The space propulsion market is estimated to be $10.6 billion in 2023 and is projected to reach $18.1 billion by 2028, at a CAGR of 11.3% during the forecast period, according to a new report by MarketsandMarkets. The driving factor is the rising demand for advanced electric propulsion systems, significant investments by venture capital companies in space exploration missions, and the growing utilization of small satellites in various commercial and military applications.