Europe Electric Propulsion System Market Size, Share & Trends Analysis Report By Class (Gridded Ion Engine, Hall Effect Thruster, High Efficiency Multistage Plasma Thruster, Pulsed Plasma Thruster, Others), By Application (Spacecraft, Satellite) and By Country(U.K., Germany, France, Italy, Russia, Nordic, Benelux, Rest of Europe) Forecasts, 2024-2032

Market Overview

The Europe electric propulsion system market size in 2023 is estimated to be USD 147.19 million, and in 2032, it is projected to reach USD 685.33 million at a CAGR of 21.2% during the forecast period (2024-2032).

Electric Propulsion (EP) is a propulsion used in space that relies on electrical power to accelerate propellant through different electrical and/or magnetic methods. Compared to conventional chemical thrusters, EP thrusters provide enhanced propulsive capabilities. They require minimal mass to accelerate a spacecraft, and the propellant is expelled up to twenty times faster than in traditional chemical thrusters. This leads to a more efficient system in terms of mass utilization.

Market Dynamics

Europe electric propulsion system market drivers

Increasing presence of private companies

In recent years, numerous private companies have emerged in the space industry. Companies like SpaceX, Scaled Composites, Blue Origin, Virgin Galactic, Bigelow Aerospace, and Sierra Nevada Corporation actively engage in space-related endeavors. These companies are focusing on countries lacking their launch capabilities and are forming partnerships to facilitate satellite launches and specialized spacecraft missions. SpaceX and Blue Origin are also heavily investing in space tourism projects and plan to offer such services soon. SpaceX has garnered considerable attention and acclaim among these companies for its ambitious projects like Star Link.

Surge in expenditure on space exploration

The space industry is witnessing a notable increase in space activities, with various countries investing significant funds in diverse space programs. These programs encompass satellite and spacecraft launches for various purposes, such as plant observation, exploration, communication, weather monitoring, and defense. The rise in satellite launches can be largely attributed to the advancements in smaller CubeSats, which enable the launch of a larger number of satellites in a single mission.

Europe electric propulsion system market restraint

Abundance of alternatives

While electric propulsion is a commonly used propulsion system in satellites and spacecraft, it is not the only option available. The market offers a range of alternative propulsion systems for such applications. Our research indicates that chemical propulsion systems, bipropellant propulsion systems, unified propulsion systems, and monopropellant hydrazine propulsion systems are among the prominent alternatives. The selection of these systems depends on the specific requirements of the application. These technologies can be used interchangeably for satellites and spacecraft of varying sizes. However, there is a growing demand for electric propulsion due to its cost-effectiveness and operational benefits.

Europe electric propulsion system market opportunities

Increased funding for research and development

Satellites and spacecraft utilize various propulsion systems, and electric propulsion is not the sole option. The market offers various choices, including chemical propulsion systems, bipropellant propulsion systems, unified propulsion systems, and monopropellant hydrazine propulsion systems. The selection of a specific propulsion system depends on the application's specific requirements. These technologies are applicable across satellites and spacecraft of different sizes. However, there is a significant increase in the demand for electric propulsion due to its cost-effectiveness and operational advantages.

Regional Analysis

The Europe electric propulsion system market is segmented by country: Germany, the U.K., France, and the Rest of Europe. The rest of Europe is the most significant contributor to the market, with a CAGR of 19.1% during the forecast period.

The Europe electric propulsion system market is analyzed on a regional level, considering market size, growth potential, and key players. Countries like Germany, France, the UK, Italy, and the Netherlands are major contributors, driven by the increasing demand for satellites and spacecraft, advancements in space technology, and government initiatives to promote space exploration and communication.

Segmental Analysis

The Europe electric propulsion system market is segmented into type, techiques, power ratings, and applications.

Based on type, the market is categorised into gridded ion engine (GIE), hall effect thruster (HET), high efficiency multistage plasma thruster (HEMPT), pulsed plasma thruster (PPT), magneto plasma dynamic (MPD), and others.

HET is the most significant contributor to the market and is expected to register a CAGR of 21.9 % over the forecast period. HET is an electric propulsion system that uses a strong perpendicular magnetic field instead of a grid system. Electrons in an azimuthal Hall current traveling around the circumference of an annular ceramic channel are captured by the generated magnetic field. The electron then ionizes the propellant onboard and produces ionized plasma. Using an applied electric field, the ionized plasma is accelerated to produce thrust by generating an existing velocity of up to 65,000 miles per hour. However, the interaction between the downstream margin of the channel and the accelerated plasma erodes the surrounding magnetic system, which is primarily utilized for plasma generation. The application domain comprises earth-orbiting satellites, material processing, and deep-space robotic vehicles.

By Power Rating, the market is segmented into low power electric propulsion systems, medium power electric propulsion systems, and high power electric propulsion systems. Low power electric propulsion systems are typically used in satellites and small spacecraft. Medium power electric propulsion systems are commonly emloyed in a variety of space applications, whereas high power electric propulsion systems are used in heavy-duty space missions and exploration.

By application, it is further segmented into satellite based and marine based. 

The satellite is the most significant contributor to the market and is expected to register a CAGR of 21.4% over the forecast period. Electric propulsion satellite refers to a satellite that is propelled by a hybrid or entirely electric propulsion system. It is a form of space propulsion that uses electrical power to accelerate or ignite propellant combustion using various electrical or electromagnetic techniques. Electrotherm propulsion, electrostatic propulsion, and electromagnetic propulsion are propulsion varieties that satellites utilize. It can be used for various space-based applications, including earth observation, navigational and telecommunication, astronomy, space exploration, and environmental studies, among others, depending on the utility.

Recent Developments

• February 2023- Starfish Space announced that its electric propulsion-powered Otter Pup satellite will be launched in the middle of 2023 and dock with another satellite by the end of 2023.
• Airflow, an electric short takeoff and landing (eSTOL) aircraft business, has partnered with Pipistrel, the world’s first and presently one type-certified electric airplane designer and manufacturer. Pipistrel will supply the motors, motor controllers, and batteries for Airflow’s Distributed Electric Propulsion proof-of-concept aircraft as part of this agreement.
• BAE Systems announced Next-Generation Power and Propulsion System to Assist Marine Operators in Achieving Zero-Emissions Status.