Home Semiconductor & Electronics United Kingdom Electric Propulsion System Market Size, Share and Forecast to 2031

United Kingdom Electric Propulsion System Market

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United Kingdom 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 Forecasts, 2024-2032

Report Code: SRSE55091DR
Study Period 2020-2032 CAGR 23%
Historical Period 2020-2022 Forecast Period 2024-2032
Base Year 2023 Base Year Market Size USD XX Billion
Forecast Year 2032 Forecast Year Market Size USD XX Billion
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Market Overview

The United Kingdom's electric propulsion system market size in 2023 is estimated to be USD 16.35 million, and in 2032, it is projected to reach USD 86.78 million at a CAGR of 23.2% during the forecast period (2024-2032).

Electric Propulsion (EP) is a space propulsion technique that uses electrical power to accelerate propellant using various electrical and/or magnetic mechanisms. Compared to conventional chemical thrusters, EP thrusters deliver superior propulsion performance. They require less mass for spacecraft acceleration, and propellant is ejected at velocities up to twenty times faster than traditional chemical thrusters. In terms of bulk utilization, this results in a more effective system.

Market Dynamics

United Kingdom Electric Propulsion System Market Drivers

Upward Trend in Financial Commitment to Space Ventures

The space industry is experiencing a significant upswing in space activities, with countries dedicating substantial funds to diverse space programs. These programs encompass the launch of satellites and spacecraft for various purposes, including plant observation, exploration, communication, weather monitoring, and defense. The rise in satellite launches can largely be attributed to advancements in smaller CubeSats, which allow for the deployment of a greater number of satellites in a single mission.

Emergence of Private Players in the Industry

Over the past few years, several private companies, such as SpaceX, Scaled Composites, Blue Origin, Virgin Galactic, Bigelow Aerospace, and Sierra Nevada Corporation, have entered the space industry. These companies are actively involved in diverse space-related activities and emphasize countries that lack their launch capabilities. They are establishing collaborations to enable satellite launches and specialized spacecraft missions in these regions. Additionally, companies like SpaceX and Blue Origin are making substantial investments in space tourism ventures and have plans to offer such services. SpaceX has garnered significant recognition and attention among these companies for ambitious projects like Star Link.

United Kingdom Electric Propulsion System Market Restraint

Extensive Array of Alternatives

Electric propulsion is widely used in satellites and spacecraft, but it is not the only option available. The market provides various alternative propulsion systems for these applications. Notable alternatives include 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 requirements, and these technologies can be utilized across satellites and spacecraft of different sizes. However, there is an increasing demand for electric propulsion due to its cost-effectiveness and operational advantages.

United Kingdom Electric Propulsion System Market Opportunities

Promoting a Culture of Innovation and Creativity

Satellites and spacecraft have multiple propulsion system options, and electric propulsion is not the sole option. The market provides various alternatives, such as 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 are suitable for satellites and spacecraft of various sizes. However, the demand for electric propulsion is growing rapidly due to its cost-effectiveness and operational benefits.

Regional Analysis

The electric propulsion system market in the United Kingdom is experiencing growth, driven by increasing investments in space technologies. The country's focus on satellite manufacturing and space exploration programs, along with the presence of key industry players, contributes to the development of the electric propulsion system market in the region.

Report Scope

Report Metric Details
Segmentations
By Class
  1. Gridded Ion Engine
  2. Hall Effect Thruster
  3. High Efficiency Multistage Plasma Thruster
  4. Pulsed Plasma Thruster
  5. Others
By Application
  1. Spacecraft
  2. Satellite
Company Profiles Aerospace Corporation SITAE Bellatrix Aerospace Busek Co. Inc. Accion Systems Inc., (Revolution Space) DAIHATS DIESEL MFG CO. LTD. Northrop Grumman Innovation Systems Boeing Airbus Ad Astra Rocket Company Aerojet Rocketdyne
Geographies Covered
United Kingdom
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The United Kingdom's electric propulsion system market is segmented into type, technique, power rating, and applications.

Based on type, the market is categorized 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 23.9 % over the forecast period. A strong magnetic field perpendicular to the grid system is utilized in HET, a form of electric propulsion. Electrons are trapped in an annular ceramic channel as an azimuthal Hall current flow around its periphery, creating a magnetic field. The electron then creates ionized plasma by ionizing the onboard propellant. An electric field accelerates the ionized plasma to up to 65,000 miles per hour to generate propulsion. However, the surrounding magnetic system is predominantly used to generate plasma, and this contact between the downstream edge of the channel and accelerating plasma erodes it. Satellites in Earth's orbit, factories in space, and robots exploring deep space are all potential users.

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 employed 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  23.4% over the forecast period.  A satellite that uses a hybrid or all-electric propulsion technology is said to be an electric propulsion satellite. Electrical propulsion is space propulsion that employs various electrical and electromagnetic techniques to speed up or spark propellant combustion. These satellite propulsion 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.

Market Size By Class

Market Size By Class
  • Gridded Ion Engine
  • Hall Effect Thruster
  • High Efficiency Multistage Plasma Thruster
  • Pulsed Plasma Thruster
  • Others
  • 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.

    Top Key Players

    United Kingdom Electric Propulsion System Market Share of Key Players

    United Kingdom Electric Propulsion System Market Share of Key Players
    Aerospace Corporation SITAE Bellatrix Aerospace Busek Co. Inc. Accion Systems Inc., (Revolution Space) DAIHATS DIESEL MFG CO. LTD. Northrop Grumman Innovation Systems Boeing Airbus Ad Astra Rocket Company Aerojet Rocketdyne Others

    Frequently Asked Questions (FAQs)

    How big is the United Kingdom Electric Propulsion System market?
    The United Kingdom electric propulsion system market is expected to grow at a CAGR of 23.0% during the forecast period (2022-2030).
    United Kingdom Electric Propulsion System market can be segmented by types and applications.
    Key verticals adopting United Kingdom Electric Propulsion System include: - Aerospace Corporation, SITAE, Bellatrix Aerospace, Busek Co. Inc., Accion Systems Inc., DAIHATS, DIESEL MFG CO. LTD.
    Upward trend in financial commitment to space ventures is the key drivers for the growth of the United Kingdom Electric Propulsion System market


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