Space Power Supply Market - A Global and Regional Analysis

Focus on Application and Product - Analysis and Forecast, 2022-2032

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A quick peek into the report

Market Report Coverage

Space Power Supply Market
Forecast Period:2022-2032
CAGR During Forecast Period: 1.66%

Space Power Supply Market

Base Year

2021

Market Size in 2021

$2,624.6 Million

Forecast Period

2022-2032

Value Projection and Estimation by 2032

$5,174.6 Million

CAGR During Forecast Period

1.66%

Number of Tables

 

Number of Pages

167

Number of Figures

 

 

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

The top segment players leading the market include established players providing space power supply solutions and constitute 70% of the presence in the market. Other players include start-up entities, which account for approximately 30% of the presence in the market.

Competitive Synopsis

Space Power Supply Market

Some of the prominent established names in this market are:

Company Type 1: Solar Cell and Solar Array Manufacturers

•    AAC Clyde Space
•    Airbus S.A.S.
•    AZUR SPACE Solar Power GmbH
•    Northrop Grumman Corporation
•    Sierra Nevada Corporation
•    Rocket Lab
•    mPower Technology, Inc.

Company Type 2: Primary and Secondary Manufacturers

•   EaglePicher Technologies
•   GS Yuasa Lithium Power
•   GomSpace

Company Type 3: Others

•    Skylabs
•    NanoAvionics
•    ISISPACE GROUP 
•    Teledyne Technologies Incorporated

Companies that are not a part of the previously-mentioned pool have been well represented across different sections of the report (wherever applicable).

How can this report add value to an organization?

The study provides the reader with a detailed understanding of the different space power supply products based on applications and

Product/Innovation Strategy: The product segment helps the reader understand the different types of space power supply products available for deployment in the industries and their potential globally. Moreover, the study provides the reader with a detailed understanding of the different space power supply products based on applications (launch vehicles, satellites, and deep space exploration) and products (solar panels, power management devices, batteries, and power converters).

Growth/Marketing Strategy: The global space power supply market has seen major development by key players operating in the market, such as business expansions, contracts, partnerships, collaborations, and joint ventures. The favored strategy for the companies has been inorganic strategies such as contracts and partnerships to strengthen their position in the space power supply market. For instance, in February 2022, Aerojet Rocketdyne, in collaboration with Teledyne Energy Systems Inc. to develop the MMRTG energy systems, would power upcoming NASA missions to the moons of Saturn and Neptune.

Competitive Strategy: Key players in the global space power supply market analyzed and profiled in the study involve space power supply product manufacturers that provide solar cells/arrays, batteries, and power modules. Moreover, a detailed competitive benchmarking of the players operating in the global space power supply market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as contracts, partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Industry & Technology Overview

The market is estimated to reach $5,174.6 million in 2032 from $2,624.6 million in 2021.

Global Space Power Supply Industry Overview

The global space power supply market is estimated to reach $5,174.6 million in 2032 from $2,624.6 million in 2021, at a growth rate of 1.66% during the forecast period 2022-2032. The growth in the space power supply market is majorly attributed to the growing number of satellite launches and the development of reusable launch systems.

Market Lifecycle Stage

The space industry has seen several technological breakthroughs since the launch of the first artificial satellite, Sputnik, in 1957. There are a variety of space-based applications for which various space exploration missions are planned, and the success of each space mission is dependent on the technology onboard the spacecraft.

When a spacecraft is out in space, the first concern is to select the source of energy to run the mission objectives. The power subsystems used for spacecraft in space must be strong to withstand the harsh environments of radiation and thermal fluctuations. Hence, the need for a strong and reliable power subsystem has always been present in the market.

Several research and development projects are underway to produce advanced space power supply solutions, which are expected to increase with the upcoming mega-constellations as well as with the rising interest in deep-space exploration. Various power subsystems that are currently used are solar cells, primary and non-rechargeable batteries, thermoelectric generators, and fuel cells. Space is a huge market with unlimited opportunities, and power systems are required across all platforms to ensure proper functionality. As a result, the market for space power supply is well-established.

Global Space Power Supply Market, $Million, 2021-2032

Impact

•   With technical breakthroughs, the size of satellites being built for mega-constellations is diminishing. CubeSats and nanosats are becoming the satellites of the future. These CubeSats and nanosats are made up of complex subsystems to perform advanced applications with high power consumption demand. This has, in turn, placed a high demand for mass production of space power supply solutions that are capable of providing maximum energy while reducing weight and size.
•     Furthermore, rising interest among space agencies in conducting long-term deep space missions has resulted in the need for specialized power systems that can support complex missions for significantly longer time periods.

Market Segmentation:

•    Segmentation 1: by Application
      o    Launch Vehicles
      o    Satellites
      o    Deep Space Exploration
      
Based on applications, the global space power supply market is expected to be dominated by the satellites segment. The major factor contributing to this growth is the launch of small satellite mega-constellations by companies such as SpaceX and OneWeb.

