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.

Key Companies in the Global Space Propulsion Market:

• Safran S.A. (France)
• SpaceX – Space Exploration Technologies Corp. (U.S.)
• Northrop Grumman Corporation (U.S.)
• Blue Origin LLC (U.S.)
• Moog Inc. (U.S.)
• Lockheed Martin Corporation (U.S.)
• OHB SE (Germany)
• Sierra Nevada Corporation (U.S.)
• Thales Group (France)
• Honeywell International Inc. (U.S.)
• Ariane Group GmbH (France)
• Airbus S.E. (France)
• Cobham Ltd. (U.K.)
• L3Harris Technologies Inc. (U.S.)
• The Boeing Company (U.S.)

These companies are focusing on R&D investments, strategic collaborations, and next-generation propulsion system development to maintain their competitive edge.