Global Space Propulsion System Market

1. Global Space Propulsion System Market Focus on Application, Type, and End-User - Analysis and Forecast, 2018-2023 February 2019

2. Global Space Propulsion System Market BIS Research is a leading market intelligence and technology research company. BIS Research publishes in-depth market intelligence reports focusing on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data and other important market parameters useful in the strategic decision making for senior management. BIS Research provides multi-client reports, company profiles, databases, and custom research services. Copyright © 2019 BIS Research All Rights Reserved. This document contains highly confidential information and is the sole property of BIS Research. Disclosing, copying, circulating, quoting or otherwise reproducing any or all contents of this document is strictly prohibited. Access to this information is provided exclusively for the benefit of the people or organization concerned. It may not be accessed by, or offered whether for sale or otherwise to any third party. All rights reserved at BIS Research 2

3. Global Space Propulsion System Market Preface Preface Global space propulsion system market is largely driven by launch vehicles and satellites, which are an important aspect of the global space industry. U.S., China, Japan, France, and Russia are some of the dominant countries which have developed propulsion systems across different applications. As the demand for satellites and launch vehicles is increasing predominantly, the global space propulsion system market is witnessing extensive research and development. This is consequently expected to create huge growth in the market in the coming years. The space propulsion system market research study offers a wide perspective on the analysis of the industry. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid, and unpaid databases), along with the analytical tools, that have been used to build the forecast and the predictive models. This study was designed to answer some of the most crucial aspects of the global space propulsion system market, which are as follows:  What is the global space propulsion system market size in terms of revenue ($Million) and volume (Unit) from 2018-2023?  Which end user is dominant in the space propulsion system market in the forecast period?  What is the revenue generated by the different applications in the space propulsion system market?  Which type of propulsion system occupied the highest share in the space propulsion system market?  What is the revenue generated by the different end users in the space propulsion system market?  How is the propulsion system development technology taking shape in the space propulsion system market? The report is a compilation of various segmentations, such as, market breakdown by end user, application, and type. While highlighting the key driving and restraining forces for this market, the report also provides a detailed study of the types of propulsion systems equipped in satellites and launch vehicles. The report is based on discussions and interviews with the top management of several leading space propulsion system manufacturers, Tier 1 suppliers, and component providers. All rights reserved at BIS Research 3

4. Global Space Propulsion System Market The space propulsion system market is not expected to play out the same way for every region or end user, so this report segments the market accordingly and breaks down the industry geographically as follows: North America (the U.S. and Canada), Europe (France, Germany, Russia, Italy, and Rest-of- Europe), Asia-Pacific (China, India, Japan, and Rest-of-APAC), Latin America, Middle East & Africa, and others. Each geographical region analysis details the individual push and pull forces in addition to the key players from that particular region. BIS Aerospace and Defense, February 2019 All rights reserved at BIS Research 4

5. Global Space Propulsion System Market T Table of able of C Contents ontents 1. Market Dynamics .................................................................................................. 30 Drivers .............................................................................................................. 31 1.1.1 Global Growth in Satellite Launches .................................................. 31 1.1.2 Increasing Research and Development Activities to Develop Cost Efficient Propulsion Technology ................................................ 32 1.1.3 Increasing Investments in Launch Vehicle Industry ......................... 33 1.2 Challenges ....................................................................................................... 34 1.2.1 High Cost Involved in the Development of Space Propulsion System ................................................................................................... 34 1.2.2 Regulation Pertaining to Space Propulsion System ......................... 36 1.3 Market Opportunities ...................................................................................... 37 1.3.1 Ongoing Developments for Nano Material based Space Propulsion System ............................................................................... 37 1.3.2 Propulsion System Manufactured through 3D Printing .................... 38 1.1 2. Competitive Insights ............................................................................................ 40 2.1 Key Market Strategies and Developments .................................................... 42 2.1.1 Partnerships, Collaborations, and Business Contracts .................... 43 2.1.2 Product Launches ................................................................................ 44 2.1.3 Mergers and Acquisitions .................................................................... 45 2.1.4 Other Developments ............................................................................ 46 2.2 Market Share Analysis .................................................................................... 46 3. Industry Analysis .................................................................................................. 49 3.1 3.2 3.3 3.4 3.5 Emerging Start-ups in Space Propulsion System Market ........................... 49 Cost Analysis for Space Propulsion System ................................................ 51 Patent Analysis ............................................................................................... 53 Supply Chain Analysis.................................................................................... 59 Industry Attractiveness .................................................................................. 61 3.5.1 Bargaining Power of Suppliers ........................................................... 62 3.5.2 Bargaining Power of Buyers ............................................................... 63 3.5.3 Threat of New Entrants ........................................................................ 65 All rights reserved at BIS Research 5

