MarkNtel Advisors has just published a new research report titled "Satellite Propulsion Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028". This study provides an extensive analysis of market drivers, segmentation, growth opportunities, trends, and competitive landscape, aiming to provide insights into current and future market scenarios.
What insights and analysis does the report provide on the Satellite Propulsion market from 2023 to 2028?
The Global Satellite Propulsion Market is projected to grow at a CAGR of around 6.7% during the forecast period, i.e., 2023-28.
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Satellite Propulsion Market by Segments
By System Type
- Bipropellant Propulsion System
- Monopropellant Propulsion System
- Ion-Thruster Propulsion Systems
By Application
- Application Satellite
- Communication & Broadcasting
- Weather
- Navigation
- Others
- Science Satellite
- Technology Experiment Satellite
By End User
- Government
- Private Entities
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Satellite Propulsion Market Report Segment by Regions
- Americas
- Europe
- Asia Pacific
- Rest of the World
What are the current trends in the global Satellite Propulsion Market?
Rising Usage of Electric Propulsion Systems - The burgeoning research & development in the space field has resulted in the discovery of electric propulsion systems to be used in satellites. These electric propulsion systems are convenient to be used in comparison to the traditional chemical propulsion system because it reduces the fuel load capacity to be carried in the spacecraft, as with the use of an electric propulsion system, thrust can be created in ions using electricity. This, in turn, generates force and causes the satellite to move.
The ion propulsion system is an emerging technology that can be used in communication satellites. As communication satellites are generally lightweight, using an ion propulsion system reduces their overall weight, saving a lot of fuel costs while launching these satellites into Low Earth Orbit.
With the growing focus on weight reduction & effective usage of thrust for the longer lifecycle of the satellites, it is anticipated that the adoption of electric ion propulsion would assist the growth of the Global Satellite Propulsion market in the forecast years.
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Who are the key players in the Satellite Propulsion Market?
- Moog Inc.
- Aliena Pte Ltd.
- Ariane Group
- Busek Co. Inc.
- Champaign Urbana Aerospace
- Neutron Star
- Northrop Grumman
- Orbion Space Technology
- Phase Four Inc.
- Sitael SPA
Questions Addressed in this Study
- What factors are driving the Satellite Propulsion Market growth?
- How is the Satellite Propulsion Market expected to grow over the next five years?
- What are the key insights into the current trends in the Satellite Propulsion Market?
- What is the current size of the Satellite Propulsion Market, and how is it projected to change in the future?
- What is the future outlook for the Satellite Propulsion Market in terms of technological advancements and market expansion?
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