Electric Propulsion Satellites - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2017 - 2029

Key Highlights

• Space-based activities have flourished during the last decade, as evident from the number of satellites launched for both commercial and defense applications, ranging from telecommunication, earth-observation, to experimental scientific research. The absence of a combustion supporting atmosphere in space has resulted in the increased adoption of electric propulsion technologies for maneuvering satellites in orbit.
• The inherent benefits of integrating an electric-propulsion system to different platforms are also driving the rate of adoption. Besides, the emergence of global green emission initiatives has encouraged the adoption of eco-friendly propulsion technologies, such as electric propulsion.

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

• The global market for electric 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 Electric Propulsion Satellites Market Trends

The increased emphasis on electric propulsion system is expected to aid in the growth of spending on its related space programs

• 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.

Electric Propulsion Satellites Industry Overview

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