6. Global Space Propulsion System Market 3.5.4 3.5.5 Threat of Substitutes ............................................................................ 66 Intensity of Competitive Rivalry .......................................................... 66 4. Global Space Propulsion System Market, 2018-2023 ........................................ 69 4.1 4.2 Assumptions and Limitations ........................................................................ 69 Market Overview .............................................................................................. 69 5. Global Space Propulsion System Market (by Application) ............................... 71 5.1 5.2 5.3 Market Overview .............................................................................................. 71 Satellite ............................................................................................................ 73 Launch Vehicle ................................................................................................ 77 6. Global Space Propulsion System Market (by Type) .......................................... 81 6.1 6.2 Market Overview .............................................................................................. 81 Satellite ............................................................................................................ 84 6.2.1 Chemical Propulsion System .............................................................. 84 6.2.1.1 Monopropellant Chemical Propulsion System ........................................ 85 6.2.1.2 Bipropellant Chemical Propulsion System .............................................. 87 6.2.2 Electric Propulsion System ................................................................. 88 6.2.2.1 Ion Electric Propulsion System ............................................................... 90 6.2.2.2 Hall Effect Electric Propulsion System .................................................... 92 6.2.2.3 Pulsed Plasma Electric Propulsion System ............................................ 93 6.2.2.4 Other Electric Propulsion System ........................................................... 94 6.2.3 Hybrid Propulsion System ................................................................... 96 6.3 Launch Vehicle ................................................................................................ 97 6.3.1 Solid Propulsion System ..................................................................... 97 6.3.2 Liquid Propulsion System ................................................................... 99 6.3.3 Hybrid Propulsion System ................................................................. 102 7. Global Space Propulsion System Market (by End User) ................................. 105 7.1 7.2 7.3 Market Overview ............................................................................................ 105 Commercial .................................................................................................... 108 Government & Military .................................................................................. 112 8. Global Space Propulsion System Market (by Region) .................................... 115 All rights reserved at BIS Research 6

7. Global Space Propulsion System Market 8.1 8.2 Market Overview ............................................................................................ 115 North America ............................................................................................... 117 8.2.1 North America Space Propulsion System Market (by Application) ......................................................................................... 118 8.2.2 North America Space Propulsion System Market (by Country) ..... 121 8.2.2.1 The U.S. ............................................................................................... 121 8.2.2.2 Canada ................................................................................................. 122 8.3 Europe ............................................................................................................ 123 8.3.1 Europe Space Propulsion System Market (by Application) ............ 124 8.3.2 Europe Space Propulsion System Market (by Country) ................. 125 8.3.2.1 Russia .................................................................................................. 126 8.3.2.2 France .................................................................................................. 127 8.3.2.3 Germany ............................................................................................... 128 8.3.2.4 Italy ....................................................................................................... 129 8.3.2.5 Rest-of-Europe ..................................................................................... 130 8.4 Asia-Pacific .................................................................................................... 132 8.4.1 Asia-Pacific Space Propulsion System Market (by Application) .... 133 8.4.2 Asia-Pacific Space Propulsion System Market (by Country) ......... 134 8.4.2.1 China .................................................................................................... 134 8.4.2.2 India ...................................................................................................... 136 8.4.2.3 Japan .................................................................................................... 137 8.4.2.4 Rest-of-Asia-Pacific .............................................................................. 138 8.5 Rest-of-the-World (RoW) .............................................................................. 140 8.5.1 Rest-of-the-World (RoW) Space Propulsion System Market (by Application) ......................................................................................... 141 9. Futuristic Scenario for Space Propulsion System Market .............................. 143 9.1 Upcoming Technologies in Space Propulsion System Market ................. 143 9.1.1 Ongoing Advancements for Green Propulsion System and Reusable Propulsion System ............................................................ 149 9.2 Business Outlook for Miniaturized Propulsion System (Micro Propulsion System) ...................................................................................... 155 9.3 Opportunities around Deep Space Mission ................................................ 158 10. Company Profiles ............................................................................................... 163 All rights reserved at BIS Research 7

