion System Market
               9.1.1    Ongoing Advancements for Green Propulsion System and Reusable Propulsion System
      9.2    Business Outlook for Miniaturized Propulsion System (Micro Propulsion System)
      9.3    Opportunities around Deep Space Mission

10  Company Profiles
      10.1    Accion Systems
                 10.1.1    Company Overview
                 10.1.2    Product Portfolio
                 10.1.3    Corporate Summary
                 10.1.4    SWOT Analysis
      10.2    Aerojet Rocketdyne
                 10.2.1    Company Overview
                 10.2.2    Product Portfolio
                 10.2.3    Financials
                               10.2.3.1    Overall Financials
                               10.2.3.2    Financial Summary
                 10.2.4    SWOT Analysis
      10.3    Airbus S.A.S
                 10.3.1    Company Overview
                 10.3.2    Product Portfolio
                 10.3.3    Financials
                               10.3.3.1    Overall Financials
                               10.3.3.2    Financial Summary
                 10.3.4    SWOT Analysis
      10.4    Ariane Group GmbH
                 10.4.1    Company Overview
                 10.4.2    Product Portfolio
                 10.4.3    Corporate Summary
                 10.4.4    SWOT Analysis
      10.5    Blue Origin
                 10.5.1    Company Overview
                 10.5.2    Product Portfolio
                 10.5.3    Corporate Summary
                 10.5.4    SWOT Analysis
      10.6    IHI Corporation  
                 10.6.1    Company Overview
                 10.6.2    Product Portfolio
                 10.6.3    Financials
                               10.6.3.1    Overall Financials
                                10.6.3.2    Financial Summary
                 10.6.4    SWOT Analysis
      10.7    Lockheed Martin Corporation
                 10.7.1    Company Overview
                 10.7.2    Product Portfolio
                 10.7.3    Financials
                               10.7.3.1    Overall Financials
                               10.7.3.2    Financial Summary
                 10.7.4    SWOT Analysis
      10.8    Mitsubishi Heavy Industries Ltd.
                 10.8.1    Company Overview
                 10.8.2    Product Portfolio
                 10.8.3    Financials
                               10.8.3.1    Overall Financials 
                               10.8.3.2    Financial Summary
                 10.8.4    SWOT Analysis
      10.9    Moog Inc.
                 10.9.1    Company Overview
                 10.9.2    Product Portfolio
                 10.9.3    Financials
                               10.9.3.1    Overall Financials
                               10.9.3.2    Financial Summary
                 10.9.4    SWOT Analysis
      10.1    Northrop Grumman Corporation
                 10.10.1    Company Overview
                 10.10.2    Product Portfolio
                 10.10.3    Financials
                                 10.10.3.1    Overall Financials
                                 10.10.3.2    Financial Summary
                 10.10.4    SWOT Analysis
     10.11    OHB System AG
                  10.11.1    Company Overview
                  10.11.2    Product Portfolio
                  10.11.3    Financials
                                  10.11.3.1    Overall Financials
                                  10.11.3.2    Financial Summary
                  10.11.4    SWOT Analysis
      10.12    Phase Four
                   10.12.1    Company Overview 
                   10.12.2    Product Portfolio
                   10.12.3    Corporate Summary
                   10.12.4    SWOT Analysis  
      10.13    Safran
                   10.13.1    Company Overview
                   10.13.2    Product Portfolio
                   10.13.3    Financials
                                   10.13.3.1    Overall Financials
                                   10.13.3.2    Financial Summary
                   10.13.4    SWOT Analysis
      10.14    Space Exploration Technologies Corp. (SpaceX)
                   10.14.1    Company Overview
                   10.14.2    Product Portfolio
                   10.14.3    Corporate Summary
                   10.14.4    SWOT Analysis
      10.15    Thales Group
                   10.15.1    Company Overview
                   10.15.2    Product Portfolio
                   10.15.3    Financials
                                  10.15.3.1    Overall Financials
                                  10.15.3.2    Financial Summary
                  10.15.4    SWOT Analysis

11    Research Scope & BIS Methodology
        11.1    Scope of the Report
        11.2    Global Space Propulsion System Market Research Methodology
        11.3    Assumptions and Limitations

12    Appendix
       12.1    Related Reports

List of Tables

Table 1.1: Space Propulsion System Market: Market Dynamics
Table 1.2: Type of Nano Material for Space Propulsion System
Table 1.3: Benefits and Challenges of 3D Printing
Table 2.1 Some of the Organic and Inorganic Growth Strategies Adopted by the Key Players
Table 3.1: Emerging Start-ups in Space Propulsion System Market
Table 3.2: Patent Analysis: Geosat Propulsion System Architecture with Electric Apogee Motor
Table 3.3: Patent Analysis: Rocket-Engine Propellant Delivery Systems
Table 3.4: Patent Analysis: Electric Pump Conveying System for Solid-Liquid Rocket Engine
Table 3.5: Patent Analysis: Thermoplastic-Aluminum Nanocomposite Based Hybrid Rocket Fuel Grain
Table 3.6: Patent Analysis: Maneuvering System for Earth Orbiting Satellites with Electric Thrusters
Table 5.1: Global Space Propulsion System Market (by Application), 2017-2023, ($Billion)
Table 5.2: List of Propulsion Systems and their Advantages and Disadvantages in Satellites
Table 6.1: Global Space Propulsion System Market (by Type), 2017-2023, ($Million)
Table 6.2: Types and Characteristics of Chemical Propulsion System
Table 6.3: Types of Cold Gas Thrusters
Table 6.4: Types and Characteristics of Electric Propulsion system
Table 6.5: Type and Characteristics of Cryogenic and Non-Cryogenic Propellants in Launch Vehicles
Table 6.6: Advantages of Hybrid Propulsion System over Solid and Liquid Propulsion System
Table 7.1: Global Space Propulsion System Market (by End User), 2017-2023, ($Billion)
Table 7.2: List of major GEO Satellite Contracts and Manufacturers
Table 8.1: Global Space Propulsion System Market Size (by Region), $Billion,  2017-2023
Table 9.1: List of Green Propulsion Systems:
Table 9.2: Propellants in Green Propulsion System
Table 9.3: Developments in Reusable Propulsion System:
Table 9.4: Expected Launches of Small Satellite Constellations by 2023
Table 9.5: Details on Deep Space Missions since 2010
Table 9.6: Details of Deep Space Missions in 2019 and 2020

