Space Battery Market
PUBLISHED: 2024 ID: SMRC27258
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Space Battery Market

Space Battery Market Forecasts to 2030 - Global Analysis By Battery Type (Lithium-ion (Li-ion) Batteries, Nickel-Cadmium (Ni-Cd) Batteries, Nickel-Hydrogen (Ni-H2) Batteries, Silver-Zinc Batteries, Solid-state Batteries, Lead-acid Batteries and Other Battery Types), Battery Component, Power Capacity, Platform, Application, End User and By Geography

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4.5 (88 reviews)
Published: 2024 ID: SMRC27258

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Space Battery Market is accounted for $1.48 billion in 2024 and is expected to reach $1.92 billion by 2030 growing at a CAGR of 8.5% during the forecast period. A space battery is an energy storage device specifically designed for use in spacecraft and space missions. These batteries must withstand extreme conditions, including high radiation, vacuum environments, and temperature fluctuations. They are used due to their high energy density, reliability, and durability. Space batteries are crucial for satellites, space probes, and crewed missions, providing energy during eclipses or when solar panels are not in use, ensuring continuous operation in space environments.

Market Dynamics: 

Driver: 

Increasing space exploration

As space agencies and private companies launch more satellites, deep space probes, and crewed missions, the need for reliable and efficient power sources escalates. Space batteries must support critical systems and instruments throughout the mission, especially during periods when solar power is unavailable. This rising demand stimulates innovation and investment in battery technology, leading to advancements in energy density, durability, and performance. Consequently, the expanding scope of space exploration fuels both market growth and technological progress.

Restraint:

Harsh space environment

The harsh space environment includes extreme temperatures, high radiation levels, and vacuum conditions, all of which challenge the performance and durability of space batteries. These conditions can lead to battery degradation, reduced lifespan, and potential failures. Designing batteries that can withstand such environments requires advanced materials and technologies, which significantly increases development and production costs. Consequently, these can hamper market growth by limiting the pace of innovation and commercialization in the space battery sector.

Opportunity:

Growing commercial space sector

Private companies like SpaceX, Blue Origin, and others are expanding their satellite constellations, lunar missions, and deep space exploration initiatives, all of which require reliable and high-performance batteries. This surge in commercial activities drives innovation in battery technology, as companies seek to enhance energy density, lifespan, and durability. Additionally, the rise in commercial launches creates more opportunities for battery manufacturers, fostering competition and accelerating technological advancements in space batteries.

Threat:

High development costs

High development costs in space batteries stem from the need for specialized materials, rigorous testing, and compliance with stringent space mission standards. Designing batteries that can withstand extreme temperatures, radiation, and vacuum conditions requires significant R&D investment. Additionally, the expensive development process can result in higher prices for end-users, potentially deterring investment and adoption, and thereby hampering overall market growth.

Covid-19 Impact

The covid-19 pandemic disrupted the space battery market through supply chain interruptions, delays in manufacturing, and slowed space missions. Many space programs, both government and commercial, faced postponements due to restricted operations and funding reallocations. However, the pandemic also highlighted the importance of satellite-based communication and observation, which maintained demand for space batteries. As the space sector gradually recovered, investment in satellite technology and private space ventures resumed, helping to stabilize and revitalize the space battery market post-pandemic.

The launch vehicles segment is expected to be the largest during the forecast period

The launch vehicles segment is predicted to secure the largest market share throughout the forecast period. In launch vehicles, space batteries are essential for providing reliable power during the rocket's ascent and initial orbit insertion. They support critical systems such as avionics, communication, and guidance controls when the vehicle's main power sources, like fuel cells or solar arrays, are inactive. They are crucial for ensuring mission success and reliability.

The power supply segment is expected to have the highest CAGR during the forecast period

The power supply segment is anticipated to witness the highest CAGR during the forecast period. In power supply applications, space batteries are crucial for providing reliable and consistent energy to spacecraft and satellites. They power onboard systems, scientific instruments, and communication equipment, ensuring continuous operation even when solar panels are not generating power. Their performance directly impacts mission success, making advancements in battery technology essential for maintaining power stability and efficiency throughout the duration of space missions.

