The space propulsion systems market is entering a phase of strong expansion, and the MRFR report highlights the drivers behind this upward trajectory. According to the report, the global market was valued at USD 6,666.45 million in 2023, and is forecast to reach USD 19,776.80 million by 2032, representing an approximate CAGR of 11.71% during 2024-2032. 

One of the key growth factors is the increasing launch of satellites and the rising demand for satellite constellations providing communications, navigation, Earth observation and other services. MRFR points to a broader push by both commercial and government entities into space, which fuels demand for reliable propulsion systems. 

For stakeholders — manufacturers, satellite operators, launch service providers — the takeaway is clear: the propulsion systems segment is increasingly a high‐growth opportunity within the broader space ecosystem. Investing in innovative propulsion types, servicing new satellite markets (e.g., small-sats, mega-constellations), and expanding regionally (especially in Asia-Pacific) align well with this growth trend.

In summary, the MRFR report underscores the impressive growth prospects of the space propulsion systems market, driven by commercial space boom, new technologies and strong regional growth dynamics. For players in the space industry, propulsion systems represent both a strategic component and a growth engine.

Table of Contents

SECTION I: EXECUTIVE SUMMARY AND KEY HIGHLIGHTS

SECTION II: SCOPING, METHODOLOGY AND MARKET STRUCTURE

SECTION III: QUALITATIVE ANALYSIS

SECTION IV: QUANTITATIVE ANALYSIS

SECTION V: COMPETITIVE ANALYSIS ........

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