Space Propulsion Market Overview by Industry, Share, Trend & Forecast (2021-2026)

1. Space Propulsion Market Overview by Industry, Share, Trend & Forecast (2021- 2026) According to the latest research report "Space Propulsion Marketby Type (Chemical Propulsion, Non-Chemical Propulsion), System Component (Thrusters, Propellant Feed System, Nozzle), Platform (Satellite, Launch Vehicle), Orbit, End User, Orbit, Support Service, Region - Global Forecast to 2026" published by MarketsandMarkets, the spacepropulsionmarketisprojectedtogrowfromUSD8.3billionin2021toUSD 22.5 billion by 2026, at a CAGR of 22.1% from 2021 to 2026. Developed economies of North America and Europe are currently the leaders in the market, considering the strong presence of OEMs in these regions, while emerging economies, especially those from the Asia Pacific region,are projected to be the upcoming major markets for space propulsion systems. Conventionally, access to space has been extremely costly. But prices continue to fall with each passing decade as new technologies are created and the sector becomes more commercialized. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=118742255 Key MarketPlayers Key players operating in space propulsion market are Safran (France), Aerojet Rocketdyne Holdings, Inc. (US), IHI Corporation (Japan), Space Exploration Technologies Corp. (SpaceX) (US), and Northrop Grumman Corporation (US). Long-term market drivers for space propulsion remain strong, and, before the COVID- 19 pandemic, the market had started to show signs of recovery from the major market price reset. Governments and businesses involved with space are reacting differently to the new situation. Some launches are moving forward, while some are not; some tests continue, and some are delayed; some companies still operate, and others have shuttered. Rockets continue to be launched; however, many launch providers are pushing future launches back. Rocket Lab, for example, has suspended launches for the time being. Consumer broadband saw growth in North America following the pandemic,withexistingsubscribersshiftingtohigher-valueplansandoverallgrowth

2. in the subscriber base. Nonetheless, temporary supply chain issues have caused delays in new project rollouts in most market segments. Despite the short-term headwinds caused by the pandemic, underlying market drivers are expected to prevail, enabling long-term growth. “The space propulsion market for thrusters segment is projected to havethe highest market share based on systemcomponent” By system component, the thrusters segment is projected to lead the space propulsion market during the forecast period. Thrusters are extensively used for maneuvering and orbit control ofsatellites. “Thespacepropulsionmarketfornon-chemicalpropulsionsegmentisprojected to have the highest market share based on propulsiontype” By propulsion type, the non-chemical propulsion segment is projected to lead the space propulsion market during the forecast period. The demand for low-cost and reusable space propulsion systems is fueling the growth of the non-chemical propulsionsegment. “The space propulsion market for LEO (Low earth Orbit) segment is projected to have the highest market share and highest CAGR based onorbit” By orbit, the LEO (Low earth Orbit) segment is projected to lead the space propulsion market during the forecast period. The rising demand for communications and earth observation satellites fueling the growth of the Low Earth Orbit (LEO)segment. “Thespacepropulsionmarketforsatellitessegmentisprojectedtohavethe highest CAGR based onplatform” By platform, the satellites segment is projected to lead the space propulsion market and have the highest CAGR during the forecast period due to the increasing small satellite launches for commercial and government applications and the adoption of advanced technology in small satellites andCubeSats. “The space propulsion market for Government & Defense segment is projectedto have the highest market share based on enduse” Based on end use segment, Government & Defense sub-segment would have the highest market share during the forecast period. The growth of this segment can be attributed to the increasing number of space exploration missions and the rising budgets for spaceexploration. “North America is expected to hold the highest market share in2021.” North America is projected to hold the largest share of the space propulsion market during the forecast period. This is owing to the ever-rising small satellite launchesand

3. the entry of private players like SpaceX, which have boosted the space industry in recenttimes. Ask for Sample Report@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=118742255 AboutMarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Mr. Aashish Mehra MarketsandMarkets™INC. 630 DundeeRoad Suite 430 Northbrook, IL60062 USA:1-888-600-6441