Region with largest share:

Asia Pacific is expected to have the largest market share during the forecast period due to increasing investments in space exploration and satellite deployment. Countries like China, India, and Japan are leading advancements in space technology, including developing space-grade batteries for satellites, space stations, and lunar missions. Additionally, regional initiatives, such as China’s space station and India's Chandrayaan missions, enhance opportunities for advanced energy storage solutions, making Asia-Pacific a critical market for space batteries.

Region with highest CAGR:

North America is projected to witness the highest CAGR over the forecast period, driven by the strong presence of major space agencies like NASA and private companies such as SpaceX and Blue Origin. The region leads in space exploration, satellite launches, and deep space missions, fueling demand for advanced energy storage solutions. Government funding for space programs and technological advancements in battery systems further contribute to market growth. North America's focus on lunar exploration, Mars missions, and defense applications ensures continued investment in space batteries, making it a critical hub for innovation in the sector.

Key players in the market

Some of the key players profiled in the Space Battery Market include EnerSys, Saft Groupe S.A., GS Yuasa Corporation, Mitsubishi Electric Corporation, Northrop Grumman, ABSL Power Solutions, EaglePicher Technologies, Panasonic Corporation, Maxar Technologies, VARTA AG, Tadiran Batteries, Amprius Technologies, FuelCell Energy, PowerTech Systems and Lanzo Batteries.

Key Developments:

In July 2024, Lanzo Batteries unveiled its new aerospace battery technology. This mission aims to integrate the high power density modular battery Lanzo’s high power density modular battery into UARX Space‘s Orbital Transfer Vehicle platform, known as Ossie, which will serve as a testbed for various experiments.

In May 2024, Mitsubishi Electric Corporation announced that it has been awarded a contract by the Japan Aerospace Exploration Agency (JAXA) to supply space-use lithium-ion batteries for the Gateway, a lunar orbiting space station. This will be the third time for Mitsubishi Electric to provide space-use lithium-ion batteries for the Artemis Program, including the Habitation and Logistics Outpost (HALO) and the International Habitation Module (I-Hab).

Battery Types Covered:
• Lithium-ion (Li-ion) Batteries
• Nickel-Cadmium (Ni-Cd) Batteries
• Nickel-Hydrogen (Ni-H2) Batteries
• Silver-Zinc Batteries
• Solid-state Batteries
• Lead-acid Batteries
• Other Battery Types

Battery Components Covered:
• Anode
• Cathode
• Electrolyte
• Separator
• Current Collector
• Other Battery Components

Power Capacities Covered:
• Low Power (<100 Watt-hours)
• Medium Power (100-500 Watt-hours)
• High Power (>500 Watt-hours)

Platforms Covered:
• Satellites
• Launch Vehicles
• Space Rovers
• Space Probes
• Space Stations
• Other Platforms

Applications Covered:
• Power Supply
• Energy Storage
• Propulsion Systems
• Communications Systems
• Scientific Research Instruments
• Other Applications

End Users Covered:
• Government Space Agencies
• Commercial Space Companies
• Defense & Military
• Research Institutes
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary   
     
2 Preface    
 2.1 Abstract   
 2.2 Stake Holders  
 2.3 Research Scope  
 2.4 Research Methodology 
  2.4.1 Data Mining 
  2.4.2 Data Analysis 
  2.4.3 Data Validation 
  2.4.4 Research Approach 
 2.5 Research Sources  
  2.5.1 Primary Research Sources
  2.5.2 Secondary Research Sources
  2.5.3 Assumptions 
     
3 Market Trend Analysis  
 3.1 Introduction  
 3.2 Drivers   
 3.3 Restraints  
 3.4 Opportunities  
 3.5 Threats   
 3.6 Application Analysis 
 3.7 End User Analysis  
 3.8 Emerging Markets  
 3.9 Impact of Covid-19  
     
