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

The Report Covers Global Satellite Propulsion System Market Analysis & Industry Size and it is Segmented by Type (Spacecraft and Launch Vehicle) and Geography (North America, Europe, Asia-Pacific, and the Rest of the World). The market size and forecast are provided in terms of value (USD Billion) for all the above segments.

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Space Propulsion Systems Market Size

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Space Propulsion Market Summary
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https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2017 - 2029
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 196.14 Billion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2029) USD 301.39 Billion
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Propulsion Tech Liquid Fuel
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2029) 8.97 %
https://s3.mordorintelligence.com/globe/1629285706162_test~globe_globe.svg Largest Share by Region North America

Major Players

Space Propulsion Market Major Players

*Disclaimer: Major Players sorted in no particular order

Key Players

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Space Propulsion Systems Market Analysis

The Space Propulsion Market size is estimated at USD 196.14 billion in 2024, and is expected to reach USD 301.39 billion by 2029, growing at a CAGR of 8.97% during the forecast period (2024-2029).

196.14 Billion

Market Size in 2024 (USD)

301.39 Billion

Market Size in 2029 (USD)

12.51 %

CAGR (2017-2023)

8.97 %

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.

Second Largest Market by Propulsion Tech

73.93 %

value share, Liquid Fuel, 2022

Eco-friendly electric propulsion systems are a growing trend in line with the use of smart manufacturing materials for the development of small satellites and other green emission initiatives.

Largest Market by Region

69.89 %

value share, North America, 2022

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The increasing investments in satellite equipment to enhance the defense and surveillance capabilities, the construction of critical infrastructure, and the rise in law enforcement agencies using satellite systems are the key drivers in the market.

Fastest-Growing Market by Region

69.89 %

value share, North America, 2022

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The Rest of the World segment is expected to experience significant growth during the forecast period due to the rise of internet-based services in the Middle East & Africa.

Leading Market Player

28.19 %

market share, Ariane Group, 2022

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Aerojet Rocketdyne Holdings Inc. is the leading player in the market. The company is a manufacturer of rocket and electric propulsive systems for space, defense, civil, and commercial applications.

Consistent adoption of gas-based propulsion drives to lead the segment

  • To change the velocity and direction, the satellite's propulsion system plays an important role. It is also used to coordinate the position of the spacecraft in orbit. After entering into orbit, the spacecraft needs attitude control which helps to correctly align its direction with respect to the Earth and the Sun. In some cases, satellites need to be moved from one orbit, and without their ability to adjust to their orbit, the life of satellites is considered to be over. Therefore, the importance of propulsion systems is expected to drive the market growth.
  • Various types of propellants are used for different purposes. Liquid propellants use rocket engines that use liquid fuel. Gas propellants can also be used but are not common due to their low density and difficulty in applying conventional pumping methods. The chemical propulsion systems that enabled movements proved to be efficient and reliable. These include hydrazine systems, single or twin propulsion systems, hybrid systems, cold/hot air systems, and solid propellants. They are used when strong thrust or rapid maneuvering is required. Therefore, chemical systems remain the space propulsion technology of choice when their total impulse capacity is sufficient to meet the mission requirements.
  • Electric propulsion is commonly used to hold stations for commercial communication satellites, and it is the main propulsion of some space science missions due to their high specific impulses. Northrop Grumman Corporation, Moog Inc., Sierra Nevada Corporation, SpaceX, and Blue Origin are some of the major providers of propulsion systems. The new launch of satellites is expected to accelerate market growth during the forecast period.
Global Space Propulsion Market

The growing interest of governments and private players in space exploration have fueled the expansion of this market

  • The global market for satellite propulsion systems witnessed robust growth in recent years, driven by the increasing demand for satellite deployments across various sectors. North America has emerged as a dominant player in the global space propulsion market, mainly due to the presence of established space agencies such as NASA and private companies like SpaceX, Blue Origin, and Boeing. These entities have undertaken ambitious space missions and satellite deployments, driving the demand for advanced propulsion systems. NASA is also working on the Solar Electric Propulsion project, which aims to extend the duration and capabilities of ambitious discoveries and science missions.
  • Asia-Pacific has witnessed a rapid expansion of its space capabilities in recent years. Countries like China, India, and Japan have made significant strides in space technology and satellite manufacturing, positioning themselves as formidable players in the global market. In May 2022, Kongtian Dongli, a Chinese satellite electric propulsion company, secured multi-million yuan angel round financing amid a proliferation of Chinese constellation plans.
  • Europe has a strong tradition of collaboration in space exploration through organizations like the ESA. ESA's partnerships with multiple member states have resulted in significant advancements in space technology, satellite manufacturing, and launch capabilities. In February 2023, IENAI SPACE, an in-space mobility provider based in Spain, received two ESA contracts within the General Support Technology Program to mature and further develop ATHENA (Adaptable THruster based on Electrospray powered by NAnotechnology) propulsion systems.