List of Figures

Figure 1: Characteristics of the Space Propulsion System
Figure 2: Global Space Propulsion System Market Overview, 2017 and 2023
Figure 3: Global Space Propulsion System Market (by Application), 2017-2023
Figure 4: Global Space Propulsion System Market (by End User), 2017-2023
Figure 5: Global Space Propulsion System Market (by Type), 2017-2023
Figure 6: Global Space Propulsion System Market (by Region), 2017
Figure 1.1: Number of Satellites Launched from 2010-2018
Figure 1.2: Rocket Launches from 2005 to 2018
Figure 1.3: Stages Involved in Research and Development Phase of an Engine:
Figure 2.1: Percentage Share of Strategies Adopted by the Market Players, January 2015-October 2018. Total Developments = 44
Figure 2.2 Partnerships, Agreements, and Contracts Adopted by Key Market Players, 2016-2018
Figure 2.3 Product Launches by the Key Market Players, 2016-2018
Figure 2.4 Mergers and Acquisitions Adopted by the Key Market Players, 2017-2018
Figure 2.5 Other Developments by the Key Market Players, 2016-2018
Figure 2.6: Global Satellite Propulsion System Market: Market Share Analysis, 2017
Figure 2.7 Global Launch Vehicle Propulsion System Market: Market Share Analysis, 2017
Figure 3.1 Cost Analysis for a Satellite Propulsion System
Figure 3.2 Cost Analysis for a Launch Vehicle Propulsion System
Figure 3.3: Space Propulsion System: Supply Chain Analysis
Figure 3.4: Space Propulsion System: Porter’s Five Forces
Figure 3.5: Bargaining Power of Suppliers
Figure 3.6: Bargaining Power of Buyers
Figure 3.7: Threat of New Entrants
Figure 3.8: Intensity of Competitive Rivalry
Figure 4.1: Global Space Propulsion System Market, 2017-2023
Figure 5.1: Global Space Propulsion System Market (by Application)
Figure 5.2: Global Space Propulsion System Market (by Application), 2017-2023, (Volume, Units)
Figure 5.3: Global Space Propulsion System Market (by Satellite), 2017-2023
Figure 5.4: Global Satellite Propulsion System Market (by Sub-Category), 2017-2023
Figure 5.5: Global Launch Vehicle Propulsion System Market, 2017-2023
Figure 5.6: Global Launch Vehicle Propulsion System Market (by Subcategory), 2017-2023
Figure 6.1: Global Space Propulsion System Market (by Type), 2017-2023
Figure 6.2: Global Satellite Propulsion System Market (by Chemical Propulsion System), 2017-2023
Figure 6.3: Global Chemical Propulsion System Market (by Monopropellant Chemical Propulsion System), 2017-2023
Figure 6.4: Global Chemical Propulsion System Market (by Bipropellant Chemical Propulsion System), 2017-2023
Figure 6.5: Global Satellite Propulsion System Market (by Electric Propulsion System), 2017-2023
Figure 6.6: Global Electric Propulsion System Market (by Ion Electric Propulsion System), 2017-2023
Figure 6.7: Global Electric Propulsion System Market (by Hall Effect Electric Propulsion System), 2017-2023
Figure 6.8: Global Electric Propulsion System Market (by Pulsed Plasma Electric Propulsion System), 2017-2023
Figure 6.9: Global Electric Propulsion System Market (by Other Electric Propulsion System), 2017-2023
Figure 6.10: Global Satellite Propulsion System Market (by Hybrid Propulsion System), 2017-2023
Figure 6.11: Global Launch Vehicle Propulsion System Market (by Solid Propulsion System), 2017-2023
Figure 6.12: Global Launch Vehicle Propulsion System Market (by Liquid Propulsion System), 2017-2023
Figure 6.13: Global Liquid Propulsion System Market (by Subcategory), 2017-2023
Figure 6.14: Global Launch Vehicle Propulsion System Market (by Hybrid Propulsion System), 2017-2023
Figure 7.1: Global Space Propulsion System Market (by End User), 2017-2023
Figure 7.2: Classification of Global Space Propulsion System Market (by End User)
Figure 7.3: Global Space Propulsion System Market (by Commercial), 2017-2023
Figure 7.4: Global Commercial Space Propulsion System Market (by Application), 2017-2023
Figure 7.5: Global Space Propulsion System Market (by Government & Military End User), 2017-2023
Figure 7.6: Global Government & Military Space Propulsion System Market (by Application), 2017-2023
Figure 8.1: Classification of Global Space Propulsion System Market (by Region)
Figure 8.2: Global Space Propulsion System Market (by Region), 2017 and 2023
Figure 8.3: North America Space Propulsion System Market, 2017-2023
Figure 8.4: North America Space Propulsion System Market (by Application), 2017-2023
Figure 8.5: The U.S. Space Propulsion System Market, 2017-2023
Figure 8.6: Europe Space Propulsion System Market, 2017-2023
Figure 8.7: Europe Space Propulsion System Market (by Application), 2017-2023
Figure 8.8: Russia Space Propulsion System Market, 2017-2023
Figure 8.9: France Space Propulsion System Market, 2017-2023
Figure 8.10: Germany Space Propulsion System Market, 2017-2023
Figure 8.11: Italy Space Propulsion System Market, 2017-2023
Figure 8.12: Rest-of-Europe Space Propulsion System Market, 2017-2023
Figure 8.13: Asia-Pacific Space Propulsion System Market, 2017-2023
Figure 8.14: Asia-Pacific Space Propulsion System Market (by Application), 2017-2023
Figure 8.15: China Space Propulsion System Market, 2017-2023
Figure 8.16: India Space Propulsion System Market, 2017-2023
Figure 8.17: Japan Space Propulsion System Market, 2017-2023
Figure 8.18: Rest-of-Asia-Pacific Space Propulsion System Market, 2017-2023
Figure 8.19: Rest-of-the-World (RoW) Space Propulsion System Market, 2017-2023
Figure 8.20: Rest-of-the-World (RoW) Space Propulsion System Market (by Application), 2017-2023
Figure 9.1: Leading Factors for Advancement in Space Propulsion System
Figure 9.2: Space Propulsion Systems and Associated Technologies
Figure 9.3: Technological Roadmap for Propulsion Systems, 2010-2035
Figure 9.4: Propulsion System Technology Curve in Satellites
Figure 9.5: Advantages and Disadvantages of ADN and HAN Technology
Figure 9.6: Advantages and Disadvantages of Water Propulsion Technology
Figure 9.7: Advantages and Disadvantages of Hydrogen Peroxide Green Propulsion Technology
Figure 9.8: Global Small Satellite Market, 2017-2023
Figure 10.1: Share of Key Company Profiles
Figure 10.2: Accion Systems - Product Offerings
Figure 10.3: Accion Systems - SWOT Analysis
Figure 10.4: Aerojet Rocketdyne - Product Offerings
Figure 10.5: Aerojet Rocketdyne – Overall Financials, 2015-2017
Figure 10.6: Aerojet Rocketdyne – Net Revenue (by Business Segment), 2015 - 2017
Figure 10.7: Aerojet Rocketdyne - SWOT Analysis
Figure 10.8: Airbus S.A.S - Product Offerings
Figure 10.9: Airbus S.A.S – Overall Financials, 2015-2017
Figure 10.10: Airbus S.A.S – Net Revenue (by Business Segment), 2015 - 2017
Figure 10.11: Airbus S.A.S – Net Revenue (by Region), 2015-2017
Figure 10.12: Airbus S.A.S - SWOT Analysis
Figure 10.13: Ariane Group GmbH - Product Offerings
Figure 10.14: Ariane Group GmbH - SWOT Analysis
Figure 10.15: Blue Origin - Product Offerings
Figure 10.16: Blue Origin – Engine Propellant
Figure 10.17: Blue Origin - SWOT Analysis
Figure 10.18: IHI Corporation - Product Offerings
Figure 10.19: IHI Corporation – Overall Financials, 2015-2017
Figure 10.20: IHI Corporation – Net Revenue (by Business Segment), 2015 - 2017
Figure 10.21: IHI Corporation – Net Revenue (by Region), 2015-2017
Figure 10.22: IHI Corporation - SWOT Analysis
Figure 10.23: Lockheed Martin Corporation - Product Offerings
Figure 10.24: Lockheed Martin Corporation – Overall Financials, 2015-2017
Figure 10.25: Lockheed Martin Corporation – Net Revenue (by Business Segment), 2015 - 2017
Figure 10.26: Lockheed Martin Corporation – Net Revenue (by Customers), 2015-2017
Figure 10.27: Lockheed Martin Corporation - SWOT Analysis
Figure 10.28: Mitsubishi Heavy Industries Ltd. - Product Offerings
Figure 10.29: Mitsubishi Heavy Industries Ltd. – Overall Financials, 2015-2017
Figure 10.30: Mitsubishi Heavy Industries Ltd. – Net Revenue (by Business Segment), 2016 and 2017
Figure 10.31: Mitsubishi Heavy Industries Ltd. – Net Revenue (by Business Segment), 2015
Figure 10.32: Mitsubishi Heavy Industries Ltd. – Net Revenue (by Region), 2015-2017
Figure 10.33: Mitsubishi Heavy Industries Ltd. - SWOT Analysis
Figure 10.34: Moog Inc. - Product Offerings
Figure 10.35: Moog Inc. – Overall Financials, 2016-2018
Figure 10.36: Moog Inc. – Net Revenue (by Business Segment), 2016 - 2018
Figure 10.37: Moog Inc. – Net Revenue (by Region), 2016-2018
Figure 10.38: Moog Inc.- SWOT Analysis
Figure 10.39: Northrop Grumman Corporation - Product Offerings
Figure 10.40: Northrop Grumman Corporation – Overall Financials, 2015-2017
Figure 10.41: Northrop Grumman Corporation – Net Revenue (by Business Segment), 2015 - 2017
Figure 10.42: Northrop Grumman Corporation – Net Revenue (by Region), 2015-2017
Figure 10.43: Northrop Grumman Corporation - SWOT Analysis
Figure 10.44: OHB System AG - Product Offerings
Figure 10.45: OHB System AG – Overall Financials, 2015-2017
Figure 10.46: OHB System AG – Net Revenue (by Business Segment), 2015 - 2017
Figure 10.47: OHB System AG – Net Revenue (by Region), 2015-2017
Figure 10.48: OHB System AG - SWOT Analysis
Figure 10.49: Phase Four - Product Offerings
Figure 10.50: Phase Four - SWOT Analysis
Figure 10.51: Safran - Product Offerings
Figure 10.52: Safran – Overall Financials, 2015-2017
Figure 10.53: Safran – Net Revenue (by Business Segment), 2015 – 2017
Figure 10.54: Safran – Net Revenue (by Region), 2015-2017
Figure 10.55: Safran - SWOT Analysis
Figure 10.56: SpaceX - Product Offerings
Figure 10.57: SpaceX - SWOT Analysis
Figure 10.58: Thales Group- Product Offerings
Figure 10.59: Thales Group – Overall Financials, 2015-2017
Figure 10.60: Thales Group – Net Revenue (by Business Segment), 2015 - 2017
Figure 10.61: Thales Group – Net Revenue (by Region), 2015-2017
Figure 10.62: Thales Group - SWOT Analysis
Figure 11.1: Global Space Propulsion System Market Segmentation
Figure 11.2: Secondary Data Sources
Figure 11.3: Top Down and Bottom Up Approach
Figure 11.4: Space Propulsion System Market Influencing Factors
Figure 11.5: Assumptions and Limitations    