4 Porters Five Force Analysis  
 4.1 Bargaining power of suppliers 
 4.2 Bargaining power of buyers 
 4.3 Threat of substitutes 
 4.4 Threat of new entrants 
 4.5 Competitive rivalry  
     
5 Global Space Battery Market, By Battery Type
 5.1 Introduction  
 5.2 Lithium-ion (Li-ion) Batteries 
 5.3 Nickel-Cadmium (Ni-Cd) Batteries
 5.4 Nickel-Hydrogen (Ni-H2) Batteries
 5.5 Silver-Zinc Batteries 
 5.6 Solid-state Batteries 
 5.7 Lead-acid Batteries  
 5.8 Other Battery Types  
     
6 Global Space Battery Market, By Battery Component
 6.1 Introduction  
 6.2 Anode   
 6.3 Cathode   
 6.4 Electrolyte  
 6.5 Separator  
 6.6 Current Collector  
 6.7 Other Battery Components 
     
7 Global Space Battery Market, By Power Capacity
 7.1 Introduction  
 7.2 Low Power (<100 Watt-hours) 
 7.3 Medium Power (100-500 Watt-hours)
 7.4 High Power (>500 Watt-hours) 
     
8 Global Space Battery Market, By Platform
 8.1 Introduction  
 8.2 Satellites   
 8.3 Launch Vehicles  
 8.4 Space Rovers  
 8.5 Space Probes  
 8.6 Space Stations  
 8.7 Other Platforms  
     
9 Global Space Battery Market, By Application
 9.1 Introduction  
 9.2 Power Supply  
 9.3 Energy Storage  
 9.4 Propulsion Systems  
 9.5 Communications Systems 
 9.6 Scientific Research Instruments
 9.7 Other Applications  
     
10 Global Space Battery Market, By End User
 10.1 Introduction  
 10.2 Government Space Agencies 
 10.3 Commercial Space Companies 
 10.4 Defense & Military  
 10.5 Research Institutes  
 10.6 Other End Users  
     
11 Global Space Battery Market, By Geography
 11.1 Introduction  
 11.2 North America  
  11.2.1 US  
  11.2.2 Canada  
  11.2.3 Mexico  
 11.3 Europe   
  11.3.1 Germany  
  11.3.2 UK  
  11.3.3 Italy  
  11.3.4 France  
  11.3.5 Spain  
  11.3.6 Rest of Europe 
 11.4 Asia Pacific  
  11.4.1 Japan  
  11.4.2 China  
  11.4.3 India  
  11.4.4 Australia  
  11.4.5 New Zealand 
  11.4.6 South Korea 
  11.4.7 Rest of Asia Pacific 
 11.5 South America  
  11.5.1 Argentina 
  11.5.2 Brazil  
  11.5.3 Chile  
  11.5.4 Rest of South America
 11.6 Middle East & Africa 
  11.6.1 Saudi Arabia 
  11.6.2 UAE  
  11.6.3 Qatar  
  11.6.4 South Africa 
  11.6.5 Rest of Middle East & Africa
     
12 Key Developments   
 12.1 Agreements, Partnerships, Collaborations and Joint Ventures
 12.2 Acquisitions & Mergers 
 12.3 New Product Launch 
 12.4 Expansions  
 12.5 Other Key Strategies 
     
13 Company Profiling   
 13.1 EnerSys   
 13.2 Saft Groupe S.A.  
 13.3 GS Yuasa Corporation 
 13.4 Mitsubishi Electric Corporation
 13.5 Northrop Grumman  
 13.6 ABSL Power Solutions 
 13.7 EaglePicher Technologies 
 13.8 Panasonic Corporation 
 13.9 Maxar Technologies  
 13.10 VARTA AG  
 13.11 Tadiran Batteries  
 13.12 Amprius Technologies 
 13.13 FuelCell Energy  
 13.14 PowerTech Systems  
 13.15 Lanzo Batteries  
     
