The global satellite propulsion systems market is expected to grow at a CAGR of over 4% during the forecast period, 2017-2021.
Technavio has announced its latest market research report on the global satellite propulsion systems market, under its space portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Aerojet Rocketdyne, Airbus, Bellatrix Aerospace, Boeing, OHB, and Safran.
According to Moutushi Saha, a lead analyst for space research at Technavio, “The cost of building a nano or microsatellite is almost nil in comparison with traditional satellites. A constellation of such satellites can be used to provide low-cost solutions, which would otherwise account to a significant amount. Most of the cost comes from the cost to propel a satellite. The emergence of low-cost launch services for nano and microsatellites helps to further lower the launch cost.”
The launch of nano and microsatellites helps bring down the satellite propulsion costs, which is an overall boost for the global satellite industry. Furthermore, such satellites can enable missions that are not feasible with the larger satellites, such as inspection of the larger satellites in orbit, gathering data from multiple points, lower data rate communications, and space-based research.
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Rapid deployment of CubeSats
Many of the developing nations have shown a keen interest in the utilization of satellites such as CubeSats (U-class spacecraft). These satellites use enhanced electro-optical/infrared (EO/IR) sensor systems to capture the images of Earth. For example, in 2016, Aerojet Rocketdyne entered into an agreement with NASA to develop an MPS-130 CubeSat propulsion system using a green propellant called AF-M315E. This propulsion system is anticipated to enhance the maneuverability of the CubeSats and provide high-performance satellite characteristics when compared with the traditional hydrazine propellant.
Use of green propulsive technologies
Several initiatives are being undertaken by the global space agencies and satellite operators to reduce the dependence on chemical-powered propulsion systems. For example, in recent years, NASA has been increasingly working with the private industry partners to launch a spacecraft, which will use high-performance and non-toxic green fuel. The initiative is being funded under NASA’s Green Propellant Infusion Mission (GPIM) program and is scheduled to launch by mid-2017.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Satellite Propulsion System Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Electric Propulsion Satellite Market 2017-2021
- Global Low-Cost Satellite Market 2017-2021
- Global Commercial Satellite Imaging Market 2017-2021
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