Space Based Solar Power Market Report

Market Insights

"The Space-based Solar Power’s market size was US$ 3.1 Billion in 2024 and is likely to grow at a decent CAGR of 7.9% in the long run to reach US$ 4.9 billion in 2030."

Market Dynamics

Introduction 

Space-based solar power systems are specialised solar energy systems that provide energy straight from outer space by transforming solar power into electricity via photovoltaic cells in geostationary orbit around Earth. The power is then transmitted wirelessly in the form of microwaves at 2.45 GHz to dedicated receiver stations on Earth, called ‘rectennas’, which convert the energy back into electricity and feeding it to the local power grid.  It is being recognised as a long-term clean energy option as the world's energy needs increase and sustainability.  Even though this sector is still growing, significant interest and investment are being driven by strategic alliances, improvements in wireless energy transmission, and government assistance in sustainability. 

Drivers:  

• Growing Demand for Energy Consumption: Population expansion, industrialisation, and an increasing dependence on electronic gadgets have all driven the world's energy consumption. In comparison to traditional energy sources, SBSP can provide electricity continuously and reliably, regardless of the weather or the day-night cycle. It can provide energy to locations without conventional power infrastructure, industrial centers, and heavily populated cities. Its adaptability is further increased by its capacity to wirelessly transfer energy to many areas on Earth.  
   

Challenges and Restraints:  

• Limited Availability of Orbital Slots: The limited number of orbital locations available within the Geostationary Earth Orbit (GEO) is one of the main obstacles to the deployment of Space-Based Solar Power (SBSP) systems.  GEO, which is situated around 36,000 kilometres above the surface of the Earth, allows satellites to stay stationary in relation to the rotation of the globe.  Because of its fixed alignment, GEO is very appealing for applications that need constant connection, such GPS services, telecommunications, and weather monitoring. It is especially helpful for SBSP satellites, which are responsible for sending energy to Earth by laser or microwave beams. GEO is separated into around 1,800 distinct orbital slots, each of which is about 30 kilometres in length and has a total circumference of about 265,000 kilometres. Up to 2 satellites can be positioned in each slot using current satellite technology, however, this capacity is still naturally constrained. 
   
• High Costs for GEO and LEO Deployment: The high expenses of sending satellites into Geostationary Earth Orbit (GEO) and Low Earth Orbit (LEO) are a significant barrier to the widespread use of Space-Based Solar Power (SBSP). The economic viability of SBSP initiatives is greatly impacted by these launch costs, especially when scaled up. GEO is perfect for continuous solar energy gathering and transmission since it can stay in a constant location with respect to the Earth's surface.  However, because of the great altitude and technological intricacy required, attaining and functioning in this orbit requires a significant financial expenditure.  Although LEO offers a more economical alternative for deployment, there are drawbacks, including less exposure to sunlight, shorter satellite lifespans, and the requirement for bigger constellations to provide continuous coverage.

Opportunities:  

Government Support for Green Energy Initiatives:  

• Governments worldwide are promoting green energy ecosystems through funding, supportive legislation, and strategic partnerships. Although many programs in space exploration, renewable energy, and climate change are not specifically focused on SBSP, they align with its goals of clean, continuous, and sustainable energy. Such as The U.S. Department of Energy’s State Energy Program (SEP), which allows states to design and implement customized energy strategies; by using their unique resources and priorities, states can help manage long-term energy demand and improve efficiency, offering opportunities for Space-based Solar Power Industry initiatives. 
   

Recent Product Development:  

• In July 2023, the European Space Agency (ESA) selected Thales Alenia Space to conduct a feasibility study for the SOLARIS initiative. This project aims to explore the potential of generating clean energy from solar power plants in space to help meet energy demands on Earth.

Segment Analysis

By Beam type 

“The Microwave Power Transmission segment is anticipated to generate more growth in the future due to its flexibility and Versatility.” 

Based on the beam type, the space-based solar power market has been segmented into laser beam power transmission, and microwave power transmission beam type. The microwave power transmission beam type segment in space-based solar power is growing as they are suitable for a wide range of applications, from powering remote communities to supporting large-scale industrial operations. 

 By End-Use Type 

“Government and Defense Segment dominates the Space-based Solar Power market, due to their corrosion resistant properties.” 

The market for space-based solar power (SBSP) is divided into two main segments depending on end users: commercial and government and defense. By 2030, the government & defense sector is anticipated to take the lead.  Significant government investments, strategic efforts, and growing partnerships between public agencies and important industry participants are the main drivers of this expansion. Demand is being driven by defense firms in particular because of their emphasis on operational resilience and energy security.  SBSP is particularly useful for essential missions in distant or resource-constrained locations because it provides a consistent and dependable power supply.  Government and defense are positioned to be early adopters and significant stakeholders in the development of SBSP technology due to these requirements. 

Regional Analysis 

“North America is expected to be the dominant and fastest-growing region over the forecasted period because of its significant advances in R&D activities.” 

The market for Space-based Solar Power’s is dominated by North America. Mainly because of their vast applications for corrosion protection, erosion resistance, and thermal insulation in equipment including pipelines, valves, pumps, and offshore structures, the region's robust oil and gas industry is a major driver.  This demand is further fueled by ongoing exploration and production efforts.  The regional market is led by the United States, but Canada is also growing because to the growing usage of Space-based Solar Power systems in sectors like automotive and aerospace. 

Key players

Most of the major players compete in some of the governing factors, including price, service offerings, regional presence, etc. The following are the key players in the Space-based Solar Power’s market. Some of the major players provide a complete range of services. 

Here is the list of the Top Players (Based on Dominance) 

• Airbus (Netherlands) 
• Northrop Gruman  
• OHB SE 
• Boeing  
• EMROD  
• Thales Alenia Space 
• Airborne 
• AZUR SPACE Solar Power GmbH 
• Fralock LLC 
• Japan Aerospace Exploration Agency 

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

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Report Features

This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for 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 trend and forecast analysis. 
• Market segment trend and forecast. 
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc. 
• COVID-19 impact and its recovery curve. 
• Attractive market segments and associated growth opportunities. 
• Emerging trends.  
• Strategic growth opportunities for the existing and new players. 
• Key success factors. 

The Space-based Solar Power market is segmented into the following categories.   

Space-based Solar Power’s Market, by Beam type 

• Microwave power transmission Space-based Solar Power market (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World) 
• Laser beam power transmission Space-based Solar Power (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World) 

Space-based Solar Power Market, by Application type 

• Terrestrial type (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World) 
• Space Type (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World) 

Space-based Solar Power Market, by End-Use Type 

• Government and Defense (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World) 
• Commercial (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World) 
• Other End-Users (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World) 

Space-based Solar Power’s Market, by Region 

• North America (Country Analysis: The USA) 
• Europe (Country Analysis: The UK and Rest of Europe) 
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific) 
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s Space-based Solar Power’s market realities and future market possibilities for the forecast period.  
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. 
• The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruits available in the market and formulating growth strategies to expedite their growth process. 
• 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.  
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

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 three players) 
• SWOT analysis of key players (up to three players)  

Competitive Benchmarking 

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances 

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