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Home » Aerospace and Defense » Space Power Supply Market Size, Share Report

Space Power Supply Market By Power Source (Solar Power, Nuclear Power, Fuel Cells, Battery Systems, Thermoelectric Generators (RTGs)); By Application (Satellites (Communication, Earth Observation, Navigation), Space Exploration Missions, Space Stations, Space Vehicles (Manned and Unmanned), Rovers and Landers); By Platform (Low Earth Orbit (LEO) Satellites, Medium Earth Orbit (MEO) Satellites, Geostationary Earth Orbit (GEO) Satellites, Deep Space Missions, Space Stations (ISS, Lunar Gateway)); By Component (Solar Arrays, Batteries, Power Conditioning Units, Thermoelectric Converters, Fuel Cells); By Geography, Segment revenue estimation, Forecast, 2024–2032.

Published On: OCT-2024   |   Base Year: 2022   |   No Of Pages: 150   |   Historical Data: 2017-2021   |   Formats: PDF   |   Report ID: 48128376

The space power supply market was worth USD 3.1 billion in 2023 and will be worth USD 5.13 billion by 2030, growing at a CAGR of 6.5% during the forecast period.

 

The main driver in the Space Power Supply market growth is the increased usage of satellites and space based operations common for commercial and governmental entities. With global satellite launches expected to surpass 1,700 annually by 2030, there is an increasing need for reliable and efficient power supplies to sustain satellite operations and deep-space missions. Cult and power systems, for instance, solar arrays and nuclear systems, are very important in communication satellites and scientific apparatuses besides space exploration cars. Space power systems, such as solar arrays and nuclear-powered systems, are critical for powering communication satellites, scientific equipment, and space exploration vehicles. For instance, the Perseverance rover NASA, recently launched to Mars in 2021, employs more developed RTGs to generate power at night and when they cannot access sunlight. This aspect of advancing innovation and sustainability of space power technology pushes the market ahead as space-faring nations and space start-ups increase.

 

The Space Power Supply market is promising to grow because as the world’s space economy grows, the global space market is expected to increase from $500 billion in 2016 to $1 trillion by 2040. With the frequency of satellite launches, the discovery of new planets, development of space tourism and exploration, more requirements exist for power systems. For instance, where there are expectations of greater deployment of LEO satellite constellations, firms are looking for superior solar power solutions that can provide long life and efficiency in space settings. Recent developments include the miniaturization of power systems and the use of flexible solar arrays, which are lighter and more efficient. For instance, companies are now developing space-based solar power stations to beam energy back to Earth, an innovation that could reshape the market and create new opportunities for energy transfer from space. This evolving demand for more efficient and scalable space power solutions provides vast technological advancements and market growth opportunities.

 

Market Segmentation

By Power Source:

  • Solar Power

  • Nuclear Power

  • Fuel Cells

  • Battery Systems

  • Thermoelectric Generators (RTGs)

 

By Application:

  • Satellites (Communication, Earth Observation, Navigation)

  • Space Exploration Missions

  • Space Stations

  • Space Vehicles (Manned and Unmanned)

  • Rovers and Landers

 

By Platform:

  • Low Earth Orbit (LEO) Satellites

  • Medium Earth Orbit (MEO) Satellites

  • Geostationary Earth Orbit (GEO) Satellites

  • Deep Space Missions

  • Space Stations (ISS, Lunar Gateway)

 

By Component:

  • Solar Arrays

  • Batteries

  • Power Conditioning Units

  • Thermoelectric Converters

  • Fuel Cells

 

By Region

North America

  • US

  • Mexico

  • Canada

  • Rest of North America

 

Europe

  • Switzerland

  • Russia

  • France

  • Germany

  • U.K

  • Finland

  • Turkey

  • Netherlands

  • Belgium

  • Spain

  • Italy

  • Rest of Europe

 

Asia Pacific

  • India

  • China

  • South Korea

  • Japan

  • Singapore

  • Thailand

  • Indonesia

  • Malaysia

  • Philippines

  • Australia

  • Rest of Asia-Pacific

 

LAMEA

  • Brazil

  • Argentina

  • Uruguay

  • Saudi Arabia

  • Rest of LAMEA

 

North America dominates the Space Power Supply market, primarily driven by the United States' leadership in space exploration, satellite launches, and defense-related space initiatives. The U.S. government accounts for over 50% of global space spending through NASA and the Department of Defense. This investment supports the development of advanced space power systems, such as solar arrays and nuclear-powered generators, which are critical for missions to the Moon, Mars, and beyond. Recent developments include NASA's Artemis program, aimed at establishing a sustainable human presence on the Moon by 2024, and future Mars exploration missions, which rely on robust space power systems. Additionally, private companies like SpaceX are launching satellite constellations requiring advanced power solutions, further solidifying North America's dominance in the space power supply market. This strong governmental and commercial activity places North America at the forefront of technological innovation in space power systems.

