Europe Space Propulsion Market Size
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 8.91 Billion |
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Market Size (2029) | USD 14.69 Billion |
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Largest Share by Propulsion Tech | Liquid Fuel |
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CAGR (2024 - 2029) | 10.52 % |
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Largest Share by Country | Russia |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Europe Space Propulsion Market Analysis
The Europe Space Propulsion Market size is estimated at USD 8.91 billion in 2024, and is expected to reach USD 14.69 billion by 2029, growing at a CAGR of 10.52% during the forecast period (2024-2029).
8.91 Billion
Market Size in 2024 (USD)
14.69 Billion
Market Size in 2029 (USD)
3.34 %
CAGR (2017-2023)
10.52 %
CAGR (2024-2029)
Largest Market by Propulsion Tech
73.93 %
value share, Liquid Fuel, 2022
Because of its high efficiency, controllability, reliability, and long lifespan, liquid fuel-based propulsion technology is becoming an ideal choice for space missions. It can be used in various orbit classes for satellites.
Fastest-Growing Market by Propulsion Tech
14.50 %
Projected CAGR, Gas based, 2023-2029
In this region, the adoption of gas based propulsion systems registers a considerable growth rate because of it's cost-effectiveness and reliability. These propulsion systems are also easy for orbital maintenance, maneuvering and attitude control.
Leading Market Player
63.72 %
market share, Ariane Group, 2022
Ariane Group is the largest player in the market. The company is one of the major contractors of space propulsion systems in the region for different space agencies.
Second Leading Market Player
9.71 %
market share, Avio, 2022
Avio is the second-leading company in the market. It offers propulsion solutions for launching institutional, governmental, and commercial payloads.
Third Leading Market Player
4.32 %
market share, Moog Inc., 2022
Moog Inc. is the third-largest player in the market. The company has focused on innovation and is currently working on a water-powered satellite propulsion system.
The utilization of gas-based propulsion is expected to surge during the forecast period
- In the European space propulsion market, gas-based propulsion systems continue to be widely used for small to medium-sized satellites, where simplicity, reliability, and quick response times are crucial. They are widely utilized in various satellite missions, including telecommunications, Earth observation, and scientific research.
- Electric propulsion systems have gained prominence in the European satellite market due to their fuel efficiency and extended operational lifespan. This technology provides higher specific impulses, enabling satellites to carry more payload while utilizing less propellant. In addition, electric propulsion systems offer the capability for long-duration missions and precise orbital maneuvers. They are well-suited for geostationary satellites, deep space missions, and satellite constellations for global coverage.
- Liquid propulsion systems, predominantly based on bipropellants like hydrazine and nitrogen tetroxide, have been widely employed in European satellites for primary propulsion and large orbital maneuvers. Liquid propulsion systems offer the flexibility to perform complex orbital transfers and rendezvous maneuvers. However, they require careful handling of toxic and corrosive propellants and necessitate a higher propellant mass compared to electric or gas-based systems. Between 2023 and 2029, the market is expected to surge by 81%, and gas-based propulsion is expected to dominate the market.
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The product innovation in propulsion technology is expected to boost the growth
- Space propulsion is a method used to accelerate spacecraft or artificial satellites. The current space propulsion system includes two main solutions. Uses of an electric motor (EP) accelerates the ionized propellant, and chemical repulsion (CP) uses the propeller itself as the power source for thrust force.
- The space manufacturing industry is a niche sector, accounting for EUR 7.25 billion in final revenue and creating 38,000 highly qualified jobs. Despite its small size, the space sector enables a wide range of services and applications and is highly strategic for governments and businesses in the region.
- ESA's Future Space Transport Program identifies key launch system technologies to address the challenges and deliver solutions through technology-ready maturity for propulsion systems. Key technologies are designed at both the component and subsystem levels before being integrated into the propulsion demonstration engine and tested in the right environment. Due to the presence of many governmental, commercial, and other players in the region, demand in the satellite manufacturing industry witnessed positive growth. Based on this, during 2017-2022, more than 570 satellites were launched in the area. Of the more than 570 satellites produced and launched, nearly 90% are for commercial use.
