Market Overview:
The global solar electric propulsion systems market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for nano and microsatellites, rising investments in space exploration, and technological advancements in solar electric propulsion systems. Based on type, the global solar electric propulsion systems market is segmented into Hall Effect Thruster (HET), Pulsed Plasma Thruster (PPT), and others. HET held the largest share of the market in 2017 owing to its high efficiency and low cost. PPT is expected to grow at a higher CAGR during the forecast period as it offers advantages such as high specific impulse, long operational life, and low power consumption. Based on application, the global solar electric propulsion systems market is segmented into nano satellite, microsatellite, and others. Nano satellites are projected to witness highest growth during the forecast period due their small size which allows them to be launched using smaller launch vehicles as well as their lower costs compared with traditional satellites.
Product Definition:
Solar electric propulsion systems are spacecraft that use solar arrays to convert sunlight into electrical power. This power is then used to operate electric thrusters, which provide the thrust needed to propel the spacecraft. Solar electric propulsion systems are important because they allow spacecraft to travel large distances without having to carry a lot of fuel. This makes them ideal for missions that require a lot of travel time, such as journeys to Mars or beyond our solar system.
Hall Effect Thruster (HET):
The Hall Effect Thruster (HET) is a type of electric propulsion system which utilizes the effect of magnetic field for propelling the vehicle. It's different from conventional electric propulsion systems in that it uses direct current to provide high speed and efficiency. The HET uses an electrical circuit within its combustion chamber, this causes a spark when the fuel is added resulting in engine ignition. This engine produces minimal emissions and has no moving parts making it more efficient than conventional internal combustion engines.
Pulsed Plasma Thruster (PPT):
The global PPT market size was valued at USD 1.6 billion in 2016 and is expected to witness a CAGR of XX% over the forecast period. Increasing demand for clean energy, reduction in emissions & fuel consumption, and growing focus on reducing the cost of space travel are some factors driving the growth of this industry globally.
Application Insights:
Nano satellites are anticipated to emerge as the fastest-growing segment over the forecast period owing to increasing government funding for research and development in space exploration. The Nano satellite application segment was valued at USD 281.0 million in 2017 and is expected to witness significant growth during the forecast period, with a CAGR of XX% from 2018 to 2030.
The others segment includes ion thrusters, Hall effect thrusters, thermal batteries, solar electric propulsion systems and magnetic sails among others.
Regional Analysis:
The North America regional market accounted for the largest revenue share in 2017. The U.S., which is at the forefront, dominates this region due to a large number of space missions and other initiatives undertaken by NASA and other government space agencies in collaboration with private companies. For instance, NASA has a partnership with Space Florida that helps promote commercialization of space technology in the state through investments in R&D activities, industry promotion programs, and technology transfer initiatives.
Asia Pacific is expected to be one of the most lucrative regions over the forecast period owing to increasing government spending on developing satellite technologies as well as an increase in commercial activities pertaining to earth observation satellites used for disaster management purposes among others.
Growth Factors:
- Increasing demand for space exploration and research
- Growing investments in space infrastructure
- Proliferation of small satellites and CubeSats
- Development of advanced solar electric propulsion systems
- Reduction in the cost of solar electric propulsion systems
Scope Of The Report
Report Attributes
Report Details
Report Title
Solar Electric Propulsion Systems 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
123
Number of Tables & Figures
87
Customization Available
Yes, the report can be customized as per your need.
Global Solar Electric Propulsion Systems Market Report Segments:
The global Solar Electric Propulsion Systems 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
Highlights of The Solar Electric Propulsion Systems 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 Systems 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
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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 systems are a type of spacecraft propulsion system that uses the power of the sun to move objects. Solar electric propulsion systems use solar panels to convert sunlight into energy that can be used to propel an object forward.
Some of the major players in the solar electric propulsion systems 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 Systems 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 Systems Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Solar Electric Propulsion Systems 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 Systems 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 Systems Market Size & Forecast, 2020-2028 4.5.1 Solar Electric Propulsion Systems Market Size and Y-o-Y Growth 4.5.2 Solar Electric Propulsion Systems 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 Systems 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 Systems 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 Systems Market: Competitive Dashboard
14.2 Global Solar Electric Propulsion Systems 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