 

Key Players

  • Northrop Grumman

  • Lockheed Martin Corporation

  • Airbus Defence and Space

  • Boeing

  • Ball Aerospace & Technologies

  • Maxar Technologies

  • Mitsubishi Electric Corporation

  • Thales Alenia Space

  • SpaceX

  • Sierra Nevada Corporation

Frequently Asked Question About This Report

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Table of Contents

1.    SPACE POWER SUPPLY MARKET – PRODUCTION VOLUME BY REGION, (2024 – 2030)
1.1. North America
1.2. Europe
1.3. Asia Pacific
1.4. Latin America
1.5. Middle East & Africa
2.    SPACE POWER SUPPLY MARKET – REVENUE ($MILLION), BY REGION, (2024 – 2030)
2.1. North America
2.2. Europe
2.3. Asia Pacific
2.4. Latin America
2.5. Middle East & Africa
3.    MARKET SHARE ANALYSIS – SPACE POWER SUPPLY MARKET
3.1. Top 20 Players with Product Mix, Revenue, and Sales Volume
3.2. Market Share, 2023
3.3. Market By Power Source of Space Power Supply and End Use Outlook Analysis
4.    HISTORIC TRENDS IN SPACE POWER SUPPLY MARKET
5.    EMERGING MARKET TRENDS
6.    NORTH AMERICA SPACE POWER SUPPLY MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS)
6.1. North America Space Power Supply Historical Market ($MILLION), (2017 – 2023)
6.2. North America Space Power Supply Market ($MILLION) and Forecasts (2024 – 2030)
6.3. North America Space Power Supply Market Type ($MILLION), and Forecasts (2024 – 2030), By Power Source
6.3.1. Solar Power
6.3.2. Nuclear Power
6.3.3. Fuel Cells
6.3.4. Battery Systems
6.3.5. Thermoelectric Generators (RTGs)
6.4. North America Space Power Supply Market Type ($MILLION), and Forecasts (2024 – 2030), By Platform
6.4.1. Low Earth Orbit (LEO) Satellites
6.4.2. Medium Earth Orbit (MEO) Satellites
6.4.3. Geostationary Earth Orbit (GEO) Satellites
6.4.4. Deep Space Missions
6.4.5. Space Stations (ISS, Lunar Gateway)
6.5. North America Space Power Supply Market Type ($MILLION), and Forecasts (2024 – 2030), By Component
6.5.1. Solar Arrays
6.5.2. Batteries
6.5.3. Power Conditioning Units
6.5.4. Thermoelectric Converters
6.5.5. Fuel Cells
6.6. North America Space Power Supply Market Type ($MILLION), and Forecasts (2024 – 2030), By Application
6.6.1. Satellites (Communication, Earth Observation, Navigation)
6.6.2. Space Exploration Missions
6.6.3. Space Stations
6.6.4. Space Vehicles (Manned and Unmanned)
6.6.5. Rovers and Landers
6.7. North America Space Power Supply Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography
6.7.1. USA
6.7.2. Canada
6.7.3. Rest of North America
7.    USA SPACE POWER SUPPLY MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS)
8.    EUROPE SPACE POWER SUPPLY MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS)
8.1. Europe Space Power Supply Historical Market ($MILLION), (2017 – 2023)
8.2. Europe Space Power Supply Market ($MILLION) and Forecasts (2024 – 2030)
8.3. Europe Space Power Supply Market Type ($MILLION), and Forecasts (2024 – 2030), By Power Source
8.4. Europe Space Power Supply Market Type ($MILLION), and Forecasts (2024 – 2030), By Platform
8.5. Europe Space Power Supply Market Type ($MILLION), and Forecasts (2024 – 2030), By Component
8.6. Europe Space Power Supply Market Type ($MILLION), and Forecasts (2024 – 2030), By Application
8.7. Europe Space Power Supply Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography
8.7.1. Germany
8.7.2. France
8.7.3. UK
8.7.4. Italy
8.7.5. Spain
8.7.6. Rest of Europe
9.    APAC SPACE POWER SUPPLY MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS)
9.1. APAC Space Power Supply Historical Market ($MILLION), (2017 – 2023)
9.2. APAC Space Power Supply Market ($MILLION) and Forecasts (2024 – 2030)
9.3. APAC Space Power Supply Market Type ($MILLION), and Forecasts (2024 – 2030), By Power Source
9.4. APAC Space Power Supply Market Type ($MILLION), and Forecasts (2024 – 2030), By Platform
9.5. APAC Space Power Supply Market Type ($MILLION), and Forecasts (2024 – 2030), By Component
9.6. APAC Space Power Supply Market Type ($MILLION), and Forecasts (2024 – 2030), By Application
9.7. APAC Space Power Supply Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography
9.7.1. China
9.7.2. Japan
9.7.3. South Korea
9.7.4. India
9.7.5. Australia
9.7.6. Rest of APAC
10.    LATIN AMERICA SPACE POWER SUPPLY MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS)
10.1. Latin America Space Power Supply Historical Market ($MILLION), (2017 – 2023)
10.2. Latin America Space Power Supply Market ($MILLION) and Forecasts (2024 – 2030)
10.3. Latin America Space Power Supply Market Type ($MILLION), and Forecasts (2024 – 2030), By Power Source
10.4. Latin America Space Power Supply Market Type ($MILLION), and Forecasts (2024 – 2030), By Platform
10.5. Latin America Space Power Supply Market Type ($MILLION), and Forecasts (2024 – 2030), By Component
10.6. Latin America Space Power Supply Market Type ($MILLION), and Forecasts (2024 – 2030), By Application
10.7. Latin America Space Power Supply Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography
10.7.1. Brazil
10.7.2. Argentina
10.7.3. Rest of Latin America
11.    COMPANY PROFILES:
11.1. NORTHROP GRUMMAN
11.1.1. Company Overview  
11.1.2. Company Snapshot  
11.1.3. Operating business segments
11.1.4. Product offered and Revenue
11.1.5. Production & Sales
11.2. Lockheed Martin Corporation
11.3. Airbus Defence and Space
11.4. Boeing
11.5. Ball Aerospace & Technologies
11.6. Maxar Technologies
11.7. Mitsubishi Electric Corporation
11.8. Thales Alenia Space
11.9. OTHER MARKET PLAYERS