Global Electric Propulsion Satellite Market 2017-2021
About Electric Propulsion Satellite
Electric-powered satellite propulsion system employs electrical energy to change the velocity of spacecraft. Most all-electric satellite propulsion systems work by electrically expelling propellant or reaction mass at high speed. The hybrid propulsion systems engage both chemical and electrical propulsion technologies. Conventional electric thrusters use less propellant than chemically powered propulsion systems as these have higher exhaust speeds, which operate at a higher specific impulse. However, the thrust generated by electric propulsion remains much weaker compared with its counterparts. Nevertheless, electric propulsion technology can ensure a small thrust for a longer period of time, which makes such technologies ideal for deep space exploration. Also, over a period of operation, such propulsion systems can feature high speed and thereby, ensure effective performance.
Technavio’s analysts forecast the global electric propulsion satellite market to grow at a CAGR of 13.95% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global electric propulsion satellite market for 2017-2021. To calculate the market size, the report considers the revenue generated from the procurement of hybrid propulsion satellite (the ones which used both chemical and electric propulsion technology) and all-electric satellites.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Electric Propulsion Satellite Market 2017-2021
Technavio recognizes the following companies as the key players in the global electric propulsion satellite market: Airbus, Boeing, OHB, Orbital ATK, and Thales.
Other Prominent Vendors in the market are: Ball Aerospace, Lockheed Martin, Mitsubishi Electric, and Safran.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is introduction of lightweight amplifiers. Power amplifiers are one of the building blocks of a wide spectrum of applications, which necessitate high-frequency signal transmission. Some of the application areas span from the futuristic internet-of-things to lightweight microsatellites. One of the trends is the replacement of main gallium arsenide material with an alternative, which can be easily integrated into the silicon-based circuitry of the electronic application.”
According to the report, one driver in market is growing preference for hosted payload. In a hosted payload approach, government or defense agencies attach a small module to a commercial satellite, where the module operates independently and is dedicated to the requirements of the government or defense agencies. However, such payload or module shares the same power supply and transponders that the commercial modules use. The government agencies usually prefer such approaches to achieve cost efficiencies and to negate the need to build and launch a separate dedicated satellite. Such approaches also reduce the risk of inadequate funding, launch delays, and operational failures. In last five years, there were many contracts awarded to various organizations by governments and defense organizations in support of hosted payload approach with a prime focus on minimizing the cost burden and enhance efficiency. In July 2014, the US Air Force had provided contracts, worth $494 million, to 14 companies for facilitating the placement of hosted payloads aboard commercial satellites through its Hosted Payload Solutions program. The prime objective of the contracts was to ensure a flexible and rapid means for the government agencies to host payloads on commercial satellites.
Further, the report states that one challenges in market is design and manufacturing constraints. Each satellite's development and manufacturing has its own set of challenges as it has to withstand the exposure to harsh space environment and launch events. Design and manufacturing of small or miniaturized satellites face further peculiar challenges because of their requirement for weight and size reduction while providing the high level of performance and reliability. For example, the antennas for miniaturized satellites have to be small sized to fit into the satellite system, which, however, diminishes the signal strength. Many of the existing miniaturized satellites used for science missions and technological demonstrations are developed for short mission life and use commercial off-the-shelf electronics to keep the cost down.
Airbus, Boeing, OHB, Orbital ATK, Thales, Ball Aerospace, Lockheed Martin, Mitsubishi Electric, and Safran.