Space propulsion market seen reaching $30.48 billion by 2030

The Business Research Company says the space propulsion market will grow from $14.35 billion in 2025 to $16.84 billion in 2026, then nearly double again to $30.48 billion by 2030. The forecast points to rising demand for electric propulsion, deep-space systems and government-backed investment as satellite networks expand and missions become more ambitious. Why it matters: - Space propulsion is becoming more central to satellite operations, deep-space missions and the broader commercial space economy. - Faster growth in electric propulsion, nuclear and solar propulsion, and propellant-less concepts could reshape how spacecraft move, adjust orbit and support longer missions. - Government funding and private investment are strengthening the market’s base as nations compete for space capability and strategic independence. What happened: - The Business Research Company projected the space propulsion market will rise from $14.35 billion in 2025 to $16.84 billion in 2026. - The report said the market is on track to reach $30.48 billion by 2030. - The forecast was published June 12, 2026, in London. - North America held the largest share of the global space propulsion market in 2025. - North America is also expected to be the fastest-growing region during the forecast period. - The report covers Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa. - The company included a free sample report and a full report online: More information and the full report . The details: - The report pegged 2025-2026 growth at a 17.3% compound annual growth rate. - It forecast 16.0% CAGR growth from 2026 to 2030. - Electric propulsion for satellite station-keeping and orbit-raising missions is a key growth driver. - Plasma and ion thruster advances are improving mission efficiency. - Larger satellite networks are increasing demand for dependable in-orbit propulsion. - Government and commercial funding for propulsion research is supporting deeper space exploration. - Early work on propellant-less technologies is also adding momentum. - The report expects higher demand for high-efficiency propulsion systems for longer and interplanetary missions. - Scaling electric propulsion for larger spacecraft is another growth factor. - Rising commercial activity in low Earth orbit is increasing the need for frequent orbital adjustments. - The report flagged next-generation propellant-less propulsion, public-private collaboration, and sustainable propulsion infrastructure as important future themes. - Other trend areas include miniaturized propulsion units for small satellites and cubesats, plus integration with thermal and power management systems. Between the lines: - The market outlook reflects a shift from one-off launch capability toward persistent in-orbit maneuvering and mission endurance. - Electric propulsion and smaller, more efficient systems appear positioned to benefit most as satellite constellations multiply. - The report’s emphasis on government funding shows that national security and industrial policy remain major demand drivers, not just commercial growth. - A cited April 2024 report said 79% of U.K. space funding in fiscal 2022-23 went through ESA programs, while 20% supported national projects including the National Space Innovation Programme, which runs until 2027/28. - That funding structure was tied to projected revenues of £1.2 billion and £733 million in private sector investment. What’s next: - The report expects rapid growth to continue as spacecraft missions get longer and more complex. - More collaboration between public agencies and private companies is likely as propulsion technology moves toward sustainable infrastructure. - Electric, nuclear and solar propulsion systems are expected to draw continued development for deep-space use. - The company said its 2026 reports add market attractiveness scoring, TAM analysis, company scoring matrices, Excel forecasting dashboards, hotspot infographics and updated trend graphics. The bottom line: - Space propulsion is moving from a specialized aerospace segment to a fast-scaling market tied to satellite constellations, deep-space ambition and national strategic investment.