Space Propulsion System Market Size, Growth, Analysis and CAGR 14.3% by 2031

Space Propulsion System Market by Type, by Class of Orbit, by End User : Global Opportunity Analysis and Industry Forecast, 2021-2031.

WILMINGTON, DE, UNITED STATES, November 13, 2025 /EINPresswire.com/ -- The global space propulsion system industry generated $8.9 billion in 2021, and is projected to reach $32.8 billion by 2031, growing at a CAGR of 14.3% from 2022 to 2031.

The propulsive force is the most important factor in the design and operation of aircraft or spacecraft missions. The propulsion system provides the propulsive force or power required to propel rocket, or other vehicle moving through air or space forward. Fuel tanks, valves, propellant assembly, pressure regulator, thrusters, manifold subsystems, and regulators are all part of the space propulsion system. Several distinct propulsion methods are utilized by several space organizations throughout the world due to the presence of a diverse spectrum of spacecraft and satellites. The usage of a rocket engine or integrated propulsion systems is used for spacecraft and satellite propulsion.

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The space propulsion system market has witnessed significant growth in recent years, owing to the development of advanced space propulsion system by key market players. For instance, in July 2021, Sierra Nevada Corporation developed and completed testing of its hypergolic, or storable, liquid rocket propulsion system for orbit transfer, maneuvering, and guidance control.

Rise in demand for low earth orbit-based services, surge in space exploration missions, and increase in demand for satellite data have boosted the growth of the global space propulsion system market. However, issues regarding space debris and increase in emission due to number of space launches hinder the market growth. On the contrary, surge in demand for advanced electric propulsion system and nanomaterial-based space propulsion systems would open new opportunities in the future.

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Covid-19 scenario:

The Covid-19 outbreak forced governments to impose strict regulations regarding lockdown and ban import-export of raw materials. This led to sudden fall in the availability of raw materials for manufacturing space propulsion systems.
The prolonged lockdown disrupted the supply chain and created delays in activities regarding development of space propulsion systems.

Increase in demand for low earth orbit-based services, rise in space exploration missions, and surge in demand for satellite data are expected to drive space propulsion system market during the forecast period. However, Concerns over space debris and Heightened emissions due to rise in number of space launches is anticipated to hamper the growth of the market. Moreover, demand for advanced electric propulsion systems and advances of nanomaterial-based space propulsion systems are expected to offer lucrative opportunities for the market in future.

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Key market players

Accion Systems
ArianeGroup
IHI Corporation
Moog Inc.
Mitsubishi Heavy Industries, Ltd.
Northrop Grumman Corporation
OHB SE
Sierra Nevada Corporation
Thales Group
Vacco Industries

By region, the market across North America held the largest share in 2021, accounting for more than half of the market, as U.S. launches thousands of satellites annually. However, the global space propulsion system market size across Asia-Pacific is anticipated to register the highest CAGR of 17.0% during the forecast period, due to increase in space programs across various nations such as China, India, South Korea, and Japan.

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David Correa
Allied Market Research
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