Satellite Propulsion Market Poised to Skyrocket, Driven by New Space Race and Growing Satellite Deployments

New York, US – September 19, 2025- The global satellite propulsion market is on a robust growth trajectory, according to a new report titled “Satellite Propulsion Market – Global Analysis – by Propulsion Type, System Type, Application, and Orbit Type,” published by The Insight Partners. The report forecasts the market to surge from US$8,424.55 million in 2022 to US$26,074.53 million by 2031, exhibiting a compound annual growth rate (CAGR) of 15.4% from 2023 to 2031. This expansion is fueled by the rapid increase in satellite launches and significant financial commitments within the space industry.

Key Drivers Propelling Market Growth

The satellite propulsion market is gaining strong momentum due to several key factors, including:

• Soaring Demand for Satellite-Based Services: The global space industry is experiencing a surge in demand for services such as earth observation, satellite communications, and navigation systems. This is particularly evident with the deployment of small satellite constellations in Low Earth Orbit.
• Innovations in Propulsion Technology: The advent of next-generation propulsion systems, such as electric propulsion, is a major growth catalyst. These systems address the growing need for cost-efficient, high-efficiency, and long-duration thrusters for a wide range of space
• Escalating Satellite Launch Frequency: The number of satellites being placed into orbit is on the rise. As of June 2023, the United Nations Office for Outer Space Affairs (UNOOSA) reported over 11,330 individual satellites in orbit, highlighting the demand for effective propulsion.

Check valuable insights in the Satellite Propulsion Market report. You can easily get a sample PDF of the report - https://www.theinsightpartners.com/sample/TIPRE00024337

Recent Industry Developments

The sector has recently witnessed a wave of innovation and strategic maneuvers. For instance, in January 2024, Bellatrix Aerospace introduced its Rudra and Arka propulsion systems. Similarly, the Indian Space Research Organization (ISRO) announced its intent to demonstrate the use of electric propulsion on its satellites in March 2024.

Key Collaborations and Market Players

Strategic partnerships and acquisitions are shaping the market landscape as companies strive to enhance their product portfolios and technological prowess. A notable example is the US$38 million funding secured by HyPrSpace, Leonardo, Thales, and CT Engineering for a collaborative project to develop an innovative rocket engine.

Key Players operating in the Satellite Propulsion Market include:

• Moog Inc.
• ArianeGroup
• Northrop Grumman Corporation
• Thales SA
• Airbus SE
• IHI Corp.
• Bellatrix
• Aerospace Private Limited
• Busek, Co., Ltd.
• Safran S.A.

Get Premium Research Report of Satellite Propulsion Market Size and Growth Report by 2031 at: https://www.theinsightpartners.com/buy/TIPRE00024337

Future Outlook

The future of the Satellite Propulsion Market appears bright, with sustained growth anticipated from increasing government and private sector spending, and the continued shift toward small and medium-lift satellites. The rise of satellite mega-constellations and the drive for reusable launch vehicles will also be critical drivers for future product innovation and market expansion.

Market Analysis from The Insight Partners

“The global demand for advanced satellite capabilities has made robust propulsion systems indispensable,” stated The Insight Partners. “Innovations in both cost-effectiveness and propulsion efficiency are not just propelling market growth, but are fundamentally redefining the operational paradigms of modern space missions.”

About The Insight Partners

The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, and Chemicals and Materials.

Contact Us

• Email: sales@theinsightpartners.com
• Website: www.theinsightpartners.com
• Phone: +1-646-491-9876 
• Also Available in : 日本 | 한국어 | Français | لعربية< | 中文 | Italiano | Español | Deutsch