Europe Space Propulsion Market Trends
Investment opportunities in the European space propulsion market is driving the demand
- European countries are recognizing the importance of various investments in the space domain. They are increasing their spending on space programs and innovation to stay competitive and innovative in the global space industry. In November 2022, ESA announced that it had proposed a 25% boost in space funding over the next three years designed to maintain Europe's lead in Earth observation, expand navigation services and remain a partner in exploration with the United States. The ESA has asked its 22 nations to support a budget of EUR 18.5 billion from 2023 to 2025. Likewise, in September 2022, the French government announced that it plans to allocate more than USD 9 billion to space activities, an increase of about 25% over the past three years.
- In November 2022, Germany announced that about EUR 2.37 billion were allocated for various space-related activities. In April 2023, Dawn Aerospace was awarded a contract to conduct a feasibility study with DLR (German Aerospace Center) to increase the performance of a nitrous-oxide-based green propellant for satellites and deep-space missions. In December 2022, the UK Space Agency announced EUR 2.7 million for 13 early-stage technology projects. European Astrotech received EUR 54,000 for a propellant loading cart (GSE) to service satellites with electric propulsion systems using xenon or krypton. SmallSpark Space Systems received EUR 76,000 for the development and maturation of SmallSpark’s dual-firing mode propulsion system, the S4-NEWT-A2, which will form part of the architecture of its S4-SLV in-space logistics vehicle and as a candidate system for upper-stage launch vehicles.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Investment opportunities in the European space propulsion market is driving the demand
Europe Space Propulsion Industry Overview
The Europe Space Propulsion Market is fairly consolidated, with the top five companies occupying 77.76%. The major players in this market are Ariane Group, Avio, Honeywell International Inc., Moog Inc. and Safran SA (sorted alphabetically).
Europe Space Propulsion Market Leaders
Ariane Group
Avio
Honeywell International Inc.
Moog Inc.
Safran SA
Other important companies include OHB SE, Sitael S.p.A., Space Exploration Technologies Corp., Thales.
*Disclaimer: Major Players sorted in alphabetical order.
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Europe Space Propulsion Market News
- February 2023: Thales Alenia Space has contracted with the Korea Aerospace Research Institute (KARI) to provide the integrated electric propulsion on their GEO-KOMPSAT-3 (GK3) satellite.
- December 2022: GKN Aerospace has contracted with ArianeGroup to supply the next stage of the Ariane 6 turbine and Vulcain nozzle. The contract covers the manufacturing and supply of units for the following 14 Ariane 6 launchers, which will go into production by 2025. GKN Aerospace is currently focused on industrializing and integrating novel and innovative technologies into the Ariane 6 product.
- September 2022: OHB Sweden, a subsidiary of space group OHB SE, and Atlantis, a Spanish space technology company, have signed a contract to jointly supply two microsatellites based on OHB Sweden's InnoSat platformThe satellites will carry four optical channels provided by Satlantis and will be launched in 2024.
Free with this Report
We offer a comprehensive set of global and local metrics that illustrate the fundamentals of the satellites industry. Clients can access in-depth market analysis of various satellites and launch vehicles through granular level segmental information supported by a repository of market data, trends, and expert analysis. Data and analysis on satellite launches, satellite mass, application of satellites, spending on space programs, propulsion systems, end users, etc., are available in the form of comprehensive reports as well as excel based data worksheets.
Europe Space Propulsion Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
- 4.1 Spending On Space Programs
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4.2 Regulatory Framework
- 4.2.1 France
- 4.2.2 Germany
- 4.2.3 Russia
- 4.2.4 United Kingdom
- 4.3 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)
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5.1 Propulsion Tech
- 5.1.1 Electric
- 5.1.2 Gas based
- 5.1.3 Liquid Fuel
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5.2 Country
- 5.2.1 France
- 5.2.2 Germany
- 5.2.3 Russia
- 5.2.4 United Kingdom
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
- 6.4.1 Ariane Group
- 6.4.2 Avio
- 6.4.3 Honeywell International Inc.