List of Tables    
1 Global Space Battery Market Outlook, By Region (2022-2030) ($MN)
2 Global Space Battery Market Outlook, By Battery Type (2022-2030) ($MN)
3 Global Space Battery Market Outlook, By Lithium-ion (Li-ion) Batteries (2022-2030) ($MN)
4 Global Space Battery Market Outlook, By Nickel-Cadmium (Ni-Cd) Batteries (2022-2030) ($MN)
5 Global Space Battery Market Outlook, By Nickel-Hydrogen (Ni-H2) Batteries (2022-2030) ($MN)
6 Global Space Battery Market Outlook, By Silver-Zinc Batteries (2022-2030) ($MN)
7 Global Space Battery Market Outlook, By Solid-state Batteries (2022-2030) ($MN)
8 Global Space Battery Market Outlook, By Lead-acid Batteries (2022-2030) ($MN)
9 Global Space Battery Market Outlook, By Other Battery Types (2022-2030) ($MN)
10 Global Space Battery Market Outlook, By Battery Component (2022-2030) ($MN)
11 Global Space Battery Market Outlook, By Anode (2022-2030) ($MN)
12 Global Space Battery Market Outlook, By Cathode (2022-2030) ($MN)
13 Global Space Battery Market Outlook, By Electrolyte (2022-2030) ($MN)
14 Global Space Battery Market Outlook, By Separator (2022-2030) ($MN)
15 Global Space Battery Market Outlook, By Current Collector (2022-2030) ($MN)
16 Global Space Battery Market Outlook, By Other Battery Components (2022-2030) ($MN)
17 Global Space Battery Market Outlook, By Power Capacity (2022-2030) ($MN)
18 Global Space Battery Market Outlook, By Low Power (<100 Watt-hours) (2022-2030) ($MN)
19 Global Space Battery Market Outlook, By Medium Power (100-500 Watt-hours) (2022-2030) ($MN)
20 Global Space Battery Market Outlook, By High Power (>500 Watt-hours) (2022-2030) ($MN)
21 Global Space Battery Market Outlook, By Platform (2022-2030) ($MN)
22 Global Space Battery Market Outlook, By Satellites (2022-2030) ($MN)
23 Global Space Battery Market Outlook, By Launch Vehicles (2022-2030) ($MN)
24 Global Space Battery Market Outlook, By Space Rovers (2022-2030) ($MN)
25 Global Space Battery Market Outlook, By Space Probes (2022-2030) ($MN)
26 Global Space Battery Market Outlook, By Space Stations (2022-2030) ($MN)
27 Global Space Battery Market Outlook, By Other Platforms (2022-2030) ($MN)
28 Global Space Battery Market Outlook, By Application (2022-2030) ($MN)
29 Global Space Battery Market Outlook, By Power Supply (2022-2030) ($MN)
30 Global Space Battery Market Outlook, By Energy Storage (2022-2030) ($MN)
31 Global Space Battery Market Outlook, By Propulsion Systems (2022-2030) ($MN)
32 Global Space Battery Market Outlook, By Communications Systems (2022-2030) ($MN)
33 Global Space Battery Market Outlook, By Scientific Research Instruments (2022-2030) ($MN)
34 Global Space Battery Market Outlook, By Other Applications (2022-2030) ($MN)
35 Global Space Battery Market Outlook, By End User (2022-2030) ($MN)
36 Global Space Battery Market Outlook, By Government Space Agencies (2022-2030) ($MN)
37 Global Space Battery Market Outlook, By Commercial Space Companies (2022-2030) ($MN)
38 Global Space Battery Market Outlook, By Defense & Military (2022-2030) ($MN)
39 Global Space Battery Market Outlook, By Research Institutes (2022-2030) ($MN)
40 Global Space Battery Market Outlook, By Other End Users (2022-2030) ($MN)
     
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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