Space Power Supply Market
PUBLISHED: 2024 ID: SMRC27460
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Space Power Supply Market

Space Power Supply Market Forecasts to 2030 - Global Analysis By Type (Solar Panels, Batteries, Fuel Cells, Thermal Energy Systems, Nuclear Power Sources, Radioisotope Thermoelectric Generators (RTGs), and Other Types), Power Source, Battery Shape, Platform, Voltage Type, Application, End User and By Geography

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4.9 (98 reviews)
Published: 2024 ID: SMRC27460

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Space Power Supply Market is accounted for $3.13 billion in 2024 and is expected to reach $5.08 billion by 2030 growing at a CAGR of 8.4% during the forecast period. The systems and technologies that supply energy to satellites and spacecraft to ensure their proper operation during missions that might last anywhere from a few minutes to several years are referred to as space power supplies. Power supply systems for space applications are developed, manufactured, and distributed by the space power supply market. Nuclear power sources, fuel cells, batteries, and solar panels are important parts. 

Market Dynamics: 

Driver: 

Increasing space exploration activities

Growing space exploration efforts by both public and private organizations to investigate celestial bodies and carry out scientific research are major factors driving the space power supply market. The need for sophisticated power supply systems that can sustain extended space missions is increasing as a result of programs like NASA's Artemis program, which aims to send humans back to the Moon, and other Mars missions. New technologies are being made possible by the explosion of space exploration investments and partnerships, which is fostering innovation and expansion in the power supply industry.

Restraint:

High development costs

Space mission manufacturers and organizations face major obstacles due to the high development costs in the space power supply market. Smaller businesses may not be able to afford the specialized materials and technology needed for the complex design and manufacturing of modern power systems. Costs are further increased by the need for intensive testing and quality assurance due to strict regulatory requirements. Since only well-funded organizations may be able to pay the required investments in research and development, these financial obstacles may impede innovation and competitiveness. As a result, these exorbitant expenses may hinder the rate of progress in space power supply solutions, which could affect the expansion of the market as a whole.

Opportunity:

Rising demand for satellites

The increasing demand for satellites for communication, navigation, Earth observation, and remote sensing applications worldwide is a major factor propelling the space power supply market. Reliable power supply systems are becoming increasingly important as governments and business organizations increase satellite constellations to improve connectivity and data collection. These technologies guarantee that satellite operations, such as payload management, telemetry, and propulsion, continue uninterrupted. Innovation in power solutions is also being fuelled by developments in satellite technology, such as CubeSats and tiny satellites.

Threat:

Limited availability of resources

The development of advanced power systems is severely hampered by the space power supply market's limited resource availability. As demand for innovative materials and technologies rises, the supply chain faces strain, making it difficult to source the necessary components for efficient power generation and storage. Furthermore, a lot of current power systems are inefficient or too large to handle the demanding needs of upcoming space missions. This lack of enough resources might cause project schedule delays and expense increases, which will ultimately impede the development of space power supply systems.

Covid-19 Impact

The interruptions in global supply chains caused by the COVID-19 epidemic had a significant effect on the space power supply market. Lockdowns and restrictions caused major delays in the production and delivery of critical components, which affected project timetables and raised space mission costs. These issues were made worse by a shortage of workers, which resulted in a decrease in manufacturing facilities' operational capacity. 

The solar panels segment is expected to be the largest during the forecast period

The solar panels segment is estimated to be the largest. Spacecraft weight and complexity are decreased by their capacity to capture energy straight from the sun, eliminating away with the requirement for fuel or other onboard energy storage. Furthermore, solar panels have a high power-to-weight ratio, which makes them perfect for missions requiring prolonged operation. Solar panels are growing increasingly appealing for space applications as solar cell technology advances, providing increased efficiency and reduced costs. Additionally, the need for solar power supply is being driven by the expansion of satellite constellations and the rising demand for space-based services.

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

The satellites segment is anticipated to witness the highest CAGR during the forecast period, because of increased connection for broadband internet, telephony, and disaster management, the growing need for global communication and data services, and developments in satellite technology, including miniaturization and small satellites. Demand for satellites is also fuelled by the increased emphasis on Earth observation for urban planning, agriculture, and climate monitoring. Reliable, effective power systems are essential for satellite operations as countries make investments in space capabilities.

Region with largest share:

Asia Pacific is expected to have the largest market share during the forecast period due to as a result of growing expenditures on satellite deployment and exploration as well as improvements in space technology. China, India, Japan, and other nations are growing their space programs, emphasizing both private sector participation and government-led projects. The market is expanding due to the need for communication, navigation, and Earth observation satellites; capabilities are being improved through partnerships and more investment for R&D.

