Global and Regional Space Power Market Analysis and Forecast Report 2021-2032-Increasing Demand for Mass Production of Space Power Solutions-ResearchAndMarkets.com

Dublin-(Business wire)-“Space Power Market-Global and Regional Analysis: Focusing on Applications and Products-Analysis and Forecast, 2022-2032” report added to ResearchAndMarkets.com Recruitment.

The global space power market is estimated to grow at 1.66% during the projected period from 2022 to 2032, from $ 2,624.6 million in 2021 to $ 5,174.6 million in 2032.

The growth of the space power market is mainly due to the increase in the number of satellite launches and the development of reusable launch systems.

Market life cycle stage

The space industry has made several technological advances since the launch of the first artificial satellite, Sputnik, in 1957. There are various space-based applications where various space exploration missions are planned, and the success of each space mission is the technology onboard the spacecraft.

When a spacecraft is out in space, the first concern is to select an energy source to carry out the mission’s objectives. The power subsystems used in spacecraft must be strong to withstand the harsh environment of radiation and thermal fluctuations. Therefore, there is always a need for a powerful and reliable power subsystem on the market.

Several R & D projects are underway to create advanced space power solutions, which are expected to increase with increasing interest in future mega-constellation and deep space exploration. The various power subsystems currently in use are solar cells, primary and non-rechargeable batteries, thermoelectric generators, and fuel cells.

Space is a huge market with endless opportunities, and power systems are needed on all platforms to ensure proper functioning. As a result, the space power market is well established.

Impact

Due to technological advances, the size of satellites built for mega constellations is decreasing. CubeSats and nanosats are becoming satellites of the future. These CubeSat and nanosat are made up of complex subsystems to run advanced applications with high power consumption demands. Therefore, there is a strong demand for mass production of space power solutions that can provide maximum energy while reducing weight and size.

In addition, the growing interest among space agencies in conducting long-term deep space missions has led to the need for specialized power systems that can support complex missions over very long periods of time.

Market segmentation

Applications (rockets, satellites, deep space exploration)

Based on the application, the global space power market is expected to be dominated by the satellite segment. A major contributor to this growth is the launch of small satellite mega constellations by companies such as SpaceX and OneWeb.

Products (solar panels, power management devices, batteries, power converters)

Based on the product, the global space power market is expected to be dominated by the solar panel segment. One of the main drivers of this growth is the growing demand for solar arrays in some satellite missions.

In the global space power market, North America generated the highest revenue of $ 1,516.3 million in 2022. This is due to the presence of leading companies in the region who are enthusiastic about developing and delivering space power solutions.

Recent trends in the global space power market

  • In May 2020, EaglePicher Technologies was selected by NASA to supply a variety of batteries to NASA’s Perseverance mission. On sale, Atlas V used 10 silver-zinc batteries. Atlas V’s main power system, prio system, and flight termination system were powered by these batteries. 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 signed a contract with Boeing’s Spectrolab to provide the International Space Station (ISS) with six more solar arrays. The new solar array will increase power by 20% to 30%.

  • In January 2022, UK-based Space Forge signed a $ 400,000 contract with AAC Clyde Space to provide space products for use in demonstration spacecraft. This spacecraft is designed to perform multiple trips to space and utilize the space environment for production and scientific experiments.

Overview of major market players and competition

The market-leading top segment players include established players who provide space power solutions and make up 70% of the market presence. Other players include startup entities that make up about 30% of their market presence.

Some of the well-known established names in this market are:

  • AAC Clyde Space

  • Airbus SAS

  • AZURSPACE Solar Power GmbH

  • Cobham Advanced Electronic Solutions

  • EaglePicher Technologies

  • GS Yuasa Lithium Power

  • Northrop Grumman Corporation

  • Sierra Nevada Corporation

  • Rocket Lab

  • Spectrolab

  • Teledyne Technologies Incorporated

  • Berlin Space Technologies GmbH

  • Blue Canyon Technologies LLC

  • Dolva Space Private Limited

  • DHV technology

  • EnduroSat

  • GAUSS Srl

  • GomSpace

  • ISISPACE GROUP

  • JinkoSolar Holding Co., Ltd.

  • mPower Technology, Inc.

  • Nano Avionics

  • Red Wire Corporation

  • Solestial

  • Skylabs

  • SpaceTech GmbH Immenstaad (STI)

Main topics to cover:

1 market

1.1 Industry outlook

1.1.1 Space Power Market: Overview

1.1.1.1 Evolving power requirements for LEO-based and deep space missions

1.1.1.2 Factors Affecting Power Budgets for Small and All Electric Satellites

1.1.2 Supply chain analysis

1.2 Business Dynamics

1.2.1 Business driver

1.2.1.1 Increased development of LEO satellites and reusable rockets

1.2.1.2 Evolving mission requirements leading to demand for expanded space power requirements

1.2.2 Business challenges

1.2.2.1 Scalability of Space Power Solutions to Address Increasing Continuous Production of Small Satellites

1.2.2.2 Lack of customized space power solution

1.2.3 Business Strategy

1.2.3.1 Business Strategy

1.2.3.2 Corporate Strategy

1.2.4 Business Opportunity

1.2.4.1 Entering the space industry of non-space power solution providers

1.2.4.2 Increased demand for mass production of space power solutions

2 application

2.1 Global space power market (by application)

2.1.1 Market Overview

2.1.1.1 Space Power Market Demand Analysis (By Application)

2.1.2 Rocket

2.1.2.1 Small and medium rocket

2.1.2.2 Heavy and Super Heavy Lift Rockets

2.1.3 satellite

2.1.3.1 Small satellite (0-500 Kg)

2.1.3.2 Medium satellite (501-1,000 Kg)

2.1.3.3 Large satellite (1,000 kg or more)

2.1.4 Deep space exploration

2.1.4.1 Lander

2.1.4.2 Rover

2.1.4.3 Orbiter

3 products

3.1 Global space power market (by product)

3.1.1 Market Overview

3.1.1.1 Space Power Market Demand Analysis (By Product)

3.1.2 Solar cells

3.1.2.1 Solar panels and arrays

3.1.3 Battery

3.1.3.1 Primary battery

3.1.3.2 Rechargeable battery

3.1.4 Power management device

3.1.5 power converter

4 regions

4.1 Global space power market (by region)

5 Markets-Market Share Analysis and Company Profile

5.1 Market Share Analysis

5.2 Company profile

5.2.1 Company profile

5.2.1.1 Role in the global space power market

5.2.1.2 Product Portfolio

5.2.2 Corporate Strategy

5.2.2.1 Partnerships and contracts

5.2.3 Analyst view

For more information on this report, please visit https://www.researchandmarkets.com/r/lddwts.

Leave a Comment