Global Space Propulsion Market Trends

Rising investment opportunities in the global space propulsion market

  • The grant for research and investment has been a major driver of innovation and growth in the North American satellite launch vehicle market. It has helped to fund the development of new technologies, such as reusable launch vehicles, which have the potential to significantly reduce the cost of satellite launches. In FY2023, according to the President's budget request summary from FY2022 to FY2027, NASA is expected to receive USD 98 million for the development of Solar Electric Propulsion. In March 2021, NASA, along with Maxar Technologies and Busek Co., successfully completed a test of the 6-kilowatt (kW) solar electric propulsion subsystem.
  • Additionally, in November 2022, ESA announced that it had proposed a 25% boost in space funding over the next three years to maintain Europe's lead in space projects. The ESA is asking its 22 nations to back a budget of EUR 18.5 billion for 2023-2025. 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 Asia-Pacific, the demand for space propulsion is driven by increasing space programs. In May 2022, Kongtian Dongli, a Chinese satellite electric propulsion company, announced that it had secured multi-million yuan angel round financing amid a proliferation of Chinese constellation plans. The company’s main products are hall thrusters and microwave electric propulsion systems. Likewise, in February 2023, the Indian government announced that ISRO is expected to receive USD 2 billion for various space-related activities, including the development of the Liquid Propulsion Systems Centre (LPSC) and ISRO Propulsion Complex.
Global Space Propulsion Market

Space Propulsion Systems Industry Overview

The Space Propulsion Market is fairly consolidated, with the top five companies occupying 68%. The major players in this market are Ariane Group, Avio, IHI Corporation, Moog Inc. and Northrop Grumman Corporation (sorted alphabetically).

Space Propulsion Systems Market Leaders

  1. Ariane Group

  2. Avio

  3. IHI Corporation

  4. Moog Inc.

  5. Northrop Grumman Corporation

Space Propulsion Market Concentration

Other important companies include Blue Origin, Honeywell International Inc., OHB SE, Sierra Nevada Corporation, Sitael S.p.A., Space Exploration Technologies Corp., Thales.

*Disclaimer: Major Players sorted in alphabetical order.

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Space Propulsion Systems Market News

  • December 2023: NASA awarded Blue Origin a NASA Launch Services II Indefinite Delivery Indefinite Quantity (IDIQ) contract to launch planetary, Earth observation, exploration, and scientific satellites for the agency aboard New Glenn, Blue Origin's orbital reusable launch vehicle.
  • February 2023: NASA's Launch Services Program (LSP) awarded Blue Origin the Escape and Plasma Acceleration and Dynamics Explorers (ESCAPADE) contract. Under the contract Blue Origin will provide its New Glenn reusable technology for the mission.
  • 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.

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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.

Space Propulsion Market
Space Propulsion Market
Space Propulsion Market
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Space Propulsion Systems 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
  • 4.2 Regulatory Framework
    • 4.2.1 Global
    • 4.2.2 Australia
    • 4.2.3 Brazil
    • 4.2.4 Canada
    • 4.2.5 China
    • 4.2.6 France
    • 4.2.7 Germany
    • 4.2.8 India
    • 4.2.9 Iran
    • 4.2.10 Japan
    • 4.2.11 New Zealand
    • 4.2.12 Russia
    • 4.2.13 Singapore
    • 4.2.14 South Korea
    • 4.2.15 United Arab Emirates
    • 4.2.16 United Kingdom
    • 4.2.17 United States
  • 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)

  • 5.1 Propulsion Tech
    • 5.1.1 Electric
    • 5.1.2 Gas based
    • 5.1.3 Liquid Fuel
  • 5.2 Region
    • 5.2.1 Asia-Pacific
    • 5.2.1.1 By Country
    • 5.2.1.1.1 Australia
    • 5.2.1.1.2 China
    • 5.2.1.1.3 India
    • 5.2.1.1.4 Japan
    • 5.2.1.1.5 New Zealand
    • 5.2.1.1.6 Singapore
    • 5.2.1.1.7 South Korea
    • 5.2.2 Europe
    • 5.2.2.1 By Country
    • 5.2.2.1.1 France
    • 5.2.2.1.2 Germany
    • 5.2.2.1.3 Russia
    • 5.2.2.1.4 United Kingdom
    • 5.2.3 North America
    • 5.2.3.1 By Country
    • 5.2.3.1.1 Canada
    • 5.2.3.1.2 United States
    • 5.2.4 Rest of World
    • 5.2.4.1 By Country
    • 5.2.4.1.1 Brazil
    • 5.2.4.1.2 Iran
    • 5.2.4.1.3 Saudi Arabia
    • 5.2.4.1.4 United Arab Emirates
    • 5.2.4.1.5 Rest of World