8. Global Space Propulsion System Market 10.1Accion Systems ............................................................................................ 164 10.1.1 Company Overview ............................................................................ 164 10.1.2 Product Portfolio ................................................................................ 165 10.1.3 Corporate Summary ........................................................................... 165 10.1.4 SWOT Analysis ................................................................................... 166 10.2Aerojet Rocketdyne ...................................................................................... 167 10.2.1 Company Overview ............................................................................ 167 10.2.2 Product Portfolio ................................................................................ 168 10.2.3 Financials ............................................................................................ 169 10.2.3.1Overall Financials ................................................................................. 169 10.2.3.2Financial Summary ............................................................................... 170 10.2.4 SWOT Analysis ................................................................................... 170 10.3Airbus S.A.S .................................................................................................. 171 10.3.1 Company Overview ............................................................................ 171 10.3.2 Product Portfolio ................................................................................ 172 10.3.3 Financials ............................................................................................ 173 10.3.3.1Overall Financials ................................................................................. 173 10.3.3.2Financial Summary ............................................................................... 174 10.3.4 SWOT Analysis ................................................................................... 175 10.4Ariane Group GmbH ..................................................................................... 176 10.4.1 Company Overview ............................................................................ 176 10.4.2 Product Portfolio ................................................................................ 177 10.4.3 Corporate Summary ........................................................................... 177 10.4.4 SWOT Analysis ................................................................................... 178 10.5Blue Origin ..................................................................................................... 179 10.5.1 Company Overview ............................................................................ 179 10.5.2 Product Portfolio ................................................................................ 180 10.5.3 Corporate Summary ........................................................................... 180 10.5.4 SWOT Analysis ................................................................................... 181 10.6IHI Corporation .............................................................................................. 182 10.6.1 Company Overview ............................................................................ 182 10.6.2 Product Portfolio ................................................................................ 183 10.6.3 Financials ............................................................................................ 184 All rights reserved at BIS Research 8

9. Global Space Propulsion System Market 10.6.3.1Overall Financials ................................................................................. 184 10.6.3.2Financial Summary ............................................................................... 185 10.6.4 SWOT Analysis ................................................................................... 186 10.7Lockheed Martin Corporation ...................................................................... 187 10.7.1 Company Overview ............................................................................ 187 10.7.2 Product Portfolio ................................................................................ 188 10.7.3 Financials ............................................................................................ 189 10.7.3.1Overall Financials ................................................................................. 189 10.7.3.2Financial Summary ............................................................................... 190 10.7.4 SWOT Analysis ................................................................................... 191 10.8Mitsubishi Heavy Industries Ltd. ................................................................. 192 10.8.1 Company Overview ............................................................................ 192 10.8.2 Product Portfolio ................................................................................ 193 10.8.3 Financials ............................................................................................ 194 10.8.3.1Overall Financials ................................................................................. 194 10.8.3.2Financial Summary ............................................................................... 196 10.8.4 SWOT Analysis ................................................................................... 197 10.9Moog Inc. ....................................................................................................... 198 10.9.1 Company Overview ............................................................................ 198 10.9.2 Product Portfolio ................................................................................ 199 10.9.3 Financials ............................................................................................ 199 10.9.3.1Overall Financials ................................................................................. 199 10.9.3.2Financial Summary ............................................................................... 201 10.9.4 SWOT Analysis ................................................................................... 202 10.10Northrop Grumman Corporation ................................................................. 203 10.10.1 Company Overview ............................................................................ 203 10.10.2 Product Portfolio ................................................................................ 204 10.10.3 Financials ............................................................................................ 206 10.10.3.1Overall Financials ................................................................................. 206 10.10.3.2Financial Summary ............................................................................... 207 10.10.4 SWOT Analysis ................................................................................... 208 10.11OHB System AG ............................................................................................ 209 10.11.1 Company Overview ............................................................................ 209 All rights reserved at BIS Research 9

