Space Power Supply Market Size Worth USD 4.34 Billion in 2030

The Space Power Supply market size was USD 3.75 Billion in 2021 and is expected to register a revenue CAGR of 1.8% during the forecast period, according to the latest analysis by Emergen Research. Increasing development of low earth orbit satellites is a key factor driving revenue growth of the market. Smaller satellites are now being built, launched, and operated for less money, allowing for mega-constellations of satellites to be deployed more quickly and adaptably. In the recent years, there has been a significant development in the space sector. Current trend is to deploy fewer, simpler, less expensive, and smaller satellites as opposed to a few expensive, complicated, and huge spacecraft. In addition, interest in small satellites (usually weighing less than 500 kg) has surged due to reduction of formerly bulky satellite components, standardization, and much lower prices brought on by design and manufacturing breakthroughs

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Some Key Highlights from the Report:

The thermoelectric generator segment is expected to register a significant market revenue growth. Radioisotope Thermoelectric Generators (RTG) are a type of thermoelectric generator used in spacecraft and launch vehicles. Radioisotope confinement is required for safe operation of RTGs long after the device has passed end of its practical life.
The satellite segment is expected to register a substantial growth over the forecast period. Main causes driving demand for satellites are increase in demand for Direct-To-Home (DTH) television, conversion of standard definition television, and international broadcasting in industrialized countries. Growth of digital TV demand, expansion of communication and broadcasting industries, and continued spread of internet access and video distribution are all contributing to revenue growth in this segment.
The North America market is expected to register a considerable growth during the forecast period. Region's growing reliance on satellite-based telemetry systems for a range of commercial and military purposes is driving demand for satellite systems, which in turn, is increasing demand for space power supply systems.
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The report further sheds light on the emerging growth opportunities, challenges, market threats, limitations, and factors likely to restrict the growth of the Space Power Supply market. The report further discusses in detail the market in international waters and the emerging trends in those regions. It also offers insights into the competitive landscape, market drivers, industrial scenario, and the latest product and technological developments to offer a comprehensive overview of the Space Power Supply market landscape.

The Space Power Supply research report also includes an insightful study of the prominent players of the industry along with their business overview, strategic planning, and business expansion plans adopted by them. This assists the readers and business owners in formulating strategic expansion and investment plans. The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and others. The report also talks about the expansions these prominent players are vying for in the key regions of the market. The report focuses on the detailed analysis of the technological and product developments undertaken by these companies.

The key companies studied in the Space Power Supply report are:

Some major companies in the market report include Northrup Grumman Corporation, AZUR SPACE Solar Power GmbH, Saft Groupe S.A, Airborne, Teledyne Technologies Incorporated, Airbus SE, EaglePicher Technologies, DHV Technology, SolAero Technologies, Inc., and GS Yuasa Corporation.

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Regional Segmentation

On the basis of regional analysis, the market is segmented into the following regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The market is expected to be dominated by North American nations closely followed by European countries. Asia Pacific is expected to show a significant growth owing to recent advancements and rising investments in the R&D sector.

Emergen Research has segmented the Space Power Supply market based on product type, application, and region:

Product Type (Revenue, USD Billion; 2019-2030)
Solar Panel & Arrays
Batteries
Power Modules
Thermoelectric Generators
Others
Application Outlook (Revenue, USD Billion; 2019-2030)
Satellites
Launch Vehicles
Space Exploration
The report addresses the following key points:
The report provides a forecast of market drivers, restraints, and future opportunities for the Space Power Supply market
The report further analyses the changing market dynamics
Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
Extensive competitive landscape mapping with profiles of the key competitors
In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
Revenue forecast, country scope, application insights, and product insights

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