The space propulsion systems market is set for substantial growth, with forecasts indicating a market value of USD 20.02 billion by 2030, growing at a CAGR of 11.9% from 2024. This forecast reflects the increasing demand for advanced propulsion technologies across various applications, including launchers, spacecraft, and landers. The market is segmented by propulsion type, with electric, gas-based, and liquid fuel systems representing the main categories.

Electric propulsion systems are expected to see significant growth due to their efficiency and suitability for long-duration missions, such as satellite station-keeping and deep-space exploration. Gas-based and liquid fuel systems remain crucial for high-thrust applications, particularly in launch vehicles and orbital transfer vehicles. The market is also segmented by satellite mass class, with nano, micro, mini, and large satellites each requiring tailored propulsion solutions.

Geographically, North America, Europe, and Asia-Pacific are leading regions in market growth, driven by government investments, technological advancements, and a vibrant private sector. As the market evolves, the demand for advanced propulsion systems is expected to rise, with innovations in hybrid and green propulsion technologies playing a key role in shaping the future of space exploration

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