10. Global Space Propulsion System Market 10.11.2 10.11.3 10.11.3.1Overall Financials ................................................................................. 211 10.11.3.2Financial Summary ............................................................................... 212 10.11.4 SWOT Analysis ................................................................................... 213 10.12Phase Four ..................................................................................................... 214 10.12.1 Company Overview ............................................................................ 214 10.12.2 Product Portfolio ................................................................................ 215 10.12.3 Corporate Summary ........................................................................... 215 10.12.4 SWOT Analysis ................................................................................... 216 10.13Safran ............................................................................................................. 217 10.13.1 Company Overview ............................................................................ 217 10.13.2 Product Portfolio ................................................................................ 218 10.13.3 Financials ............................................................................................ 219 10.13.3.1Overall Financials ................................................................................. 219 10.13.3.2Financial Summary ............................................................................... 220 10.13.4 SWOT Analysis ................................................................................... 221 10.14Space Exploration Technologies Corp. (SpaceX) ...................................... 222 10.14.1 Company Overview ............................................................................ 222 10.14.2 Product Portfolio ................................................................................ 223 10.14.3 Corporate Summary ........................................................................... 223 10.14.4 SWOT Analysis ................................................................................... 224 10.15Thales Group ................................................................................................. 225 10.15.1 Company Overview ............................................................................ 225 10.15.2 Product Portfolio ................................................................................ 226 10.15.3 Financials ............................................................................................ 227 10.15.3.1Overall Financials ................................................................................. 227 10.15.3.2Financial Summary ............................................................................... 228 10.15.4 SWOT Analysis ................................................................................... 229 Product Portfolio ................................................................................ 210 Financials ............................................................................................ 211 11. Research Scope & BIS Methodology ................................................................ 230 11.1Scope of the Report ...................................................................................... 230 11.2Global Space Propulsion System Market Research Methodology ........... 231 All rights reserved at BIS Research 10

11. Global Space Propulsion System Market 11.3Assumptions and Limitations ...................................................................... 235 12. Appendix ............................................................................................................. 236 12.1Related Reports ............................................................................................. 236 All rights reserved at BIS Research 11

12. Global Space Propulsion System Market List of Tables List of Tables Table 1.1: Space Propulsion System Market: Market Dynamics ........................................................ 30 Table 1.2: Type of Nano Material for Space Propulsion System ......................................................... 37 Table 1.3: Benefits and Challenges of 3D Printing .............................................................................. 38 Table 2.1 Some of the Organic and Inorganic Growth Strategies Adopted by the Key Players .......... 40 Table 3.1: Emerging Start-ups in Space Propulsion System Market ................................................... 49 Table 3.2: Patent Analysis: Geosat Propulsion System Architecture with Electric Apogee Motor ....... 54 Table 3.3: Patent Analysis: Rocket-Engine Propellant Delivery Systems ........................................... 55 Table 3.4: Patent Analysis: Electric Pump Conveying System for Solid-Liquid Rocket Engine ........... 56 Table 3.5: Patent Analysis: Thermoplastic-Aluminum Nanocomposite Based Hybrid Rocket Fuel Grain ............................................................................................................................................................ 57 Table 3.6: Patent Analysis: Maneuvering System for Earth Orbiting Satellites with Electric Thrusters 58 Table 5.1: Global Space Propulsion System Market (by Application), 2017-2023, ($Billion) ............... 72 Table 5.2: List of Propulsion Systems and their Advantages and Disadvantages in Satellites ............ 75 Table 6.1: Global Space Propulsion System Market (by Type), 2017-2023, ($Million) ....................... 83 Table 6.2: Types and Characteristics of Chemical Propulsion System ............................................... 86 Table 6.3: Types of Cold Gas Thrusters ............................................................................................. 86 Table 6.4: Types and Characteristics of Electric Propulsion system ................................................... 89 Table 6.5: Type and Characteristics of Cryogenic and Non-Cryogenic Propellants in Launch Vehicles .......................................................................................................................................................... 101 Table 6.6: Advantages of Hybrid Propulsion System over Solid and Liquid Propulsion System ....... 104 Table 7.1: Global Space Propulsion System Market (by End User), 2017-2023, ($Billion) ............... 106 Table 7.2: List of major GEO Satellite Contracts and Manufacturers ................................................ 110 Table 8.1: Global Space Propulsion System Market Size (by Region), $Billion, 2017-2023 ............ 116 Table 9.1: List of Green Propulsion Systems: ................................................................................... 150 Table 9.2: Propellants in Green Propulsion System .......................................................................... 150 Table 9.3: Developments in Reusable Propulsion System: .............................................................. 154 Table 9.4: Expected Launches of Small Satellite Constellations by 2023 ......................................... 157 Table 9.5: Details on Deep Space Missions since 2010 ................................................................... 159 Table 9.6: Details of Deep Space Missions in 2019 and 2020 .......................................................... 162 All rights reserved at BIS Research 12

