---

Market Overview

---

The global space-based fuel management system market is projected to reach $45,124.1 million in 2032, growing at a rate of 1.58% during the forecast period 2022-2032, compared to $22,229.5 million in 2021. This growth is fueled by the increasing demand from the commercial industry. The market ecosystem consists of system manufacturers, original equipment manufacturers (OEMs), and end users.

Between 2022 and 2032, more than 45,000 satellites are expected to be launched, with around 90% to 92% being small satellites operating in low Earth orbit (LEO). For LEO missions, effective fuel management is crucial due to the risk of orbital decay. This has led to a rising demand for components and subsystems needed by small satellites, as the small satellite market continues to grow.

Propulsion systems are being miniaturized and standardized for serial production, which is driving the deployment of propulsion systems in large volumes across multiple missions. This trend is particularly seen in smaller and lighter satellites, typically under 500 kg, in LEO that require electric propulsion systems for orbital maneuvers. Electric propulsion is also gaining popularity in the geostationary Earth orbit (GEO) category, further contributing to the space-based fuel management system market.

Several factors contribute to the growth of this market. Technologies like integrated propulsion systems have the potential to enhance space applications. Companies in the space-based fuel management system market are investing in research and development to develop new innovative technologies that improve space systems.

The increasing number of smaller telecom satellites in LEO, including upcoming mega-constellations, is driving the demand for space-based fuel management systems. Additionally, there is a growing focus on developing cost-effective systems for satellites through research and development activities.

The drivers for the market include the increasing demand for fuel management systems due to the serial production of satellites and launch vehicles, as well as the need for customization of satellite and launch vehicle platforms. The challenges include the emergence of modular propulsion solutions that minimize the need for standardized fuel management systems and the evolution of integrated propulsion solutions that limit the choice of fuel management system components. The market also presents opportunities for the development of new environmentally friendly spacecraft fuels.

---

Market Segmentation

---

The market is segmented based on various factors, including application, component, and region.

Segmentation by Application
Satellite
Launch Vehicle
Deep Space Vehicle

Segmentation by Component
Sensors
Valves
Flow Controllers
Mass Flow Sensors
Pressure Transducers
Particle Filters
Plumbing/Tubing

Segmentation by Region
North America – U.S., Canada
Europe – France, Germany, Russia, U.K., and Rest-of-Europe
Asia-Pacific – China, India, Japan, and Rest-of-Asia-Pacific
Rest-of-the-World – Middle East and Africa and Latin America

The satellite application type segment is expected to dominate the global space-based fuel management system market during the forecast period 2022-2032. In 2021, its market size was $21.1 billion, and it is projected to reach $43.45 billion by 2032, registering a CAGR of 1.51% in the forecast period. The launch vehicle segment is anticipated to emerge as the second dominant segment in the application by 2032, growing at a CAGR of 3.87% during the forecast period.

Satellites are commonly used for communication, Earth observation, navigation, and tracking purposes. However, there is a growing trend in the space industry to place satellites in orbit to improve communication services. In recent years, there has been a shift from occasional satellite use to routine use in satellite constellations in low Earth orbit (LEO). The demand for LEO-based satellite constellations is driven by the need for real-time tracking and monitoring, real-time Earth observation (EO), navigation, communication, and technological demonstration.

In 2021, the plumbing and tubing segment had the highest market penetration. It reported $9.63 billion in revenue and is expected to grow at a CAGR of 1.17% during the forecast period 2022-2032, reaching $19.07 billion by 2032. This segment is driven by the increasing development of small satellite constellations for communication, Earth observation, and remote sensing. The plumbing and tubing segment is an essential part of the electric propulsion system, connecting the propellant tank to the thruster chamber. The amount of tubing required varies based on the satellite’s size, with larger satellites requiring more tubing than smaller ones.

North America accounted for the highest market share of 54.85% by volume in 2021, primarily due to the presence of major companies such as Lockheed Martin and Northrop Grumman in the region. Latin America had a share of 24.72% in 2021 and is expected to witness the highest growth during the forecast period, driven by space activities in the U.K., France, and Russia. Increased spending by commercial space organizations and government agencies, such as the Ariane Group, Airbus S.A.S, Lockheed Martin, Moog, and Northrop Grumman, is expected to drive significant growth in the space-based fuel management system market. The U.S., being technologically advanced and hosting a large number of satellites, is a key player in the space sector, with both established companies and startups contributing to the growth of the propulsion system department.

---

Competitive Landscape

---

The selection of the companies profiled was based on inputs obtained from primary experts and an analysis of factors such as the company’s coverage, product portfolio, and market penetration.

The market is primarily led by well-established players in the fuel management systems for satellites segment, which represent 80% of the market presence. There are also startup entities that comprise approximately 20% of the market presence.

Key companies profiled in this report include Airbus, Accion Systems, Benchmark Space System, Cobham, Exotrail, IHI Aerospace Co. Ltd, Lockheed Martin Corporation, Microcosm Inc., Moog Inc., Northrop Grumman, Orbion Space Technology, Reaction Engines, Safran S.A., Thales Alenia Space, ThrustMe.

---

Recent Industry Developments

---

In July 2022, Thales Alenia Space was awarded a $2.4 million contract by the European Space Agency (ESA) to develop Skimsat, a small satellite bus designed for very low Earth orbit (VLEO). The scope of the contract also includes the development of electrical propulsion systems to counter air drag in VLEO.

In August 2022, Astra Space secured a contract from Airbus for the development of electric propulsion systems utilizing xenon and krypton as propellants for its range of small satellites.

In August 2021, the European Space Agency entered into a contract with Airbus for the construction of European Service Module (ESM) propulsion systems for the Orion spacecraft. These propulsion systems will be responsible for orbital maneuvering and position control.

In April 2021, Lockheed Martin received a $2.9 million contract from the U.S. Department of Defense agency DARPA to construct and demonstrate nuclear-based propulsion systems by 2025. These systems will power spacecraft intended for missions beyond Low Earth Orbit (LEO).

---

Key Questions Answered

---

What are the emerging trends in the space-based fuel management system market, and how is the market projected to evolve from 2022 to 2032?

What are the main factors driving growth and the challenges faced by companies operating in the space-based fuel management system market?

How is the market anticipated to expand during the forecast period of 2022-2032?

What opportunities exist for companies to enhance their market presence in the space-based fuel management system industry?

Which region is expected to dominate the space-based fuel management system market by 2032?

What are the key strategies employed by the leading players to sustain their competitiveness in this market?

What is the current and future revenue outlook for the space-based fuel management system market?