Market Overview:
The global solar electric propulsion (SEP) market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for nano and microsatellites, rising investments in space exploration, and technological advancements in SEP systems. Based on type, the global solar electric propulsion (SEP) market is segmented into hall effect thruster (HET), pulsed plasma thruster (PPT), and others. HET held a major share of the market in 2017 and is expected to maintain its dominance during the forecast period. PPT is projected to be one of the fastest-growing segments owing to its high efficiency and low cost as compared with other types of SEP systems. Based on application, nano satellites accounted for a majority share of the global solar electric propulsion (SEP) market in 2017. This segment is projected to grow at a CAGR of XX% during 2018-2030 owing to an increase in demand for small satellites for earth observation, communication, navigation, scientific research & development etc., across various regions worldwide.
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Product Definition:
Solar Electric Propulsion (SEP) is a spacecraft propulsion system that uses solar energy to propel a spacecraft. SEP systems are important for deep space missions because they are more efficient than traditional chemical propulsion systems and can provide greater payload capacity.
Hall Effect Thruster (HET):
The Hall Effect Thruster (HET) is a type of electric propulsion system which utilizes the interaction between magnetic fields and electric currents to generate propulsion in spacecraft. The basic working principle behind HET is that the direction of current changes with changing magnetic field, thus providing propulsive force. In comparison to chemical rockets, HET can provide higher specific impulse and exhaust less propellant; however, it requires more energy for vehicle operation.
Pulsed Plasma Thruster (PPT):
PPT is a low-cost, high-power electric propulsion technology that uses plasma as a propellant. It has the potential to propel spacecraft to higher velocities and greater distances than conventional chemical propulsion systems. PPT can be used in both SEP and non-SEP missions with minimal design variations.
Application Insights:
Nanosatellite application segment accounted for the largest share of over 30% in 2017. This is attributed to growing interest in space exploration and increasing government expenditure on space programs. For instance, Nanoracks LLC designed and built a satellite named DSS-1 that was propelled by SEP system in collaboration with researchers from The University of Texas at Austin.
Microsatellite is a small spacecraft typically weighing less than 500 kilograms capable of delivering payloads ranging from scientific instruments to communications satellites into orbit around Earth. Growing miniaturization of electronic devices has led to increased demand for highly efficient energy sources, especially throughout spacewalks undertaken by astronauts at the International Space Station (ISS). Thus, microsatellites are expected to witness significant growth owing to their ability provide power during spacewalks as well as serve as platforms for delivering payloads into orbits around Earth.
Regional Analysis:
The North America regional market is anticipated to dominate the global industry over the forecast period. The growth can be attributed to increasing space activities in U.S., which has resulted in increased funding for innovative space technologies, including SEP systems. Furthermore, growing demand for small satellites from various applications such as Earth observation and communication is expected to drive the regional market growth over the forecast period.
Asia Pacific region accounted for a revenue share of more than 25% in 2017 owing to increasing government initiatives towards development of space infrastructure and technology across countries such as India, Japan, China and South Korea; hence resulting into high adoption rates of solar electric propulsion systems across this region. For instance, Indian Space Research Organisation (ISRO) launched its first satellite using Hall Effect thruster system developed by ISRO’s Laboratory Astrophysics Group (AG).
Growth Factors:
- Increasing demand for space exploration and satellite launches: The global SEP market is expected to grow at a CAGR of more than 15% from 2016 to 2021, owing to the increasing demand for space exploration and satellite launches.
- Government initiatives supporting the development of SEP technology: Governments across the globe are investing in R&D initiatives to develop advanced SEP technologies, which is expected to boost the growth of the market during the forecast period.
- Rising demand for electric vehicles: The growing popularity of electric vehicles is expected to create opportunities for SEP systems in the automotive sector over the next few years.
- Development of new materials and technologies: Key players are investing in R&D activities to develop new materials and technologies that can improve performance and reduce costs associated with SEP systems, thereby driving market growth.
Scope Of The Report
Report Attributes
Report Details
Report Title
Solar Electric Propulsion (SEP) Market Research Report
By Type
Hall Effect Thruster (HET), Pulsed Plasma Thruster (PPT), Others
By Application
Nano Satellite, Microsatellite, Others
By Companies
Aerojet Rocketdyne, QinetiQ, Northrop Grumman
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
191
Number of Tables & Figures
134
Customization Available
Yes, the report can be customized as per your need.
Global Solar Electric Propulsion (SEP) Market Report Segments:
The global Solar Electric Propulsion (SEP) market is segmented on the basis of:
Types
Hall Effect Thruster (HET), Pulsed Plasma Thruster (PPT), Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Nano Satellite, Microsatellite, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Aerojet Rocketdyne
- QinetiQ
- Northrop Grumman
 Market Overview.svg)
Highlights of The Solar Electric Propulsion (SEP) Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Hall Effect Thruster (HET)
- Pulsed Plasma Thruster (PPT)
- Others
- By Application:
- Nano Satellite
- Microsatellite
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Solar Electric Propulsion (SEP) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
 Market Statistics.svg)
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Solar Electric Propulsion (SEP) is a technology that uses the power of the sun to propel spacecraft. Solar panels convert sunlight into electricity, which is then used to generate thrust.
Some of the major players in the solar electric propulsion (sep) market are Aerojet Rocketdyne, QinetiQ, Northrop Grumman.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Solar Electric Propulsion (SEP) Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Solar Electric Propulsion (SEP) Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Solar Electric Propulsion (SEP) Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Solar Electric Propulsion (SEP) Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Solar Electric Propulsion (SEP) Market Size & Forecast, 2020-2028
4.5.1 Solar Electric Propulsion (SEP) Market Size and Y-o-Y Growth
4.5.2 Solar Electric Propulsion (SEP) Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Hall Effect Thruster (HET)
5.2.2 Pulsed Plasma Thruster (PPT)
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Nano Satellite
6.2.2 Microsatellite
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Solar Electric Propulsion (SEP) Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Solar Electric Propulsion (SEP) Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Hall Effect Thruster (HET)
9.6.2 Pulsed Plasma Thruster (PPT)
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Nano Satellite
9.10.2 Microsatellite
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Hall Effect Thruster (HET)
10.6.2 Pulsed Plasma Thruster (PPT)
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Nano Satellite
10.10.2 Microsatellite
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Hall Effect Thruster (HET)
11.6.2 Pulsed Plasma Thruster (PPT)
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Nano Satellite
11.10.2 Microsatellite
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Hall Effect Thruster (HET)
12.6.2 Pulsed Plasma Thruster (PPT)
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Nano Satellite
12.10.2 Microsatellite
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Hall Effect Thruster (HET)
13.6.2 Pulsed Plasma Thruster (PPT)
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Nano Satellite
13.10.2 Microsatellite
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Solar Electric Propulsion (SEP) Market: Competitive Dashboard
14.2 Global Solar Electric Propulsion (SEP) Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Aerojet Rocketdyne
14.3.2 QinetiQ
14.3.3 Northrop Grumman
