Dublin, Oct. 29, 2021 (GLOBE NEWSWIRE) -- The "LEO-focused Satellite Propulsion Technology Market - A Global and Regional Analysis: Focus on End User, Application, Propulsion Type, Satellite Mass, Component, Orbit, Propellant Type and Country - Analysis and Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global LEO-focused satellite propulsion technology market is expected to reach $13,212.7 million by 2031, with a CAGR of 6.98% during the forecast period 2021- 2031. The increasing number of satellite constellations for applications such as communication, technology development, Earth observation, and remote sensing is expected to be the major driving factors for the market. In addition, increasing demand for building efficient propulsion systems s at low cost are key drivers for the growth of the global LEO-focused satellite propulsion technology market.
Market Growth Drivers
- Rising Demand for Smaller Telecom and Commercial Earth Observation Satellites in Low Earth Orbit (LEO)
- Technology Advancement Toward Building Low-Cost and Efficient Propulsion System for Satellites
Market Challenges
- Growing Concern on Risk Posed by Orbital Space Debris from Use of Satellite Mega Constellations
Market Opportunities
- Move Toward Creating Viable Business Activities from Non-Toxic or Green (Environment Friendly) Space Propellants
Key Questions Answered in the Report
- What are the futuristic trends in this market, and how is the market expected to change over the forecast years, 2021-2031?
- What are the key drivers and challenges faced by the companies currently working in the global LEO-focused satellite propulsion technology market?
- How is the LEO-focused satellite propulsion technology market expected to grow during the forecast period 2021-2031?
- What are the opportunities for the companies to expand their businesses in the global LEO-focused satellite propulsion technology market?
- Which region is expected to lead the global LEO-focused satellite propulsion technology market by 2031?
- What are the key developmental strategies implemented by the key players to sustain in this highly competitive market?
- What is the current and future revenue scenario of this market?
- What is the competitive scenario of the key players in the global LEO-focused satellite propulsion technology market?
- What are the emerging technologies that the key companies are focusing on to increase their market share?
- What are the strengths and weaknesses of the companies that are influencing the growth of the market?
Currently, many space agencies and commercial companies across the globe have been focusing on developing low Earth orbit (LEO) satellite constellations. This will drive the market for the propulsion system. Moreover, rising research and development activities to develop cost-efficient propulsion technologies and advancements in 3D printing technology for developing the components of satellite propulsion systems are other factors contributing to the growth of the LEO-focused satellite propulsion technology market.
Key Topics Covered:
1 Markets
1.1 Industry Outlook
1.2 Current and Emerging Technological Trends
1.3 Ongoing and Upcoming Projects
1.4 Start-Ups and Investment Scenario
1.5 Supply Chain Analysis
1.6 Business Dynamics
1.6.1 Business Drivers
1.6.1.1 Rising Demand for Smaller Telecom and Commercial Earth Observation Satellites in Low Earth Orbit (LEO)
1.6.1.2 Technology Advancement Toward Building Low-Cost and Efficient Propulsion System for Satellites
1.6.2 Business Challenges
1.6.2.1 Growing Concern on Risk Posed by Orbital Space Debris from Use of Satellite Mega Constellations
1.6.3 Business Opportunities
1.6.3.1 Move Toward Creating Viable Business Activities from Non-Toxic or Green (Environment Friendly) Space Propellants
1.7 Business Strategies
2 Application
2.1 LEO-focused Satellite Propulsion Technology Market (by End User)
2.2 LEO-focused Satellite Propulsion Technology Market (by Application)
3 Products
3.1 Global LEO-focused Satellite Propulsion Technology Market (by Propulsion Type)
3.3 LEO-focused Satellite Propulsion Technology Market (by Satellite Mass)
3.4 LEO-focused Satellite Propulsion Technology Market (by Orbit)
3.5 LEO-focused Satellite Propulsion Technology Market (by Component)
3.6 LEO-focused Satellite Propulsion Technology Market (by Propellant Type)
4 Regions
5 Markets - Competitive Benchmarking & Company Profiles
- Airbus S.A.S
- Ariane Group
- Aerojet Rocketdyne (Acquired by Lockheed Martin Corp.)
- Busek Co Inc.
- CU Aerospace
- IHI Corporation
- Lockheed Martin Corporation
- L3Harris Technologies, Inc.
- Moog Inc.
- Nano Avionics
- Northrop Grumman Corporation
- OHB SE
- Safran
- Space Exploration Technologies Corp. (SpaceX)
- Thales Group
For more information about this report visit https://www.researchandmarkets.com/r/e444rb
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