The global market for Electric Propulsion System was estimated to be worth US$ 3285 million in 2024 and is forecast to a readjusted size of US$ 8296 million by 2031 with a CAGR of 13.6% during the forecast period 2025-2031.
Electric propulsion systems are an advanced propulsion technology that generates thrust by accelerating a working fluid using electricity. The core principle is to convert electrical energy into kinetic energy of the working fluid, rather than relying on chemical combustion. Compared to traditional chemical propulsion, electric propulsion offers high specific impulse (10-100 km/s), low thrust (millinewtons to newtons), and long lifespan, making it suitable for space missions with extremely high requirements for fuel efficiency and orbital control precision.
Driving factors:
Satellite internet boom: The Starlink project requires 12,000 satellites, each equipped with a Hall thruster for orbital adjustment and collision avoidance.
Policy support: China's "Real-scene 3D China" project has invested over 100 billion yuan to promote the integration of high-precision mapping and electric propulsion technology.
Cost Reduction: The price of lidar has dropped from $8,000 to $500, reducing map data collection costs by 70%.
This report aims to provide a comprehensive presentation of the global market for Electric Propulsion System, focusing on the total sales revenue, key companies market share and ranking, together with an analysis of Electric Propulsion System by region & country, by Type, and by Application.
The Electric Propulsion System market size, estimations, and forecasts are provided in terms of sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Electric Propulsion System.
Market Segmentation
By Company
- Aerojet Rocketdyne
- Busek Co Inc
- Here Technologies
- ABB
- Siemens
- GE Vernova
- Wartsila
- Leonardo DRS
- Rolls-Royce
- Yanmar
- Daihatsu Diesel Mfg
Segment by Type
- Gridded Ion Engine (GIE)
- Hall Effect Thruster (HET)
- High Efficiency Multistage Plasma Thruster (HEMPT)
- Pulsed Plasma Thruster (PPT)
- Other
Segment by Application
By Region
- North America
- Asia-Pacific
- China
- Japan
- South Korea
- Southeast Asia
- India
- Australia
- Rest of Asia-Pacific
- Europe
- Germany
- France
- U.K.
- Italy
- Netherlands
- Nordic Countries
- Rest of Europe
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size. This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Electric Propulsion System company competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Revenue of Electric Propulsion System in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Revenue of Electric Propulsion System in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
Table of Contents
1 Market Overview
- 1.1 Electric Propulsion System Product Introduction
- 1.2 Global Electric Propulsion System Market Size Forecast (2020-2031)
- 1.3 Electric Propulsion System Market Trends & Drivers
- 1.3.1 Electric Propulsion System Industry Trends
- 1.3.2 Electric Propulsion System Market Drivers & Opportunity
- 1.3.3 Electric Propulsion System Market Challenges
- 1.3.4 Electric Propulsion System Market Restraints
- 1.4 Assumptions and Limitations
- 1.5 Study Objectives
- 1.6 Years Considered
2 Competitive Analysis by Company
- 2.1 Global Electric Propulsion System Players Revenue Ranking (2024)
- 2.2 Global Electric Propulsion System Revenue by Company (2020-2025)
- 2.3 Key Companies Electric Propulsion System Manufacturing Base Distribution and Headquarters
- 2.4 Key Companies Electric Propulsion System Product Offered
- 2.5 Key Companies Time to Begin Mass Production of Electric Propulsion System
- 2.6 Electric Propulsion System Market Competitive Analysis
- 2.6.1 Electric Propulsion System Market Concentration Rate (2020-2025)
- 2.6.2 Global 5 and 10 Largest Companies by Electric Propulsion System Revenue in 2024
- 2.6.3 Global Top Companies by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Electric Propulsion System as of 2024)
- 2.7 Mergers & Acquisitions, Expansion
3 Segmentation by Type
- 3.1 Introduction by Type
