Electric Propulsion Satellite Market to grow at a CAGR of 14.95% by 2025| Growing Preference for Hosted Payload to Boost Growth |17000+ Technavio Reports

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NEW YORK, Nov. 30, 2021 /PRNewswire/ -- The electric propulsion satellite market share growth by the hybrid segment will be significant for revenue generation. The electric propulsion satellite market is set to grow by USD 12.27 billion from 2020 to 2025. The report projects the market to progress at a CAGR of 14.95%. In addition, the report offers a detailed analysis of the current market scenario, the latest trends, drivers, challenges, and the overall market environment.

Attractive Opportunities in Electric Propulsion Satellite Market by Type and Geography - Forecast and Analysis 2021-2025
Attractive Opportunities in Electric Propulsion Satellite Market by Type and Geography - Forecast and Analysis 2021-2025



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The electric propulsion satellite market is fragmented and the vendors are deploying growth strategies such as emphasizing offering futuristic solutions for both orbital injection and station-keeping processes to gain a competitive advantage.

Electric Propulsion Satellite Market: Drivers
Cost-effective solutions to drive growth
Hosted payload or module shares the same power supply and transponders that the commercial modules use. Hosted payloads reduce the risk of inadequate funding, launch delays, and operational failures. In the last five years, there were many contracts awarded to various organizations by governments and defense organizations in support of hosted payload approach with a prime focus on minimizing the cost burden and enhancing efficiency.

Electric Propulsion Satellite Market: Challenges
Design and manufacturing Constraints to impede growth
Each satellite's development and manufacturing has its own set of challenges as it has to withstand exposure to harsh space environments and launch events. The design and manufacturing of small or miniaturized satellites face further peculiar challenges because of their requirement for weight and size reduction while providing a high level of performance and reliability. For example, the antennas for miniaturized satellites have to be small to fit into the satellite system, which, however, diminishes the signal strength. Many of the existing miniaturized satellites used for science missions and technology demonstrations are developed for short mission life and use commercial off-the-shelf electronics to keep the cost down.

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Electric Propulsion Satellite Market: Segmentation Analysis
This market research report segments the electric propulsion satellite market by Type (hybrid and all-electric) and Geography (North America, APAC, Europe, South America, and MEA).

41% of the electric propulsion satellite market growth will originate from APAC. China, India, and Japan are the key markets for electric propulsion satellites in the region. Factors such as the considerable investments in enhancing their technological capabilities in both conventional and miniaturized satellites are accelerating the electric propulsion satellite market growth in APAC.

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Some of the key topics covered in the report include:
Market Challenges
Market Drivers
Market Trends
Vendor Landscape

  • Vendors covered

  • Vendor classification

  • Market positioning of vendors

  • Competitive scenario

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Electric Propulsion Satellite Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of over 14.95%

Market growth 2021-2025

USD 12.27 billion

Market structure

Fragmented

YoY growth (%)

12.88

Regional analysis

North America, APAC, Europe, South America, and MEA

Performing market contribution

APAC at 41%

Key consumer countries

US, China, Russian Federation, India, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Accion Systems Inc., Aerojet Rocketdyne Holdings Inc., Airbus SE, Lockheed Martin Corp., Mitsubishi Electric Corp., Northrop Grumman Corp., OHB SE, Safran SA, Thales Group, and The Boeing Co.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.

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About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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