A propulsion system is a machine that produces thrust to accelerate satellite and launch vehicle for applications such as attitude control, station keeping, and orbit insertion. A propulsion system consists of a source of mechanical power and a propulsor, comprising an engine or a motor as the power source, wheels, axles, propellers, and a propulsive nozzle to generate the force. It is an important component in the satellites and launch vehicles, as it provides the required velocity for operation.
The significant evolution of the space industry over the past decades is consequently leading to the creation of a huge market for space propulsion systems. It is mainly driven by launch vehicles and satellites, which are an important aspect of the global space industry. The U.S., China, Japan, France, and Russia are some of the dominant countries that have developed propulsion systems across different applications. As the demand for satellites and launch vehicles is increasing predominantly, the global space propulsion system market is witnessing extensive research and development. This is consequently expected to create huge growth in the market in the coming years.
The market research study offers a wide perspective on different applications, propulsion types, end users and components pertaining to the space propulsion system market and analyzes its impact on different regions by providing critical insights into the direction of its future expansion. The research is based on extensive primary interviews (in-house experts, market players and industry leaders) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast models.
The space sector has been witnessing numerous developments since the past years, due to several factors such as cost-effective systems due to technological advances, increasing private investments by emerging players in the industry, and increasing need for better communication and connectivity. The space industry is currently driven by a series of missions, which utilize resources to create value and benefit to the society, globally, in terms of understanding, exploring, researching, managing, and utilizing space. Presently, the space industry includes a collection of critical technologies such as communication, remote sensing, and global positioning satellites.
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The space propulsion system market, which was an exclusive domain of the U.S. and Russia, is now accessible to the other nations as well, in which, companies from the U.S., Europe, China, India, Russia and Japan, among others compete. In 2019, the U.S. and Russia were the dominant countries that made close to 50 rocket launches, wherein propulsion systems were provided by companies such as SpaceX, NPO Energomash (Glushko), and Aerojet Rocketdyne. However, new companies are entering the propulsion system industry. For instance, in June 2020, Accion System signed a cooperative research development agreement with the U.S. Air Force for the development of electrospray thrusters and the TILE propulsion system for deploying small satellite. Furthermore, in 2019, SpaceX tested Raptor engine for the first time, with methane and liquid oxygen as a propellant. This engine is currently under development and will be used for SpaceX’s private moon mission.
Apart from this, space agencies are also focused on developing more efficient and less toxic space propulsion systems. For instance, the Indian Space Research Organization (ISRO) is developing a methane-based rocket engine, where in the methane is can be combined with carbon dioxide and water in space to produce space fuel in future. Similarly, Japan Aerospace Exploration Agency (JAXA), in collaboration with IHI Corporation, is developing a propulsion system using liquid natural gas (LNG) with liquid oxygen. National Aeronautics and Space Administration (NASA), in alliance with private companies, is also developing advanced propulsion systems for deep space missions. Such developments are expected to provide impetus to the space propulsion system market over the coming years.
