Top 10 companies in the global Electric Propulsion System Market by Intellectual Market Insights Research

Published Date : 2024-Jul-02

Electric Propulsion System Market Players Analysis:  Aerospace Corporation, Bellatrix Aerospace, Busek, Accion Systems, Northrop Grumman Innovation Systems, Airbus, Ad Astra Rocket Company, Aerojet Rocketdyne, ArianeGroup, Thales Alenia Space, Boeing And More.


Electric Propulsion System Market Size, Share & Trends Analysis Report By Class (Gridded Ion Engine, Hall Effect Thruster, High Efficiency Multistage Plasma Thruster, Pulsed Plasma Thruster, Others), By Application (Spacecraft, Satellite) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America), Global Economy Insights, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast Till 2031.

According to a comprehensive study by Intellectual Market Insights Research, the Global Electric Propulsion System Market size was valued at US$14.50 Billion in 2022 and is projected to reach US$28.1 Billion by 2031.

Growing at a CAGR of 7.63% from 2023 to 2031.

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  1. Aerospace Corporation

Industry: Aerospace & Space Research and Technology


About Us: The Aerospace Corporation is an American nonprofit corporation that operates a federally funded research and development center (FFRDC). Founded in 1960, the company is headquartered in        Chantilly, Virginia, United States. The corporation has provided independent technical and scientific research, development, and advisory services to national-security space programs. As the FFRDC for national-security space, Aerospace works closely with organizations such as the United States Space Force (USSF) and the National Reconnaissance Office (NRO) to provide "objective technical analyses and assessments for space programs that serve the national interest".

The company had nearly 4,500 employees (2023) and had revenue of US$1.29 Billion in 2023.


  1. Bellatrix Aerospace

Industry: Aerospace & Space Research and Technology


About Us: Bellatrix Aerospace is an Indian private aerospace manufacturer and small satellite manufacturing company, headquartered in Bangalore, Karnataka, INDIA. The company was established in 2015 and in June 2022, the company raised $8 million in a Series A funding round to pursue the development of in-space propulsion systems, electric propulsion, green propulsion and orbital transfer vehicles.

Its company had nearly 51-200 employees, and it generated the range of Under INR 1 Cr for the financial year ending on 31 March 2023.



Industry: Aerospace & Defense Manufacturing


About Us: Busek Company Incorporated is an American spacecraft propulsion company that builds thrusters, electronics, and various systems for spacecraft. Founded in 1985, the company is headquartered in Natick, Massachusetts, United States. Company expertise spans five propulsion technologies including Hall, electrospray, radio frequency ion, pulsed plasma, and green monopropellant thrusters. Its products fit a range of spacecraft from compact cubesats to large geostationary satellites, and everything in between.

Busek's revenue for 2023 was listed at US$9.4 Million and company had nearly 51-200 employees.


  1. Accion Systems

Industry: Aerospace


About Us: Accion Systems is an American spacecraft propulsion company. Founded in 2014, the company is headquartered in Boston, Massachusetts, United States. Accion Systems provides in-space propulsion systems for satellites based on proprietary technology developed at MIT. Accion Systems develops propulsion systems designed for use in space, focusing on modern technological approaches.

The company had approximately 11-50 employees, and it generated more than US$5. 2 Million in revenue in 2023.


  1. Northrop Grumman

Industry:  Defense and Space Manufacturing


About Us:   Northrop Grumman Corporation is an American multinational aerospace and defense company. Founded in 1994, the company is headquartered in West Falls Church, Virginia, United States; it is one of the world's largest aerospace equipment manufacturers, weapons manufacturers and military technology providers. The acquisition of Orbital ATK was completed, and the former company was absorbed in Northrop Grumman as a new business sector in aerospace called Northrop Grumman Innovation Systems.

The company had nearly 101,000 employees and an annual revenue more than US$39.3 Billion in 2023.


  1. Airbus SE

Industry:  Aviation and Aerospace Component Manufacturing


About Us: Airbus SE is a European multinational aerospace corporation with headquarters in Toulouse, France (operational) and Leiden, Netherlands (legal). The company was founded in 1970. The company’s primary business is the design and manufacturing of commercial aircraft, but it also has separate defence and space. Since 2019, Airbus has been the world's largest manufacturer of aerospace as well as the leading Electric Propulsion System.

It operates in more than 150+ countries & employs over 147,893 (2023) people and had revenues of €65.45 Billion in 2023


  1. Aerojet Rocketdyne

Industry:  Aerospace


About Us:  Aerojet Rocketdyne is a subsidiary of American defense company L3Harris Technologies that manufactures rocket, hypersonic, and electric propulsive systems for space, defense, civil and commercial applications. Aerojet traces its origins to the General Tire and Rubber Company established in 1915, the company is headquartered in Palm Bay, Florida (US).

The company revenue for 2022 was listed at US$2.24 Billion and company had nearly 5,283 employees.


  1. Ad Astra Rocket Company

Industry:  Aviation & Aerospace and Defense Manufacturing


About Us:  The Ad Astra Rocket Company, a U.S. Delaware corporation, is a rocket propulsion company dedicated to the development of advanced plasma rocket propulsion technology and diverse technologies with the Variable Specific Impulse Magneto plasma Rocket (VASIMR®) engine as its flagship product. Located in Webster, Texas and company was incorporated on January 14, 2005.

The company had nearly 51-200 employees and reported nearly US$3.9 Million in revenue for 2023.


  1. ArianeGroup

Industry: Aviation and Aerospace


About Us: ArianeGroup is an aerospace company based in France. A joint venture between Airbus and Safran, the company was founded in 2015 and is headquartered in Issy-les-Moulineaux near Paris. It consists of three core groups: aerospace, defence, and security. ArianeGroup has developed its next-generation two-stage Ariane 6 launch vehicle, which succeeded the Ariane 5 rocket, that had more than 110 launches.

The company had approximately 10,000 employees, and it generated more than US$2.4 Billion in revenue in 2023.


  1. Thales Alenia Space

Industry:  Aerospace


About Us: Thales Alenia Space is a joint venture between the French technology corporation Thales Group (67%) and Italian defense conglomerate Leonardo (33%). The company is Founded in 2007 and headquartered in Cannes, France.

It provides space-based systems, including satellites and ground segments, used for telecommunications, navigation, earth observation, space exploration and scientific purposes. The company is the second largest industrial participant in the International Space Station (ISS).

The company had nearly 8,500 employees, and it generated more than US$ €2.2 Billion in revenue in 2022.

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