•    Segmentation 2: by Product
     o    Solar Panel
     o    Power Management Devices
     o    Batteries
     o    Power Converters

Based on products, the global space power supply market is expected to be dominated by the solar panel segment. One of the major factors contributing to this growth is the growing demand for solar arrays for several satellite missions.

•    Segmentation 3: by Region
      o    North America - U.S. and Canada, 
      o    Europe - France, Germany, Russia, U.K, and Rest-of-Europe
      o    Asia-Pacific - China, Japan, India, and Rest-of-Asia-Pacific
      o    Rest-of-the-World

In the global space power supply market, North America generated the highest revenue of $1,516.3 million in 2022, which is attributed to the high presence of the key companies highly engaged in developing and providing space power supply solutions in the region.

Recent Developments in Global Space Power Supply Market

•    In May 2020, EaglePicher Technologies was selected by NASA to supply a variety of batteries for its Perseverance mission. During its launch, Atlas V used ten silver-zinc batteries. Atlas V's main power system, pryo system, and flight termination system were powered by these batteries. The rover’s main power system was powered by two rechargeable lithium-ion batteries.    
•   In May 2021, NASA chose Honeybee Robotics and mPower Technology to design and develop a vertically deployable solar array for the Lunar Array Mast and Power System (LAMPS) project.    
•   In January 2021, NASA awarded a contract to Boeing’s Spectrolab to provide six more solar arrays for International Space Station (ISS). The new solar array would provide a 20% to 30% increase in power.
•     In January 2022, the U.K.-based Space Forge awarded AAC Clyde Space a $0.4 million contract to provide space products to be used by a demonstration spacecraft. This spacecraft is designed to perform multiple trips to space and to utilize the space environment for production and scientific experimentation.

Demand - Drivers, Challenges, and Opportunities

Following are the drivers for the space power supply market:

•    Increasing Development of LEO Satellites and Reusable Launch Vehicles
•    Evolving Mission Requirements Leading to Demand for Enhanced Space Power Requirements

Following are the challenges for the space power supply market:

•    Scalability of Space Power Solutions to Address the Increasing Serial Production of Small Satellites
•    Lack of Customized Space Power Solutions

Following are the opportunities for the space power supply market:

•    Entrance of Non-Space Power Solutions Provider into the Space Industry
•    Increasing Demand for Mass Production of Space Power Solutions

Analyst Thoughts

According to Arun Sampathkumar, Principal Analyst, BIS Research, "With close to 3,000 satellites to be launched every year, the demand for satellite subsystems and components is rising rapidly. The satellite manufacturing domain is migrating to an automotive-style serial production format. From a power perspective, the demand for efficient and lighter power subsystems and components is growing, especially in the micro-satellite segment. Non-space battery and associated power electronics suppliers will have new opportunities within the space industry owing to the satellite manufacturers expanding their supplier base due to the need for enhanced production capacity to enable their serial production aspirations.”

Table of Contents

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1.1    Industry Outlook
         1.1.1    Space Power Supply Market: Overview
                     1.1.1.1    Evolving Power Requirements for LEO-based and Deep Space Missions
                     1.1.1.2    Factors Impacting the Power Budget of Small-Satellites and All-Electric Satellites
         1.1.2    Supply Chain Analysis
1.2    Business Dynamics
         1.2.1    Business Drivers
                     1.2.1.1    Increasing Development of LEO Satellites and Reusable Launch Vehicles
                     1.2.1.2    Evolving Mission Requirements Leading to Demand for Enhanced Space Power Requirements
         1.2.2    Business Challenge
                     1.2.2.1    Scalability of Space Power Solutions to Address the Increasing Serial Production of Small Satellites
                     1.2.2.2    Lack of Customized Space Power Solutions
         1.2.3    Business Strategy
                     1.2.3.1    Business Strategies
                     1.2.3.2    Corporate Strategies
         1.2.4    Business Opportunities
                     1.2.4.1    Entrance of Non-Space Power Solutions Provider into the Space Industry
                     1.2.4.2    Increasing Demand for Mass Production of Space Power Solutions

2.1    Global Space Power Supply Market (by Application)
         2.1.1    Market Overview
                     2.1.1.1    Demand Analysis of Space Power Supply Market (by Application)
         2.1.2    Launch Vehicles
                     2.1.2.1    Small and Medium-Lift Launch Vehicles
                     2.1.2.2    Heavy and Super Heavy-Lift Launch Vehicles
         2.1.3    Satellites
                     2.1.3.1    Small Satellites (0-500 Kg)
                     2.1.3.2    Medium Satellites (501-1,000 Kg)
                     2.1.3.3    Large Satellites (1,000 Kg and Above)
         2.1.4    Deep Space Exploration
                     2.1.4.1    Lander
                     2.1.4.2    Rover
                     2.1.4.3    Orbiter

3.1    Global Space Power Supply Market (by Product)
         3.1.1    Market Overview
                     3.1.1.1    Demand Analysis of Space Power Supply Market (by Product)
         3.1.2    Solar Cells
                     3.1.2.1    Solar Panels and Arrays
         3.1.3    Batteries
                     3.1.3.1    Primary Batteries
                     3.1.3.2    Secondary Batteries
         3.1.4    Power Management Devices
         3.1.5    Power Converters

