Plasma Rocket Propulsion Global Market Report 2025

Plasma Rocket Propulsion Market Overview

• Plasma Rocket Propulsion market size has reached to $1.42 billion in 2024

• Expected to grow to $2.16 billion in 2029 at a compound annual growth rate (CAGR) of 8.7%

• Growth Driver: Increasing Satellite Launches Fueling The Growth Of The Market Due To Rising Demand For Global Connectivity

• Market Trend: Advanced Electric Rocket Engine Targets Mars Missions

• North America was the largest region in 2024 and  is the fastest growing region.

What Is Covered Under Plasma Rocket Propulsion Market?

Plasma rocket propulsion is an advanced space propulsion technology that uses electrically charged gases (plasma) accelerated by electric or magnetic fields to generate thrust. This technology enables higher exhaust velocities than traditional chemical rockets, making it efficient for long-duration space missions. The main purpose is to enable faster and more fuel-efficient space travel, particularly for deep-space missions.

The main types of plasma rocket propulsion are electrothermal, electromagnetic, and electrostatic. Plasma rocket propulsion is a propulsion technology that generates thrust by accelerating ionized gas (plasma) using electric or magnetic fields, enabling efficient and sustained space travel. It is widely used in various applications, including spacecraft, satellites, and space probes, and serves diverse end users such as commercial entities, military operations, and scientific research organizations.

What Is The Plasma Rocket Propulsion Market Size 2025 And Growth Rate?

The plasma rocket propulsion market size has grown strongly in recent years. It will grow from $1.42 billion in 2024 to $1.55 billion in 2025 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to increasing demand for satellite launches, rising investment in space exploration, a rise in government-funded space programs, growing interest in deep space missions, and expanding adoption of electric propulsion systems.

What’s The Trade War Impact On Aerospace And Defense Industry?

The sharp hike in U.S. tariffs and the associated trade disputes in spring 2025 are notably impacting the aerospace and defense sector by raising costs for titanium, carbon fiber composites, and avionics materials largely sourced from global suppliers. Defense contractors, locked into fixed-price government contracts, absorb these added costs, while commercial aerospace firms face airline pushback on higher aircraft prices. Delays in component shipments due to customs bottlenecks further disrupt tight production schedules for jets and satellites. The industry is responding by stockpiling critical materials, seeking waivers for defense-related imports, and collaborating with allied nations to diversify supply chain.

How is the Plasma Rocket Propulsion Market Segmented?

1) By Type: Electrothermal, Electromagnetic, Electrostatic

2) By Application: Spacecraft, Satellites, Space Probes, Other Applications

3) By End-User: Commercial, Military, Scientific Research

Subsegments:

1) By Electrothermal: Resistojet, Arcjet

2) By Electromagnetic: Magnetoplasmadynamic (MPD) Thrusters, Pulsed Inductive Thrusters (PIT), Helicon Double Layer Thrusters

3) By Electrostatic: Hall Effect Thrusters, Ion Thrusters, Gridded Ion Engines

What Is Driving The Plasma Rocket Propulsion Market? Increasing Satellite Launches Fueling The Growth Of The Market Due To Rising Demand For Global Connectivity

The increasing satellite launches are expected to propel the growth of the plasma rocket propulsion market going forward. Satellite launches refer to the process of sending artificial satellites into space using launch vehicles or rockets. The increasing demand for satellite launches is due to the rising need for global connectivity as more regions seek reliable internet access through satellite-based broadband services. Plasma rocket propulsion enhances satellite launches by offering high-efficiency thrust systems, enabling longer mission durations and precise orbital adjustments. It reduces fuel requirements while increasing performance, supporting more sustainable and advanced space operations. For instance, in September 2022, according to the Government Accountability Office, a US-based government agency, there were nearly 5,500 active satellites in orbit, with projections suggesting the launch of an additional 58,000 by 2030. Therefore, the increasing satellite launches are driving the growth of the plasma rocket propulsion market.