6. COMPETITIVE LANDSCAPE

  • 6.1 Key Strategic Moves
  • 6.2 Market Share Analysis
  • 6.3 Company Landscape
  • 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 Blue Origin
    • 6.4.4 Honeywell International Inc.
    • 6.4.5 IHI Corporation
    • 6.4.6 Moog Inc.
    • 6.4.7 Northrop Grumman Corporation
    • 6.4.8 OHB SE
    • 6.4.9 Sierra Nevada Corporation
    • 6.4.10 Sitael S.p.A.
    • 6.4.11 Space Exploration Technologies Corp.
    • 6.4.12 Thales

7. KEY STRATEGIC QUESTIONS FOR SATELLITE CEOS

8. APPENDIX

  • 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
** Subject To Availablity

List of Tables & Figures

  1. Figure 1:  
  2. SPENDING ON SPACE PROGRAMS GLOBALLY, USD, GLOBAL, 2017 - 2022
  1. Figure 2:  
  2. GLOBAL SPACE PROPULSION MARKET, VALUE, USD, 2017 - 2029
  1. Figure 3:  
  2. VALUE OF SPACE PROPULSION MARKET BY PROPULSION TECH, USD, GLOBAL, 2017 - 2029
  1. Figure 4:  
  2. VALUE SHARE OF SPACE PROPULSION MARKET BY PROPULSION TECH, %, GLOBAL, 2017 VS 2023 VS 2029
  1. Figure 5:  
  2. VALUE OF ELECTRIC MARKET, USD, GLOBAL, 2017 - 2029
  1. Figure 6:  
  2. VALUE OF GAS BASED MARKET, USD, GLOBAL, 2017 - 2029
  1. Figure 7:  
  2. VALUE OF LIQUID FUEL MARKET, USD, GLOBAL, 2017 - 2029
  1. Figure 8:  
  2. VALUE OF SPACE PROPULSION MARKET BY REGION, USD, GLOBAL, 2017 - 2029
  1. Figure 9:  
  2. VALUE SHARE OF SPACE PROPULSION MARKET BY REGION, %, GLOBAL, 2017 VS 2023 VS 2029
  1. Figure 10:  
  2. VALUE OF SPACE PROPULSION MARKET BY COUNTRY, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 11:  
  2. VALUE SHARE OF SPACE PROPULSION MARKET BY COUNTRY, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
  1. Figure 12:  
  2. VALUE OF SPACE PROPULSION MARKET, USD, AUSTRALIA, 2017 - 2029
  1. Figure 13:  
  2. VALUE OF SPACE PROPULSION MARKET, USD, CHINA, 2017 - 2029
  1. Figure 14:  
  2. VALUE OF SPACE PROPULSION MARKET, USD, INDIA, 2017 - 2029
  1. Figure 15:  
  2. VALUE OF SPACE PROPULSION MARKET, USD, JAPAN, 2017 - 2029
  1. Figure 16:  
  2. VALUE OF SPACE PROPULSION MARKET, USD, NEW ZEALAND, 2017 - 2029
  1. Figure 17:  
  2. VALUE OF SPACE PROPULSION MARKET, USD, SINGAPORE, 2017 - 2029
  1. Figure 18:  
  2. VALUE OF SPACE PROPULSION MARKET, USD, SOUTH KOREA, 2017 - 2029
  1. Figure 19:  
  2. VALUE OF SPACE PROPULSION MARKET BY COUNTRY, USD, EUROPE, 2017 - 2029
  1. Figure 20:  
  2. VALUE SHARE OF SPACE PROPULSION MARKET BY COUNTRY, %, EUROPE, 2017 VS 2023 VS 2029
  1. Figure 21:  
  2. VALUE OF SPACE PROPULSION MARKET, USD, FRANCE, 2017 - 2029
  1. Figure 22:  
  2. VALUE OF SPACE PROPULSION MARKET, USD, GERMANY, 2017 - 2029
  1. Figure 23:  
  2. VALUE OF SPACE PROPULSION MARKET, USD, RUSSIA, 2017 - 2029
  1. Figure 24:  
  2. VALUE OF SPACE PROPULSION MARKET, USD, UNITED KINGDOM, 2017 - 2029
  1. Figure 25:  
  2. VALUE OF SPACE PROPULSION MARKET BY COUNTRY, USD, NORTH AMERICA, 2017 - 2029
  1. Figure 26:  
  2. VALUE SHARE OF SPACE PROPULSION MARKET BY COUNTRY, %, NORTH AMERICA, 2017 VS 2023 VS 2029
  1. Figure 27:  
  2. VALUE OF SPACE PROPULSION MARKET, USD, CANADA, 2017 - 2029
  1. Figure 28:  
  2. VALUE OF SPACE PROPULSION MARKET, USD, UNITED STATES, 2017 - 2029
  1. Figure 29:  
  2. VALUE OF SPACE PROPULSION MARKET BY COUNTRY, USD, REST OF WORLD, 2017 - 2029
  1. Figure 30:  
  2. VALUE SHARE OF SPACE PROPULSION MARKET BY COUNTRY, %, REST OF WORLD, 2017 VS 2023 VS 2029
  1. Figure 31:  
  2. VALUE OF SPACE PROPULSION MARKET, USD, BRAZIL, 2017 - 2029
  1. Figure 32:  
  2. VALUE OF SPACE PROPULSION MARKET, USD, IRAN, 2017 - 2029
  1. Figure 33:  
  2. VALUE OF SPACE PROPULSION MARKET, USD, SAUDI ARABIA, 2017 - 2029
  1. Figure 34:  
  2. VALUE OF SPACE PROPULSION MARKET, USD, UNITED ARAB EMIRATES, 2017 - 2029
  1. Figure 35:  
  2. VALUE OF SPACE PROPULSION MARKET, USD, REST OF WORLD, 2017 - 2029
  1. Figure 36:  
  2. NUMBER OF STRATEGIC MOVES OF MOST ACTIVE COMPANIES, GLOBAL SPACE PROPULSION MARKET, ALL, 2017 - 2029
  1. Figure 37:  
  2. TOTAL NUMBER OF STRATEGIC MOVES OF COMPANIES, GLOBAL SPACE PROPULSION MARKET, ALL, 2017 - 2029
  1. Figure 38:  
  2. MARKET SHARE OF GLOBAL SPACE PROPULSION MARKET, %, ALL, 2022

