Emerging Trends to Drive Rocket Electrical Power Systems Market Growth at 7.6% CAGR Through 2029

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Rocket Electrical Power Systems Market Size Growth Forecast: What to Expect by 2025?
Over the past few years, the size of the rocket electrical power systems market has significantly expanded. Projected growth suggests an increase from $1.45 billion in 2024 to $1.56 billion in 2025, with a compound annual growth rate (CAGR) of 7.8%. This vigorous expansion during the historic period was driven by factors such as increased governmental funding for space initiatives, an uptick in defense and surveillance missions, the emergence of small launch vehicle development, and the proliferation of global communication networks.

How Will the Rocket Electrical Power Systems Market Size Evolve and Grow by 2029?
The market for rocket electrical power systems is set to witness a significant surge in the forthcoming years, with a predicted growth to $2.09 billion by 2029, signifying a compound annual growth rate (CAGR) of 7.5%. This expansion throughout the forecast period can be ascribed to the increase in reusable launch systems, the rise of commercial space tourism, and elevated private sector investments in space technology. In addition, there's an increased demand for deep space exploration missions. Key trends for this period involve improvements in high-density lithium-ion and solid-state batteries, the incorporation of solar array systems for lengthy missions, the evolution of smart power management and distribution (PMAD) systems, the use of radiation-tolerant electrical parts, and the downsizing of power electronics to enable a more lightweight spacecraft design.

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What Drivers Are Propelling the Growth of Rocket Electrical Power Systems Market Forward?
The increase in space exploration activities is set to boost the rocket electrical power systems market. Space exploration activities, which include missions, research, and space-based operations aimed at scientific discovery, technological development, and commercial opportunities beyond Earth, are on the rise. This increase is fueled by the higher need for sophisticated communication and Earth observation satellites, which provide global connectivity, the ability to monitor the environment, and enhanced security. Rocket electrical power systems play a critical role in space exploration, supplying steady power to vital navigation, communication, and propulsion systems and ensuring reliable mission execution in harsh space conditions. For example, Novaspace, a French space consultancy firm, reported government expenditure on space exploration came to $27 billion in 2024, with projections indicating it will approach $31 billion by 2034. As such, the rocket electrical power systems market is being propelled by the escalating space exploration activities.

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Which Emerging Trends Are Transforming the Rocket Electrical Power Systems Market in 2025?
Main players in the rocket electric power systems market are prioritizing the development of sophisticated products like power generation units for enhanced mission duration and dependable performance in harsh space environments. Power generation units for rockets can be described as devices that generate electric energy from solar panels, fuel cells, or thermoelectric generators to power the onboard systems during missions. For example, in April 2025, Rocket Lab USA Inc., an aerospace and defense firm based in the US, launched a new line of adaptable solar arrays for satellites, referred to as the Standardized Array (STARRAY). The STARRAY line of products, which comprises power generation units, provides custom solar power solutions specific to the mission, with power output that spans from approximately 100 watts to over 2,000 watts. This is achieved through modular panel configurations and the use of Rocket Lab's efficient, radiation-tolerant quadruple junction solar cells. The new line leverages integrated manufacturing to quickly deliver cost-effective and trust-worthy solar arrays, all tailored to diverse satellite missions.

What Are the Key Segments in the Rocket Electrical Power Systems Market?
The rocket electrical power systems market covered in this report is segmented -

1) By Component: Power Generation, Power Storage, Power Distribution, Power Management
2) By Application: Launch Vehicles, Satellites, Space Probes, Space Stations
3) By End-User: Commercial, Military, Government, Research Organizations

Subsegments:
1) By Power Generation: Solar Arrays, Fuel Cells, Thermoelectric Generators, Turbogenerators, Radioisotope Power Systems (RPS)
2) By Power Storage: Lithium-Ion Batteries, Nickel-Cadmium Batteries, Nickel-Hydrogen Batteries, Supercapacitors, Solid-State Batteries
3) By Power Distribution: Power Distribution Units (PDUs), Electrical Bus Systems, Load Control Switches, Circuit Protection Devices, Power Harnesses And Cabling
4) By Power Management: Power Conditioning Units (PCUs), Voltage Regulators, Battery Management Systems (BMS), Energy Monitoring Systems, Redundant Power Controllers

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Who Are the Key Players Shaping the Rocket Electrical Power Systems Market's Competitive Landscape?
Major Companies operating in the rocket electrical power systems market are RTX Corporation, Lockheed Martin Corporation, The Boeing Company, Airbus Group, Northrop Grumman Corporation, Honeywell International Inc., BAE Systems plc, Safran S.A., Leonardo S.p.A., Teledyne Technologies, Mitsubishi Electric Corporation, Moog Inc., Ball Aerospace & Technologies, Sierra Nevada Corporation, OHB SE, TERMA, Rocket Lab USA Inc., AAC Clyde Space, ZIN Technologies, RUAG Space.

What Geographic Markets Are Powering Growth in the Rocket Electrical Power Systems Market?
North America was the largest region in the rocket electrical power systems market in 2024. The regions covered in the rocket electrical power systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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