Top 6 Space Propulsion Systems Manufacturers & Companies in the world

The global space propulsion systems market would likely grow at a CAGR of 14.1% during 2025-2034. ‘Thrust’ drives a rocket through space and air. The rocket’s propulsion system generates thrust; different propulsion systems generate thrust in different ways through the application of Newton's third law of motion. Asia, North America and Europe are likely to be key markets. 

Space Propulsion Industry News: Key Acquisitions & Strategic Partnerships

In January 2024, RocketStar, Inc., a leading innovator in space exploration and satellite services, announced a series of milestones that position the company to capitalize on the $10 billion space propulsion market.

Phase Four has signed a strategic cooperation agreement with Redwire Space to develop and supply Hall Effect Thrusters (HETs) for government and commercial markets, expanding its capabilities and product offerings.

In June 2024, Agile Space Industries acquired 3D printing service bureau Tronix3D for an undisclosed amount, rebranding it as Agile Additive. The subsidiary will enhance aerospace supply chain efficiency and drive innovation in metal 3D printing.

In October 2022, Benchmark Space Systems has agreed to acquire Alameda Applied Sciences Corporation’s (AASC) electric propulsion technologies to advance hybrid spacecraft that utilize in-space resources and repurposed space debris.

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Top 6 Space Propulsion Leaders: Global Market Analysis & Trends 2025

1. Northrop Grumman Corporation

Northrop Grumman Corporation specializes in engineering, IT, military, electronics, software engineering, supply chain, systems engineering, logistics, manufacturing, defence, unmanned systems, aerospace, cyber, c4isr, advanced electronics, cyber security, directed energy, and space. Northrop Grumman is an international aerospace, defence and security company. The company chiefly works with the U.S. government (Department of Defense and intelligence community). The company serves international and commercial customers.

2. Safran S.A.

Safran S.A. specializes in aerospace, defence, engineering, optronics, jet engines, helicopter engines, rocket engines, safety-critical software, inertial guidance, propulsion systems, and aerosystems. The company is a leading high-technology group active in aviation (equipment, propulsion, and interiors), defence and space markets. It has global presence with over 75,000 employees and enjoys, alone or in partnership, world or European leadership positions in its core markets.

3. Moog Inc.

Moog Inc. specializes in aircraft, servovalve, simulation, control, industrial, defence, systems, motion, hydraulics, actuation, and engineering jobs. Moog Inc. is an international manufacturer, designer, and integrator of precision control components and systems. The company seeks to invest in future technologies expected to impact domains including defence, space, industrial, aircraft, medical, and others.

4. Rafael Advanced Defense Systems Ltd.

Rafael Advanced Defense Systems Ltd. is engaged in defence, innovation, and technological ingenuity. The company has introduced several defence solutions for land, air, space, sea, and cyber. It seeks to offer innovative solutions for evolving combat needs.

5. IHI Corporation

IHI Corporation is engaged in the production of ships, aircraft engines, turbochargers for industrial machines, automobiles, power station boilers and other facilities, suspension bridges and other transport-related machinery.

6. OHB System AG

OHB System AG specializes in Human Spaceflight & Robotics, Space Technology, Earth Observation, Navigation Satellites, Exploration & Sciences, Telecommunication Satellites, Reconnaissance Satellite Systems, and Security & Defence. OHB SE is a leading German space and technology group and an autonomous force in the European space industry. It offers customers a variety of innovative products in three business units – Aerospace, Space Systems and Digital.