Space Propulsion Companies

The Space Propulsion market is estimated in terms of market size to be USD 10.21 billion in 2024 to USD  20.02 billion by 2030,  at a CAGR of 11.9%. The Space Propulsion market is experiencing significant growth due to increasing satellite and launch vehicles deployments, advancements in propulsion technology, which has increased the demand for advanced propulsion technologies which  offer higher efficiency and thereby contributing to the growth of the Space Propulsion market.

Northrop Grumman (US), Safran SA (France), SpaceX (US), L3Harris Technologies, Inc. (US), IHI Corporation (Japan), Thales Alenia Space (France), Airbus (France), Lockheed Martin Corporation (US), OHB SE (Germany), Boeing (US), Moog Inc. (US), IHI Corporation (Japan), and Dawn Aerospace (Netherlands) are the top companies in the market. These companies, to strengthen their position in the market, have implemented various growth strategies, like investments, collaborations & expansions, contracts, partnerships, and agreements related to Space Propulsion.

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Major Space Propulsion companies include:

• Northrop Grumman (US)
• Safran SA (France)
• SpaceX (US)
• L3Harris Technologies, Inc. (US)
• IHI Corporation (Japan)
• Thales Alenia Space (France)
• Airbus (France)
• Lockheed Martin Corporation (US)
• OHB SE (Germany)
• Boeing (US)
• Moog Inc. (US)
• Dawn Aerospace (Netherlands)

Northrop Grumman (US)

Northrop Grumman is a top aerospace and defense company that develops and supports leading-edge technologies. Its products range from next-generation spacecraft, aircraft, cybersecurity systems, and radar solutions. In terms of the business, it contributes to the development of space exploration and scientific space missions, divided into four major business sectors: Space Systems, Aeronautics Systems, Mission Systems, and Defense Systems. Northrop Grumman maintains offices and conducts business activities across Europe, Asia Pacific, and the Middle East.

Northrop Grumman's leading-edge technology has put thousands of innovations in orbit, the Moon, and beyond. Among other areas of expertise, this company focuses on systems engineering, spacecraft manufacturing, precision sensors, space instrument design, ground station development, and launch vehicle improvements.Its propulsion systems power Pegasus, Minotaur, and Antares rockets, as well as Delta IV and commercial launch vehicles. Northrop Grumman also supplies critical spaceflight components, such as rocket motors and booster subcomponents, to major clients, including U.S. government agencies. The company currently supplies 5-segment boosters for NASA's Space Launch System (SLS) and the primary launch-abort motor and attitude control motor for the Orion Crew Vehicle's Launch Abort System (LAS).

Safran SA (France)

Safran SA is a leading aerospace and defense prime contractor on the international scene with a strong footprint in space propulsion, especially in civil and military missile chemical and electric propulsion systems. With headquarters in France, the company has subsidiaries such as Safran Aero Boosters, Safran Electronics & Defense, and ArianeGroup, which is a joint venture with Airbus that plays a very crucial role in the European space program. Safran is one of the major contributors to the entire Ariane vehicle series through its high-performance propulsion components like rocket engines, shut-off valves, and flow control systems designed for satellite launches and deep-space missions. In propulsion technology, the company has pioneered new ways to insert satellites in orbit, keep them in their assigned station, and deorbit them at the end of their lives.

IHI Corporation (Japan)

IHI Corporation has established a significant presence in the Space Propulsion market, especially in Japan and Asia, through its subsidiary IHI Aerospace Company Limited. The company specializes in the development and construction of propulsion subcutam, including the hydropower monopropalent, cold gas and bipolar systems, which are integrated parts of different spacecraft applications. By taking advantage of its extensive experience with system integration for rockets and room vehicles, the IHI cruise is currently leading the four-megavot class hydrogen fuel cell electric propulsion system. The zero -powerful system is designed to provide power to the aircraft with more than 40 seats and is a cruise period of over three hours, and matches global efforts against permanent aviation. The project is part of Japan's green innovation fund projects in collaboration with the University of Tokyo and is lubricated to run from FY 2024 to FY 2029.

L3Harris Technologies, Inc. (US)

L3Harris Technologies, Inc. is a world-class global innovator and producer of advanced defense and aerospace systems for government and commercial customers. The interoperable systems provided by L3Harris operate across the entire spectrum of defense applications in air, land, sea, space and cyber domains.  Company provide new systems technology based on real time knowledge of the battle space with products that are designed to be rapidly modifiable to respond to evolving threats.

L3Harris has a premier position in the emerging market for best-of-breed both electric propulsion with high Isp Hall effect thrusters (small satellites) and high power solar electric propulsion (large commercial satellites). It bring mature reliable design capability to our customers from providing over 200 Hall Thrusters since 1985 including building our third flight system for Busek Co., Inc.’s AR1-E arcjet engine development program.

SpaceX (US)

SpaceX is the leading US-based aerospace company that designs, manufactures and launches satellites, spacecraft and rockets. Company has revoltunized the space propulsion market through its innovative technologies and global presence. The company has developed several engines such as Raptor, Merlin which are being used in starship spacecraft and  Falcon launch vehicles. Merlin engine uses kerosene (RP-1) and liquid oxygen propellants to generate power in rockets. Company has secured various government and commercial contracts  from entities across the globe, making its position dominant in the global space propulsion market. In 2024, SpaceX performed 134 orbital launch increased from 96 in 2023, showcasing its capabilities in the space propulsion market.

Company Evaluation Matrix : Key Players, 2023

The Company Evaluation Matrix is a strategic tool used to assess and categorize companies based on their market performance, product innovation, and business strategies. It provides insights into a company’s competitive position by classifying them as stars, emerging leaders, pervasive players, or participants. Companies with mature product ranges and stable business models usually win as leaders whereas others stand out as innovators or in niche capabilities. The matrix is an important tool that proffers value from the growth on strategic initiatives and partnerships and developed technological capabilities. Further opportunities exist within the matrix, wherein stakeholders can realize the market gaps and take significant decisions. Overall, the matrix gives a picture of how industry forces influence the market dynamics and provides an overall view of established players coupled with emerging innovators. Criteria to evaluate companies include depth in portfolio, outreach in market, the level of technological advancement and growth strategies. Companies with mature product ranges and stable business models normally win as leaders, while others stand out as innovators or in niche capabilities. The matrix is an essential tool that offers value from the growth of companies on strategic initiatives and partnerships and developed technological capabilities. Further, opportunities exist in the matrix, for stakeholders to understand the gaps in the market and make significant decisions. In general, the matrix depicts how industry forces shape market dynamics, giving a holistic view of established players along with emerging innovators.

Space Propulsion Market : Company Evaluation Matrix (Key Players), 2023

Related Reports:

Space Propulsion Market by Propulsion Type (Solid, Liquid, Electric, Solar, Hybrid), Component (Bipropellant Thruster, Hall-Effect Thruster, Rocket Motor), Platform (Satellite, Launch Vehicle), End User, Services and Region - Global forecast to 2030

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