4.1    Global Space Power Supply Market (by Region)
4.2    North America
         4.2.1    Markets
                     4.2.1.1    Key Players in North America
         4.2.2    Application
                     4.2.2.1    North America Space Power Supply Market (by Application)
         4.2.3    North America (by Country)
                     4.2.3.1    U.S.
                                    4.2.3.1.1    Markets
                                                      4.2.3.1.1.1    Key players in the U.S.
                                    4.2.3.1.2    Application
                                                      4.2.3.1.2.1    U.S. Space Power Supply Market (by Application)
                     4.2.3.2    Canada
                                    4.2.3.2.1    Markets
                                                      4.2.3.2.1.1    Key Players in Canada
                                    4.2.3.2.2    Application
                                                      4.2.3.2.2.1    Canada Space Power Supply Market (by Application)
4.3    Europe
         4.3.1    Markets
                     4.3.1.1    Key Players in Europe
         4.3.2    Application
                     4.3.2.1    Europe Space Power Supply Market (by Application)
         4.3.3    Europe (by Country)
                     4.3.3.1    France
                                    4.3.3.1.1    Markets
                                                      4.3.3.1.1.1    Key Players in France
                                    4.3.3.1.2    Application
                                                      4.3.3.1.2.1    France Space Power Supply Market (by Application)
                     4.3.3.2    Germany
                                    4.3.3.2.1    Markets
                                                      4.3.3.2.1.1    Key Players in Germany
                                    4.3.3.2.2    Application
                                                      4.3.3.2.2.1    Germany Space Power Supply Market (by Satellite)
                     4.3.3.3    U.K.
                                    4.3.3.3.1    Markets
                                                      4.3.3.3.1.1    Key Players in the U.K.
                                    4.3.3.3.2    Application
                                                      4.3.3.3.2.1    U.K. Space Power Supply Market (by Application)
                     4.3.3.4    Russia
                                    4.3.3.4.1    Markets
                                                      4.3.3.4.1.1    Key Players in Russia
                                    4.3.3.4.2    Application
                                                      4.3.3.4.2.1    Russia Space Power Supply Market (by Application)
                     4.3.3.5    Rest-of-Europe
                                    4.3.3.5.1    Markets
                                                      4.3.3.5.1.1    Key Players in Rest-of-Europe
                                    4.3.3.5.2    Application
                                                      4.3.3.5.2.1    Rest-of-Europe Space Power Supply Market (by Application)
4.4    Asia-Pacific
         4.4.1    Markets
                     4.4.1.1    Key Players in Asia-Pacific
         4.4.2    Application
                     4.4.2.1    Asia-Pacific Space Power Supply Market (by Application)
         4.4.3    Asia-Pacific (by Country)
                     4.4.3.1    China
                                    4.4.3.1.1    Markets
                                                      4.4.3.1.1.1    Key Players in China
                                    4.4.3.1.2    Application
                                                      4.4.3.1.2.1    China Space Power Supply Market (by Application)
                     4.4.3.2    Japan
                                    4.4.3.2.1    Markets
                                                      4.4.3.2.1.1    Key Players in Japan
                                    4.4.3.2.2    Application
                                                      4.4.3.2.2.1    Japan Space Power Supply Market (by Application)
                     4.4.3.3    India
                                    4.4.3.3.1    Markets
                                                      4.4.3.3.1.1    Key Players in India
                                    4.4.3.3.2    Application
                                                      4.4.3.3.2.1    India Space Power Supply Market (by Application)
                     4.4.3.4    Rest-of-Asia-Pacific
                                    4.4.3.4.1    Market
                                                      4.4.3.4.1.1    Key Players in Rest-of-Asia-Pacific
                                    4.4.3.4.2    Application
                                                      4.4.3.4.2.1    Rest-of-Asia-Pacific Space Power Supply Market (by Application)
4.5    Rest-of-the-World
         4.5.1    Markets
                     4.5.1.1    Key Players in Rest-of-the-World
         4.5.2    Application
                     4.5.2.1    Rest-of-the-World Space Power Supply Market (by Application)