- 3.1.1 Gridded Ion Engine (GIE)
- 3.1.2 Hall Effect Thruster (HET)
- 3.1.3 High Efficiency Multistage Plasma Thruster (HEMPT)
- 3.1.4 Pulsed Plasma Thruster (PPT)
- 3.1.5 Other
- 3.2 Global Electric Propulsion System Sales Value by Type
- 3.2.1 Global Electric Propulsion System Sales Value by Type (2020 VS 2024 VS 2031)
- 3.2.2 Global Electric Propulsion System Sales Value, by Type (2020-2031)
- 3.2.3 Global Electric Propulsion System Sales Value, by Type (%) (2020-2031)
4 Segmentation by Application
- 4.1 Introduction by Application
- 4.1.1 Aerospace
- 4.1.2 Shipbuilding
- 4.2 Global Electric Propulsion System Sales Value by Application
- 4.2.1 Global Electric Propulsion System Sales Value by Application (2020 VS 2024 VS 2031)
- 4.2.2 Global Electric Propulsion System Sales Value, by Application (2020-2031)
- 4.2.3 Global Electric Propulsion System Sales Value, by Application (%) (2020-2031)
5 Segmentation by Region
- 5.1 Global Electric Propulsion System Sales Value by Region
- 5.1.1 Global Electric Propulsion System Sales Value by Region: 2020 VS 2024 VS 2031
- 5.1.2 Global Electric Propulsion System Sales Value by Region (2020-2025)
- 5.1.3 Global Electric Propulsion System Sales Value by Region (2026-2031)
- 5.1.4 Global Electric Propulsion System Sales Value by Region (%), (2020-2031)
- 5.2 North America
- 5.2.1 North America Electric Propulsion System Sales Value, 2020-2031
- 5.2.2 North America Electric Propulsion System Sales Value by Country (%), 2024 VS 2031
- 5.3 Europe
- 5.3.1 Europe Electric Propulsion System Sales Value, 2020-2031
- 5.3.2 Europe Electric Propulsion System Sales Value by Country (%), 2024 VS 2031
- 5.4 Asia Pacific
- 5.4.1 Asia Pacific Electric Propulsion System Sales Value, 2020-2031
- 5.4.2 Asia Pacific Electric Propulsion System Sales Value by Region (%), 2024 VS 2031
- 5.5 South America
- 5.5.1 South America Electric Propulsion System Sales Value, 2020-2031
- 5.5.2 South America Electric Propulsion System Sales Value by Country (%), 2024 VS 2031
- 5.6 Middle East & Africa
- 5.6.1 Middle East & Africa Electric Propulsion System Sales Value, 2020-2031
- 5.6.2 Middle East & Africa Electric Propulsion System Sales Value by Country (%), 2024 VS 2031
6 Segmentation by Key Countries/Regions
- 6.1 Key Countries/Regions Electric Propulsion System Sales Value Growth Trends, 2020 VS 2024 VS 2031
- 6.2 Key Countries/Regions Electric Propulsion System Sales Value, 2020-2031
- 6.3 United States
- 6.3.1 United States Electric Propulsion System Sales Value, 2020-2031
- 6.3.2 United States Electric Propulsion System Sales Value by Type (%), 2024 VS 2031
- 6.3.3 United States Electric Propulsion System Sales Value by Application, 2024 VS 2031
- 6.4 Europe
- 6.4.1 Europe Electric Propulsion System Sales Value, 2020-2031
- 6.4.2 Europe Electric Propulsion System Sales Value by Type (%), 2024 VS 2031
- 6.4.3 Europe Electric Propulsion System Sales Value by Application, 2024 VS 2031
- 6.5 China
- 6.5.1 China Electric Propulsion System Sales Value, 2020-2031
- 6.5.2 China Electric Propulsion System Sales Value by Type (%), 2024 VS 2031
- 6.5.3 China Electric Propulsion System Sales Value by Application, 2024 VS 2031
- 6.6 Japan
- 6.6.1 Japan Electric Propulsion System Sales Value, 2020-2031
- 6.6.2 Japan Electric Propulsion System Sales Value by Type (%), 2024 VS 2031
- 6.6.3 Japan Electric Propulsion System Sales Value by Application, 2024 VS 2031
- 6.7 South Korea
- 6.7.1 South Korea Electric Propulsion System Sales Value, 2020-2031
- 6.7.2 South Korea Electric Propulsion System Sales Value by Type (%), 2024 VS 2031
- 6.7.3 South Korea Electric Propulsion System Sales Value by Application, 2024 VS 2031
- 6.8 Southeast Asia
- 6.8.1 Southeast Asia Electric Propulsion System Sales Value, 2020-2031
- 6.8.2 Southeast Asia Electric Propulsion System Sales Value by Type (%), 2024 VS 2031
- 6.8.3 Southeast Asia Electric Propulsion System Sales Value by Application, 2024 VS 2031
- 6.9 India
- 6.9.1 India Electric Propulsion System Sales Value, 2020-2031