What Is Driving The Plasma Rocket Propulsion Market? Increasing Satellite Launches Fueling The Growth Of The Market Due To Rising Demand For Global Connectivity

The increasing satellite launches are expected to propel the growth of the plasma rocket propulsion market going forward. Satellite launches refer to the process of sending artificial satellites into space using launch vehicles or rockets. The increasing demand for satellite launches is due to the rising need for global connectivity as more regions seek reliable internet access through satellite-based broadband services. Plasma rocket propulsion enhances satellite launches by offering high-efficiency thrust systems, enabling longer mission durations and precise orbital adjustments. It reduces fuel requirements while increasing performance, supporting more sustainable and advanced space operations. For instance, in September 2022, according to the Government Accountability Office, a US-based government agency, there were nearly 5,500 active satellites in orbit, with projections suggesting the launch of an additional 58,000 by 2030. Therefore, the increasing satellite launches are driving the growth of the plasma rocket propulsion industry.

Who Are The Major Players In The Global Plasma Rocket Propulsion Market?

Major Companies operating in the plasma rocket propulsion market are Lockheed Martin Corporation, Northrop Grumman Corporation, Blue Origin LLC, Moog Inc., Thales Alenia Space SAS, Airbus Defence and Space GmbH, OHB System AG, Sitael SpA, Phase Four Inc., ExoTerra Resource LLC, Exotrail SAS, Morpheus Space GmbH, Busek Co. Inc., Magdrive Ltd, Ad Astra Rocket Company, CU Aerospace LLC, ENPULSION GmbH, Howe Industries LLC, Neutron Star Systems UG, Orbion Space Technology Inc.

Who Are The Major Players In The Global Plasma Rocket Propulsion Market?

Major Companies operating in the plasma rocket propulsion market are Lockheed Martin Corporation, Northrop Grumman Corporation, Blue Origin LLC, Moog Inc., Thales Alenia Space SAS, Airbus Defence and Space GmbH, OHB System AG, Sitael SpA, Phase Four Inc., ExoTerra Resource LLC, Exotrail SAS, Morpheus Space GmbH, Busek Co. Inc., Magdrive Ltd, Ad Astra Rocket Company, CU Aerospace LLC, ENPULSION GmbH, Howe Industries LLC, Neutron Star Systems UG, Orbion Space Technology Inc.

What Are The Key Trends Of The Global Plasma Rocket Propulsion Market? Advanced Electric Rocket Engine Targets Mars Missions

Major companies operating in the plasma rocket propulsion market are focusing on developing innovative solutions, such as magnetic plasma accelerator-based electric thrusters, to enhance propulsion efficiency and enable longer-duration space missions. Magnetic plasma accelerator-based electric thrusters use magnetic fields to push plasma for thrust. They help plasma rocket propulsion by providing high efficiency and long-duration performance. For instance, in February 2025, State Atomic Energy Corporation Rosatom, a Russia-based nuclear energy company, launched a laboratory prototype of a plasma electric rocket engine designed for deep-space missions, including potential travel to Mars. This engine utilizes a magnetic plasma accelerator capable of generating at least 6 Newtons of thrust with a specific impulse exceeding 100 kilometers per second, operating at an average power of 300 kilowatts in a pulsed-periodic mode. This advanced propulsion system allows spacecraft to achieve significantly higher velocities compared to traditional engines while reducing fuel consumption by up to tenfold, potentially shortening the journey to Mars to just 30–60 days.

