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    Space Power Supply Market Report

    Space Power Supply Market Report
    Report code - SRAD336 Published On : Jun,2021 No. of Pages: 164
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    Space Power Supply Market Size, Share, Trend, Forecast, & Industry Analysis: 2021-2026 See more...

    Impact of COVID-19 on Space Power Supply Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Space Power Supply Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Highlights

    The power supply system covers all aspects: generation, storage, conditioning, distribution, and conversion for space applications. Space missions can last from 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. Furthermore, the industry's demand for power supply products is largely impacted by new technological advancements, satellite launches, regulations (EWR 127-1, MIL-STD), etc. Major players have been hammering hard for the advancements in the existing products for meeting the changing market requirements.

    SpaceX, Blue Origin, OneWeb, and Virgin Galactic are the key investment recipients in 2019, collectively embraced 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. The global space power supply market logged an impressive growth of more than 100% (year-over-year) to reach US$ 2.8 billion in 2020.

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    Segments' Analysis

    Space Power Supply Market Share by Application Type

    Stratview Research has firstly segmented the space power supply market based on the application type as satellites, launch vehicles, and space exploration. Increasing investments in space start-ups are driving companies to launch several small satellites in the 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.

    Space-Power-Supply-Market-By-Region

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    Space Power Supply Market Share by 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 convertor modules being one of the key components. The batteries segment is further classified into battery type as primary, secondary, and reserve battery as well as into material type as nickel, lithium, silver-zinc, and others. Lithium-ion batteries are likely to remain the dominant and the fastest-growing material type in the years to come.

    Regional Analysis

    In terms of regions, North America is likely to maintain its huge dominance in the market in the foreseen 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.

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    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, having a conspicuous share in the global market.

    Key Players

    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.

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s space power supply market realities and future market possibilities for the forecast period 2021 to 2026. The report estimates the current and future demand for the space power supply market at the global, regional, as well as country-level. The report also studies all the major space industry stakeholders across the globe. The vital data/information provided in the report can play a crucial role for the market participants and investors in identifying low-hanging fruits available in the market and formulating growth strategies.  

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. About 15 detailed primary interviews with the market players across the value chain in all major regions and industry experts have been executed to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market forecast analysis
    • Market segment forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

    The Space Power Supply Market is segmented into the following categories. 

    Space Power Supply Market Size, Share & Forecast by Product Type

    • Solar Panels & Arrays (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Batteries (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Power Modules (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Thermoelectric Generators (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Space Power Supply Market Size, Share & Forecast by Application Type

    • Launch Vehicles (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Satellites (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Space Exploration (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Space Power Supply Market Size, Share & Forecast by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: ESA, Russia, and RoE)
    • Asia-Pacific (Country Analysis: China, Japan, India, and RoAP)
    • Rest of the World

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, and regional presence.

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The global space power supply market logged an impressive growth of more than 100% (year-over-year) to reach US$ 2.8 billion in 2020.

    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 are among the key players in the space power supply market.

    North America is expected to remain dominant in the space power supply market during the forecast period.

    Asia-pacific is expected to remain the second largest space power supply market during the forecast period.

    Lithium-ion batteries are expected to remain dominant in the space power supply market in the coming years.

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