Satellite Electric Propulsion Market Current and Future Growth By 2032
The electric propulsion system has garnered significant interest from several satellite industry players in 2020-2021. This has been rapidly growing owing to the increasing requirement of launching satellite constellations for communication and Earth observation. However, this is anticipated to grow in the upcoming years due to several developments, such as small satellite launches, increased satellite communication, Earth observation and remote sensing services, and technological innovations. Additionally, the role of the propulsion systems in the space industry is crucial as they are responsible for station keeping, orbital positioning, insertion, and attitude control, among others, particularly with the growing small satellite constellations being launched.
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The satellite electric propulsion technology companies have witnessed the demand from the growing commercial industry. The ecosystem of the satellite propulsion system market comprises system manufacturers, original equipment manufacturers (OEMs), and end users. Over the past years, the number of small satellite constellations has increased tremendously, owing to the low cost associated with their development. Thus, it is fostering the market for propulsion systems in the coming years.
The competitive landscape of the satellite electric propulsion market consists of several organic and inorganic strategies followed by the key players to increase their market share. The strategies include product innovations, contracts, partnerships, acquisitions, and business expansions, among others.
Some of the key players in the global satellite electric propulsion market include Airbus, ArianeGroup, Astra, Busek, Co. Inc, ENPULSION GmbH, and Orbion Space Technology. These companies are aiming for a wide range of partnerships, collaborations, agreements, and contracts to expand their operations and increase their market presence globally to generate revenues and attract new customers.
Satellite electric propulsion has gained significant importance over three years (2019-2021). An increase in the requirement of satellites around the globe from various end users, such as defense and government, and commercial, has generated the demand for electric propulsion during the forecast period. The industry is currently focusing on developing high-efficient and low-weight satellites that can be used for several years. The research study is based on extensive primary interviews (in-house industry players, market leaders, and experts) and secondary research (a host of paid and unpaid databases), along with analytical tools to predict the forecast analysis for the study period. With the help of these, the satellite electric propulsion study provides a broader perspective of the industry.
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In the current market scenario, there are diverse and mature electric propulsion systems available to propel the satellite and spacecraft in various Earth’s orbits and deep space missions. The hall-effect thrusters (HETs) and gridded-ion engines (GIE) are one of the prominent electric propulsion technologies available in the current market and are mostly used in satellites. Some of the major satellite constellation operators, such as SpaceX and OneWeb, are using HETs for their satellites owing to thrust and high specific impulse (Isp), making them suitable for longer-duration mission applications. Additionally, the national space agencies are integrating more electric propulsion for their upcoming deep space missions. For instance, NASA uses electric propulsion for power and propulsion element (PPE) in its Lunar Gateway mission, which is planned to be launched by 2024.
