The electric propulsion satellite market is poised to grow by USD 10.18 billion during 2020-2024, progressing at a CAGR of about 14% during the forecast period. Request free sample pages
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Technavio has announced its latest market research report titled Global Electric Propulsion Satellite Market 2020-2024 (Graphic: Business Wire)
Read the 120-page report with TOC on "Electric Propulsion Satellite Market Analysis Report by Type (Hybrid and All-electric) Geography (North America, APAC, Europe, South America, and MEA), and the Segment Forecasts, 2020-2024".
The market is driven by the growing preference for hosted payload. In addition, the introduction of lightweight amplifiers is anticipated to boost the growth of the electric propulsion satellite market.
Many government agencies prefer hosted payload approach as it helps them achieve cost-effectiveness and eliminates the need for building a dedicated satellite. This approach also reduces the risk of inadequate funding, launch delays, and operational failures. Over recent years various government and defense organizations have adopted the hosted payload approach. Companies such as Boeing are offering all-electric satellites specifically designed to facilitate hosted payloads for defense applications. During the forecast period, many such commercial satellites are expected to accommodate hosted payloads for defense and government applications. These factors are expected to fuel the growth of the global electric propulsion satellite market.
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Major Five Electric Propulsion Satellite Companies:
Aerojet Rocketdyne Holdings Inc.
Aerojet Rocketdyne Holdings Inc. operates its business through segments such as Aerospace and Defense and Real Estate. The company offers Electric Propulsion systems that uses electricity to accelerate a propellant to produce thrust.
Airbus SE operates its business through segments such as Airbus, Helicopter, and Defence and Space. The company offers numerous products including SES12, SES14, and Eutelsat 172B.
Ball Corp. operates its business through segments such as Beverage Packaging, North and Central America, Beverage Packaging, South America, Beverage Packaging, Europe, and Aerospace. The company offers solar electric power-based propulsion technologies, capabilities, and infrastructure required for sustainable, affordable human presence in space.
Lockheed Martin Corp.
Lockheed Martin Corp. operates its business through segments such as Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. The company offers High Power Hall Current Thruster (HPHCT) electric propulsion system.
Mitsubishi Electric Corp.
Mitsubishi Electric Corp. operates its business through segments such as Energy and Electric Systems, Industrial Automation Systems, Information and Communication Systems, Home Appliances, and Other. The company offers hybrid and electric propulsion systems.
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Electric Propulsion Satellite Market Type Outlook (Revenue, USD Billion, 2020-2024)
Electric Propulsion Satellite Market Regional Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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