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The electric propulsion satellite market share is expected to increase by USD 15.71 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 16.28%.
The electric propulsion satellite market has been broadly categorized into the following demographic segmentations:
The electric propulsion satellite market report offers information on several market vendors, including Accion Systems Inc., Ad Astra Rocket Co., Aerojet Rocketdyne Holdings Inc., Airbus SE, Busek Co. Inc., INVAP S.E., Northrop Grumman Corp., OHB System AG, Safran SA, Sitael S.p.A., Thales Group, and The Boeing Co. among others.
One of the key highlights of the single-use bioprocessing system industry research report is the post COVID-19 impact analysis on the market, which will help companies evaluate their business approaches for the forecast period.
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Based on our research output, there has been a negative impact on the market growth during and post-COVID-19 era. The growing preference for the hosted payload is notably driving the electric propulsion satellite market growth, although factors such as design and manufacturing constraints may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the electric propulsion satellite industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Electric Propulsion Satellite Market Driver
The growing preference for the hosted payload is one of the key drivers fueling the electric propulsion satellite market growth. The government or defense agency attaches a small module to a commercial satellite in a hosted payload approach, 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. In view of this, government agencies usually prefer such approaches to achieve cost efficiencies and to negate the need to build and launch a separate dedicated satellite. Moreover, such approaches also reduce the risk of launch delays, inadequate funding, and operational failures. These factors are growing preference for the hosted payload and thereby leading to the electric propulsion satellite market growth during the forecast period.
Key Electric Propulsion Satellite Market Trend
The introduction of lightweight amplifiers is one of the key electric propulsion satellite market trends contributing to the market growth. Power amplifiers are one of the building blocks of a wide spectrum of applications, which necessitate high-frequency signal transmission. The replacement of the main gallium arsenide material with an alternative is one of the major trends, which can be easily integrated into the silicon-based circuitry of the electronic application. The chips are usually fabricated from complementary metal-oxide-semiconductor (CMOS), and thus, it can be a more practical approach to design a CMOS-based amplifier. This will be a cost-effective option since silicon is considerably less expensive than gallium arsenide and has a longer life. Thus, such replacement will propel the electric propulsion satellite market growth during the forecast period.
Key Electric Propulsion Satellite Market Challenge
Design and manufacturing constraints is one of the challenges impeding the electric propulsion satellite market growth. The design and manufacturing of miniaturized satellites involve further challenges owing to their requirement for size and weight reduction and a high level of performance and reliability. Furthermore, with the growth in demand for nano and microsatellites from the military and commercial sectors, these satellites have to meet high-reliability standards and longer mission life as required for varied applications. For highly reliable and high-capacity systems, it requires more mass and power resources, which are not possible within the design constraint of miniaturized satellites. Thus, there is a need for further high-pace advancement in the current capability of miniaturized electronics and components to meet the growing need for the future. This, in turn, will have a negative impact on the electric propulsion satellite market growth during the forecast period.
This electric propulsion satellite market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global electric propulsion satellite market as a part of the global aerospace and defense market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the electric propulsion satellite market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the electric propulsion satellite market encompasses successful business strategies deployed by the key vendors. The electric propulsion satellite market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The electric propulsion satellite market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the electric propulsion satellite market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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37% of the market's growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for the electric propulsion satellite market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The increasing demand for miniaturized satellites for feeding information about fertile land, rainfall pattern, and water distribution to the farmers will facilitate the electric propulsion satellite market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, most operations of various space centers in the region were affected by the outbreak of COVID-19, which had a negative impact on the electric propulsion satellite market. Furthermore, the demand for electric propulsion satellites decreased due to the restraints in the regular budget and expenditure of space organizations in 2020. This hampered the market growth in the same year. However, once the COVID-19 pandemic is brought under control, the market will register significant growth during the latter half of the forecast period.
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The electric propulsion satellite market share growth by the hybrid segment will be significant during the forecast period. Unlike all-electric propulsion, the use of hybrid propulsion is not a new concept. However, with the growing concern over reducing the overall launching cost, it is expected that the adoption of hybrid propulsion technology will become more prominent. Moreover, the implementation of hybrid propulsion technology will allow satellite launch contractors to launch multiple geostationary satellites using a single launch vehicle. The use of hybrid propulsion has been gaining acceptance in countries with emerging space stakeholders like China and India. Thus, such an increasing acceptance of hybrid propulsion will drive the electric propulsion satellite market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the electric propulsion satellite market size and actionable market insights on the post-COVID-19 impact on each segment.
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Electric Propulsion Satellite Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 16.28% |
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Market growth 2022-2026 |
$15.71 billion |
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Market structure |
Concentrated |
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YoY growth (%) |
13.52 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 37% |
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Key consumer countries |
US, China, India, Japan, and Russia |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Accion Systems Inc., Ad Astra Rocket Co., Aerojet Rocketdyne Holdings Inc., Airbus SE, Busek Co. Inc., INVAP S.E., Northrop Grumman Corp., OHB System AG, Safran SA, Sitael S.p.A., Thales Group, and The Boeing Co. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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