North America Satellite Propulsion Market Forecast to 2031 - Regional Analysis - by Propulsion Type, System Type, Application, and Orbit Type

The North America satellite propulsion market was valued at US$ 3.19 billion in 2023 and is expected to reach US$ 9.30 billion by 2031; it is estimated to register a CAGR of 14.3% from 2023 to 2031.

Growing Initiatives to Launch Space Landers, Spacecraft, and Space Tugs Fuel North America Satellite Propulsion Market

The global space sector is driven by rising demand from services such as earth observation, satellite communications, and positioning timing and navigation. The space sector is witnessing the growing presence of private players and experiencing heightened demand arising from the need for information related to space. Constellations of small satellites in Low Earth Orbit are a major part of this movement, known as NewSpace. In February 2024, a lunar lander took off for the moon to make the first US landing.

SpaceX also launched the private Odysseus lander Falcon 9 rocket as the US lander took off for the moon. In March 2024, Blue Origin announced to launch Blue Moon lunar lander in 2025. In March 2024, SpaceX launched a Starship rocket into orbit on a test flight. Thus, the growing number of initiatives toward space landers, spacecraft, and space tugs propels the growth of the satellite propulsion market.

North America Satellite Propulsion Market Overview

The rise in satellite launches, as well as product development, are a few of the major drivers for the North America satellite propulsion market. The US is leading the North America satellite propulsion market owing to the wide presence of satellite propulsion system manufacturers and governments' growing focus on advancing the space sector. Northrop Grumman Corporation, Moog Inc., and AQST Canada Inc., among others, are offering satellite propulsion solutions in North America.

Further, product innovation and major developments such as collaboration and mergers are anticipated to propel the North America satellite propulsion market growth over the forecast period. The Government of Canada is also focusing on initiatives toward establishing new regulations and support policies for the space sector. In 2023, the Government of Canada announced a multi-year plan to support the privately built rocket launch initiatives in the country.

North America Satellite Propulsion Market Revenue and Forecast to 2031 (US$ Million)

North America Satellite Propulsion Market Segmentation

The North America satellite propulsion market is categorized into propulsion type, system type, application, satellites, orbit type, and country.

Based on propulsion type, the North America satellite propulsion market is segmented solid propulsion, cold gas propulsion, green propulsion, electric propulsion, and ambipolar propulsion. The electric propulsion segment held the larger market share in 2023.

In terms of system type, the North America satellite propulsion market is categorized into monopropellant, bipropellant, and electric ion propulsion. The electric ion propulsion segment held the largest market share in 2023.

By application, the North America satellite propulsion market is segmented into launchers, spacecraft, satellites, space tugs, and landers. The private segment held the largest market share in 2023. The satellites is further sub segmented into Below 500 Kg, 500-1000 Kg, Above 1000 Kg.

In terms of orbit type, the North America satellite propulsion market is categorized into LEO, MEO and GEO, and beyond GEO. The LEO segment held the largest market share in 2023.

By country, the North America satellite propulsion market is bifurcated into the US and Canada. The US dominated the North America satellite propulsion market share in 2023.

Moog Inc, Thales SA, Safran SA, Northrop Grumman Corp, Airbus SE, IHI Corp, and ArianeGroup are some of the leading companies operating in the North America satellite propulsion market.