MarkNtel Advisors analyses the growth rate of the Satellite Propulsion market in the forecast period from 2023 to 2028. In addition to comprehensive market insights such as market value, growth rate, market segmentation, key market players, and market dynamic. This detailed analysis aims to provide valuable information for stakeholders in the Satellite Propulsion market, helping them make informed decisions.

Market Outlook – 2023-2028:

The Global Satellite Propulsion Market is projected to grow at a CAGR of around 6.7% during the forecast period, i.e., 2023-28. A major factor attributing to its growth is the increase in the number of satellite launches, both by government space agencies as well as private companies. Various companies in the private sector, such as SpaceX, Virgin Galactic, etc., have entered into the satellite manufacturing as well as satellite launch industries in the historical years, which has revolutionized the satellite industry leading to the adoption of new technologies to reduce the cost. This phenomenon has subsequently, attracted a large number of industries to opt for the economical space launch solution for their satellite, further promoting the satellite industry & the market of satellite propulsion systems.

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Key Company Profiles

This report explores recent significant developments in the Satellite Propulsion Market, focusing on the leading companies and their innovative profiles. The major players in the Satellite Propulsion Market, featured in this report, include:

  • 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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Market Segmentation & Coverage

This research report by MarkNtel Advisors categorizes the Satellite Propulsion Market to forecast revenues and analyse trends across each of the following sub-markets:

  • By System Type
    • Bipropellant Propulsion System
    • Monopropellant Propulsion System
    • Ion-Thruster Propulsion Systems

Bipropellant Propulsion System, in particular, has captured a significant market share in the Global Satellite Propulsion System market.

  • 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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What are the primary factors driving the growth of the Global Satellite Propulsion Market?

Growing Launches of Navigation & Telecommunication Satellites to Promote the Satellite Propulsion Market - Navigation & Communication both play a crucial role in the majority of the services being availed by the customers. This has led many developing countries, such as China, India, South Korea, Japan, etc., to implement their domestic navigation satellite systems & expand telecommunication services through satellite communication. Navigation and telecommunication satellites require onboard propulsion systems for effective operational life, which necessitates course correction in orbit as well as pacing the satellite in the graveyard orbit at the end of the lifecycle.

With the growing focus on reducing the dependence on other countries for navigation & communication satellites, the focus of developing countries towards home-grown satellite systems would enhance in the coming years, leading to the massive demand for satellite propulsion systems in the coming years.

Key Questions Addressed:

  • Market Size and Growth Projections: What is the current size of the market, and how is it expected to grow?
  • Investment Opportunities: Which products, segments, and regions present the most attractive investment opportunities?
  • Technology Trends and Regulatory Influences: What are the prevailing technology trends and regulatory factors influencing the market?
  • Competitive Ranking: How do top vendors rank regarding market share and competitive positioning?
  • Revenue Sources and Strategic Opportunities: What revenue sources and strategic opportunities guide vendors' market entry or exit decisions?

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