5.1    Market Share Analysis
5.2    Company Profiles
         5.2.1    AAC Clyde Space
                     5.2.1.1    Company Overview
                                    5.2.1.1.1    Role of AAC Clyde Space in the Global Space Power Supply Market
                                    5.2.1.1.2    Product Portfolio
                     5.2.1.2    Corporate Strategies
                                    5.2.1.2.1    Partnerships and Contracts
                     5.2.1.3    Analyst View
         5.2.2    Airbus S.A.S.
                     5.2.2.1    Company Overview
                                    5.2.2.1.1    Role of Airbus S.A.S. in the Global Space Power Supply Market
                                    5.2.2.1.2    Product Portfolio
                     5.2.2.2    Corporate Strategies
                                    5.2.2.2.1    Investments and Contracts
                     5.2.2.3    Analyst View
         5.2.3    AZUR SPACE Solar Power GmbH
                     5.2.3.1    Company Overview
                                    5.2.3.1.1    Role of AZUR SPACE Solar Power GmbH in the Global Space Power Supply Market
                                    5.2.3.1.2    Product Portfolio
                     5.2.3.2    Business Strategies
                                    5.2.3.2.1    New Product Development
                     5.2.3.3    Corporate Strategies
                                    5.2.3.3.1    Agreement and Acquisition
                     5.2.3.4    Analyst View
         5.2.4    Cobham Advanced Electronic Solutions
                     5.2.4.1    Company Overview
                                    5.2.4.1.1    Role of Cobham Advanced Electronic Solutions in the Global Space Power Supply Market
                                    5.2.4.1.2    Product Portfolio
                     5.2.4.2    Business Strategies
                                    5.2.4.2.1    New Product Development
                     5.2.4.3    Analyst View
         5.2.5    EaglePicher Technologies
                     5.2.5.1    Company Overview
                                    5.2.5.1.1    Role of EaglePicher Technologies in the Global Space Power Supply Market
                                    5.2.5.1.2    Product Portfolio
                     5.2.5.2    Corporate Strategies
                                    5.2.5.2.1    Agreements and Contracts
                     5.2.5.3    Analyst View
         5.2.6    GS Yuasa Lithium Power
                     5.2.6.1    Company Overview
                                    5.2.6.1.1    Role of GS Yuasa Lithium Power in the Global Space Power Supply Market
                                    5.2.6.1.2    Product Portfolio
                     5.2.6.2    Business Strategies
                                    5.2.6.2.1    Business Expansion and Testing
                     5.2.6.3    Analyst View
         5.2.7    Northrop Grumman Corporation
                     5.2.7.1    Company Overview
                                    5.2.7.1.1    Role of Northrop Grumman Corporation in the Global Space Power Supply Market
                                    5.2.7.1.2    Product Portfolio
                     5.2.7.2    Corporate Strategies
                                    5.2.7.2.1    Contract
                     5.2.7.3    Analyst View
         5.2.8    Sierra Nevada Corporation
                     5.2.8.1    Company Overview
                                    5.2.8.1.1    Role of Sierra Nevada Corporation in the Global Space Power Supply Market
                                    5.2.8.1.2    Product Portfolio
                     5.2.8.2    Analyst View
         5.2.9    Rocket Lab
                     5.2.9.1    Company Overview
                                    5.2.9.1.1    Role of Rocket Lab in the Global Space Power Supply Market
                                    5.2.9.1.2    Product Portfolio
                     5.2.9.2    Corporate Strategies
                                    5.2.9.2.1    Funding, Acquisitions, Partnerships, and Contracts
                     5.2.9.3    Analyst View
       5.2.10    Spectrolab
                     5.2.10.1    Company Overview
                                      5.2.10.1.1    Role of Spectrolab in the Global Space Power Supply Market
                                      5.2.10.1.2    Product Portfolio
                     5.2.10.2    Corporate Strategies
                                      5.2.10.2.1    Partnerships and Contracts
                     5.2.10.3    Analyst View
       5.2.11    Teledyne Technologies Incorporated
                     5.2.11.1    Company Overview
                                      5.2.11.1.1    Role of Teledyne Technologies Incorporated in the Global Space Power Supply Market
                                      5.2.11.1.2    Product Portfolio
                     5.2.11.2    Business Strategies
                                      5.2.11.2.1    New Product Development
                     5.2.11.3    Analyst View
       5.2.12    Berlin Space Technologies GmbH
                     5.2.12.1    Company Overview
                                      5.2.12.1.1    Role of Berlin Space Technologies GmbH in the Global Space Power Supply Market
                                      5.2.12.1.2    Product Portfolio
                     5.2.12.2    Analyst View
       5.2.13    Blue Canyon Technologies LLC
                     5.2.13.1    Company Overview
                                      5.2.13.1.1    Role of Blue Canyon Technologies LLC in the Global Space Power Supply Market
                                      5.2.13.1.2    Product Portfolio
                     5.2.13.2    Analyst View
       5.2.14    Dhruva Space Private Limited
                     5.2.14.1    Company Overview
                                      5.2.14.1.1    Role of Dhruva Space Private Limited in the Global Space Power Supply Market
                                      5.2.14.1.2    Product Portfolio
                     5.2.14.2    Business Strategies
                                      5.2.14.2.1    Agreement
