Dublin, Aug. 03, 2021 (GLOBE NEWSWIRE) -- The "Space Power Supply Market Size, Share, Trend, Forecast, & Industry Analysis: 2021-2026" report has been added to ResearchAndMarkets.com's offering.
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
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.
Market Segments' Analysis
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.
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.
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.
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., and Teledyne Technologies Incorporated.
Key Topics Covered:
1. Executive Summary
2. Space Power Supply Market Overview and Segmentation
2.1. Space Power Supply Market Segmentation
2.2. PEST Analysis
2.3. Supply Chain Analysis
2.4. Industry Life Cycle Analysis
2.5. Market Drivers
2.6. Market Challenges
3. Space Power Supply Market - Assessment
3.1. Space Power Supply Penetration in the Overall Space Industry
3.2. Space Power Supply Market Trend and Forecast (US$ Million)
3.3. Market Segments' Analysis (US$ Million)
3.4. Regional and Country-Level Analysis (US$ Million)
4. Competitive Analysis
4.1. Market Concentration Level
4.2. Regional Competitive Dynamics
4.3. Key Information Regarding Regional Players
4.4. Product Portfolio Analysis
4.5. New Product Launches
4.6. Strategic Alliances
4.7. Porter's Five Forces Analysis
5. Space Power Supply Market Trend and Forecast by Application Type (2021-2026)
5.1. Segment's Analysis
5.2. Solar Panels & Arrays: Trend and Forecast (US$ Million)
5.3. Batteries: Trend and Forecast (US$ Million)
5.3.1. Battery Type (Primary, Secondary, and Reserve Battery): Trend and Forecast (US$ Million)
5.3.2. Material Type (Nickel, Lithium, Silver-Zinc, and Others): Trend and Forecast (US$ Million)
5.4. Power Modules: Trend and Forecast (US$ Million)
5.5. Thermoelectric Generators: Trend and Forecast (US$ Million)
5.6. Others: Trend and Forecast (US$ Million)
6. Space Power Supply Market Trend and Forecast by Application Type (2021-2026)
6.1. Segment's Analysis
6.2. Satellites: Trend and Forecast (US$ Million)
6.2.1. Satellite Type (LEO, MEO, and GEO): Trend and Forecast (US$ Million)
6.3. Launch Vehicles: Trend and Forecast (US$ Million)
6.3.1. Vehicle Type (Small & Medium-Lift and Heavy & Super Heavy-Lift): Trend and Forecast (US$ Million)
6.4. Space Exploration: Trend and Forecast (US$ Million)
6.4.1. Regional Trend and Forecast (US$ Million)
6.4.2. Type (Rovers and Others): Trend and Forecast (US$ Million)
7. Space Power Supply Market Trend and Forecast by Region (2021-2026)
7.1. Segment's Analysis
8. Strategic Growth Opportunities
8.1. Market Attractiveness Analysis
8.2. Emerging Trends
8.3. Growth Matrix Analysis
8.4. Strategic Implications
8.5. Key Success Factors (KSFs)
9. Company Profile of Key Players
- 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
For more information about this report visit https://www.researchandmarkets.com/r/rekove