Electric Propulsion Systems For Rockets Market to Expand at a 16.5% CAGR by 2029, Reaching US $1.46 Billion

Electric Propulsion Systems For Rockets Global Market Report 2025

The Business Research Company's Electric Propulsion Systems For Rockets Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034

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How Much Is The Electric Propulsion Systems For Rockets Market Worth?
The market for electric propulsion systems for rockets has witnessed significant expansion in the past few years. The market size is projected to increase from $0.67 billion in 2024 to about $0.79 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 16.9%. Several factors contribute to this historical growth, including increased defense expenditure on technologies oriented towards space, governmental backing for programs seeking deep space exploration, heightened funding by space agencies, military enthusiasm towards maneuverable satellite platforms, and the emphasis on electric propulsion within national space policies.

It is projected that the market for electric propulsion systems for rockets will experience a swift expansion in the coming years, reaching a value of $1.46 billion by 2029 with a 16.5% compound annual growth rate (CAGR). The anticipated growth during the forecast period is due to various factors such as the increase in commercial investments in reusable launch systems, the surge in small satellite deployments, amplified demands for satellite constellations, heightened CubeSat missions that necessitate propulsion for orbital adjustment, and an increased necessity for in-orbit servicing and refueling missions. The forecast period is also characterised by the rise in efficiency of ion and hall effect thrusters, the downsizing of electric propulsion components, progress in plasma propulsion technology, the genesis of modular propulsion systems, and the merge of artificial intelligence in propulsion management.

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What Are The Factors Driving The Electric Propulsion Systems For Rockets Market?
The projected growth in the electric propulsion systems market for rockets is likely to be fueled by the escalating number of satellite launches. This term refers to the action of propelling satellites into space with the aid of launch vehicles to place them into their intended orbits for operational use. The frequency of satellite launches is growing due to an escalating demand for universal connectivity, with an increased dependence on internet usage, communication services, and data transfer prompting the necessity for additional satellite networks in orbit. This amplification in satellite launches bolsters the need for electric propulsion systems for rockets, as the increase in satellites in orbit necessitates effective, long-term propulsion for station maintenance, orbit elevation, and manoeuvring, which electrically powered systems provide through optimal fuel efficiency and exact control. For example, data from the UK's National Space Operations Centre (NSpOC), a body dedicated to space tracking and protection, showed that there were over 9,000 operational satellites in orbit by April 2024. This figure is predicted to surge to above 60,000 by 2030. Consequently, the rising number of satellite launches is likely to stimulate the escalation of the electric propulsion systems market for rockets.

Who Are The Major Players In The Electric Propulsion Systems For Rockets Market?
Major players in the Electric Propulsion Systems For Rockets Global Market Report 2025 include:

• Airbus SE

• Northrop Grumman Corp.

• Safran SA

• Thales Group

• L3Harris Technologies Inc.

• IHI Corporation

• Moog Inc.

• ArianeGroup SAS

• OHB System AG

• Sierra Nevada Corporation

What Are The Key Trends And Market Opportunities In The Electric Propulsion Systems For Rockets Sector?
Top firms in the rocket electric propulsion systems market are concentrating on innovating more sophisticated solutions, for example, electric propulsion thrusters, which allow for accurate and consistent thrust control. These electric propulsion thrusters, which use electric energy to speed up a propellant and generate thrust, aid spacecrafts in efficient space navigation. To exemplify, Benchmark Space Systems, an American in-space mobility provider, unveiled the Xantus electric propulsion system in March 2024. The Xantus system is unique as it uses solid metal to create a plasma plume which is electrically sped up to produce thrust. It is specially designed for smaller spacecraft such as CubeSats and microsatellites. This system is only used in-space, supporting operations like orbital alterations, position maintenance and safe deorbiting. While it does not assist in launch functions, it plays a critical role in the maneuverability of the satellite once it is in orbit.

Which Segment Accounted For The Largest Electric Propulsion Systems For Rockets Market Share?
The electric propulsion systems for rockets market covered in this report is segmented –
1) By Type: Electrothermal, Electrostatic, Electromagnetic
2) By Application: Commercial, Military, Scientific
3) By End-User: Satellite Operators, Space Agencies, Defense Organizations, Other End-Users

Subsegments:
1) By Electrothermal: Resistojets, Arcjets, Microwave Electrothermal Thrusters (METs)
2) By Electrostatic: Gridded Ion Thrusters, Hall Effect Thrusters, Colloid Thrusters
3) By Electromagnetic: Magnetoplasmadynamic (MPD) Thrusters, Pulsed Plasma Thrusters (PPTs), Field-Reversed Configuration Thrusters (FRCs)

View the full electric propulsion systems for rockets market report:
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What Are The Regional Trends In The Electric Propulsion Systems For Rockets Market?
In 2024, North America led the global market for electric propulsion systems for rockets. The anticipated growth status is also included for this region. The compact and precise report also incorporates regions such as Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.

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