DUBLIN–(COMMERCIAL WIRE)–Report “Space-Based Fuel Management Systems Market: A Global and Regional Analysis: Focus on Application, Component, and Region: Analysis and Forecast, 2022-2032” was added to researchandmarkets.com offering.
The global market for space-based fuel management systems is estimated to reach $45,124.1 million in 2032 from $38,578.4 million in 2022, at a growth rate of 1.58% over the the forecast period 2022-2032. Space-based fuel management system technology companies have witnessed the demand of the growing commercial industry. The space-based fuel management systems market ecosystem comprises system manufacturers, original equipment manufacturers (OEMs), and end users.
Market life cycle stage
In 1957, when the Sputnik-1 satellite was launched, a fuel regulator was implemented, which failed, resulting in excessive fuel consumption. From then until 2022, powertrain technologies and fuel management systems have come a long way to be cost-effective and efficient. Companies like Northrop Grumman and Lockheed Martin have proven their capabilities in the department of fuel management systems and propulsion systems.
Currently, many space agencies and commercial companies around the world have focused on the development of Low Earth Orbit (LEO) satellite constellations. This would boost the space-based fuel management system market. In addition, increased research and development activities to develop cost-effective propulsion technologies and fuel management systems are other factors contributing to the growth of the LEO-focused space-based fuel management systems market. For example, in June 2022, ThrustMe signed a contract with the European Space Agency (ESA) to provide an NPT30-I2-1.5U electric propulsion system for the GOMX-5 mission under the General Support Technology Program (GSTP). from ESA.
Impact
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The growing number of smaller telecommunications satellites in Low Earth Orbit (LEO) with the upcoming mega-constellation has generated high demand for the production of space-based fuel management systems during the forecast period.
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Additionally, there is an increase in research and development activities to build cost-effective space-based fuel management systems for satellites.
Demand: drivers and constraints
The following are the drivers of the global space-based fuel management systems market:
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Increased demand for fuel management systems due to mass production of satellites and launch vehicles
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Growing need for customization of satellite platforms and launch vehicles
The following are the challenges for the global space-based fuel management systems market:
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Modular powertrain solutions that negate the need for commoditized fuel management solutions
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Evolution of integrated powertrain solutions restricting the choice of fuel management system components
The following are the opportunities for the global space-based fuel management systems market:
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Evolution of new fuels for spacecraft that do not harm the environment
Market segmentation
Segmentation 1: by Application
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satelite
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launch vehicle
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deep space vehicle
The satellite application type segment is expected to dominate the global space-based fuel management systems market during the forecast period 2022-2032.
Segmentation 2: by Component
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sensors
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valves
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flow controllers
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Mass flow sensors
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pressure transducers
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Particle Filters
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plumbing/tubing
Based on the component, the global space-based fuel management systems market is expected to be dominated by the plumbing and tubing segment during the forecast period.
Segmentation 3: by Region
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North America: USA, Canada
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Europe: France, Germany, Russia, United Kingdom and rest of Europe
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Asia-Pacific: China, India, Japan and the rest of Asia-Pacific
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Rest of the world – Middle East and Africa and Latin America
Synopsis of key market players and competition
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Airbus
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action systems
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spatial reference system
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Cobham
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exotrail
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IHI Aerospace Co.Ltd
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Lockheed Martin Corporation
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microcosm inc.
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moog inc
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Northrop Grumman
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Orbion space technology
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jet engines
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Safran SA
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Thales Alenia space
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