- 6.4.4 Moog Inc.
- 6.4.5 OHB SE
- 6.4.6 Safran SA
- 6.4.7 Sitael S.p.A.
- 6.4.8 Space Exploration Technologies Corp.
- 6.4.9 Thales
7. KEY STRATEGIC QUESTIONS FOR SATELLITE CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter's Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- SPENDING ON SPACE PROGRAMS BY REGION, USD, EUROPE, 2017 - 2022
- Figure 2:
- EUROPE SPACE PROPULSION MARKET, VALUE, USD, 2017 - 2029
- Figure 3:
- VALUE OF SPACE PROPULSION MARKET BY PROPULSION TECH, USD, EUROPE, 2017 - 2029
- Figure 4:
- VALUE SHARE OF SPACE PROPULSION MARKET BY PROPULSION TECH, %, EUROPE, 2017 VS 2023 VS 2029
- Figure 5:
- VALUE OF ELECTRIC MARKET, USD, EUROPE, 2017 - 2029
- Figure 6:
- VALUE OF GAS BASED MARKET, USD, EUROPE, 2017 - 2029
- Figure 7:
- VALUE OF LIQUID FUEL MARKET, USD, EUROPE, 2017 - 2029
- Figure 8:
- VALUE OF SPACE PROPULSION MARKET BY COUNTRY, USD, EUROPE, 2017 - 2029
- Figure 9:
- VALUE SHARE OF SPACE PROPULSION MARKET BY COUNTRY, %, EUROPE, 2017 VS 2023 VS 2029
- Figure 10:
- VALUE OF SPACE PROPULSION MARKET, USD, FRANCE, 2017 - 2029
- Figure 11:
- VALUE OF SPACE PROPULSION MARKET, USD, GERMANY, 2017 - 2029
- Figure 12:
- VALUE OF SPACE PROPULSION MARKET, USD, RUSSIA, 2017 - 2029
- Figure 13:
- VALUE OF SPACE PROPULSION MARKET, USD, UNITED KINGDOM, 2017 - 2029
- Figure 14:
- NUMBER OF STRATEGIC MOVES OF MOST ACTIVE COMPANIES, EUROPE SPACE PROPULSION MARKET, EUROPE, 2017 - 2029
- Figure 15:
- TOTAL NUMBER OF STRATEGIC MOVES OF COMPANIES, EUROPE SPACE PROPULSION MARKET, EUROPE, 2017 - 2029
- Figure 16:
- MARKET SHARE OF EUROPE SPACE PROPULSION MARKET, %, EUROPE, 2022
Europe Space Propulsion Industry Segmentation
Electric, Gas based, Liquid Fuel are covered as segments by Propulsion Tech. France, Germany, Russia, United Kingdom are covered as segments by Country.
- In the European space propulsion market, gas-based propulsion systems continue to be widely used for small to medium-sized satellites, where simplicity, reliability, and quick response times are crucial. They are widely utilized in various satellite missions, including telecommunications, Earth observation, and scientific research.
- Electric propulsion systems have gained prominence in the European satellite market due to their fuel efficiency and extended operational lifespan. This technology provides higher specific impulses, enabling satellites to carry more payload while utilizing less propellant. In addition, electric propulsion systems offer the capability for long-duration missions and precise orbital maneuvers. They are well-suited for geostationary satellites, deep space missions, and satellite constellations for global coverage.