Space Propulsion Industry Segmentation

Electric, Gas based, Liquid Fuel are covered as segments by Propulsion Tech. Asia-Pacific, Europe, North America are covered as segments by Region.

  • To change the velocity and direction, the satellite's propulsion system plays an important role. It is also used to coordinate the position of the spacecraft in orbit. After entering into orbit, the spacecraft needs attitude control which helps to correctly align its direction with respect to the Earth and the Sun. In some cases, satellites need to be moved from one orbit, and without their ability to adjust to their orbit, the life of satellites is considered to be over. Therefore, the importance of propulsion systems is expected to drive the market growth.
  • Various types of propellants are used for different purposes. Liquid propellants use rocket engines that use liquid fuel. Gas propellants can also be used but are not common due to their low density and difficulty in applying conventional pumping methods. The chemical propulsion systems that enabled movements proved to be efficient and reliable. These include hydrazine systems, single or twin propulsion systems, hybrid systems, cold/hot air systems, and solid propellants. They are used when strong thrust or rapid maneuvering is required. Therefore, chemical systems remain the space propulsion technology of choice when their total impulse capacity is sufficient to meet the mission requirements.
  • Electric propulsion is commonly used to hold stations for commercial communication satellites, and it is the main propulsion of some space science missions due to their high specific impulses. Northrop Grumman Corporation, Moog Inc., Sierra Nevada Corporation, SpaceX, and Blue Origin are some of the major providers of propulsion systems. The new launch of satellites is expected to accelerate market growth during the forecast period.
Propulsion Tech Electric
Gas based
Liquid Fuel
Region Asia-Pacific By Country Australia
China
India
Japan
New Zealand
Singapore
South Korea
Region Europe By Country France
Germany
Russia
United Kingdom
Region North America By Country Canada
United States
Region Rest of World By Country Brazil
Iran
Saudi Arabia
United Arab Emirates
Rest of World
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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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Space Propulsion Systems Market Research FAQs

The Space Propulsion Market size is expected to reach USD 196.14 billion in 2024 and grow at a CAGR of 8.97% to reach USD 301.39 billion by 2029.

In 2024, the Space Propulsion Market size is expected to reach USD 196.14 billion.

Ariane Group, Avio, IHI Corporation, Moog Inc. and Northrop Grumman Corporation are the major companies operating in the Space Propulsion Market.

In the Space Propulsion Market, the Liquid Fuel segment accounts for the largest share by propulsion tech.

In 2024, North America accounts for the largest share by region in the Space Propulsion Market.

In 2023, the Space Propulsion Market size was estimated at USD 175.92 billion. The report covers the Space Propulsion Market historical market size for years: 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Space Propulsion Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Space Propulsion Systems Industry Report

Statistics for the 2024 Space Propulsion Systems market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Space Propulsion Systems analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Space Propulsion Systems Market Report Snapshots

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

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