Satellite Propulsion System Market Size By System Type (Bipropellant, Monopropellant, Pneumatic/ Hybrid Systems and Others), By Application (Applications Satellite, Science Satellite and Technology Experiment Satellite), By Propulsion Type, By Geographic Scope And Forecast
Satellite Propulsion System Market Size And Forecast
Satellite Propulsion System Market was valued at USD 1,817.0 Million in 2019 and is projected to reach USD 3,181.2 Million by 2027, growing at a CAGR of 6.36% from 2020 to 2027.
Global Satellite Propulsion System Market Overview
The space exploration business has changed substantially in the last fifteen years, with space startups and private companies joining governments to create and launch satellites and other spacecraft with the launch vehicles. The demand for the propulsion systems in space has therefore increased. Driven by initiatives in leading countries and new countries investing in space exploration, global investment has increased in the last few years.
Global space exploration budgets are expected to grow to over $20 billion by 2027 in a still restrained budgetary environment. Space exploration draws interest not only from a rising number of governments but also from the private sector; start-ups to large businesses are trying to explore the economic potential of exploration activities. Space agencies are constantly looking to exploit private sector collaborations to achieve their objectives more cost-effectively while promoting sustainable space exploration, this growth of space expeditions and commercial use of satellites are driving the growth of the market.
Global Satellite Propulsion System Market: Segmentation Analysis
The Global Satellite Propulsion System Market is segmented on the basis of System Type, Application, Propulsion Type and geography.
Global Satellite Propulsion System Market Competitive Landscape
The Global Satellite Propulsion System Market study report will provide valuable insight with an emphasis on the global market including some of the major players such as Moog Inc., ENPULSION GmbH, Exotrail SA, Aerojet Rocketdyne, Airbus SE, BALL CORPORATION, Bellatrix Aerospace Private Limited, Busek Co. Inc., and Cobham PLC.
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