                     5.2.14.3    Analyst View
       5.2.15    DHV Technology
                     5.2.15.1    Company Overview
                                      5.2.15.1.1    Role of DHV Technology in the Global Space Power Supply Market
                                      5.2.15.1.2    Product Portfolio
                     5.2.15.2    Corporate Strategies
                                      5.2.15.2.1    Contracts
                     5.2.15.3    Analyst View
       5.2.16    EnduroSat
                     5.2.16.1    Company Overview
                                      5.2.16.1.1    Role of EnduroSat in the Global Space Power Supply Market
                                      5.2.16.1.2    Product Portfolio
                     5.2.16.2    Corporate Strategies
                                      5.2.16.2.1    Agreements
                     5.2.16.3    Analyst View
       5.2.17    G.A.U.S.S Srl
                     5.2.17.1    Company Overview
                                      5.2.17.1.1    Role of G.A.U.S.S. Srl in the Global Space Power Supply Market
                                      5.2.17.1.2    Product Portfolio
                     5.2.17.2    Business Strategies
                                      5.2.17.2.1    New Product Development
                     5.2.17.3    Analyst View
       5.2.18    GomSpace
                     5.2.18.1    Company Overview
                                      5.2.18.1.1    Role of GomSpace in the Global Space Power Supply Market
                                      5.2.18.1.2    Product Portfolio
                     5.2.18.2    Corporate Strategies
                                      5.2.18.2.1    Contracts
                     5.2.18.3    Analyst View
       5.2.19    ISISPACE GROUP
                     5.2.19.1    Company Overview
                                      5.2.19.1.1    Role of ISISPACE GROUP in the Global Space Power Supply Market
                                      5.2.19.1.2    Product Portfolio
                     5.2.19.2    Corporate Strategies
                                      5.2.19.2.1    Partnerships, Collaborations, Agreements, Investments, and Contracts
                     5.2.19.3    Analyst View
       5.2.20    JinkoSolar Holding Co., Ltd.
                     5.2.20.1    Company Overview
                                      5.2.20.1.1    Role of JinkoSolar Holding Co., Ltd. in the Global Space Power Supply Market
                     5.2.20.2    Business Strategies
                                      5.2.20.2.1    New Product Development
                     5.2.20.3    Analyst View
       5.2.21    mPower Technology, Inc.
                     5.2.21.1    Company Overview
                                      5.2.21.1.1    Role of mPower Technology, Inc. in the Global Space Power Supply Market
                                      5.2.21.1.2    Product Portfolio
                     5.2.21.2    Business Strategies
                                      5.2.21.2.1    New Product Development
                     5.2.21.3    Corporate Strategies
                                      5.2.21.3.1    Partnerships and Contracts
                     5.2.21.4    Analyst View
       5.2.22    NanoAvionics
                     5.2.22.1    Company Overview
                                      5.2.22.1.1    Role of NanoAvionics in the Global Space Power Supply Market
                                      5.2.22.1.2    Product Portfolio
                     5.2.22.2    Analyst View
       5.2.23    Redwire Corporation
                     5.2.23.1    Company Overview
                                      5.2.23.1.1    Role of Redwire Corporation in the Global Space Power Supply Market
                                      5.2.23.1.2    Product Portfolio
                     5.2.23.2    Corporate Strategies
                                      5.2.23.2.1    Partnerships, Collaborations, Agreements, and Contracts
                     5.2.23.3    Analyst View
       5.2.24    Solestial
                     5.2.24.1    Company Overview
                                      5.2.24.1.1    Role of Solestial in the Global Space Power Supply Market
                                      5.2.24.1.2    Product Portfolio
                     5.2.24.2    Analyst View
       5.2.25    Skylabs
                     5.2.25.1    Company Overview
                                      5.2.25.1.1    Role of Skylabs in the Global Space Power Supply Market
                                      5.2.25.1.2    Product Portfolio
                     5.2.25.2    Analyst View
       5.2.26    SpaceTech GmbH Immenstaad (STI)
                     5.2.26.1    Company Overview
                                      5.2.26.1.1    Role of SpaceTech GmbH Immenstaad (STI) in the Global Space Power Supply Market
                                      5.2.26.1.2    Product Portfolio
                     5.2.26.2    Corporate Strategies
                                      5.2.26.2.1    New Product Development
                     5.2.26.3    Business Strategies
                                      5.2.26.3.1    Partnerships, Collaborations, Agreements, Investments, and Contracts
                     5.2.26.4    Analyst View
       5.2.27    Other Key Players
                     5.2.27.1    CESI S.p.A.
                                      5.2.27.1.1    Company Overview
                     5.2.27.2    INVAP
                                      5.2.27.2.1    Company Overview
                     5.2.27.3    Fralock Holdings
                                      5.2.27.3.1    Company Overview
                     5.2.27.4    Mitsubishi Electric Corporation
                                      5.2.27.4.1    Company Overview
                     5.2.27.5    RUAG Group
                                      5.2.27.5.1    Company Overview
                     5.2.27.6    Saft
                                      5.2.27.6.1    Company Overview
                     5.2.27.7    Thales Group
                                      5.2.27.7.1    Company Overview

