North America Satellite Propulsion Market

The North America satellite propulsion market was valued at US$ 3,196.51 million in 2023 and is expected to reach US$ 9,307.63 million by 2031; it is estimated to register a CAGR of 14.3% from 2023 to 2031.

Growing Initiatives to Launch Space Landers, Spacecraft, and Space Tugs Fuel North America Satellite Propulsion Market

The global space sector is driven by rising demand from services such as earth observation, satellite communications, and positioning timing and navigation. The space sector is witnessing the growing presence of private players and experiencing heightened demand arising from the need for information related to space. Constellations of small satellites in Low Earth Orbit are a major part of this movement, known as NewSpace. In February 2024, a lunar lander took off for the moon to make the first US landing. SpaceX also launched the private Odysseus lander Falcon 9 rocket as the US lander took off for the moon. In March 2024, Blue Origin announced to launch Blue Moon lunar lander in 2025. In March 2024, SpaceX launched a Starship rocket into orbit on a test flight. Thus, the growing number of initiatives toward space landers, spacecraft, and space tugs propels the growth of the satellite propulsion market.

North America Satellite Propulsion Market Overview

The rise in satellite launches, as well as product development, are a few of the major drivers for the North America satellite propulsion market. The US is leading the North America satellite propulsion market owing to the wide presence of satellite propulsion system manufacturers and governments' growing focus on advancing the space sector. Northrop Grumman Corporation, Moog Inc., and AQST Canada Inc., among others, are offering satellite propulsion solutions in North America. Further, product innovation and major developments such as collaboration and mergers are anticipated to propel the North America satellite propulsion market growth over the forecast period. The Government of Canada is also focusing on initiatives toward establishing new regulations and support policies for the space sector. In 2023, the Government of Canada announced a multi-year plan to support the privately built rocket launch initiatives in the country.

North America Satellite Propulsion Market Revenue and Forecast to 2031 (US$ Million)

North America Satellite Propulsion Strategic Insights

Strategic insights for the North America Satellite Propulsion provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Satellite Propulsion Report Scope

North America Satellite Propulsion Regional Insights

The geographic scope of the North America Satellite Propulsion refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

North America Satellite Propulsion Market Segmentation

The North America satellite propulsion market is categorized into propulsion type, system type, application, satellites, orbit type, and country. 

Based on propulsion type, the North America satellite propulsion market is segmented solid propulsion, cold gas propulsion, green propulsion, electric propulsion, and ambipolar propulsion. The electric propulsion segment held the larger market share in 2023.

In terms of system type, the North America satellite propulsion market is categorized into monopropellant, bipropellant, and electric ion propulsion. The electric ion propulsion segment held the largest market share in 2023.

By application, the North America satellite propulsion market is segmented into launchers, spacecraft, satellites, space tugs, and landers. The private segment held the largest market share in 2023. The satellites is further sub segmented into Below 500 Kg, 500-1000 Kg, Above 1000 Kg.

In terms of orbit type, the North America satellite propulsion market is categorized into LEO, MEO and GEO, and beyond GEO. The LEO segment held the largest market share in 2023.

By country, the North America satellite propulsion market is bifurcated into the US and Canada. The US dominated the North America satellite propulsion market share in 2023.

Moog Inc, Thales SA, Safran SA, Northrop Grumman Corp, Airbus SE, IHI Corp, and ArianeGroup are some of the leading companies operating in the North America satellite propulsion market.