13. Global Space Propulsion System Market List of List of Figures Figures Figure 1: Characteristics of the Space Propulsion System ................................................................. 23 Figure 2: Global Space Propulsion System Market Overview, 2017 and 2023 ................................... 24 Figure 3: Global Space Propulsion System Market (by Application), 2017-2023 ................................ 25 Figure 4: Global Space Propulsion System Market (by End User), 2017-2023 ................................... 26 Figure 5: Global Space Propulsion System Market (by Type), 2017-2023.......................................... 27 Figure 6: Global Space Propulsion System Market (by Region), 2017 ............................................... 28 Figure 1.1: Number of Satellites Launched from 2010-2018 ............................................................... 31 Figure 1.2: Rocket Launches from 2005 to 2018 ................................................................................ 33 Figure 1.3: Stages Involved in Research and Development Phase of an Engine: .............................. 35 Figure 2.1: Percentage Share of Strategies Adopted by the Market Players, January 2015-October 2018. Total Developments = 44 .......................................................................................................... 42 Figure 2.2 Partnerships, Agreements, and Contracts Adopted by Key Market Players, 2016-2018 ... 43 Figure 2.3 Product Launches by the Key Market Players, 2016-2018 ................................................ 44 Figure 2.4 Mergers and Acquisitions Adopted by the Key Market Players, 2017-2018 ....................... 45 Figure 2.5 Other Developments by the Key Market Players, 2016-2018 ............................................ 46 Figure 2.6: Global Satellite Propulsion System Market: Market Share Analysis, 2017 ........................ 47 Figure 2.7 Global Launch Vehicle Propulsion System Market: Market Share Analysis, 2017 ............. 48 Figure 3.1 Cost Analysis for a Satellite Propulsion System ................................................................. 52 Figure 3.2 Cost Analysis for a Launch Vehicle Propulsion System ..................................................... 53 Figure 3.3: Space Propulsion System: Supply Chain Analysis ........................................................... 59 Figure 3.4: Space Propulsion System: Porter’s Five Forces ............................................................... 61 Figure 3.5: Bargaining Power of Suppliers .......................................................................................... 63 Figure 3.6: Bargaining Power of Buyers ............................................................................................. 64 Figure 3.7: Threat of New Entrants ..................................................................................................... 66 Figure 3.8: Intensity of Competitive Rivalry ......................................................................................... 68 Figure 4.1: Global Space Propulsion System Market, 2017-2023 ....................................................... 70 Figure 5.1: Global Space Propulsion System Market (by Application) ................................................ 72 Figure 5.2: Global Space Propulsion System Market (by Application), 2017-2023, (Volume, Units) ... 73 Figure 5.3: Global Space Propulsion System Market (by Satellite), 2017-2023 .................................. 74 Figure 5.4: Global Satellite Propulsion System Market (by Sub-Category), 2017-2023 ...................... 76 All rights reserved at BIS Research 13

14. Global Space Propulsion System Market Figure 5.5: Global Launch Vehicle Propulsion System Market, 2017-2023 ........................................ 78 Figure 5.6: Global Launch Vehicle Propulsion System Market (by Subcategory), 2017-2023 ............ 79 Figure 6.1: Global Space Propulsion System Market (by Type), 2017-2023 ....................................... 82 Figure 6.2: Global Satellite Propulsion System Market (by Chemical Propulsion System), 2017-2023 ............................................................................................................................................................ 84 Figure 6.3: Global Chemical Propulsion System Market (by Monopropellant Chemical Propulsion System), 2017-2023 ........................................................................................................................... 85 Figure 6.4: Global Chemical Propulsion System Market (by Bipropellant Chemical Propulsion System), 2017-2023 .......................................................................................................................................... 87 Figure 6.5: Global Satellite Propulsion System Market (by Electric Propulsion System), 2017-2023 .. 90 Figure 6.6: Global Electric Propulsion System Market (by Ion Electric Propulsion System), 2017-2023 ............................................................................................................................................................ 91 Figure 6.7: Global Electric Propulsion System Market (by Hall Effect Electric Propulsion System), 2017- 2023 .................................................................................................................................................... 92 Figure 6.8: Global Electric Propulsion System Market (by Pulsed Plasma Electric Propulsion System), 2017-2023 .......................................................................................................................................... 94 Figure 6.9: Global Electric Propulsion System Market (by Other Electric Propulsion System), 2017-2023 ............................................................................................................................................................ 95 Figure 6.10: Global Satellite Propulsion System Market (by Hybrid Propulsion System), 2017-2023 . 96 Figure 6.11: Global Launch Vehicle Propulsion System Market (by Solid Propulsion System), 2017- 2023 .................................................................................................................................................... 98 Figure 6.12: Global Launch Vehicle Propulsion System Market (by Liquid Propulsion System), 2017- 2023 .................................................................................................................................................... 99 Figure 6.13: Global Liquid Propulsion System Market (by Subcategory), 2017-2023 ....................... 100 Figure 6.14: Global Launch Vehicle Propulsion System Market (by Hybrid Propulsion System), 2017- 2023 .................................................................................................................................................. 103 Figure 7.1: Global Space Propulsion System Market (by End User), 2017-2023 .............................. 106 Figure 7.2: Classification of Global Space Propulsion System Market (by End User) ....................... 107 Figure 7.3: Global Space Propulsion System Market (by Commercial), 2017-2023 ......................... 108 Figure 7.4: Global Commercial Space Propulsion System Market (by Application), 2017-2023 ....... 109 Figure 7.5: Global Space Propulsion System Market (by Government & Military End User), 2017-2023 .......................................................................................................................................................... 112 All rights reserved at BIS Research 14