6.1    Space and Non-Space Power Solution Manufacturers
         6.1.1    Growth Opportunity: Serial Production of Space Power Solutions
         6.1.2    Recommendation
6.2    Satellite/Launch Vehicle Manufacturers
         6.2.1    Growth Opportunity: Advanced Automation Technologies
         6.2.2    Recommendation
6.3    Regional Business Expansion
         6.3.1    Growth Opportunity: Deep Space Missions
         6.3.2    Recommendation

Research Methodology

Table 1:    Global Space Power Supply Market (by Application), Volume (Number of Units), 2021-2032
Table 2:    Global Space Power Supply Market (by Application), Value ($Million), 2021-2032
Table 3:    Global Space Power Supply Market (by Launch Vehicles), Volume (Number of Units), 2021-2032
Table 4:    Global Space Power Supply Market (by Launch Vehicles), Value ($Million), 2021-2032
Table 5:    Global Space Power Supply Market (by Satellites), Volume (Number of Units), 2021-2032
Table 6:    Global Space Power Supply Market (by Satellites), Value ($Million), 2021-2032
Table 7:    Global Space Power Supply Market, (by Product), Volume (Number of Units), 2021-2032
Table 8:    Global Space Power Supply Market, (by Product), Value ($Million), 2021-2032
Table 9:    Common Batteries Used in Space
Table 10:    Global Space Power Supply Market (by Region), Volume (Number of Units), 2021-2032
Table 11:    Global Space Power Supply Market (by Region), Value ($Million), 2021-2032
Table 12:    North America Space Power Supply Market (by Application), Value ($Million) and Volume (Number of Units), 2021-2032
Table 13:    U.S. Space Power Supply Market (by Application), Value ($Million) and Volume (Number of Units), 2021-2032
Table 14:    Canada Space Power Supply Market (by Application), Value ($Million) and Volume (Number of Units), 2021-2032
Table 15:    Europe Space Power Supply Market (by Application), Value ($Million)and Volume (Number of Units), 2021-2032
Table 16:    France Space Power Supply Market (by Application), Value ($Million)and Volume (Number of Units), 2021-2032
Table 17:    Germany Space Power Supply Market (by Satellite), Value ($Million) and Volume (Number of Units), 2021-2032
Table 18:    U.K. Space Power Supply Market (by Application), Value ($Million) and Volume (Number of Units), 2021-2032
Table 19:    Russia Space Power Supply Market (by Application), Value ($Million) and Volume (Number of Units), 2021-2032
Table 20:    Rest-of-Europe Space Power Supply Market (by Application), Value ($Million) and Volume (Number of Units), 2021-2032
Table 21:    Asia-Pacific Space Power Supply Market (by Application), Value ($Million) and Volume (Number of Units),  2021-2032
Table 22:    China Space Power Supply Market (by Application), Value ($Million) and Volume (Number of Units), 2021-2032
Table 23:    Japan Space Power Supply Market (by Application), Value ($Million) and Volume (Number of Units), 2021-2032
Table 24:    India Space Power Supply Market (by Application), Value ($Million) and Volume (Number of Units), 2021-2032
Table 25:    Rest-of-Asia-Pacific Space Power Supply Market (by Application), Value ($Million) and Volume (Number of Units), 2021-2032
Table 26:    Rest-of-the-World Space Power Supply Market (by Application), Value ($Million) and Volume (Number of Units), 2021-2032
Table 27:    AAC Clyde Space: Product Portfolio
Table 28:    AAC Clyde Space: Contracts
Table 29:    Airbus S.A.S: Product Portfolio
Table 30:    Airbus S.A.S.: Investments and Contracts
Table 31:    AZUR SPACE Solar Power GmbH: Product Portfolio
Table 32:    AZUR SPACE Solar Power GmbH: New Product Development
Table 33:    AZUR SPACE Solar Power GmbH: Agreement and Acquisition
Table 34:    Cobham Advanced Electronic Solutions: Product Portfolio
Table 35:    Cobham Advanced Electronic Solutions: New Product Development
Table 36:    EaglePicher Technologies: Product Portfolio
Table 37:    EaglePicher Technologies: Agreements and Contracts
Table 38:    GS Yuasa Lithium Power: Product Portfolio
Table 39:    GS Yuasa Lithium Power: Business Expansion and Testing
Table 40:    Northrop Grumman Corporation: Product Portfolio
Table 41:    Northrop Grumman: Contract
Table 42:    Sierra Nevada Corporation: Product Portfolio
Table 43:    Rocket Lab: Product Portfolio
Table 44:    Rocket Lab: Funding, Acquisitions, Partnerships, and Contracts
Table 45:    Spectrolab: Product Portfolio
Table 46:    Spectrolab: Partnerships and Contracts
Table 47:    Teledyne Technologies Product Portfolio
Table 48:    Teledyne Technologies Incorporated: New Product Development
Table 49:    Berlin Space Technologies GmbH: Product Portfolio
Table 50:    Blue Canyon Technologies LLC: Product Portfolio
Table 51:    Dhruva Space Private Limited: Product Portfolio
Table 52:    Dhruva Space Private Limited: Agreement
Table 53:    DHV Technology: Product Portfolio
Table 54:    DHV Technology: Contracts
Table 55:    EnduroSat: Product Portfolio
Table 56:    EnduroSat: Agreements
Table 57:    G.A.U.S.S. Srl: Product Portfolio
Table 58:    G.A.U.S.S. Srl: New Product Development
Table 59:    GomSpace: Product Portfolio
Table 60:    GomSpace: Contracts
Table 61:    ISISPACEGROUP: Product Portfolio
Table 62:    ISISPACE GROUP: Partnerships, Collaborations, Agreements, Investments, and Contracts
Table 63:    JinkoSolar Holding Co., Ltd.: New Product Development
Table 64:    mPower Technology, Inc.: Product Portfolio
Table 65:    mPower Technology, Inc: New Product Development
Table 66:    mPower Technology, Inc: Partnerships and Contracts
Table 67:    NanoAvionics: Product Portfolio
Table 68:    Redwire Corporation: Product Portfolio
Table 69:    Redwire Corporation: Partnerships, Collaborations, Agreements, Investments, and Contracts
Table 70:    Solestial: Product Portfolio
Table 71:    Skylabs: Product Portfolio
Table 72:    SpaceTech GmbH Immenstaad (STI): Product Portfolio
Table 73:    SpaceTech GmbH Immenstaad (STI): New Product Development
Table 74:    SpaceTech GmbH Immenstaad (STI): Partnerships, Collaborations, Agreements, Investments, and Contracts

