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Electric Propulsion Satellites Market Trends

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

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Electric Propulsion Satellites Market Trends

Satellites are in high demand for defense and commercial uses, including command and control, and government operations. This demand drives market growth, with armed forces worldwide using satellites for various purposes. Electric propulsion satellites are gaining popularity across sectors due to their performance and efficiency. Small all-electric satellites are increasingly used because of their low cost and readily available components. The U.S. Government Accountability Office (GAO) projects that 58,000 new satellites will be launched by 2030, more than doubling the current number of operational spacecrafts. This significant increase in launches is primarily driven by the deployment of large satellite constellations designed to provide essential services, such as broadband internet access to underserved rural areas.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The global market size for electric propulsion satellites was valued at USD 42.9 billion in 2023 and is projected to reach USD 115.3 billion by 2032, driven by a CAGR of 12.1% from 2024 to 2032.

The commercial segment dominated the global market with a revenue of over USD 41 billion in 2023, driven by the demand for satellite internet services and efficient propulsion systems for expanding satellite constellations.

North America market accounted for over 39.5% of the global share in 2023, driven by technological advancements, rising demand for satellite services, and increased investment from government and business sectors.

Major players in the industry include Accion Systems, Ad Astra Rocket, Aerojet Rocketdyne, Airbus, ArianeGroup, Bellatrix Aerospace, Boeing, and Busek.