US Space Chemical Propulsion System Market Insights Forecasts to 2032
- The US Space Chemical Propulsion System Market Size was valued at USD XX Billion in 2022.
- The Market Size is Growing at a CAGR of XX from 2022 to 2032.
- The US Space Chemical Propulsion System Market Size is expected to reach XX Billion by 2032.
- North America is expected to grow the fastest during the forecast period.
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The US Space Chemical Propulsion System Market Size is expected to reach USD XX Billion by 2032, at a CAGR of XX during the forecast period 2022 to 2032.
The use of chemical propulsion chemical reactions, on the other hand, are used to release energy and accelerate gases to generate thrust in systems. These systems generate relatively large thrusts in a short period of time. Chemical propulsion involves the chemical reaction of propellants to move or control a spacecraft and system functions include primary propulsion, reaction control, station keeping, precision pointing, and orbital maneuvering. The chemical propulsion system is used for orbital control after the initial injection from the launcher to deploy the satellite at the desired location. It also keeps the satellite in the correct location during its active time. When a satellite reaches the end of its useful life (EOL), the propulsion system is used to propel it into a distant orbit. The main engines provide the primary propulsive force for orbit transfer, planetary trajectories and extra planetary landing and ascent. The space propulsion companies such as SpaceX, Blue Origin, and United Launch Alliance (ULA) have increased demand for space launch services and propulsion systems. These firms are developing and launching their own rockets and spacecraft, which is increasing demand for propulsion systems. NASA and private companies in the United States have been working on ambitious space exploration projects such as missions to the moon, mars, and beyond, which require advanced propulsion systems.
This research report categorizes the market for US space chemical propulsion system market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the US space chemical propulsion system market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the US space chemical propulsion system market.
US Space Chemical Propulsion Market Report Coverage
|Market Size in 2022:||USD XX Billion|
|Forecast Period 2022-2032 CAGR:||XX|
|2032 Value Projection:||USD XX Billion|
|Historical Data for:||2018-2021|
|No. of Pages:||210|
|Tables, Charts & Figures:||110|
|Segments covered:||By Propellant Type, By Type of Testing, By Thrusters Type, By Facility Availability, By Testing Demand, and COVID-19 Impact Analysis.|
|Companies Covered:||L3Harris Technologies Inc., Northrop Grumman, The Boeing Company, Honeywell International Inc., Sierra Nevada Corporation, Space Exploration Technologies Corporation (SpaceX), Blue Origin LLC, Moog Inc., IHI Corporation, Lockheed Martin Corporation, Raytheon Technologies, and Other Key Vendors.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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One of the primary factors driving market growth in US is the increasing number of satellites launches around the country. Space chemical propulsion systems are widely used to launch satellites into various earth orbits for purposes such as communication, remote sensing, navigation, and weather forecasting. In addition, the rapid commercialization of the space industry is increasing system demand for carrying out various commercial activities such as space tourism and private spaceflight. For, Instance, SpaceX’s Starlink project aims to deploy thousands of small satellites in low earth orbit, which will necessitate advanced propulsion systems to effectively manage their orbits. The rising demand for satellite-based services for a broadband connectivity and earth observation has resulted in the emergence of satellite constellations. To maintain precise positioning, perform orbital adjustments, and enable satellite rendezvous and deorbiting, these constellations require efficient propulsion systems.
Significant investments in research, development, testing, and manufacturing are required for space chemical propulsion systems. The high costs associated with these activities limit market growth. For example, developing advanced propulsion systems such as ion thrusters or nuclear propulsion requires significant financial resources, limiting their widespread adoption and deployment.
- In 2022, the hydrazine segment accounted for the largest revenue share over the forecast period.
Based on the propellant type, the US space chemical propulsion system market is segmented into hydrazine, green propellants, others. Among these, the hydrazine segment has the largest revenue share over the forecast period. Hydrazine is a highly toxic and corrosive liquid propellant commonly used in spacecraft propulsion systems, such as monopropellant and bipropellant systems. It is efficient and stable but poses safety and environmental concerns due to its toxicity.
- In 2022, the propellant testing segment accounted for the largest revenue share over the forecast period.
On the basis of type of testing, the US space chemical propulsion system market is segmented into thruster testing, propellant testing, environmental testing. Among these, the propellant testing segment has the largest revenue share over the forecast period. The propellant testing ensures the safety, stability and performance of the space chemical propulsion system.
- In 2022, the 1-5 kN thrusters’ segment is expected to hold the largest share of the US space chemical propulsion system market during the forecast period.
Based on the thruster’s type, the US space chemical propulsion system market is classified into less than 1 kN thrusters, 1-5 kN thrusters, 5-10 kN thrusters, more than 10 kN thrusters. Among these, the 1-5 kN thrusters’ segment is expected to hold the largest share of the US space chemical propulsion system market during the forecast period. This range of thrusters provides moderate thrust and is commonly used for spacecraft orbit insertion, orbit changes, and attitude control. They can be used for a variety of missions, including earth orbit and interplanetary missions.
- In 2022, the public segment accounted for the largest revenue share over the forecast period.
Based on the facility availability, the US space chemical propulsion system market is segmented into public and private. Among these, the public segment has the largest revenue share over the forecast period. Government space agencies, such as NASA in the United States, typically own and operate public facilities for space chemical propulsion. These facilities are frequently used for propulsion system research, development, and testing for government-sponsored missions, scientific research, and intergovernmental collaborations. These facilities may be available to researchers and organizations through collaborative agreements, contracts, or cooperative research programmers.
- In 2022, the spacecraft systems segment accounted for the largest revenue share over the forecast period.
Based on the testing demand, the US space chemical propulsion system market is segmented into aerospace manufacturers, space agencies, private space companies, others. Among these, the spacecraft systems segment has the largest revenue share over the forecast period. Testing covers a wide range of areas, including spacecraft systems, rocket propulsion, planetary science instruments, and astronaut training and NASA (United States) and other space agencies have high testing requirements for space missions and exploration.
The report offers the appropriate analysis of the key organizations/companies involved within the US space chemical propulsion system market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- L3Harris Technologies Inc.
- Northrop Grumman
- The Boeing Company
- Honeywell International Inc.
- Sierra Nevada Corporation
- Space Exploration Technologies Corporation (SpaceX)
- Blue Origin LLC
- Moog Inc.
- IHI Corporation
- Lockheed Martin Corporation
- Raytheon Technologies
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- On March 2023, NASA has awarded Aerojet Rocketdyne a contract to develop a new type of electric propulsion system for use in deep space exploration missions.
This study forecasts revenue at global, regional, and country levels from 2021 to 2032. Spherical Insights has segmented the US space chemical propulsion system market based on the below-mentioned segments:
US Space Chemical Propulsion System Market, By Propellants Type
- Green Propellants
US Space Chemical Propulsion System Market, By Type of Testing
- Thruster Testing
- Propellant Testing
- Environmental Testing
US Space Chemical Propulsion System Market, By Thrusters Type
- Less than 1 kN Thrusters
- 1-5 kN Thrusters
- 5-10 kN Thrusters
- More than 10 kN Thrusters
US Space Chemical Propulsion System Market, By Facility Availability
US Space Chemical Propulsion System Market, By Testing Demand
- Aerospace Manufacturers
- Space Agencies
- Private Space Companies
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