Figure 1:    Global Space Power Supply Market, Volume (Number of Units), 2021-2032
Figure 2:    Global Space Power Supply Market, Value ($Million), 2021-2032
Figure 3:    Global Space Power Supply Market (by Application), Volume (Number of Units), 2021 and 2032
Figure 4:    Global Space Power Supply Market (by Application), Value ($Million), 2021 and 2032
Figure 5:    Global Space Power Market (by Product), Volume (Number of Units), 2021 and 2032
Figure 6:    Global Space Power Market (by Product), $Million, 2021 and 2032
Figure 7:    Global Space Power Supply Market (by Region), Value ($Million), 2032
Figure 8:    Space Power Supply Market Coverage
Figure 9:    Supply Chain Analysis of Space Power Supply Market
Figure 10:    Global Space Power Supply Market, Business Dynamics
Figure 11:    Share of Key Business Strategies and Developments, January 2019- February 2022
Figure 12:    Share of Key Business Strategies and Developments, January 2019-February 2022
Figure 13:    Share of Key Business Strategies and Developments, January 2019- February 2022
Figure 14:    Space Power Supply Market (by Application)
Figure 15:    Space Power Supply Market (by Product)
Figure 16:    Global Space Power Supply Market: Market Share Analysis, 2021
Figure 17:    Research Methodology
Figure 18:    Top-Down and Bottom-Up Approach
Figure 19:    Space Power Supply Market Influencing Factors
Figure 20:    Assumptions and Limitations

 
 

Market Report Coverage

Space Power Supply Market

Base Year

2021

Market Size in 2021

$2,624.6 Million

Forecast Period

2022-2032

Value Projection and Estimation by 2032

$5,174.6 Million

CAGR During Forecast Period

1.66%

Number of Tables

 

Number of Pages

167

Number of Figures

 

 

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

The top segment players leading the market include established players providing space power supply solutions and constitute 70% of the presence in the market. Other players include start-up entities, which account for approximately 30% of the presence in the market.

Competitive Synopsis

Space Power Supply Market

Some of the prominent established names in this market are:

Company Type 1: Solar Cell and Solar Array Manufacturers

•    AAC Clyde Space
•    Airbus S.A.S.
•    AZUR SPACE Solar Power GmbH
•    Northrop Grumman Corporation
•    Sierra Nevada Corporation
•    Rocket Lab
•    mPower Technology, Inc.

Company Type 2: Primary and Secondary Manufacturers

•   EaglePicher Technologies
•   GS Yuasa Lithium Power
•   GomSpace

Company Type 3: Others

•    Skylabs
•    NanoAvionics
•    ISISPACE GROUP 
•    Teledyne Technologies Incorporated

Companies that are not a part of the previously-mentioned pool have been well represented across different sections of the report (wherever applicable).

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the different types of space power supply products available for deployment in the industries and their potential globally. Moreover, the study provides the reader with a detailed understanding of the different space power supply products based on applications (launch vehicles, satellites, and deep space exploration) and products (solar panels, power management devices, batteries, and power converters).

Growth/Marketing Strategy: The global space power supply market has seen major development by key players operating in the market, such as business expansions, contracts, partnerships, collaborations, and joint ventures. The favored strategy for the companies has been inorganic strategies such as contracts and partnerships to strengthen their position in the space power supply market. For instance, in February 2022, Aerojet Rocketdyne, in collaboration with Teledyne Energy Systems Inc. to develop the MMRTG energy systems, would power upcoming NASA missions to the moons of Saturn and Neptune.

Competitive Strategy: Key players in the global space power supply market analyzed and profiled in the study involve space power supply product manufacturers that provide solar cells/arrays, batteries, and power modules. Moreover, a detailed competitive benchmarking of the players operating in the global space power supply market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as contracts, partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Industry & Technology Overview

Global Space Power Supply Industry Overview

The global space power supply market is estimated to reach $5,174.6 million in 2032 from $2,624.6 million in 2021, at a growth rate of 1.66% during the forecast period 2022-2032. The growth in the space power supply market is majorly attributed to the growing number of satellite launches and the development of reusable launch systems.

