Electric Propulsion Satellites Market Report

Market Insights

''The electric propulsion satellites market was US$ 43.43 Billion in 2023 and is likely to grow at a decent CAGR of 11% in the long run to reach US$ 90.16 Billion in 2030.''

Market Dynamics

Introduction  

The Electric Propulsion Satellites market relates to the industry that is concerned with the design manufacture and application of satellites with electric propulsion technologies for orbit adjustments station keeping in deep space missions. Unlike the traditional chemical rockets that use propellant to generate the needed force to push through space electric propulsion utilizes electricity to ionize or heat plasma. This generates a greater fuel-efficient constant velocity as it is suitable for augmenting long-term imagery.

Since more and more extended satellite missions, as well as missions using low-cost satellites, are planned, electric propulsion is gradually becoming the most attractive type. The growth is also due to a higher demand for satellite constellations in international communication, progress in space science technology, and a higher number of LEO satellites. The requirement of satellite launch mass optimization and a need to increase overall mission efficiency guarantees that in the future, electric propulsion will continue to be one of the main interests of satellite builders and space agencies.

Segments Analysis

By Propulsion Type

“Full Electric is currently dominating and driving much of the market growth”.

• Cost Efficiency: Full electric propulsion largely reduces the fuel needs of the satellite, thus lowering the launch mass and total launch costs. This is very appealing to satellite operators, especially in the commercial strata where every dime saved counts.
• Longer Satellite Lifespan: Full electric systems offer high-performance, continuous power thrust to the satellites for long durations and therefore increase the satellite’s useful life. It is especially relevant for LEO constellations and telecommunications satellites, where long life cycles minimize the rate of satellite replenishments.
• Widespread Adoption: Full electric propulsion is being adopted faster and mainly by commercial players like SpaceX (Starlink) and OneWeb, who run a large number of satellites, and their deployment is more important than in the case of large satellites where propulsion is not critical.
• Technological Advancements: Further enhancements to ion thrusters and Hall effect thrusters imply enhanced electric power of full electric propulsion enabling the usage of satellites of different types of missions.

By End User

“Commercial is expected to maintain its dominance over the forecasted period”.

• Growing Demand for Satellite Services: The business segment has been growing rapidly in recent years as more business needs satellite services including broadband internet, telecommunications, earth observation, and IoT. Lynn and Ford point out that to satisfy these demands, companies are launching many satellites at once, which in turn calls for efficient electric propulsion systems.
• Investment in LEO Constellations: Starlink by SpaceX, Project Kuiper by Amazon, or OneWeb are EVT major commercial players willing to deploy LEO satellite constellations. These systems need electric propulsion for efficient launch and subsequent sustaining, which has created an enhanced demand in the commercial segment.
• Cost Efficiency and Operational Longevity: Commercial players have ambitions to minimize the expenses of satellite operations by extending the spacecraft’s life cycle. End-to-end electric power is ten times more efficient in fuel consumption hence matching the needs of commercial parties with longer life spans of satellites.
• Technological Advancements: Technological innovation and development of ion thrusters, Hall effect thrusters, and other such improvements are making electric propulsion more suitable for a host of commercial applications which will accelerate the commercial sector’s growth

Regional Analysis

“The North American region is expected to dominate the market in the forecasted period”.

• Presence of Major Players: North America is the market leader in satellite manufacturing and service providers and consists of SpaceX, Boeing, Lockheed Martin, and Northrop Grumman. Most of these companies are at the forefront of designing and implementing electric propulsion systems.
• Investment in Space Programs: Huge spending on space research and exploration by NASA, US DoD along private corporations is the major driving force for the growth of the electric propulsion market in this region. Programs that extend the satellite capabilities as well as developments in the exploitation of outer space are the main factors.
• Technological Innovation: North American region is one of the most desarrolloped regions in terms of technicalities of satellites and propulsion systems. Current progressive research and development activities have made it possible for electric propulsion systems to enhance the future operations of satellites.
• Growing Demand for Satellite Services: Satellite-based services related to telecommunication, broadband internet, and earth observation are in demand in the North America region. This growth necessitates new satellite developments as well as electric propulsion satellites.

Key Players

The market is highly fragmented with the presence of over 100 players across the region. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the Electric Propulsion Satellites.

Here is the list of the Top Players (Based on Dominance)

• Airbus SE
• Northrop Grumman Corporation
• Safran SA
• Thales
• The Boeing Company

Note: The above list does not necessarily include all the top players of the market.

Are you the leading player in this market? We would love to include your name. Write to us at [email protected]

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

The electric propulsion satellites market is segmented into the following categories. 

Electric Propulsion Satellites, by Propulsion Type

• Full Electric (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Hybrid (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Electric Propulsion Satellites, by End User

• Commercial (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Military (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Electric Propulsion Satellites, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)

Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s Electric Propulsion Satellites realities and future market possibilities for the forecast period. 
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]