Region with highest CAGR:

Europe is projected to witness the highest CAGR over the forecast period. Government programs and cooperation amongst European space organizations are driving the European space power supply market. The region's communications, navigation, and Earth observation capabilities are being enhanced by investments in satellite technology and space exploration initiatives. The need for sophisticated power supply systems is being driven by the European Union's commitment to a competitive space industry and the increasing participation of the private sector in space endeavours. 

Key players in the market

Some of the key players profiled in the Space Power Supply Market include Lockheed Martin Corporation, Airbus Defense and Space, Northrop Grumman Corporation, Boeing Company, Maxar Technologies, OHB SE, Ball Aerospace & Technologies Corp., Mitsubishi Electric Corporation, Thales Alenia Space, Honeywell International Inc., L3Harris Technologies, Inc., BAE Systems, Sierra Nevada Corporation, SpaceX, Leonardo S.p.A., Safran Power Units, Teledyne Technologies, Rocket Lab, Astronics Corporation, and Astrodyne TDI.

Key Developments:

In September 2023, Northrop Grumman secured contracts to supply power systems for upcoming defense and communication satellites, focusing on enhanced resilience and sustainability.

In January 2021, NASA awarded Boeing’s Spectrolab a contract for six additional solar arrays for the International Space Station, aimed at increasing power by 20% to 30%.

Types Covered:
• Solar Panels
• Batteries
• Fuel Cells
• Thermal Energy Systems
• Nuclear Power Sources
• Radioisotope Thermoelectric Generators (RTGs)
• Other Types

Power Sources Covered:
• Solar Power
• Chemical Power
• Nuclear Power

Battery Shapes Covered:
• Cylindrical Batteries
• Prismatic Batteries
• Pouch-Type Batteries

Platforms Covered:
• Satellites
• Spacecraft
• Space Stations
• Launch Vehicles

Voltage Types Covered:
• Low Voltage Power Supply
• Medium Voltage Power Supply
• High Voltage Power Supply

Applications Covered:
• Earth Observation Satellites
• Communication Satellites
• Navigation Satellites
• Scientific Exploration
• Manned Space Missions
• Other Applications

End Users Covered:
• Commercial
• Military & Defense
• Government & Research Organizations
• 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 Power Supply Market, By Type      
 5.1 Introduction        
 5.2 Solar Panels        
 5.3 Batteries         
 5.4 Fuel Cells        
 5.5 Thermal Energy Systems       
 5.6 Nuclear Power Sources       
 5.7 Radioisotope Thermoelectric Generators (RTGs)     
 5.8 Other Types        
           
6 Global Space Power Supply Market, By Power Source     
 6.1 Introduction        
 6.2 Solar Power        
 6.3 Chemical Power        
 6.4 Nuclear Power        
           
7 Global Space Power Supply Market, By Battery Shape     
 7.1 Introduction        
 7.2 Cylindrical Batteries       
 7.3 Prismatic Batteries        
 7.4 Pouch-Type Batteries       
           
8 Global Space Power Supply Market, By Platform      
 8.1 Introduction        
 8.2 Satellites         
 8.3 Spacecraft        
 8.4 Space Stations        
 8.5 Launch Vehicles        
           
9 Global Space Power Supply Market, By Voltage Type     
 9.1 Introduction        
 9.2 Low Voltage Power Supply       
 9.3 Medium Voltage Power Supply      
 9.4 High Voltage Power Supply       
           
10 Global Space Power Supply Market, By Application      
 10.1 Introduction        
 10.2 Earth Observation Satellites       
 10.3 Communication Satellites       
 10.4 Navigation Satellites       
 10.5 Scientific Exploration       
 10.6 Manned Space Missions       
 10.7 Other Applications        
           
11 Global Space Power Supply Market, By End User      
 11.1 Introduction        
 11.2 Commercial        
 11.3 Military & Defense        
 11.4 Government & Research Organizations      
 11.5 Other End Users        
           
12 Global Space Power Supply Market, By Geography      
 12.1 Introduction        
 12.2 North America        
  12.2.1 US        
  12.2.2 Canada        
  12.2.3 Mexico        
 12.3 Europe         
  12.3.1 Germany        
  12.3.2 UK        
  12.3.3 Italy        
  12.3.4 France        
  12.3.5 Spain        
  12.3.6 Rest of Europe       
 12.4 Asia Pacific        
  12.4.1 Japan        
  12.4.2 China        
  12.4.3 India        
  12.4.4 Australia        
  12.4.5 New Zealand       
  12.4.6 South Korea       
  12.4.7 Rest of Asia Pacific       
 12.5 South America        
  12.5.1 Argentina       
  12.5.2 Brazil        
  12.5.3 Chile        
  12.5.4 Rest of South America      
 12.6 Middle East & Africa       
  12.6.1 Saudi Arabia       
  12.6.2 UAE        
  12.6.3 Qatar        
  12.6.4 South Africa       
  12.6.5 Rest of Middle East & Africa      
           