In recent times, the space industry has been witnessing various initiatives by space organizations and governments of various countries, together with entrepreneurs. The space industry is currently driven by a series of missions, which are utilizing resources to create value and benefit society, globally, in terms of understanding, exploring, researching, managing, and utilizing space. Presently, the space industry includes collection of critical technologies such as communication, remote sensing, and global positioning satellites. Space activities were a government dominated sector, however, the initiatives from both the government and the private sectors are expanding the opportunities for various nations in developing cutting edge space technologies.  

The space propulsion system includes engine, propellants, pumps, nozzles, tanks, and power head. The primary function of the space propulsion system is to provide thrust, which helps in the functioning of the launch vehicle or satellite. In propulsion systems, the fluid (either solid, liquid, or electric) reacts to initiate acceleration and provide force in the system. The space propulsion systems can be summarized in three categories: namely, "escape propulsion" which is used in the launch vehicle to escape the earth surface; "in-space propulsion" which is equipped in the satellites for orbit maneuvering, and "deep space propulsion" which is used to move further in the space from designated orbit of the satellite. Currently, launch vehicles rely on mature technologies such as solid propulsion, liquid propulsion and combination of both, wherein, there have been tremendous efforts by the manufacturing companies to develop advanced propulsion technologies in satellites.

Some of the key players in the global space propulsion system market includes IHI Corporation, Lockheed Martin Corporation, Mitsubishi Heavy Industries, Ltd., Northrop Grumman Corporation, Airbus SAS, Safran, OHB System AG, Thales Group, Aerojet Rocketdyne and Moog Inc., Space Exploration Technologies Corp. (SpaceX), Ariane Group GmbH, Blue Origin, Phase Four, and Accion Systems Inc. These companies are aiming for a wide range of product launches and collaborations to expand their operations and also to prevent new companies from becoming future competitors.  At the same time, a number of startup companies are venturing into the market to provide propulsion solutions to varied end users.

FIGURE 1    GLOBAL SPACE PROPULSION SYSTEM MARKET, 2018-2023

Space Propulsion

Source: Expert Interviews, Secondary Research, and BIS Research Analysis 

The preceding figure illustrates the increasing number of space propulsion systems and revenue generation of the global space propulsion system market in 2018 and in the forecast period, 2018-2023. The market reported a revenue of $5.63 billion in 2018 and is expected to grow at a significant CAGR during the forecast period 2018-2023. The global space propulsion system market has been segmented into two end-users: commercial and government and military. The government and military end-user segment acquired the largest share in 2018; however, commercial end-user segment is expected to grow at the highest CAGR during the forecast period, 2018-2023. In addition, the global space propulsion system market is also classified depending upon the application i.e. launch vehicle and satellite. The launch vehicle segment had the highest market penetration in 2018. However, the satellite segment is estimated to grow at the highest CAGR during the forecast period, 2018-2023. 

Europe accounted for the highest share of the market in 2018, owing to the maximum number of space propulsion system developed. However, Rest-of-the-World is expected to witness the highest growth during the forecast period, 2018-2023, mainly due to the continued efforts in development of satellite technologies to transform the national economy and strengthen security. 

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The space propulsion system market is expected to witness a high growth rate owing to significant increase in satellites and launch vehicle manufacturing. Recent innovations in components have enabled the space propulsion system technology to reach to a wider segment of consumers in the industry. Apart from this, significant investment in development of cost-effective and efficient The space propulsion system market is expected to witness a high growth rate owing to significant increase in satellites and launch vehicle manufacturing. Recent innovations in components have enabled the space propulsion system technology to reach to a wider segment of consumers in the industry. Apart from this, significant investment in development of cost-effective and efficient propulsion systems is a prominent factor leveraging growth in the market. For instance, NASA awarded contracts to six companies including SSL, Blue Origin, and Aerojet Rocketdyne, among others, with an aggregate worth of $44 million, to develop advanced propulsion system, in August 2018. Moreover, companies are developing various forms of emerging technologies, such as air breathing propulsion system, electric propulsion system, and reusable propulsion system, among others, which is expected to propel the growth in the global space propulsion system market. In terms of revenue, the global space propulsion system market generated a revenue of $5.63 billion in the year 2018.  

According to BIS Research analysis, the global space propulsion system market generated $5.63 billion in 2018 and is estimated to grow at a CAGR of 13.06% during 2018-2023. Europe dominated the global space propulsion system market in 2018, whereas, Rest-of-the-World is expected to have the highest growth rate during the forecast period 2018-2023.

Following points provide a detailed description of the report content and the topics covered in the report:

  •  This report identifies the global space propulsion system market under different segments such as end user, type, application, and region.
  •  It examines the prime demand-side factors that affect the growth of the market and the current and future trends, market drivers, restraints, and challenges prevalent in the global space propulsion system market.
  •  The report also highlights the value chain of the industry.
  •  This report includes a detailed competitive analysis, which focuses on the ¬key market developments and strategies followed by the top players in the market. Additionally, the market share, which analyzes the share of the players in the global space propulsion system market of the prominent companies, has been included in the existing study.
  •  The market for different end user such as commercial and government and military, has been estimated and analyzed. 
  •  The market analysis depending on the type of propulsion system in satellite (chemical, electric and hybrid propulsion system) and launch vehicle (solid, liquid, hybrid propulsion systems) in 2018, and what will be the estimates by 2023, has been estimated and analyzed in the report.
  •  The global space propulsion system market has been analyzed in the report for the major regions including North America, Europe, Asia-Pacific, and Rest-of-the-World.  
  •  The study provides detailed analysis of 15 key players in the global space propulsion system market, including IHI Corporation, Lockheed Martin Corporation, Mitsubishi Heavy Industries, Ltd., Northrop Grumman Corporation, Airbus SAS, Safran, OHB System AG, Thales Group, Aerojet Rocketdyne and Moog Inc., Space Exploration Technologies Corp. (SpaceX), Ariane Group GmbH, Blue Origin, Bradford, Phase Four, and Accion Systems Inc., among others, in the company profiles section. This section covers business financials, company snapshots, key products and services, major developments, future programs (if any), and the individual SWOT analysis.

