Panoramica di mercato

The global space power supply market is projected to reach $5,175 milioni di euro 2032, growing at a rate of 1.66% during the forecast period of 2022-2032. This growth can be attributed to the increasing number of satellite launches and the development of reusable launch systems.

Satellites have seen significant growth since the launch of Sputnik into space in 1957. They are now being used for various purposes such as Earth observation, communication, navigation, weather forecasting, space telescopes, space science, and human space exploration activities. Advancements in technology have made satellites smaller, more sophisticated, and less expensive. The demand for satellites in low Earth orbit (LEO) is also increasing due to their ability to complement the 5G terrestrial network by providing higher bandwidth and lower latency. These advancements have driven the need for efficient and reliable space power supply systems that can operate in harsh conditions for the duration of the mission.

The space industry has witnessed numerous technological breakthroughs since the launch of Sputnik. The success of each space mission relies heavily on onboard technology, including power subsystems. These subsystems must be strong enough to withstand radiation and thermal fluctuations in space.

Research and development projects are underway to develop advanced space power supply solutions, which are expected to increase with the emergence of mega-constellations and the growing interest in deep-space exploration. Current power subsystems used in space include solar cells, primary and non-rechargeable batteries, thermoelectric generators, and fuel cells. The demand for power systems is present across all space platforms, making the space power supply market well-established.

The trend towards smaller satellites, such as CubeSats and nanosats, has led to a demand for mass-produced space power supply solutions that can provide maximum energy while reducing weight and size. Additionally, the interest in long-term deep-space missions has created a need for specialized power systems capable of supporting complex missions for extended periods.

The drivers for the space power supply market include the increasing development of LEO satellites and reusable launch vehicles, as well as the evolving mission requirements that demand enhanced space power capabilities. However, there are challenges such as scalability issues in addressing the production of small satellites and the lack of customized space power solutions. On the other hand, opportunities in this market include the entrance of non-space power solution providers into the space industry and the increasing demand for mass production of space power solutions.

Segmentazione del mercato

The market is segmented based on various factors, including application, product, and region.

Segmentation by Application
Launch Vehicles
Satellites
Deep Space Exploration

Segmentation by Product
Solar Panel
Power Management Devices
Batteries
Power Converters

Segmentation by Region
North America – U.S. and Canada,
Europe – Francia, Germania, Russia, U.K, and Rest-of-Europe
Asia-Pacific – Cina, Giappone, India, and Rest-of-Asia-Pacific
Rest-of-the-World

The satellites segment is projected to dominate the global space power supply market based on applications. This growth is primarily driven by the launch of small satellite mega-constellations by companies like SpaceX and OneWeb. The satellite application segment is expected to generate significant revenue for the space power supply market, followed by launch vehicles and deep space probes. In 2021, the revenue generated from space power supply for the satellite segment was $1,755 million, and it is anticipated to grow at a CAGR of 0.88% during the forecast period of 2022-2032, reaching $3,594 billion by 2032.

In terms of products, the solar panel segment is expected to dominate the global space power supply market. This growth is attributed to the increasing demand for solar arrays in various satellite missions. The solar panel segment is projected to account for a 33% share of the market in 2032. Its market size was $945 milioni di euro 2021 and is estimated to reach $1,698 milioni di 2032, exhibiting a CAGR of 0.28% during the forecast period of 2022-2032.

North America generated the highest revenue of $1,516 milioni di euro 2022 in the global space power supply market. This can be attributed to the strong presence of key companies engaged in the development and provision of space power supply solutions in the region. North America is expected to maintain its dominance in the global market throughout the forecast period. The growth in this region is supported by the continual technological advancements by key solution providers in the space power supply industry. Additionally, the presence of collaborative programs between companies and space agencies further contributes to the market’s expansion.

Panorama competitivo

The competitive landscape of the space power supply market is characterized by a range of organic and inorganic strategies implemented by key players to enhance their market share. These strategies encompass product innovations, contractual agreements, partnerships, acquisitions, and business expansions, among others. Major companies within the industry have formed strategic alliances with various government space agencies such as NASA, European Space Agency (ESA), and Indian Space Research Organisation (ISRO). The launch of new products and securing contracts are pivotal strategies adopted by these companies to expand their global market presence, generate revenue, and attract new customers.

The selection of profiled companies was based on input gathered from primary experts and an analysis of their company coverage, product portfolio, and market penetration.

Leading the market are established players that provide comprehensive space power supply solutions, commanding a 70% presence in the market. Additionally, there are start-up entities constituting approximately 30% of the market presence.

Key companies profiled in this report include AAC Clyde Space, Airbus S.A.S., AZUR SPACE Solar Power GmbH, Northrop Grumman Corporation, Sierra Nevada Corporation, Rocket Lab, mPower Technology, Inc., EaglePicher Technologies, GS Yuasa Lithium Power, GomSpace, Skylabs, NanoAvionics, ISISPACE GROUP, Teledyne Technologies Incorporated.

Recent Industry Developments

In May 2020, NASA selected EaglePicher Technologies as the supplier for a range of batteries to be used in its Perseverance mission. Ten silver-zinc batteries were employed by Atlas V during its launch to power the main power system, pyro system, and flight termination system. The rover’s main power system was powered by two rechargeable lithium-ion batteries.

In May 2021, Honeybee Robotics and mPower Technology were chosen by NASA to design and develop a vertically deployable solar array for the Lunar Array Mast and Power System (LAMPS) project.

In January 2021, NASA awarded Boeing’s Spectrolab a contract to provide an additional six solar arrays for the International Space Station (ISS). These new solar arrays would offer a 20% A 30% increase in power.

In January 2022, Space Forge, based in the U.K., granted AAC Clyde Space a contract worth $0.4 million to supply space products for a demonstration spacecraft. This spacecraft is specifically designed for multiple trips to space and aims to utilize the space environment for production and scientific experimentation.

Key Questions Answered

What are the various processes utilized to strengthen components for materials employed in space power supplies?

What are the emerging trends in this market and how is it projected to evolve in the coming years?

What are the main drivers and challenges faced by companies operating in the space power supply market?

How is the market anticipated to grow during the forecast period of 2022-2032?

What opportunities exist for companies to expand their presence in the space power supply market?

Which region is expected to dominate the space power supply market by 2032?

What key developmental strategies are implemented by major players to maintain competitiveness in this market?

What is the current and future revenue outlook for this market?