Space Power Supply Market is Forecasted to Reach US$ 155.6 Million in 2034,Says Stratview Research

The global space power supply market size was valued at USD 2.8 billion in 2021, and is projected to reach USD 5 billion by 2026, witnessing a market growth CAGR of 7.5% from 2021 to 2026, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the space power supply market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Market Statistics

Market Size in 2021: USD 2.8 billion

Market Size in 2026: USD 5 billion

Leading Application Type: Satellite

Leading Product Type: Power Modules

Leading Region: North America

Forecast Period: 2024-2034

Trend Period: 2019-2023

Base Year: 2024

Number of Segments Covered: 3

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20 

Segment Insights & Market Share Analysis of the Aircraft Fuel Valves Market:

The global space power supply market is segmented based on application type, product type, and region.

Based on Application type –

• Stratview Research has first segmented the space power supply market based on application types such as satellites, launch vehicles, and space exploration. Increasing investments in space start-ups are driving companies to launch several small satellites in LEO orbit.
• More than 1,200 satellites were launched in 2020, of which more than 1,100 were small satellites. SpaceX’s constellation “Starlink” deployed hundreds of communication satellites, which led the market to register an extraordinary growth in the year 2020.
• Furthermore, there are thousands of more such satellites already in the pipeline, ensuring a bright future for the industry in the coming years.

Based on the Product type -

• The space power supply market is segmented as solar panels & arrays, batteries, power modules, thermoelectric generators, and others based on the product type. Power modules dominated the market with DC converter modules being one of the key components. 
• The battery segment is further classified into battery types as primary, secondary, and reserve batteries as well as into material type as nickel, lithium, silver-zinc, and others. Lithium-ion batteries are likely to remain the dominant and fastest-growing material type in the years to come.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

"North America is likely to maintain its huge dominance in the market in the foreseeable future"  

• In terms of regions, North America is likely to maintain its huge dominance in the market in the foreseeable future.
• The USA held a huge dominance, alone capturing more than two-thirds share of the total market. The region is likely to offer the highest growth opportunities during the forecast period as well with increasing investments of start-ups and aggressive launch activities by SpaceX. 
• Asia-Pacific to remain the second-largest region of the market during the forecast period. The region’s space budget is almost half of North America’s space budget. China and India are other key countries, have a conspicuous share in the global market.

Space Power Supply Market Drivers:

Some of the key drivers listed in the report are given below.

• The power supply system covers all aspects: generation, storage, conditioning, distribution, and conversion for space applications. Space missions can last from a few minutes to decades; therefore, finding the optimum primary and secondary sources with an architecture that will make the best use remains paramount.
• The space industry including space power supply is highly regulated where all parts require a rigorous quality check and legal documentation before their use in a spacecraft.
• SpaceX, Blue Origin, OneWeb, and Virgin Galactic are the key investment recipients in 2019, collectively embracing about US$ 3.9 billion, translating into 68% of the total investments. Despite the lingering COVID-19 pandemic, the space industry witnessed robust growth in the year 2020, making it a record year for the industry.

Competitive Landscape: Top Companies in the Aircraft Fuel Valves Market:

The supply chain of this market comprises raw material suppliers, space power supply product manufacturers, space agencies, research institutes, and satellite manufacturers.

The key space power supply manufacturers are:

• Airborne
• Airbus SE
• AZUR SPACE Solar Power GmbH
• DHV Technology
• EaglePicher Technologies
• GS Yuasa Corporation
• Northrup Grumman Corporation
• Saft Groupe S.A.
• Sierra Nevada Corporation
• SolAero Technologies, Inc.
• Teledyne Technologies Incorporated.

Note: The above list does not necessarily include all the top players in the market.

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the market, answering critical questions like

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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About us –

Stratview Research is a global market research firm that highly specializes in aerospace & defence, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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