1    Market Dynamics
      1.1    Drivers
               1.1.1    Global Growth in Satellite Launches
               1.1.2    Increasing Research and Development Activities to Develop Cost Efficient Propulsion Technology
               1.1.3    Increasing Investments in Launch Vehicle Industry
      1.2    Challenges
               1.2.1    High Cost Involved in the Development of Space Propulsion System
               1.2.2    Regulation Pertaining to Space Propulsion System
      1.3    Market Opportunities
               1.3.1    Ongoing Developments for Nano Material based Space Propulsion System
               1.3.2    Propulsion System Manufactured through 3D Printing

2    Competitive Insights
      2.1    Key Market Strategies and Developments
               2.1.1    Partnerships
               2.1.2    Product Launches
               2.1.3    Mergers and Acquisitions
               2.1.4    Other Developments
      2.2    Market Share Analysis

3    Industry Analysis
      3.1    Emerging Start-ups in Space Propulsion System Market
      3.2    Cost Analysis for Space Propulsion System
      3.3    Patent Analysis
      3.4    Supply Chain Analysis 
      3.5    Industry Attractiveness
               3.5.1    Bargaining Power of Suppliers
               3.5.2    Bargaining Power of Buyers
               3.5.3    Threat of New Entrants
               3.5.4    Threat of Substitutes
               3.5.5    Intensity of Competitive Rivalry

4    Global Space Propulsion System Market
      4.1    Assumptions and Limitations
      4.2    Market Overview

5    Global Space Propulsion System Market (by Application)
      5.1    Market Overview
      5.2    Satellite
      5.3    Launch Vehicle

6    Global Space Propulsion System Market (by Type)
      6.1    Market Overview
      6.2    Satellite
               6.2.1    Chemical Propulsion System
                           6.2.1.1    Monopropellant Chemical Propulsion System
                           6.2.1.2    Bipropellant Chemical Propulsion System
               6.2.2    Electric Propulsion System
                           6.2.2.1    Ion Electric Propulsion System
                           6.2.2.2    Hall Effect Electric Propulsion System
                           6.2.2.3    Pulsed Plasma Electric Propulsion System
                           6.2.2.4    Other Electric Propulsion System
               6.2.3    Hybrid Propulsion System
      6.3    Launch Vehicle
               6.3.1    Solid Propulsion System
               6.3.2    Liquid Propulsion System
               6.3.3    Hybrid Propulsion System

7    Global Space Propulsion System Market (by End User)
      7.1    Market Overview
      7.2    Commercial
      7.3    Government & Military

8    Global Space Propulsion System Market (by Region)
      8.1    Market Overview
      8.2    North America
               8.2.1    North America Space Propulsion System Market (by Application)
               8.2.2    North America Space Propulsion System Market (by Country)
                           8.2.2.1    The U.S.
                           8.2.2.2    Canada
      8.3    Europe
               8.3.1    Europe Space Propulsion System Market (by Application)
               8.3.2    Europe Space Propulsion System Market (by Country)
                           8.3.2.1    Russia
                           8.3.2.2    France
                           8.3.2.3    Germany
                           8.3.2.4    Italy
                           8.3.2.5    Rest-of-Europe
      8.4    Asia-Pacific
               8.4.1    Asia-Pacific Space Propulsion System Market (by Application)
               8.4.2    Asia-Pacific Space Propulsion System Market (by Country)
                           8.4.2.1    China
                           8.4.2.2    India
                           8.4.2.3    Japan
                           8.4.2.4    Rest-of-Asia-Pacific
      8.5    Rest-of-the-World (RoW)
               8.5.1    Rest-of-the-World (RoW) Space Propulsion System Market (by Application)

9    Futuristic Scenario for Space Propulsion System Market
      9.1    Upcoming Technologies in Space Propulsion System Market
               9.1.1    Ongoing Advancements for Green Propulsion System and Reusable Propulsion System
      9.2    Business Outlook for Miniaturized Propulsion System (Micro Propulsion System)
      9.3    Opportunities around Deep Space Mission

10  Company Profiles
      10.1    Accion Systems
                 10.1.1    Company Overview
                 10.1.2    Product Portfolio
                 10.1.3    Corporate Summary
                 10.1.4    SWOT Analysis
      10.2    Aerojet Rocketdyne
                 10.2.1    Company Overview
                 10.2.2    Product Portfolio
                 10.2.3    Financials
                               10.2.3.1    Overall Financials
                               10.2.3.2    Financial Summary
                 10.2.4    SWOT Analysis
      10.3    Airbus S.A.S
                 10.3.1    Company Overview
                 10.3.2    Product Portfolio
                 10.3.3    Financials
                               10.3.3.1    Overall Financials
                               10.3.3.2    Financial Summary
                 10.3.4    SWOT Analysis
      10.4    Ariane Group GmbH
                 10.4.1    Company Overview
                 10.4.2    Product Portfolio
                 10.4.3    Corporate Summary
                 10.4.4    SWOT Analysis
      10.5    Blue Origin
                 10.5.1    Company Overview
                 10.5.2    Product Portfolio
                 10.5.3    Corporate Summary
                 10.5.4    SWOT Analysis
      10.6    IHI Corporation  
                 10.6.1    Company Overview
                 10.6.2    Product Portfolio
                 10.6.3    Financials
                               10.6.3.1    Overall Financials
                                10.6.3.2    Financial Summary
                 10.6.4    SWOT Analysis
      10.7    Lockheed Martin Corporation
                 10.7.1    Company Overview
                 10.7.2    Product Portfolio
                 10.7.3    Financials
                               10.7.3.1    Overall Financials
                               10.7.3.2    Financial Summary
                 10.7.4    SWOT Analysis
      10.8    Mitsubishi Heavy Industries Ltd.
                 10.8.1    Company Overview
                 10.8.2    Product Portfolio
                 10.8.3    Financials
                               10.8.3.1    Overall Financials 
                               10.8.3.2    Financial Summary
                 10.8.4    SWOT Analysis
      10.9    Moog Inc.
                 10.9.1    Company Overview
                 10.9.2    Product Portfolio
                 10.9.3    Financials
                               10.9.3.1    Overall Financials
                               10.9.3.2    Financial Summary
                 10.9.4    SWOT Analysis
      10.1    Northrop Grumman Corporation
                 10.10.1    Company Overview
                 10.10.2    Product Portfolio
                 10.10.3    Financials
                                 10.10.3.1    Overall Financials
                                 10.10.3.2    Financial Summary
                 10.10.4    SWOT Analysis
     10.11    OHB System AG
                  10.11.1    Company Overview
                  10.11.2    Product Portfolio
                  10.11.3    Financials
                                  10.11.3.1    Overall Financials
                                  10.11.3.2    Financial Summary
                  10.11.4    SWOT Analysis
      10.12    Phase Four
                   10.12.1    Company Overview 
                   10.12.2    Product Portfolio
                   10.12.3    Corporate Summary
                   10.12.4    SWOT Analysis  
      10.13    Safran
                   10.13.1    Company Overview
                   10.13.2    Product Portfolio
                   10.13.3    Financials
                                   10.13.3.1    Overall Financials
                                   10.13.3.2    Financial Summary
                   10.13.4    SWOT Analysis
      10.14    Space Exploration Technologies Corp. (SpaceX)
                   10.14.1    Company Overview
                   10.14.2    Product Portfolio
                   10.14.3    Corporate Summary
                   10.14.4    SWOT Analysis
      10.15    Thales Group
                   10.15.1    Company Overview
                   10.15.2    Product Portfolio
                   10.15.3    Financials
                                  10.15.3.1    Overall Financials
                                  10.15.3.2    Financial Summary
                  10.15.4    SWOT Analysis