13 Key Developments         
 13.1 Agreements, Partnerships, Collaborations and Joint Ventures    
 13.2 Acquisitions & Mergers       
 13.3 New Product Launch       
 13.4 Expansions        
 13.5 Other Key Strategies       
           
14 Company Profiling         
 14.1 Lockheed Martin Corporation       
 14.2 Airbus Defense and Space       
 14.3 Northrop Grumman Corporation      
 14.4 Boeing Company        
 14.5 Maxar Technologies        
 14.6 OHB SE         
 14.7 Ball Aerospace & Technologies Corp.      
 14.8 Mitsubishi Electric Corporation      
 14.9 Thales Alenia Space        
 14.10 Honeywell International Inc.       
 14.11 L3Harris Technologies, Inc.       
 14.12 BAE Systems        
 14.13 Sierra Nevada Corporation       
 14.14 SpaceX         
 14.15 Leonardo S.p.A.        
 14.16 Safran Power Units        
 14.17 Teledyne Technologies       
 14.18 Rocket Lab        
 14.19 Astronics Corporation       
 14.20 Astrodyne TDI        
           
List of Tables          
1 Global Space Power Supply Market Outlook, By Region (2022-2030) ($MN)   
2 Global Space Power Supply Market Outlook, By Type (2022-2030) ($MN)    
3 Global Space Power Supply Market Outlook, By Solar Panels (2022-2030) ($MN)   
4 Global Space Power Supply Market Outlook, By Batteries (2022-2030) ($MN)   
5 Global Space Power Supply Market Outlook, By Fuel Cells (2022-2030) ($MN)   
6 Global Space Power Supply Market Outlook, By Thermal Energy Systems (2022-2030) ($MN)  
7 Global Space Power Supply Market Outlook, By Nuclear Power Sources (2022-2030) ($MN)  
8 Global Space Power Supply Market Outlook, By Radioisotope Thermoelectric Generators (RTGs) (2022-2030) ($MN)
9 Global Space Power Supply Market Outlook, By Other Types (2022-2030) ($MN)   
10 Global Space Power Supply Market Outlook, By Power Source (2022-2030) ($MN)   
11 Global Space Power Supply Market Outlook, By Solar Power (2022-2030) ($MN)   
12 Global Space Power Supply Market Outlook, By Chemical Power (2022-2030) ($MN)  
13 Global Space Power Supply Market Outlook, By Nuclear Power (2022-2030) ($MN)   
14 Global Space Power Supply Market Outlook, By Battery Shape
 (2022-2030) ($MN)   
15 Global Space Power Supply Market Outlook, By Cylindrical Batteries (2022-2030) ($MN)  
16 Global Space Power Supply Market Outlook, By Prismatic Batteries (2022-2030) ($MN)  
17 Global Space Power Supply Market Outlook, By Pouch-Type Batteries (2022-2030) ($MN)  
18 Global Space Power Supply Market Outlook, By Platform (2022-2030) ($MN)   
19 Global Space Power Supply Market Outlook, By Satellites (2022-2030) ($MN)   
20 Global Space Power Supply Market Outlook, By Spacecraft (2022-2030) ($MN)   
21 Global Space Power Supply Market Outlook, By Space Stations (2022-2030) ($MN)   
22 Global Space Power Supply Market Outlook, By Launch Vehicles (2022-2030) ($MN)   
23 Global Space Power Supply Market Outlook, By Voltage Type (2022-2030) ($MN)   
24 Global Space Power Supply Market Outlook, By Low Voltage Power Supply (2022-2030) ($MN) 
25 Global Space Power Supply Market Outlook, By Medium Voltage Power Supply (2022-2030) ($MN) 
26 Global Space Power Supply Market Outlook, By High Voltage Power Supply (2022-2030) ($MN) 
27 Global Space Power Supply Market Outlook, By Application (2022-2030) ($MN)   
28 Global Space Power Supply Market Outlook, By Earth Observation Satellites (2022-2030) ($MN) 
29 Global Space Power Supply Market Outlook, By Communication Satellites (2022-2030) ($MN)  
30 Global Space Power Supply Market Outlook, By Navigation Satellites (2022-2030) ($MN)  
31 Global Space Power Supply Market Outlook, By Scientific Exploration (2022-2030) ($MN)  
32 Global Space Power Supply Market Outlook, By Manned Space Missions (2022-2030) ($MN)  
33 Global Space Power Supply Market Outlook, By Other Applications (2022-2030) ($MN)  
34 Global Space Power Supply Market Outlook, By End User (2022-2030) ($MN)   
35 Global Space Power Supply Market Outlook, By Commercial (2022-2030) ($MN)   
36 Global Space Power Supply Market Outlook, By Military & Defense (2022-2030) ($MN)  
37 Global Space Power Supply Market Outlook, By Government & Research Organizations (2022-2030) ($MN)
38 Global Space Power Supply Market Outlook, By Other End Users (2022-2030) ($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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