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Electric Propulsion Systems Market Share

Report ID: GMI9556
Published Date: May 2024
Report Format: PDF

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Electric Propulsion Systems Market Share

L3 Harris, Safran, and Thales are prominent players in the market holding market share above 16%, each offering a unique range of solutions catering to aerospace and defense applications. With a focus on innovation and reliability, these companies compete to secure contracts for electric propulsion systems in satellites, spacecraft, and unmanned aerial vehicles.

L3 Harris, Safran, and Thales compete fiercely in the electric propulsion systems industry, leveraging their technological expertise and global reach. These companies strive to capture market share by developing cutting-edge propulsion solutions for commercial and military aircraft, satellites, and other aerospace applications, while also emphasizing customer service and aftermarket support.

Electric Propulsion Systems Market Companies

Major players operating in the electric propulsion systems industry are:

Accion Systems Inc.
Airbus Defence and Space
Busek Co. Inc.
General Electric
Honeywell Aerospace
L3 Harris
Mars Space Ltd.
Mitsubishi Electric Corporation
Safran
Sitael S.p.A.
Thales

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

Industry size for electric propulsion systems was USD 9.4 billion in 2023 and will expand at over 6% CAGR from 2024 to 2032, owing to the increasing demand for eco-friendly transportation, and the launch of government incentives to promote electric vehicles.

The full-electric propulsion segment in the electric propulsion systems industry held 65% revenue share in 2023 and is projected to expand at substantial rate from 2024 to 2032, due to their rising preferences owing to the advancements in battery technology and charging infrastructure.

The aerospace segment in the electric propulsion systems industry accounted for 34% share in 2023 and is estimated to witness robust growth between 2024 and 2032, on account of the rising need to reduce emissions, enhance operational capabilities, and lower the overall costs for aviation and space exploration operations.

Europe industry recorded over 36% share in 2023 and is estimated to depict significant growth between 2024 to 2032, due to increasing environmental consciousness and government incentives.