11    Research Scope & BIS Methodology
        11.1    Scope of the Report
        11.2    Global Space Propulsion System Market Research Methodology
        11.3    Assumptions and Limitations

12    Appendix
       12.1    Related Reports

List of Tables

Table 1.1: Space Propulsion System Market: Market Dynamics
Table 1.2: Type of Nano Material for Space Propulsion System
Table 1.3: Benefits and Challenges of 3D Printing
Table 2.1 Some of the Organic and Inorganic Growth Strategies Adopted by the Key Players
Table 3.1: Emerging Start-ups in Space Propulsion System Market
Table 3.2: Patent Analysis: Geosat Propulsion System Architecture with Electric Apogee Motor
Table 3.3: Patent Analysis: Rocket-Engine Propellant Delivery Systems
Table 3.4: Patent Analysis: Electric Pump Conveying System for Solid-Liquid Rocket Engine
Table 3.5: Patent Analysis: Thermoplastic-Aluminum Nanocomposite Based Hybrid Rocket Fuel Grain
Table 3.6: Patent Analysis: Maneuvering System for Earth Orbiting Satellites with Electric Thrusters
Table 5.1: Global Space Propulsion System Market (by Application), 2017-2023, ($Billion)
Table 5.2: List of Propulsion Systems and their Advantages and Disadvantages in Satellites
Table 6.1: Global Space Propulsion System Market (by Type), 2017-2023, ($Million)
Table 6.2: Types and Characteristics of Chemical Propulsion System
Table 6.3: Types of Cold Gas Thrusters
Table 6.4: Types and Characteristics of Electric Propulsion system
Table 6.5: Type and Characteristics of Cryogenic and Non-Cryogenic Propellants in Launch Vehicles
Table 6.6: Advantages of Hybrid Propulsion System over Solid and Liquid Propulsion System
Table 7.1: Global Space Propulsion System Market (by End User), 2017-2023, ($Billion)
Table 7.2: List of major GEO Satellite Contracts and Manufacturers
Table 8.1: Global Space Propulsion System Market Size (by Region), $Billion,  2017-2023
Table 9.1: List of Green Propulsion Systems:
Table 9.2: Propellants in Green Propulsion System
Table 9.3: Developments in Reusable Propulsion System:
Table 9.4: Expected Launches of Small Satellite Constellations by 2023
Table 9.5: Details on Deep Space Missions since 2010
Table 9.6: Details of Deep Space Missions in 2019 and 2020

