Space Propulsion Market worth $22.5 billion by 2026

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Space Propulsion Market worth 22.5 billion by
2026 The Space Propulsion Market is projected to
grow from USD 8.3 billion in 2021 to USD 22.5
billion by 2026, at a CAGR of 22.1 from 2021 to
2026. Developed economies of North America and
Europe are currently the leaders in the
market, considering the strong presence of OEMs
in these regions, while emerging economies,
especially those from the Asia Pacific region,
are projected to be the upcoming major
markets for space propulsion systems.
Conventionally, access to space has been
extremely costly. But prices continue to fall
with each passing decade as new technologies are
created and the sector becomes more
commercialized. SpaceX, for instance, has
demonstrated the capability of reusable rockets.
Other advances in the future may involve lighter
materials, the use of inflatable modules, new
fuel types, space planes, and/or more efficient
engines. Download PDF Brochure _at_ https//www.marke
tsandmarkets.com/pdfdownloadNew.asp?id118742255 L
ong-term market drivers for space propulsion
remain strong, and, before the COVID- 19
pandemic, the market had started to show signs of
recovery from the major market price reset.
Governments and businesses involved with space
are reacting differently to the new situation.
Some launches are moving forward, while some are
not some tests continue, and some are delayed
some companies still operate, and others have
shuttered. Rockets continue to be launched
however, many launch providers are pushing future
launches back. Rocket Lab, for example, has
suspended launches for the time being. Consumer
broadband saw growth in North America following
the pandemic, with existing subscribers shifting
to higher-value plans and overall growth in the
subscriber base. Nonetheless, temporary supply
chain issues have caused delays in new project
rollouts in most market segments. Despite the
short-term headwinds caused by the pandemic,
underlying market drivers are expected to
prevail, enabling long-term growth. Based on
component systems used in space propulsion
systems, this report studies thrusters,
propellant feed systems, rocket motors, nozzles,
reactors, propulsion thermal control, and power
processing units (PPU). By system component, the
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thrusters segment is projected to lead the space
propulsion market during the forecast period.
Thrusters are extensively used for maneuvering
and orbit control of satellites. Based on
propulsion type, report is categorized as
chemical propulsion technologies, that include
solid, liquid, hybrid, and cold gas
propulsion and non-chemical propulsion
technologies such as electric, solar, nuclear,
and laser propulsions. By propulsion type, the
non-chemical propulsion segment is projected to
lead the space propulsion market during the
forecast period. The demand for low-cost and
reusable space propulsion systems is fueling the
growth of the non-chemical propulsion segment. By
platform, the satellites segment is projected to
lead the space propulsion market and have the
highest CAGR during the forecast period due to
the increasing small satellite launches for
commercial and government applications and the
adoption of advanced technology in small
satellites and CubeSats Based on end use segment,
this research report covers space propulsion
market comprising chemical and non-chemical
propulsions across government defense and
commercial end users. Based on end users,
Government defense sub-segment would have the
highest market share during the forecast period.
The growth of this segment can be attributed to
the increasing number of space exploration
missions and the rising budgets for space
exploration. By orbit, the LEO (Low earth Orbit)
segment is projected to lead the space propulsion
market during the forecast period. The rising
demand for communications and earth observation
satellites fueling the growth of the Low Earth
Orbit (LEO) segment. North America is projected
to hold the largest share of the space propulsion
market during the forecast period. This is owing
to the ever-rising small satellite launches and
the entry of private players like SpaceX, which
have boosted the space industry in recent
times. Ask for Sample Report _at_ https//www.markets
andmarkets.com/requestsampleNew.asp?id118742255
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