New
York, 7 Nov 2019: The Global Satellite Propulsion
System Market Size Worth $29.9 Billion By 2026 according to a new market
research report by Polaris market research.In 2017, the chemical propulsion
segment dominated the global market, in terms of revenue. In 2017, North America
accounted for the majority share in the global Satellite propulsion system
market.
The growing
adoption of small satellites for commercial applications owing to its low cost
and light weight supports the Satellite Propulsion System Market growth.
Growing use of satellites in defense sector would boost the growth of this
market. Technological advancement in terms of miniaturization of components,
and associated software has encouraged established organizations, and small and
medium enterprises to invest in small satellites, thereby supporting market
growth.
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The increasing deployment of satellites in commercial
applications such as remote sensing, earth observation, and technology
development, and rising deployment of Cubesats fuels the growth of the
Satellite Propulsion System Market. Growth in space expeditions, rising need
for long range missiles, increasing military expenditure worldwide, and
technological advancements are expected to provide growth opportunities during
the forecast period.
The North
America Satellite Propulsion System Market is expected to dominate throughout
the forecast period. Rise in applications of satellites in agriculture, real
estate, defense, and government sectors in this region is the major driver for
market growth. The affordable price of small satellites also accelerates the
penetration in the commercial sector. Rise in investment in the defense sector,
along with technological advancement is expected to drive the market growth
during the forecast period.
Browse Complete summary of this
report with TOC on “Satellite Propulsion System Market by Application and End
User – Global Industry Analysis and Forecast to 2026” at: https://www.polarismarketresearch.com/industry-analysis/satellite-propulsion-system-market
Major Key Players:
The leading
companies profiled in the Satellite Propulsion System Market report include
Ball Aerospace & Technologies Corp., Thales Group, Safran S.A, Mitsubishi
Electric Corporation, Airbus Defense and Space, Airbus Defense and Space, The
Boeing Company, Orbital ATK Inc., Aerojet Rocketdyne, OHB System AG, Bellatrix
Aerospace, and Northrop Grumman Corporation among others. These companies
launch new products and collaborate with other market leaders to innovate and
launch new products to meet the increasing needs and requirements of consumers.
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