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The US space propulsion industry is experiencing growth driven by its democratization, commercialization, and expansion by new key players. In addition to the space exploration market, demand for satellites has increased. Satellite utilities include communications for military and commercial applications, imaging, surveillance/reconnaissance, in-flight airline services, and more. As the need for instruments in space increases, so does the number of launches and the growing concern about related economic and environmental impacts.

Reliance on traditional propulsion systems is changing over to next-generation systems that will expand product utility in the space market and adhere to new environmental regulations. The development and introduction of alternative systems has brought considerable growth to the US space launch vehicle propulsion market. During the forecast period (2022–2027), these innovative propulsion systems will drive market growth, owing to the expected increase in space launches and the introduction of space tourism by new key players. The many benefits of low Earth orbit (LEO) satellites will also drive market growth during the forecast period.