How big is the Electric Propulsion Systems Market?

The Electric Propulsion Systems Market size is expected to reach USD 10.94 billion in 2024 and grow at a CAGR of 6.09% to reach USD 15.66 billion by 2029. Read More

What is the current Electric Propulsion Systems Market size?

In 2024, the Electric Propulsion Systems Market size is expected to reach USD 10.94 billion. Read More

Who are the key players in Electric Propulsion Systems Market?

Sitael S.p.A., Busek Co. Inc., Safran SA, Thales Alenia Space and General Electric Company are the major companies operating in the Electric Propulsion Systems Market. Read More

Which is the fastest growing region in Electric Propulsion Systems Market?

Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Electric Propulsion Systems Market?

In 2024, the North America accounts for the largest market share in Electric Propulsion Systems Market. Read More

What years does this Electric Propulsion Systems Market cover, and what was the market size in 2023?

In 2023, the Electric Propulsion Systems Market size was estimated at USD 10.27 billion. The report covers the Electric Propulsion Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Electric Propulsion Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Electric Propulsion Systems Market

Electric Propulsion Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Electric Propulsion System Market is Segmented by Type (Hybrid and Full-Electric), Application (Airborne, Terrestrial, Marine, and Space), and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa). The Report Offers Market Size and Forecast for all the Above Segments in Value (USD).

Electric Propulsion Systems Industry Overview

The electric propulsion systems market is fragmented in nature. SITAEL SpA., Busek Co. Inc., General Electric Company, Thales Alenia Space, and Safran SA are some of the prominent market players. These companies mainly design, manufacture, and integrate complete electric propulsion systems for all application platforms.

The market studied is highly competitive and is still evolving. Hence, long-term collaborations are preferred in the whole supply chain to gain a competitive advantage and effectively conduct extensive R&D to develop sophisticated systems based on the MEA architecture. This threatens new market entrants for participating in commercial and military aircraft programs. Volkswagen, Toyota, and Volvo were estimated to be the most prominent players in the land sector for automobiles. In contrast, Chinese players are evaluated to account for a larger market share in the forecast period.