15. Global Space Propulsion System Market Figure 7.6: Global Government & Military Space Propulsion System Market (by Application), 2017-2023 .......................................................................................................................................................... 113 Figure 8.1: Classification of Global Space Propulsion System Market (by Region) .......................... 116 Figure 8.2: Global Space Propulsion System Market (by Region), 2017 and 2023 .......................... 117 Figure 8.3: North America Space Propulsion System Market, 2017-2023 ........................................ 118 Figure 8.4: North America Space Propulsion System Market (by Application), 2017-2023 ............... 118 Figure 8.5: The U.S. Space Propulsion System Market, 2017-2023 ................................................. 121 Figure 8.6: Europe Space Propulsion System Market, 2017-2023 ................................................... 123 Figure 8.7: Europe Space Propulsion System Market (by Application), 2017-2023 .......................... 124 Figure 8.8: Russia Space Propulsion System Market, 2017-2023 .................................................... 126 Figure 8.9: France Space Propulsion System Market, 2017-2023 .................................................... 127 Figure 8.10: Germany Space Propulsion System Market, 2017-2023 .............................................. 128 Figure 8.11: Italy Space Propulsion System Market, 2017-2023 ...................................................... 130 Figure 8.12: Rest-of-Europe Space Propulsion System Market, 2017-2023 ..................................... 130 Figure 8.13: Asia-Pacific Space Propulsion System Market, 2017-2023 .......................................... 132 Figure 8.14: Asia-Pacific Space Propulsion System Market (by Application), 2017-2023 ................. 133 Figure 8.15: China Space Propulsion System Market, 2017-2023.................................................... 135 Figure 8.16: India Space Propulsion System Market, 2017-2023 ..................................................... 136 Figure 8.17: Japan Space Propulsion System Market, 2017-2023 ................................................... 137 Figure 8.18: Rest-of-Asia-Pacific Space Propulsion System Market, 2017-2023 .............................. 139 Figure 8.19: Rest-of-the-World (RoW) Space Propulsion System Market, 2017-2023 ..................... 140 Figure 8.20: Rest-of-the-World (RoW) Space Propulsion System Market (by Application), 2017-2023 .......................................................................................................................................................... 141 Figure 9.1: Leading Factors for Advancement in Space Propulsion System ..................................... 144 Figure 9.2: Space Propulsion Systems and Associated Technologies ............................................. 145 Figure 9.3: Technological Roadmap for Propulsion Systems, 2010-2035......................................... 147 Figure 9.4: Propulsion System Technology Curve in Satellites ......................................................... 148 Figure 9.5: Advantages and Disadvantages of ADN and HAN Technology ...................................... 151 Figure 9.6: Advantages and Disadvantages of Water Propulsion Technology.................................. 152 Figure 9.7: Advantages and Disadvantages of Hydrogen Peroxide Green Propulsion Technology .. 153 Figure 9.8: Global Small Satellite Market, 2017-2023 ....................................................................... 156 Figure 10.1: Share of Key Company Profiles .................................................................................... 163 All rights reserved at BIS Research 15

