Space In-Orbit Refueling Market Size, Share and COVID-19 Impact Analysis, By Propulsion System Monopropellant Hydrazine Propulsion Systems, Bipropellant Propulsion Systems, Unified Propulsion Systems, Ion Propulsion Systems, and Others), By Orbit Type (GEO, LEO, and MEO), By Function (Propellant transfer, In-Orbit Rendezvous, and In-Orbit Propellant Storage), By Application (Earth Observation, Navigation, and Commercial) and Regional Forecast, 2024-2032

Space in-orbit refueling services include transferring propellants from one spacecraft to another while in orbit around the earth or any other celestial body. This process is typically carried out using specialized spacecraft known as a tanker or refueling spacecraft, designed to carry and transfer fuel to other spacecraft. The in-orbit refueling extends the operational lifetime and range, making it possible to reach more distant destinations in the solar system.

Key Market Insights

The space in-orbit refueling market is anticipated to grow in the research period. The growth is attributed to rising demand for sustainable and reusable space systems and increased efforts to reduce space debris.

Space sustainability is the key driver for the space in-orbit refueling market. Extending the life of existing satellites and restoring old satellites are necessary for sustainable space operations. Particularly for GEO satellites, the life extension, and in-orbit service market is very lucrative. The GEO satellites are the most expensive to launch among other satellites, and such life extension services can save high costs. Unlike earlier, when space satellites were declared as scrap even if their components were working and fully operational, now efforts are being made to extend the lifetime of such satellites by an increase in in-orbit refueling services.

Several startups and existing organizations have shown interest in this service. The startups are getting investments for space in-orbit life extension and debris removal services.

The cost of in-orbit services is significantly high. It can be justifiable for higher orbits like MEO and GEO only, where the cost of launching new satellites is extremely high. The high operational cost can be a restraining factor for the space in-orbit refueling market. Compatibility issues for docking due to the absence of standards can also hinder market growth.

Impact of COVID-19 on the Space In-Orbit Refueling Market

The pandemic affected almost every space industry business, both small and big. Majorly, small payers in the space industry were adversely affected due to vulnerabilities of economic shocks. There were increasing concerns about the medium and long-term effects of the crisis on budgets and demands, due to which many industry players experienced funding cuts for future programs. The COVID-19 pandemic compelled every individual, business, or organization to consider sustainability, optimal use of existing resources, and decreased wastage as much as possible. This made enterprises take steps toward sustainable space operations and reducing space junk.

The space in-orbit refueling market is segmented by propulsion systems which can be monopropellant hydrazine propulsion systems, bipropellant propulsion systems, unified propulsion systems, ion propulsion systems, and others. By orbit type, that is GEO, LEO, and MEO. Based on the function of the refueling vehicle, the market is studied across propellant transfer, in-orbit rendezvous, and in-orbit propellant storage. Based on application, in-orbit refueling can be segmented into earth observation, navigation, and commercial. By geography, that is North America, Europe, Asia Pacific, and the rest of the World.

Key Insights

The report will include the following key insights:

• The report analyzes a detailed industry overview, including qualitative and quantitative information.


• The report analyzes an overview and forecast of the space in-orbit refueling market based on various segments.


• The report also analyzes comprehensive PEST analysis for all five regions, i.e., North America, Europe, Asia Pacific, Rest of the World, after evaluating economic, social, political, and technological factors affecting the impact of the space in-orbit refueling market in these regions.

Regional Analysis

North America is expected to dominate the space in-orbit refueling market during the forecast period. The market dominance is attributed to several key players dealing in in-orbit services. The growth in in-orbit services is also attributed to the US having the most satellites. Thus significant investments are made in providing life extension services to extend the life of existing satellites instead of launching new satellites. Europe is also anticipated to have a significantly high market share due to the presence of some key players in in-orbit services.

Asia Pacific is predicted to have a moderate market share in the forecast period. However, Asia Pacific is predicted to experience considerable growth as some developing economies can increase their presence in the space industry. Those economies' steps towards sustainable space operations can also contribute to growth. 

Key Players Covered

The report covers the profiles of key players such as Astroscale, Altius space machines, D-ORBIT, Lockheed Martin Corporation, Maxar Technologies, Momentus Space, Orbit Fab, Inc., Orbit Recycling, Obruta Space Solutions Corp., LMO Space, Northrop Grumman, Space Machines Company Pty Ltd, and others.

Segmentation

Key Industry Developments

• In December 2022, a leader in space services, Astroscale and Japan Aerospace Exploration Agency (JAXA) announced they plan to join hands to create a new satellite refueling service. The companies aim to provide refueling service for one year in orbit to satellites.


• In July 2022, Northman Grumman bagged a contract of USD 22 million from U.S. Space Force to produce a satellite that will be used to carry out on–orbit refueling in geostationary orbit. The satellite was named ROOSTER, which is short for Rapid On-Orbit Space Technology Evaluation Ring.


• In November 2022, A Denver-based startup, Orbit Fab Inc., won a contract worth USD 13.3 million from the government to provide fuel for US Space Force satellites. The Orbit Fab is aiming to build a gas station in outer space.