Global Space-Qualified Propellant Tank Industry Research 2023-2033: Burgeoning Opportunities in Modular and Reusable Propellant Tank Systems and Increasing Deep Space Missions

Dublin, April 29, 2024 (GLOBE NEWSWIRE) -- The "Global Space-Qualified Propellant Tank Market: Focus on Platform, End User, Material, Manufacturing Process, Propellant Tank and Country - Analysis and Forecast, 2023-2033" report has been added to's offering.

Space-qualified propellant tanks market is projected to reach a value of $3.43 billion by 2033 from $1.75 billion in 2033, growing at a CAGR of 6.9%

The global space-qualified propellant tank market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture. In 2022, the global space-qualified propellant tank market was dominated by established players, accounting for 71% of the market share, whereas start-ups managed to capture 29% of the market.

The space-qualified propellant tank market is a highly specialized sector within the aerospace industry, focusing on the production and supply of propellant storage solutions for spacecraft and satellite operations. This market caters to a wide range of applications, from commercial satellite constellations and government space missions to deep space exploration ventures. It is driven by the critical need for reliable, efficient, and safe storage of propellants that power the thrusters and engines essential for maneuvering and operating spacecraft in the vacuum of space.

Over the years, advancements in materials science and engineering have led to the development of tanks that can withstand extreme temperatures, pressures, and the corrosive nature of various propellants. Manufacturers such as Benchmark Space Systems and institutions such as the Lukasiewicz Institute of Aviation have been at the forefront of innovating propulsion systems that utilize high-test peroxide (HTP) and other green propellants, aiming to reduce the environmental impact of space missions.

As the global space economy continues to expand, with increasing numbers of large satellite launches and ambitious exploration missions to the Moon, Mars, and beyond, the demand for space-qualified propellant tanks is experiencing significant growth. This growth is further amplified by the emergence of new space-faring nations and private space companies, each contributing to a more crowded and competitive arena both in Low Earth Orbit (LEO) and in deeper space.

The market encompasses a variety of propellant tank types designed to store both traditional and green propellants. Traditional propellants include hydrazine and nitrogen tetroxide, while green propellants such as Hydroxylammonium Nitrate Fuel Blend (AF-M315E) and LMP-103S offer the promise of reduced environmental impact and enhanced safety for ground operations. Manufacturers are constantly seeking new materials and design approaches to create tanks that are lighter, more durable, and capable of withstanding the extreme conditions of space. These innovations not only improve the performance and reliability of space missions but also contribute to reducing the overall cost of access to space.

Furthermore, the push toward in-space manufacturing and refueling stations, along with the development of reusable spacecraft, is creating new opportunities and challenges for the space-qualified propellant tank market. The ability to refuel spacecraft in orbit or on other celestial bodies could dramatically change the logistics and economics of space exploration, requiring tanks that are not only reliable over longer missions but also compatible with in-space propellant transfer technologies.

Market Segmentation:

Launch Vehicle Segment to Dominate the Global Space-Qualified Propellant Tank Market (by Platform)

The launch vehicle segment in the space-qualified propellant tank market is leading due to several driving factors. The increasing number of satellite launches and the development of satellite constellations for various purposes, including communication, Earth observation, navigation, and tracking, are major contributors to this trend. Launch vehicles require specialized propellant tanks to store fuel or oxidizer for rocket stages, and the demand for lightweight, efficient propellant tanks is on the rise to enhance the performance of these vehicles.

Carbon Fiber Composites Segment to Dominate the Global Space-Qualified Propellant Tank Market (by Material)

The carbon fiber composites segment had the highest market penetration in 2022. The carbon fiber composites reported revenue of $423.6 million in 2022 and is expected to grow at a CAGR of 7.06% during the forecast period 2023-2033.

Key Attributes:

Report AttributeDetails
No. of Pages121
Forecast Period2023 - 2033
Estimated Market Value (USD) in 2023$1.75 Billion
Forecasted Market Value (USD) by 2033$3.43 Billion
Compound Annual Growth Rate6.9%
Regions CoveredGlobal

Market Dynamics Overview

Trends: Current and Future Impact Assessment

  • Increasing Focus on Sustainability
  • On-Orbit Servicing and Refueling Technologies

Market Drivers

  • Advancements in Materials and Manufacturing Processes
  • Increasing Deployment of Satellite Constellation

Market Restraints

  • Risk of Orbital Debris Colliding with Propellant Tanks

Market Opportunities

  • Modular and Reusable Propellant Tank Systems
  • Increasing Deep Space Mission

New Space Business Scenario: An Emerging Opportunity for the Space-Qualified Propellant Tank Market

  • Growth in Small Satellite Market
  • Growth in Small Launch Vehicle Market

Regulatory Landscape (by Country)

  • U.S.
  • U.K.
  • France
  • Germany
  • India
  • China
  • Russia

Ecosystem/Ongoing Programs

  • The ASTRIS Mission
  • SpaceTank Project

Space-Qualified Propellant Tank Manufacturers and Standards

Start-Ups and Investment Landscape

Supply Chain Overview

Competitive Benchmarking & Company Profiles

  • Airbus S.A.S.
  • AdamWorks LLC
  • Ariane Group
  • Busek Co. Inc.
  • Infinite Composite Technologies
  • IHI Aerospace Co., Ltd.
  • Lockheed Martin Corporation
  • Microcosm, Inc.
  • Moog Inc.
  • OHB SE
  • Northrop Grumman Corporation
  • Nammo AS
  • Peak Technology
  • Phase Four
  • Stelia Aerospace North America Inc.

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Global Space-Qualified Propellant Tank Market

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