List of Figures

Figure 1: Characteristics of the Space Propulsion System
Figure 2: Global Space Propulsion System Market Overview, 2017 and 2023
Figure 3: Global Space Propulsion System Market (by Application), 2017-2023
Figure 4: Global Space Propulsion System Market (by End User), 2017-2023
Figure 5: Global Space Propulsion System Market (by Type), 2017-2023
Figure 6: Global Space Propulsion System Market (by Region), 2017
Figure 1.1: Number of Satellites Launched from 2010-2018
Figure 1.2: Rocket Launches from 2005 to 2018
Figure 1.3: Stages Involved in Research and Development Phase of an Engine:
Figure 2.1: Percentage Share of Strategies Adopted by the Market Players, January 2015-October 2018. Total Developments = 44
Figure 2.2 Partnerships, Agreements, and Contracts Adopted by Key Market Players, 2016-2018
Figure 2.3 Product Launches by the Key Market Players, 2016-2018
Figure 2.4 Mergers and Acquisitions Adopted by the Key Market Players, 2017-2018
Figure 2.5 Other Developments by the Key Market Players, 2016-2018
Figure 2.6: Global Satellite Propulsion System Market: Market Share Analysis, 2017
Figure 2.7 Global Launch Vehicle Propulsion System Market: Market Share Analysis, 2017
Figure 3.1 Cost Analysis for a Satellite Propulsion System
Figure 3.2 Cost Analysis for a Launch Vehicle Propulsion System
Figure 3.3: Space Propulsion System: Supply Chain Analysis
Figure 3.4: Space Propulsion System: Porter’s Five Forces
Figure 3.5: Bargaining Power of Suppliers
Figure 3.6: Bargaining Power of Buyers
Figure 3.7: Threat of New Entrants
Figure 3.8: Intensity of Competitive Rivalry
Figure 4.1: Global Space Propulsion System Market, 2017-2023
Figure 5.1: Global Space Propulsion System Market (by Application)
Figure 5.2: Global Space Propulsion System Market (by Application), 2017-2023, (Volume, Units)
Figure 5.3: Global Space Propulsion System Market (by Satellite), 2017-2023
Figure 5.4: Global Satellite Propulsion System Market (by Sub-Category), 2017-2023
Figure 5.5: Global Launch Vehicle Propulsion System Market, 2017-2023
Figure 5.6: Global Launch Vehicle Propulsion System Market (by Subcategory), 2017-2023
Figure 6.1: Global Space Propulsion System Market (by Type), 2017-2023
Figure 6.2: Global Satellite Propulsion System Market (by Chemical Propulsion System), 2017-2023
Figure 6.3: Global Chemical Propulsion System Market (by Monopropellant Chemical Propulsion System), 2017-2023
Figure 6.4: Global Chemical Propulsion System Market (by Bipropellant Chemical Propulsion System), 2017-2023
Figure 6.5: Global Satellite Propulsion System Market (by Electric Propulsion System), 2017-2023
Figure 6.6: Global Electric Propulsion System Market (by Ion Electric Propulsion System), 2017-2023
Figure 6.7: Global Electric Propulsion System Market (by Hall Effect Electric Propulsion System), 2017-2023
Figure 6.8: Global Electric Propulsion System Market (by Pulsed Plasma Electric Propulsion System), 2017-2023
Figure 6.9: Global Electric Propulsion System Market (by Other Electric Propulsion System), 2017-2023
Figure 6.10: Global Satellite Propulsion System Market (by Hybrid Propulsion System), 2017-2023
Figure 6.11: Global Launch Vehicle Propulsion System Market (by Solid Propulsion System), 2017-2023
Figure 6.12: Global Launch Vehicle Propulsion System Market (by Liquid Propulsion System), 2017-2023
Figure 6.13: Global Liquid Propulsion System Market (by Subcategory), 2017-2023
Figure 6.14: Global Launch Vehicle Propulsion System Market (by Hybrid Propulsion System), 2017-2023
Figure 7.1: Global Space Propulsion System Market (by End User), 2017-2023
Figure 7.2: Classification of Global Space Propulsion System Market (by End User)
Figure 7.3: Global Space Propulsion System Market (by Commercial), 2017-2023
Figure 7.4: Global Commercial Space Propulsion System Market (by Application), 2017-2023
Figure 7.5: Global Space Propulsion System Market (by Government & Military End User), 2017-2023
Figure 7.6: Global Government & Military Space Propulsion System Market (by Application), 2017-2023
Figure 8.1: Classification of Global Space Propulsion System Market (by Region)
Figure 8.2: Global Space Propulsion System Market (by Region), 2017 and 2023
Figure 8.3: North America Space Propulsion System Market, 2017-2023
Figure 8.4: North America Space Propulsion System Market (by Application), 2017-2023
Figure 8.5: The U.S. Space Propulsion System Market, 2017-2023
Figure 8.6: Europe Space Propulsion System Market, 2017-2023
Figure 8.7: Europe Space Propulsion System Market (by Application), 2017-2023
Figure 8.8: Russia Space Propulsion System Market, 2017-2023
Figure 8.9: France Space Propulsion System Market, 2017-2023
Figure 8.10: Germany Space Propulsion System Market, 2017-2023
Figure 8.11: Italy Space Propulsion System Market, 2017-2023
Figure 8.12: Rest-of-Europe Space Propulsion System Market, 2017-2023
Figure 8.13: Asia-Pacific Space Propulsion System Market, 2017-2023