Market Lifecycle Stage

The space industry has seen several technological breakthroughs since the launch of the first artificial satellite, Sputnik, in 1957. There are a variety of space-based applications for which various space exploration missions are planned, and the success of each space mission is dependent on the technology onboard the spacecraft.

When a spacecraft is out in space, the first concern is to select the source of energy to run the mission objectives. The power subsystems used for spacecraft in space must be strong to withstand the harsh environments of radiation and thermal fluctuations. Hence, the need for a strong and reliable power subsystem has always been present in the market.

Several research and development projects are underway to produce advanced space power supply solutions, which are expected to increase with the upcoming mega-constellations as well as with the rising interest in deep-space exploration. Various power subsystems that are currently used are solar cells, primary and non-rechargeable batteries, thermoelectric generators, and fuel cells. Space is a huge market with unlimited opportunities, and power systems are required across all platforms to ensure proper functionality. As a result, the market for space power supply is well-established.

Global Space Power Supply Market, $Million, 2021-2032

Impact

•   With technical breakthroughs, the size of satellites being built for mega-constellations is diminishing. CubeSats and nanosats are becoming the satellites of the future. These CubeSats and nanosats are made up of complex subsystems to perform advanced applications with high power consumption demand. This has, in turn, placed a high demand for mass production of space power supply solutions that are capable of providing maximum energy while reducing weight and size.
•     Furthermore, rising interest among space agencies in conducting long-term deep space missions has resulted in the need for specialized power systems that can support complex missions for significantly longer time periods.

Market Segmentation:

•    Segmentation 1: by Application
      o    Launch Vehicles
      o    Satellites
      o    Deep Space Exploration
      
Based on applications, the global space power supply market is expected to be dominated by the satellites segment. The major factor contributing to this growth is the launch of small satellite mega-constellations by companies such as SpaceX and OneWeb.

•    Segmentation 2: by Product
     o    Solar Panel
     o    Power Management Devices
     o    Batteries
     o    Power Converters

Based on products, the global space power supply market is expected to be dominated by the solar panel segment. One of the major factors contributing to this growth is the growing demand for solar arrays for several satellite missions.

•    Segmentation 3: by Region
      o    North America - U.S. and Canada, 
      o    Europe - France, Germany, Russia, U.K, and Rest-of-Europe
      o    Asia-Pacific - China, Japan, India, and Rest-of-Asia-Pacific
      o    Rest-of-the-World

In the global space power supply market, North America generated the highest revenue of $1,516.3 million in 2022, which is attributed to the high presence of the key companies highly engaged in developing and providing space power supply solutions in the region.

Recent Developments in Global Space Power Supply Market

•    In May 2020, EaglePicher Technologies was selected by NASA to supply a variety of batteries for its Perseverance mission. During its launch, Atlas V used ten silver-zinc batteries. Atlas V's main power system, pryo system, and flight termination system were powered by these batteries. The rover’s main power system was powered by two rechargeable lithium-ion batteries.    
•   In May 2021, NASA chose Honeybee Robotics and mPower Technology to design and develop a vertically deployable solar array for the Lunar Array Mast and Power System (LAMPS) project.    
•   In January 2021, NASA awarded a contract to Boeing’s Spectrolab to provide six more solar arrays for International Space Station (ISS). The new solar array would provide a 20% to 30% increase in power.
•     In January 2022, the U.K.-based Space Forge awarded AAC Clyde Space a $0.4 million contract to provide space products to be used by a demonstration spacecraft. This spacecraft is designed to perform multiple trips to space and to utilize the space environment for production and scientific experimentation.

Demand - Drivers, Challenges, and Opportunities

Following are the drivers for the space power supply market:

•    Increasing Development of LEO Satellites and Reusable Launch Vehicles
•    Evolving Mission Requirements Leading to Demand for Enhanced Space Power Requirements

Following are the challenges for the space power supply market:

•    Scalability of Space Power Solutions to Address the Increasing Serial Production of Small Satellites
•    Lack of Customized Space Power Solutions

Following are the opportunities for the space power supply market:

•    Entrance of Non-Space Power Solutions Provider into the Space Industry
•    Increasing Demand for Mass Production of Space Power Solutions

Analyst Thoughts

According to Arun Sampathkumar, Principal Analyst, BIS Research, "With close to 3,000 satellites to be launched every year, the demand for satellite subsystems and components is rising rapidly. The satellite manufacturing domain is migrating to an automotive-style serial production format. From a power perspective, the demand for efficient and lighter power subsystems and components is growing, especially in the micro-satellite segment. Non-space battery and associated power electronics suppliers will have new opportunities within the space industry owing to the satellite manufacturers expanding their supplier base due to the need for enhanced production capacity to enable their serial production aspirations.”

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