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According to Fortune Business Insights™, the global space propulsion market size was valued at USD 6.23 billion in 2020. The market is projected to grow from USD 7.31 billion in 2021 to USD 19.74 billion by 2028, exhibiting a CAGR of 15.24% during the forecast period. North America led the global market in 2020 with a dominant market share of 37.72%, owing to significant space budgets, advanced technological capabilities, and the presence of key players such as SpaceX and Northrop Grumman.

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Published by Rishika Chavan, 2025-07-18 05:30:26

Space Propulsion Market

According to Fortune Business Insights™, the global space propulsion market size was valued at USD 6.23 billion in 2020. The market is projected to grow from USD 7.31 billion in 2021 to USD 19.74 billion by 2028, exhibiting a CAGR of 15.24% during the forecast period. North America led the global market in 2020 with a dominant market share of 37.72%, owing to significant space budgets, advanced technological capabilities, and the presence of key players such as SpaceX and Northrop Grumman.

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