What Are The Key Trends Of The Global Plasma Rocket Propulsion Market? Advanced Electric Rocket Engine Targets Mars Missions

Major companies operating in the plasma rocket propulsion market are focusing on developing innovative solutions, such as magnetic plasma accelerator-based electric thrusters, to enhance propulsion efficiency and enable longer-duration space missions. Magnetic plasma accelerator-based electric thrusters use magnetic fields to push plasma for thrust. They help plasma rocket propulsion by providing high efficiency and long-duration performance. For instance, in February 2025, State Atomic Energy Corporation Rosatom, a Russia-based nuclear energy company, launched a laboratory prototype of a plasma electric rocket engine designed for deep-space missions, including potential travel to Mars. This engine utilizes a magnetic plasma accelerator capable of generating at least 6 Newtons of thrust with a specific impulse exceeding 100 kilometers per second, operating at an average power of 300 kilowatts in a pulsed-periodic mode. This advanced propulsion system allows spacecraft to achieve significantly higher velocities compared to traditional engines while reducing fuel consumption by up to tenfold, potentially shortening the journey to Mars to just 30–60 days.

What Are Latest Mergers And Acquisitions In The Plasma Rocket Propulsion Market? Benchmark Enhances Hybrid Propulsion With AASC Acquisition

In October 2022, Benchmark Space Systems Inc., a US-based aerospace and defense company, acquired Alameda Applied Sciences Corporation for an undisclosed amount. With this acquisition, Benchmark Space Systems aims to enhance hybrid propulsion by integrating AASC’s metal plasma thrusters for efficient and precise satellite maneuvering. Alameda Applied Sciences Corporation is a US-based aerospace and defense technology company focused on developing advanced plasma-based propulsion systems.

What Are Latest Mergers And Acquisitions In The Plasma Rocket Propulsion Market? Benchmark Enhances Hybrid Propulsion With AASC Acquisition

In October 2022, Benchmark Space Systems Inc., a US-based aerospace and defense company, acquired Alameda Applied Sciences Corporation for an undisclosed amount. With this acquisition, Benchmark Space Systems aims to enhance hybrid propulsion by integrating AASC’s metal plasma thrusters for efficient and precise satellite maneuvering. Alameda Applied Sciences Corporation is a US-based aerospace and defense technology company focused on developing advanced plasma-based propulsion systems.

What Is The Regional Outlook For The Global Plasma Rocket Propulsion Market?

North America was the largest region in the plasma rocket propulsion market in 2024. The regions covered in the plasma rocket propulsion market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the plasma rocket propulsion market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

What Is The Regional Outlook For The Global Plasma Rocket Propulsion Market?

North America was the largest region in the plasma rocket propulsion market in 2024. The regions covered in this market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in this market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

What Defines the Plasma Rocket Propulsion Market?

The plasma rocket propulsion market consists of revenues earned by entities by providing services such as development and testing services, satellite propulsion integration, research and consulting services, maintenance and technical support, and custom propulsion solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. The plasma rocket propulsion market includes sales of electric propulsion systems, ion thrusters, hall-effect thrusters, plasma generators, and spacecraft propulsion modules. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

What Defines the Plasma Rocket Propulsion Market?

The plasma rocket propulsion market consists of revenues earned by entities by providing services such as development and testing services, satellite propulsion integration, research and consulting services, maintenance and technical support, and custom propulsion solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. The plasma rocket propulsion market includes sales of electric propulsion systems, ion thrusters, hall-effect thrusters, plasma generators, and spacecraft propulsion modules. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

What is the Market Assessment and Strategic Outlook for the Plasma Rocket Propulsion Industry?

The plasma rocket propulsion market research report is one of a series of new reports from The Business Research Company that provides plasma rocket propulsion market statistics, including plasma rocket propulsion industry global market size, regional shares, competitors with plasma rocket propulsion market share, detailed space rocket steering systems market segments, market trends and opportunities, and any further data you may need to thrive in the plasma rocket propulsion industry. The plasma rocket propulsion market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

What is the Market Assessment and Strategic Outlook for the Plasma Rocket Propulsion Industry?

The plasma rocket propulsion market research report is one of a series of new reports from The Business Research Company that provides market statistics, including plasma rocket propulsion industry global market size, regional shares, competitors with market share, detailed space rocket steering systems market segments, market trends and opportunities, and any further data you may need to thrive in the plasma rocket propulsion industry. The plasma rocket propulsion market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.