Figure 8.14: Asia-Pacific Space Propulsion System Market (by Application), 2017-2023
Figure 8.15: China Space Propulsion System Market, 2017-2023
Figure 8.16: India Space Propulsion System Market, 2017-2023
Figure 8.17: Japan Space Propulsion System Market, 2017-2023
Figure 8.18: Rest-of-Asia-Pacific Space Propulsion System Market, 2017-2023
Figure 8.19: Rest-of-the-World (RoW) Space Propulsion System Market, 2017-2023
Figure 8.20: Rest-of-the-World (RoW) Space Propulsion System Market (by Application), 2017-2023
Figure 9.1: Leading Factors for Advancement in Space Propulsion System
Figure 9.2: Space Propulsion Systems and Associated Technologies
Figure 9.3: Technological Roadmap for Propulsion Systems, 2010-2035
Figure 9.4: Propulsion System Technology Curve in Satellites
Figure 9.5: Advantages and Disadvantages of ADN and HAN Technology
Figure 9.6: Advantages and Disadvantages of Water Propulsion Technology
Figure 9.7: Advantages and Disadvantages of Hydrogen Peroxide Green Propulsion Technology
Figure 9.8: Global Small Satellite Market, 2017-2023
Figure 10.1: Share of Key Company Profiles
Figure 10.2: Accion Systems - Product Offerings
Figure 10.3: Accion Systems - SWOT Analysis
Figure 10.4: Aerojet Rocketdyne - Product Offerings
Figure 10.5: Aerojet Rocketdyne – Overall Financials, 2015-2017
Figure 10.6: Aerojet Rocketdyne – Net Revenue (by Business Segment), 2015 - 2017
Figure 10.7: Aerojet Rocketdyne - SWOT Analysis
Figure 10.8: Airbus S.A.S - Product Offerings
Figure 10.9: Airbus S.A.S – Overall Financials, 2015-2017
Figure 10.10: Airbus S.A.S – Net Revenue (by Business Segment), 2015 - 2017
Figure 10.11: Airbus S.A.S – Net Revenue (by Region), 2015-2017
Figure 10.12: Airbus S.A.S - SWOT Analysis
Figure 10.13: Ariane Group GmbH - Product Offerings
Figure 10.14: Ariane Group GmbH - SWOT Analysis
Figure 10.15: Blue Origin - Product Offerings
Figure 10.16: Blue Origin – Engine Propellant
Figure 10.17: Blue Origin - SWOT Analysis
Figure 10.18: IHI Corporation - Product Offerings
Figure 10.19: IHI Corporation – Overall Financials, 2015-2017
Figure 10.20: IHI Corporation – Net Revenue (by Business Segment), 2015 - 2017
Figure 10.21: IHI Corporation – Net Revenue (by Region), 2015-2017
Figure 10.22: IHI Corporation - SWOT Analysis
Figure 10.23: Lockheed Martin Corporation - Product Offerings
Figure 10.24: Lockheed Martin Corporation – Overall Financials, 2015-2017
Figure 10.25: Lockheed Martin Corporation – Net Revenue (by Business Segment), 2015 - 2017
Figure 10.26: Lockheed Martin Corporation – Net Revenue (by Customers), 2015-2017
Figure 10.27: Lockheed Martin Corporation - SWOT Analysis
Figure 10.28: Mitsubishi Heavy Industries Ltd. - Product Offerings
Figure 10.29: Mitsubishi Heavy Industries Ltd. – Overall Financials, 2015-2017
Figure 10.30: Mitsubishi Heavy Industries Ltd. – Net Revenue (by Business Segment), 2016 and 2017
Figure 10.31: Mitsubishi Heavy Industries Ltd. – Net Revenue (by Business Segment), 2015
Figure 10.32: Mitsubishi Heavy Industries Ltd. – Net Revenue (by Region), 2015-2017
Figure 10.33: Mitsubishi Heavy Industries Ltd. - SWOT Analysis
Figure 10.34: Moog Inc. - Product Offerings
Figure 10.35: Moog Inc. – Overall Financials, 2016-2018
Figure 10.36: Moog Inc. – Net Revenue (by Business Segment), 2016 - 2018
Figure 10.37: Moog Inc. – Net Revenue (by Region), 2016-2018
Figure 10.38: Moog Inc.- SWOT Analysis
Figure 10.39: Northrop Grumman Corporation - Product Offerings
Figure 10.40: Northrop Grumman Corporation – Overall Financials, 2015-2017
Figure 10.41: Northrop Grumman Corporation – Net Revenue (by Business Segment), 2015 - 2017
Figure 10.42: Northrop Grumman Corporation – Net Revenue (by Region), 2015-2017
Figure 10.43: Northrop Grumman Corporation - SWOT Analysis
Figure 10.44: OHB System AG - Product Offerings
Figure 10.45: OHB System AG – Overall Financials, 2015-2017
Figure 10.46: OHB System AG – Net Revenue (by Business Segment), 2015 - 2017
Figure 10.47: OHB System AG – Net Revenue (by Region), 2015-2017
Figure 10.48: OHB System AG - SWOT Analysis
Figure 10.49: Phase Four - Product Offerings
Figure 10.50: Phase Four - SWOT Analysis
Figure 10.51: Safran - Product Offerings
Figure 10.52: Safran – Overall Financials, 2015-2017
Figure 10.53: Safran – Net Revenue (by Business Segment), 2015 – 2017
Figure 10.54: Safran – Net Revenue (by Region), 2015-2017
Figure 10.55: Safran - SWOT Analysis
Figure 10.56: SpaceX - Product Offerings
Figure 10.57: SpaceX - SWOT Analysis
Figure 10.58: Thales Group- Product Offerings
Figure 10.59: Thales Group – Overall Financials, 2015-2017
Figure 10.60: Thales Group – Net Revenue (by Business Segment), 2015 - 2017
Figure 10.61: Thales Group – Net Revenue (by Region), 2015-2017
Figure 10.62: Thales Group - SWOT Analysis
Figure 11.1: Global Space Propulsion System Market Segmentation
Figure 11.2: Secondary Data Sources
Figure 11.3: Top Down and Bottom Up Approach
Figure 11.4: Space Propulsion System Market Influencing Factors
Figure 11.5: Assumptions and Limitations    