- 6.9.2 India Electric Propulsion System Sales Value by Type (%), 2024 VS 2031
- 6.9.3 India Electric Propulsion System Sales Value by Application, 2024 VS 2031
7 Company Profiles
- 7.1 Aerojet Rocketdyne
- 7.1.1 Aerojet Rocketdyne Profile
- 7.1.2 Aerojet Rocketdyne Main Business
- 7.1.3 Aerojet Rocketdyne Electric Propulsion System Products, Services and Solutions
- 7.1.4 Aerojet Rocketdyne Electric Propulsion System Revenue (US$ Million) & (2020-2025)
- 7.1.5 Aerojet Rocketdyne Recent Developments
- 7.2 Busek Co Inc
- 7.2.1 Busek Co Inc Profile
- 7.2.2 Busek Co Inc Main Business
- 7.2.3 Busek Co Inc Electric Propulsion System Products, Services and Solutions
- 7.2.4 Busek Co Inc Electric Propulsion System Revenue (US$ Million) & (2020-2025)
- 7.2.5 Busek Co Inc Recent Developments
- 7.3 Here Technologies
- 7.3.1 Here Technologies Profile
- 7.3.2 Here Technologies Main Business
- 7.3.3 Here Technologies Electric Propulsion System Products, Services and Solutions
- 7.3.4 Here Technologies Electric Propulsion System Revenue (US$ Million) & (2020-2025)
- 7.3.5 Here Technologies Recent Developments
- 7.4 ABB
- 7.4.1 ABB Profile
- 7.4.2 ABB Main Business
- 7.4.3 ABB Electric Propulsion System Products, Services and Solutions
- 7.4.4 ABB Electric Propulsion System Revenue (US$ Million) & (2020-2025)
- 7.4.5 ABB Recent Developments
- 7.5 Siemens
- 7.5.1 Siemens Profile
- 7.5.2 Siemens Main Business
- 7.5.3 Siemens Electric Propulsion System Products, Services and Solutions
- 7.5.4 Siemens Electric Propulsion System Revenue (US$ Million) & (2020-2025)
- 7.5.5 Siemens Recent Developments
- 7.6 GE Vernova
- 7.6.1 GE Vernova Profile
- 7.6.2 GE Vernova Main Business
- 7.6.3 GE Vernova Electric Propulsion System Products, Services and Solutions
- 7.6.4 GE Vernova Electric Propulsion System Revenue (US$ Million) & (2020-2025)
- 7.6.5 GE Vernova Recent Developments
- 7.7 Wartsila
- 7.7.1 Wartsila Profile
- 7.7.2 Wartsila Main Business
- 7.7.3 Wartsila Electric Propulsion System Products, Services and Solutions
- 7.7.4 Wartsila Electric Propulsion System Revenue (US$ Million) & (2020-2025)
- 7.7.5 Wartsila Recent Developments
- 7.8 Leonardo DRS
- 7.8.1 Leonardo DRS Profile
- 7.8.2 Leonardo DRS Main Business
- 7.8.3 Leonardo DRS Electric Propulsion System Products, Services and Solutions
- 7.8.4 Leonardo DRS Electric Propulsion System Revenue (US$ Million) & (2020-2025)
- 7.8.5 Leonardo DRS Recent Developments
- 7.9 Rolls-Royce
- 7.9.1 Rolls-Royce Profile
- 7.9.2 Rolls-Royce Main Business
- 7.9.3 Rolls-Royce Electric Propulsion System Products, Services and Solutions
- 7.9.4 Rolls-Royce Electric Propulsion System Revenue (US$ Million) & (2020-2025)
- 7.9.5 Rolls-Royce Recent Developments
- 7.10 Yanmar
- 7.10.1 Yanmar Profile
- 7.10.2 Yanmar Main Business
- 7.10.3 Yanmar Electric Propulsion System Products, Services and Solutions
- 7.10.4 Yanmar Electric Propulsion System Revenue (US$ Million) & (2020-2025)
- 7.10.5 Yanmar Recent Developments
- 7.11 Daihatsu Diesel Mfg
- 7.11.1 Daihatsu Diesel Mfg Profile
- 7.11.2 Daihatsu Diesel Mfg Main Business
- 7.11.3 Daihatsu Diesel Mfg Electric Propulsion System Products, Services and Solutions
- 7.11.4 Daihatsu Diesel Mfg Electric Propulsion System Revenue (US$ Million) & (2020-2025)
- 7.11.5 Daihatsu Diesel Mfg Recent Developments
8 Industry Chain Analysis
- 8.1 Electric Propulsion System Industrial Chain
- 8.2 Electric Propulsion System Upstream Analysis
- 8.2.1 Key Raw Materials
- 8.2.2 Raw Materials Key Suppliers
- 8.2.3 Manufacturing Cost Structure
- 8.3 Midstream Analysis
- 8.4 Downstream Analysis (Customers Analysis)
- 8.5 Sales Model and Sales Channels
- 8.5.1 Electric Propulsion System Sales Model
- 8.5.2 Sales Channel
- 8.5.3 Electric Propulsion System Distributors
9 Research Findings and Conclusion
10 Appendix
- 10.1 Research Methodology
- 10.1.1 Methodology/Research Approach
- 10.1.1.1 Research Programs/Design
- 10.1.1.2 Market Size Estimation
- 10.1.1.3 Market Breakdown and Data Triangulation
- 10.1.2 Data Source
- 10.1.2.1 Secondary Sources
- 10.1.2.2 Primary Sources
- 10.2 Author Details
- 10.3 Disclaimer