Space Power Supply Market Size, Emerging Trends, Forecasts, and Analysis 2021-2026
May 19, 2022
Stratview Research releases a new report on the Space Power Supply Market that shows lucrative growth opportunities in the global industry during the next five-year period. This report ensures reliable information related to the present and future market trends. The following summary will give an overview of the challenges, dynamics, and more details mentioned in the report.
Space Power Supply Market Insights:
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.
The Space Power Supply Market size depends upon several factors that have direct or indirect influence on the demand and supply chain. The report published by Stratview Research throws light on the vital extracts of many such factors derived using different types of analysis like supply chain analysis, etc. These methods help in analysing the core strength of the companies, identifying their growth strategies, recognising their gaps as well as opportunities to lay out an effective roadmap which leads to higher profitability.
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Key Players
The report also highlights the topmost linchpins active in the market. According to the list, here are few key players mentioned in the report -
- 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.
Market Segmentation:
The report segments based upon geographics, demographics, benefits and volume etc., identifies the most attractive segments and sub-segments and have different driving factors. The segmentation mentioned in the report has been arranged in such a way that it can help users to be more efficient in terms of time, investment, and other resources. It also allows the businesses to learn more about their target audience so that they can tailor their strategies, and campaigns in increasing their market share and revenue.
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.
Report Customization Options
Stratview Research offers one of the following free customization options to the users along with this detailed report:
Company Profiling
- Detailed brief of additional market players.
- SWOT analysis of key players.
- Competitive Benchmarking
Benchmarking of the market key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.
Custom Research: Stratview research offers custom research services across 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.