Aerospace Industry Fueling Growth in Space Propulsion System Market, Projected to Reach $32.8 Billion by 2031

The most critical factor in the design and operation of aviation or spacecraft missions is the propulsive force.

OREGAON, PORTLAND, UNITED STATES , March 5, 2024 /EINPresswire.com/ — Allied Market Research recently published a report, titled, “Space Propulsion System Market by Type (Chemical Propulsion, Non Chemical Propulsion), by Class of Orbit (Elliptical, GEO, LEO, MEO), by End User (Civil and Earth Observation, Government and Military, Commercial): Global Opportunity Analysis and Industry Forecast, 2021-2031″ As per the report, the global space propulsion system industry generated $8.9 billion in 2021, and is projected to reach $32.8 billion by 2031, growing at a CAGR of 14.3% from 2022 to 2031.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 – https://www.alliedmarketresearch.com/request-sample/A10443

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐚 𝐬𝐩𝐚𝐜𝐞 𝐩𝐫𝐨𝐩𝐮𝐥𝐬𝐢𝐨𝐧 𝐬𝐲𝐬𝐭𝐞𝐦?

The primary determinant influencing the design and execution of aviation or spacecraft missions is the propulsive force. This force, generated by the propulsion system, supplies the required power to propel rockets, aircraft, or other objects through air or space.

The space propulsion system encompasses various components, including valves, fuel tanks, propellant assembly, thrusters, pressure regulators, regulators, and manifold subsystems. Due to the diverse array of spacecraft and satellites in existence, various propulsion technologies are employed by different space agencies worldwide. Spacecraft propulsion and satellite propulsion are achieved utilizing either a rocket engine or integrated propulsion systems

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The market offers in-depth segmentation of the global space propulsion system market on the basis of type, class of orbit, end user, and region.

𝐓𝐡𝐞 𝐜𝐡𝐞𝐦𝐢𝐜𝐚𝐥 𝐩𝐫𝐨𝐩𝐮𝐥𝐬𝐢𝐨𝐧 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐝𝐨𝐦𝐢𝐧𝐚𝐭𝐞𝐝 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭

By type, the chemical propulsion segment held the lion’s share in 2021, accounting for nearly 90% of the global space propulsion system market, due to large usage of chemical propellants for launching satellites or other payloads into the space. However, the non-chemical propulsion segment is projected to portray the highest CAGR of 16.1% during the forecast period, due to increased use of non-chemical propulsion technologies in space propulsion systems.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 – https://www.alliedmarketresearch.com/space-propulsion-system-market/purchase-options

𝐓𝐡𝐞 𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐫𝐞𝐠𝐢𝐬𝐭𝐞𝐫 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐂𝐀𝐆𝐑 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝟐𝟎𝟑𝟏

By end user, the commercial segment is anticipated is estimated to register the highest CAGR of 14.6% from 2022 to 2031. Moreover, the segment held the lion’s share in 2021, contributing to more than three-fourths of the global space propulsion system market, due to rise in number of space programs to support commercial applications globally. The report analyzes the civil and earth observation and government and military segment as well.

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐡𝐞𝐥𝐝 𝐭𝐡𝐞 𝐥𝐢𝐨𝐧’𝐬 𝐬𝐡𝐚𝐫𝐞

By region, the market across North America held the largest share in 2021, accounting for more than half of the market, as U.S. launches thousands of satellites annually. However, the global space propulsion system market across Asia-Pacific is anticipated to register the highest CAGR of 17.0% during the forecast period, due to increase in space programs across various nations such as China, India, South Korea, and Japan.

𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐢𝐧𝐟𝐥𝐮𝐞𝐧𝐜𝐢𝐧𝐠 𝐭𝐡𝐞 𝐠𝐫𝐨𝐰𝐭𝐡 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭:

The propulsive force is the most important factor in the design and operation of aircraft or spacecraft missions. The propulsion system provides the propulsive force or power required to propel rocket, or other vehicle moving through air or space forward. Fuel tanks, valves, propellant assembly, pressure regulator, thrusters, manifold subsystems, and regulators are all part of the space propulsion system. Several distinct propulsion methods are utilized by several space organizations throughout the world due to the presence of a diverse spectrum of spacecraft and satellites. The usage of a rocket engine or integrated propulsion systems is used for spacecraft and satellite propulsion.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 – https://www.alliedmarketresearch.com/purchase-enquiry/A10443

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭:

The competitive analysis in the report highlights the leading market players in the global space propulsion system industry. The top players profiled in the report involve

Mitsubishi Heavy Industries Ltd.

Accion Systems

Moog Inc

Ariane Group

Northrop Grumman Corporation

Thales Group

Sierra Nevada Corporation

Vacco Industries

OHB SE

IHI Corporation.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐒𝐩𝐚𝐜𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

https://www.alliedmarketresearch.com/rocket-propulsion-market-A07161 – Rocket Propulsion Market : Global Opportunity Analysis and Industry Forecast, 2020–2030.

https://www.alliedmarketresearch.com/aircraft-propulsion-system-market-A06224 – Aircraft Propulsion System Market : Global Opportunity Analysis and Industry Forecast, 2020-2030.

https://www.alliedmarketresearch.com/rocket-hybrid-propulsion-market-A08614 – Rocket Hybrid Propulsion Market : Global Opportunity Analysis and Industry Forecast, 2020–2030.

https://www.alliedmarketresearch.com/rocket-liquid-propulsion-market-A08615 – Rocket Liquid Propulsion Market : Global Opportunity Analysis and Industry Forecast, 2020–2030.

https://www.alliedmarketresearch.com/autonomous-aircraft-propulsion-systems-market-A09221 – Autonomous Aircraft Propulsion Systems Market

David Correa
Allied Market Research
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