Satellite Propulsion Market on Track for Significant Expansion: Report
Can Potentially Reach $7.82 Billion by 2032
The satellite propulsion market, which encompasses propulsion systems that enable satellites to maintain orbit, change trajectories, control orientation, prevent collisions, or deorbit at mission end, is on track for significant expansion over the coming decade. Stratview Research projects that the market will grow from $3.08 billion in 2024 to $7.82 billion by 2032, achieving a CAGR of 12.3 % during the forecast period (2025-2032). The single most important growth driver is the expansion in satellite launches for communication and Earth observation services, as the proliferation of satellites-which require reliable and efficient propulsion for accurate orbital placement and station-keeping-boosts demand across commercial, government, and defense sectors.
In the report, Stratview Research found that in the propulsion technology type category, the electric propulsion segment is expected to be the fastest-growing segment through 2032, propelled by its efficiency, extended mission durations, and lower propellant requirements compared to chemical systems. As satellite platforms-particularly small and medium satellites-prioritize weight and performance, manufacturers and developers are increasingly investing in electric propulsion technologies that support longer operational life and reduced mission costs.
For end-users, the commercial segment is anticipated to be the fastest growing due to the growing demand for satellite-based internet, connectivity, and remote sensing services. As commercial space activities expand and private enterprises deploy larger satellite fleets, there is a strategic emphasis on propulsion systems that support scalable and cost-effective operations.
North America is expected to be the dominant and fastest-growing region in the satellite propulsion market over the forecast period. The region’s leadership is supported by substantial government and private investments in space research and exploration, rapid advancements in propulsion technologies, and a thriving commercial space ecosystem that prioritizes innovation and strategic partnerships.
Market Drivers in the Satellite Propulsion Market include:
An increasing number of satellite launches for communication and Earth observation services
Rising adoption of efficient electric propulsion systems for extended mission life and reduced propellant needs
Growth in commercial space activities driving demand for satellite propulsion innovations
Government initiatives and public-private collaborations in space exploration and defense Advancements in propulsion technology and satellite mobility solutions