Global Satellite Propulsion System Market 2017-2021
About Satellite Propulsion System
Satellite propulsion systems are used to accelerate/power a satellite into the orbit. They can be chemical, hybrid, or all-electric.
Technavio’s analysts forecast the global satellite propulsion system market to grow at a CAGR of 4.09% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global satellite propulsion system market for 2017-2021. To calculate the market size, the report considers the new installations.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Satellite Propulsion System Market 2017-2021
Technavio recognizes the following companies as the key players in the global satellite propulsion system market: Aerojet Rocketdyne, Airbus, Bellatrix Aerospace, Boeing, OHB, and Safran.
Other Prominent Vendors in the market are: BALL CORPORATION, Mitsubishi Electric, Orbital ATK, and Thales.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is propulsion by inert gases. A propellant is usually ionized with the aid of electron bombardment or radio frequency fields, and then, it is accelerated with the help of high electric potential applied to a grid structure at the thruster's exit. The power requirements should be in kW range to suffice both interplanetary and satellite attitude control applications. Air Liquide, a Paris-based company, has been a major contributor to space-based explorations for more than 50 years.”
According to the report, one of the major drivers for this market is low-cost propulsion systems for micro and nano satellites. One of the major advantages of the relatively economic nano and microsatellites, when compared with the conventional large satellites, is their lower construction and propulsion costs. Therefore, a constellation of such satellites can be used to provide low-cost solutions, which will otherwise cost a significant amount. The cost to build a nano or microsatellite is almost nil in comparison with traditional satellites. Most of the cost, however, comes from the cost to propel a satellite. The emergence of low-cost launch services for nano and microsatellites has further helped to lower the launch cost.
Further, the report states that one of the major factors hindering the growth of this market is cost-intensive satellite launch programs. The development and manufacture of each satellite comes with a unique set of limitations since each satellite has to withstand exposure to the extreme space environment and launch events. One of the other major challenges is the prohibitive cost, driven by safety and certification requirements that need expertise.
Aerojet Rocketdyne, Airbus, Bellatrix Aerospace, Boeing, OHB, Safran, BALL CORPORATION, Mitsubishi Electric, Orbital ATK, and Thales.