LEO-focused Satellite Propulsion Technology Market - A Global and Regional Analysis: Focus on End User, Application, Propulsion Type, Satellite Mass, Component, Orbit, Propellant Type and Country - Analysis and Forecast, 2021-2031

Report Highlights

Global LEO-focused Satellite Propulsion Technology Market is Expected to Reach $13,212.7 Million by 2031

Market Report Coverage - LEO-focused Satellite Propulsion Technology

Market Segmentation

• End User: Defense and Government and Commercial
• Application: Communication, Earth Observation and Remote Sensing, Technology Development, and Others
• Propulsion Type: Electric, Chemical, and Hybrid
• Satellite Mass: 0-10kg, 11-200kg, 201-600kg, and 601-1200kg
• Component: Thrusters, Propellant Tanks, Valves, Pumps and Regulators, Power Processing Unit, Propulsion Thermal Control, and Others
• Orbit: LEO (Sun-Synchronous Orbit), LEO (Polar Orbit), and LEO (Non-Polar Inclined)
• Propellant Type: Xenon, Krypton, and Others

Regional Segmentation

• North America: U.S. and Canada
• Europe: Germany, Russia, U.K., and Rest-of-Europe
• Asia-Pacific: China, Japan, India, Australia, and Rest-of-Asia-Pacific
• Rest-of-the-World: Middle East and Africa, Latin America

Market Growth Drivers

• Rising Demand for Smaller Telecom and Commercial Earth Observation Satellites in Low Earth Orbit (LEO)
• Technology Advancement Toward Building Low-Cost and Efficient Propulsion System for Satellites

Market Challenges

• Growing Concern on Risk Posed by Orbital Space Debris from Use of Satellite Mega Constellations

Market Opportunities

• Move Toward Creating Viable Business Activities from Non-Toxic or Green (Environment Friendly) Space Propellants

Key Companies Profiled

Airbus S.A.S, Ariane Group, Aerojet Rocketdyne (Acquired by Lockheed Martin Corp.), Busek Co Inc., CU Aerospace, IHI Corporation, Lockheed Martin Corporation, L3Harris Technologies, Inc., Moog Inc., Nano Avionics, Northrop Grumman Corporation, OHB SE, Safran, Space Exploration Technologies Corp. (SpaceX), Thales Group

How This Report Can Add Value

Product / Innovation Strategy: The product segment helps the reader in understanding the different types of LEO-focused satellite propulsions and their market potentials globally. Moreover, the study provides the reader a detailed understanding of LEO-focused satellite propulsion technology with respect to propulsion type (electric, chemical, hybrid), satellite mass (0-10kg, 11-200kg, 201-600kg, 601-1,200kg), component (thrusters, propellant tanks, valve, pumps and regulators, power processing unit, propulsion thermal control and others), orbit (sun-synchronous, polar, and non-polar inclined), propellant type (xenon, krypton, others). Additionally, comprehensive coverage of end users and applications has also been added to the study.

Key Questions Answered in the Report

• What are the futuristic trends in this market, and how is the market expected to change over the forecast years, 2021-2031?
• What are the key drivers and challenges faced by the companies currently working in the global LEO-focused satellite propulsion technology market?
• How is the LEO-focused satellite propulsion technology market expected to grow during the forecast period 2021-2031?
• What are the opportunities for the companies to expand their businesses in the global LEO-focused satellite propulsion technology market?
• Which region is expected to lead the global LEO-focused satellite propulsion technology market by 2031?
• What are the key developmental strategies implemented by the key players to sustain in this highly competitive market?
• What is the current and future revenue scenario of this market?
• What is the competitive scenario of the key players in the global LEO-focused satellite propulsion technology market?
• What are the emerging technologies that the key companies are focusing on to increase their market share?
• What are the strengths and weaknesses of the companies that are influencing the growth of the market?

LEO-Focused Satellite Propulsion Technology Market

Between 1957 and 2021, many governments and commercial organizations such as SpaceX, Ariane Space, Europe Space Agency (ESA), National Aeronautics and Space Administration (NASA), and Japan Aerospace Exploration Agency (JAXA), among others, started demonstration for new propulsion system for different satellites in low Earth orbit (LEO). Since then, technology has evolved continually and transformed the entire space industry by developing unique products and systems.

LEO-Focused Satellite Propulsion Technology Industry Overview

Currently, many space agencies and commercial companies across the globe have been focusing on developing low Earth orbit (LEO) satellite constellations. This will drive the market for the propulsion system. Moreover, rising research and development activities to develop cost-efficient propulsion technologies and advancements in 3D printing technology for developing the components of satellite propulsion systems are other factors contributing to the growth of the LEO-focused satellite propulsion technology market. For instance, in April 2021, Phase Four signed a contract with the U.S. Air Force to test alternative fuel on its Maxwell electric thruster. The company received $750,000 from the U.S. Air Force under Small Business Innovation Research (SBIR) award. This would likely penetrate the niche markets and generate significant revenues in the future.

The global LEO-focused satellite propulsion technology market is expected to reach $13,212.7 million by 2031, with a CAGR of 6.98% during the forecast period 2021- 2031. The increasing number of satellite constellations for applications such as communication, technology development, Earth observation, and remote sensing is expected to be the major driving factors for the market. In addition, increasing demand for building efficient propulsion systems s at low cost are key drivers for the growth of the global LEO-focused satellite propulsion technology market.