16. Global Space Propulsion System Market Figure 10.2: Accion Systems - Product Offerings ............................................................................. 165 Figure 10.3: Accion Systems - SWOT Analysis ................................................................................ 166 Figure 10.4: Aerojet Rocketdyne - Product Offerings ........................................................................ 168 Figure 10.5: Aerojet Rocketdyne – Overall Financials, 2015-2017 ................................................... 169 Figure 10.6: Aerojet Rocketdyne – Net Revenue (by Business Segment), 2015 - 2017 ................... 169 Figure 10.7: Aerojet Rocketdyne - SWOT Analysis .......................................................................... 170 Figure 10.8: Airbus S.A.S - Product Offerings ................................................................................... 172 Figure 10.9: Airbus S.A.S – Overall Financials, 2015-2017 .............................................................. 173 Figure 10.10: Airbus S.A.S – Net Revenue (by Business Segment), 2015 - 2017 ............................ 173 Figure 10.11: Airbus S.A.S – Net Revenue (by Region), 2015-2017 ................................................ 174 Figure 10.12: Airbus S.A.S - SWOT Analysis ................................................................................... 175 Figure 10.13: Ariane Group GmbH - Product Offerings .................................................................... 177 Figure 10.14: Ariane Group GmbH - SWOT Analysis ....................................................................... 178 Figure 10.15: Blue Origin - Product Offerings ................................................................................... 180 Figure 10.16: Blue Origin – Engine Propellant .................................................................................. 180 Figure 10.17: Blue Origin - SWOT Analysis ...................................................................................... 181 Figure 10.18: IHI Corporation - Product Offerings ............................................................................. 183 Figure 10.19: IHI Corporation – Overall Financials, 2015-2017 ........................................................ 184 Figure 10.20: IHI Corporation – Net Revenue (by Business Segment), 2015 - 2017 ........................ 184 Figure 10.21: IHI Corporation – Net Revenue (by Region), 2015-2017 ............................................ 185 Figure 10.22: IHI Corporation - SWOT Analysis ............................................................................... 186 Figure 10.23: Lockheed Martin Corporation - Product Offerings ....................................................... 188 Figure 10.24: Lockheed Martin Corporation – Overall Financials, 2015-2017 .................................. 189 Figure 10.25: Lockheed Martin Corporation – Net Revenue (by Business Segment), 2015 - 2017 .. 189 Figure 10.26: Lockheed Martin Corporation – Net Revenue (by Customers), 2015-2017................. 190 Figure 10.27: Lockheed Martin Corporation - SWOT Analysis.......................................................... 191 Figure 10.28: Mitsubishi Heavy Industries Ltd. - Product Offerings ................................................... 193 Figure 10.29: Mitsubishi Heavy Industries Ltd. – Overall Financials, 2015-2017 .............................. 194 Figure 10.30: Mitsubishi Heavy Industries Ltd. – Net Revenue (by Business Segment), 2016 and 2017 .......................................................................................................................................................... 194 Figure 10.31: Mitsubishi Heavy Industries Ltd. – Net Revenue (by Business Segment), 2015 ......... 195 Figure 10.32: Mitsubishi Heavy Industries Ltd. – Net Revenue (by Region), 2015-2017 .................. 195 All rights reserved at BIS Research 16

17. Global Space Propulsion System Market Figure 10.33: Mitsubishi Heavy Industries Ltd. - SWOT Analysis ..................................................... 197 Figure 10.34: Moog Inc. - Product Offerings ..................................................................................... 199 Figure 10.35: Moog Inc. – Overall Financials, 2016-2018 ................................................................. 199 Figure 10.36: Moog Inc. – Net Revenue (by Business Segment), 2016 - 2018 ................................ 200 Figure 10.37: Moog Inc. – Net Revenue (by Region), 2016-2018 ..................................................... 200 Figure 10.38: Moog Inc.- SWOT Analysis ......................................................................................... 202 Figure 10.39: Northrop Grumman Corporation - Product Offerings .................................................. 205 Figure 10.40: Northrop Grumman Corporation – Overall Financials, 2015-2017 .............................. 206 Figure 10.41: Northrop Grumman Corporation – Net Revenue (by Business Segment), 2015 - 2017 .......................................................................................................................................................... 206 Figure 10.42: Northrop Grumman Corporation – Net Revenue (by Region), 2015-2017 .................. 207 Figure 10.43: Northrop Grumman Corporation - SWOT Analysis ..................................................... 208 Figure 10.44: OHB System AG - Product Offerings .......................................................................... 210 Figure 10.45: OHB System AG – Overall Financials, 2015-2017 ...................................................... 211 Figure 10.46: OHB System AG – Net Revenue (by Business Segment), 2015 - 2017 ..................... 211 Figure 10.47: OHB System AG – Net Revenue (by Region), 2015-2017 .......................................... 212 Figure 10.48: OHB System AG - SWOT Analysis ............................................................................. 213 Figure 10.49: Phase Four - Product Offerings .................................................................................. 215 Figure 10.50: Phase Four - SWOT Analysis ..................................................................................... 216 Figure 10.51: Safran - Product Offerings .......................................................................................... 218 Figure 10.52: Safran – Overall Financials, 2015-2017 ...................................................................... 219 Figure 10.53: Safran – Net Revenue (by Business Segment), 2015 – 2017 ..................................... 219 Figure 10.54: Safran – Net Revenue (by Region), 2015-2017 .......................................................... 220 Figure 10.55: Safran - SWOT Analysis ............................................................................................. 221 Figure 10.56: SpaceX - Product Offerings ........................................................................................ 223 Figure 10.57: SpaceX - SWOT Analysis ........................................................................................... 224 Figure 10.58: Thales Group- Product Offerings ................................................................................ 226 Figure 10.59: Thales Group – Overall Financials, 2015-2017 ........................................................... 227 Figure 10.60: Thales Group – Net Revenue (by Business Segment), 2015 - 2017 .......................... 227 Figure 10.61: Thales Group – Net Revenue (by Region), 2015-2017 ............................................... 228 Figure 10.62: Thales Group - SWOT Analysis .................................................................................. 229 Figure 11.1: Global Space Propulsion System Market Segmentation ............................................... 230 All rights reserved at BIS Research 17