- Liquid propulsion systems, predominantly based on bipropellants like hydrazine and nitrogen tetroxide, have been widely employed in European satellites for primary propulsion and large orbital maneuvers. Liquid propulsion systems offer the flexibility to perform complex orbital transfers and rendezvous maneuvers. However, they require careful handling of toxic and corrosive propellants and necessitate a higher propellant mass compared to electric or gas-based systems. Between 2023 and 2029, the market is expected to surge by 81%, and gas-based propulsion is expected to dominate the market.
| Propulsion Tech | Electric |
| Gas based | |
| Liquid Fuel | |
| Country | France |
| Germany | |
| Russia | |
| United Kingdom |
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Market Definition
- Application - Various applications or purposes of the satellites are classified into communication, earth observation, space observation, navigation, and others. The purposes listed are those self-reported by the satellite’s operator.
- End User - The primary users or end users of the satellite is described as civil (academic, amateur), commercial, government (meteorological, scientific, etc.), military. Satellites can be multi-use, for both commercial and military applications.
- Launch Vehicle MTOW - The launch vehicle MTOW (maximum take-off weight) means the maximum weight of the launch vehicle during take-off, including the weight of payload, equipment and fuel.
- Orbit Class - The satellite orbits are divided into three broad classes namely GEO, LEO, and MEO. Satellites in elliptical orbits have apogees and perigees that differ significantly from each other and categorized satellite orbits with eccentricity 0.14 and higher as elliptical.
- Propulsion tech - Under this segment, different types of satellite propulsion systems have been classified as electric, liquid-fuel and gas-based propulsion systems.
- Satellite Mass - Under this segment, different types of satellite propulsion systems have been classified as electric, liquid-fuel and gas-based propulsion systems.
- Satellite Subsystem - All the components and subsystems which includes propellants, buses, solar panels, other hardware of satellites are included under this segment.
| Keyword | Definition |
|---|---|
| Attitude Control | The orientation of the satellite relative to the Earth and the sun. |
| INTELSAT | The International Telecommunications Satellite Organization operates a network of satellites for international transmission. |
| Geostationary Earth Orbit (GEO) | Geostationary satellites in Earth orbit 35,786 km (22,282 mi) above the equator in the same direction and at the same speed as the earth rotates on its axis, making them appear fixed in the sky. |
| Low Earth Orbit (LEO) | Low Earth Orbit satellites orbit from 160-2000km above the earth, take approximately 1.5 hours for a full orbit and only cover a portion of the earth’s surface. |
| Medium Earth Orbit (MEO) | MEO satellites are located above LEO and below GEO satellites and typically travel in an elliptical orbit over the North and South Pole or in an equatorial orbit. |
| Very Small Aperture Terminal (VSAT) | Very Small Aperture Terminal is an antenna that is typically less than 3 meters in diameter |
| CubeSat | CubeSat is a class of miniature satellites based on a form factor consisting of 10 cm cubes. CubeSats weigh no more than 2 kg per unit and typically use commercially available components for their construction and electronics. |
| Small Satellite Launch Vehicles (SSLVs) | Small Satellite Launch Vehicle (SSLV) is a three-stage Launch Vehicle configured with three Solid Propulsion Stages and a liquid propulsion-based Velocity Trimming Module (VTM) as a terminal stage |
| Space Mining | Asteroid mining is the hypothesis of extracting material from asteroids and other asteroids, including near-Earth objects. |
| Nano Satellites | Nanosatellites are loosely defined as any satellite weighing less than 10 kilograms. |
| Automatic Identification System (AIS) | Automatic identification system (AIS) is an automatic tracking system used to identify and locate ships by exchanging electronic data with other nearby ships, AIS base stations, and satellites. Satellite AIS (S-AIS) is the term used to describe when a satellite is used to detect AIS signatures. |
| Reusable launch vehicles (RLVs) | Reusable launch vehicle (RLV) means a launch vehicle that is designed to return to Earth substantially intact and therefore may be launched more than one time or that contains vehicle stages that may be recovered by a launch operator for future use in the operation of a substantially similar launch vehicle. |
| Apogee | The point in an elliptical satellite orbit which is farthest from the surface of the earth. Geosynchronous satellites which maintain circular orbits around the earth are first launched into highly elliptical orbits with apogees of 22,237 miles. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.
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