North America 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.S., Canada) Forecasts, 2024-2032

Market Overview

The North American electric propulsion system market size in 2023 is estimated to be USD 186.79 million, and in 2032, it is projected to reach USD 922.74 million growing at a CAGR of 21.2% during the forecast period (2024-2032).

Electric Propulsion (EP) is space propulsion that utilizes electrical power to accelerate propellant through various electrical and/or magnetic mechanisms. EP thrusters offer improved propulsive performance by harnessing electrical power compared to conventional chemical thrusters. Unlike chemical systems, EP requires minimal mass to accelerate a spacecraft. The propellant is expelled up to twenty times faster than in classical chemical thrusters, resulting in a significantly more mass-efficient overall system.

Market Dynamics

North america electric propulsion system market drivers

Increasing spending on space activities

The space industry is experiencing a notable upsurge in space activities. Many countries are allocating significant funds towards diverse space programs, including satellite and spacecraft launches for plant observation, exploration, communication, weather monitoring, and defense. The increasing number of satellite launches is largely attributed to the advancement of smaller CubeSats, which allow for launching a larger quantity of satellites in a single mission.

Rising number of private players

In recent years, several private companies have entered the space industry. Companies such as SpaceX, Scaled Composites, Blue Origin, Virgin Galactic, Bigelow Aerospace, and Sierra Nevada Corporation are actively involved in various space-related activities. Some of these companies are specifically targeting countries without their launch capabilities and forming collaborations to launch satellites and mission-specific spacecraft. SpaceX and Blue Origin plan to introduce space tourism soon and are investing heavily in related projects. SpaceX has gained significant popularity among these companies due to ambitious initiatives like Star Link.

North america electric propulsion system market restraint

Strong presence of alternatives

Electric propulsion is not the sole propulsion system utilized in satellites and spacecraft. The market offers a variety of other propulsion systems. Our research reveals that chemical propulsion systems, bipropellant propulsion systems, unified propulsion systems, and monopropellant hydrazine propulsion systems are among the key alternatives. End-users choose these systems based on their specific application requirements. These technologies can be utilized interchangeably for small, medium, or large satellites and spacecraft. Nevertheless, the demand for electric propulsion is swiftly rising due to its cost and operational advantages.

North america electric propulsion system market opportunities

Invest in research and development activities to produce innovative product

Satellites and spacecraft employ various propulsion systems, not solely relying on electric propulsion. The market provides diverse options, including chemical propulsion systems, bipropellant propulsion systems, unified propulsion systems, and monopropellant hydrazine propulsion systems. The choice of a propulsion system depends on the application's specific needs. These technologies can be used across various satellite and spacecraft sizes. However, the demand for electric propulsion is growing rapidly due to its cost-effectiveness and operational benefits.

Regional Analysis

The North American electric propulsion system market is segmented by country: The U.S. and Canada. The U.S. is the most significant contributor to the market, with a CAGR of 20.2% during the forecast period.

The North American electric propulsion system market is analyzed on a regional level, considering market size, growth potential, and key players. Regions like the United States and Canada have emerged as significant contributors, driven by the presence of major aerospace companies and government investments in space exploration and satellite missions.

U.S.

The U.S. electric propulsion system market is analyzed regionally, considering market size, growth potential, and key players. Regions such as California, Florida, Texas, and Washington have emerged as significant contributors, driven by the presence of leading aerospace companies, research institutions, and government initiatives supporting space exploration and satellite deployment.

Canada

Canada's electric propulsion system market is analyzed on a regional level, considering factors such as market size, growth potential, and key players. Regions such as Ontario, Quebec, and British Columbia have emerged as significant contributors, driven by the presence of major aerospace companies, research institutions, and government initiatives promoting space exploration and satellite technology.

Segmental Analysis

The North American 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.

Hall Effect Thruster (HET) is the most significant contributor to the market and is expected to register a CAGR of 21.1 % 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 exit 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 segment is the most significant contributor to the market and is expected to register a CAGR of 20.4% 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 varieties of propulsion utilized by satellites. 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.
• In November 2021, BAE Systems announced Next-Generation Power and Propulsion System to Assist Marine Operators in Achieving Zero-Emissions Status.