18. Global Space Propulsion System Market Figure 11.2: Secondary Data Sources .............................................................................................. 232 Figure 11.3: Top Down and Bottom Up Approach ............................................................................ 233 Figure 11.4: Space Propulsion System Market Influencing Factors .................................................. 234 Figure 11.5: Assumptions and Limitations ........................................................................................ 235 All rights reserved at BIS Research 18

19. Global Space Propulsion System Market List of List of A Acronyms cronyms Acronyms Descriptions AEPS Advanced Electric Propulsion System AFRL Air Force Research Laboratory European Space Agency’s Advanced Research in Telecommunications Systems ARTES CALT China Academy of Launch Vehicle Technology CHEOPS Consortium For Hall Effect Orbital Propulsion System DARPA Defense Advanced Research Projects Agency DoD U.S. Department of Defense EAR Export Administration Regulations EPIC Electric Propulsion Innovation & Competitiveness EPSS Propulsion System for Small Satellites EPSS Enabling Propulsion for Small Satellites ESA European Space Agency FAA Federal Aviation Administration GENSO Global Educational Network for Satellite Operations GPIMREL Green Propellant Infusion MissionReaction Engines Limited HPGP High Performance Green Propellant ILS International Launch Services IoT Internet of Things Isp specific impulse ISRO Indian Space Research Organization All rights reserved at BIS Research 19

20. Global Space Propulsion System Market ISRO Indian Space Research Organization ITAR International Traffic in Arms Regulations JAXA Japan Aerospace Exploration Agency KeRC Keldysh Research Centre LEO Low Earth Orbit LNG Liquid Natural Gas MMH monomethylhydrazine MON oxides of nitrogen MoU Memorandum of Understanding N2H4 Hydrazine NASA National Aeronautics and Space Administration OFACBN boron nitride Department of the Treasury’s Office of Foreign Assets Control PIFAM Additive manufacturing Public Investment Fund PPU Power Processing Unit PSLV Polar Satellite Launch Vehicle R&D Research and Development REL Reaction Engines Limited RLV Reusable Launch Vehicles Andalusian Foundation for Aerospace Development Small Air Launch Vehicle to Orbit SALVOFADA SBIGEELV Evolved Expendable Launch Vehicle Iran’s Shahid Bakeri Industrial Group SLV Small Launch Vehicle SLVs small launch vehicles All rights reserved at BIS Research 20

21. Global Space Propulsion System Market SSLVMET Microwave Electro-thermal Thrusters Small Satellite Launch Vehicle SSOTILE Tiled Ionic Liquid Electrospray Sun Synchronous Orbit Small Spacecraft Prototyping Engineering Development and Integration – Space Solutions SSPEDI STDP Space Technology Development Program STPACE Apollo Constellation Engine Space Test Program STTR Small Business Technology Transfer ULA United Launch Alliance UM Unitary Motor USDAAND Ammonium Dinitramide United States Department of Agriculture USML States Munitions List ZEpHyR ZARM Experimental Hybrid Rocket All rights reserved at BIS Research 21

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