In recent times, the space industry has been witnessing various initiatives by space organizations and governments of various countries, together with entrepreneurs. The space industry is currently driven by a series of missions, which are utilizing resources to create value and benefit society, globally, in terms of understanding, exploring, researching, managing, and utilizing space. Presently, the space industry includes collection of critical technologies such as communication, remote sensing, and global positioning satellites. Space activities were a government dominated sector, however, the initiatives from both the government and the private sectors are expanding the opportunities for various nations in developing cutting edge space technologies.  

The space propulsion system includes engine, propellants, pumps, nozzles, tanks, and power head. The primary function of the space propulsion system is to provide thrust, which helps in the functioning of the launch vehicle or satellite. In propulsion systems, the fluid (either solid, liquid, or electric) reacts to initiate acceleration and provide force in the system. The space propulsion systems can be summarized in three categories: namely, "escape propulsion" which is used in the launch vehicle to escape the earth surface; "in-space propulsion" which is equipped in the satellites for orbit maneuvering, and "deep space propulsion" which is used to move further in the space from designated orbit of the satellite. Currently, launch vehicles rely on mature technologies such as solid propulsion, liquid propulsion and combination of both, wherein, there have been tremendous efforts by the manufacturing companies to develop advanced propulsion technologies in satellites.

Some of the key players in the global space propulsion system market includes IHI Corporation, Lockheed Martin Corporation, Mitsubishi Heavy Industries, Ltd., Northrop Grumman Corporation, Airbus SAS, Safran, OHB System AG, Thales Group, Aerojet Rocketdyne and Moog Inc., Space Exploration Technologies Corp. (SpaceX), Ariane Group GmbH, Blue Origin, Phase Four, and Accion Systems Inc. These companies are aiming for a wide range of product launches and collaborations to expand their operations and also to prevent new companies from becoming future competitors.  At the same time, a number of startup companies are venturing into the market to provide propulsion solutions to varied end users.

FIGURE 1    GLOBAL SPACE PROPULSION SYSTEM MARKET, 2018-2023

Space Propulsion

Source: Expert Interviews, Secondary Research, and BIS Research Analysis 

The preceding figure illustrates the increasing number of space propulsion systems and revenue generation of the global space propulsion system market in 2018 and in the forecast period, 2018-2023. The market reported a revenue of $5.63 billion in 2018 and is expected to grow at a significant CAGR during the forecast period 2018-2023. The global space propulsion system market has been segmented into two end-users: commercial and government and military. The government and military end-user segment acquired the largest share in 2018; however, commercial end-user segment is expected to grow at the highest CAGR during the forecast period, 2018-2023. In addition, the global space propulsion system market is also classified depending upon the application i.e. launch vehicle and satellite. The launch vehicle segment had the highest market penetration in 2018. However, the satellite segment is estimated to grow at the highest CAGR during the forecast period, 2018-2023. 

Europe accounted for the highest share of the market in 2018, owing to the maximum number of space propulsion system developed. However, Rest-of-the-World is expected to witness the highest growth during the forecast period, 2018-2023, mainly due to the continued efforts in development of satellite technologies to transform the national economy and strengthen security. 

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