Booming Construction Activity Drives Growth of the Space-Based Solar Power Market by 2025

As global energy systems move toward cleaner and more resilient power sources, interest in next-generation renewable technologies continues to surge. Among these innovations, space-based solar power is emerging as a transformative solution capable of delivering uninterrupted energy from orbit, positioning the sector for accelerated growth in the years ahead.

Growth Outlook for the Space-Based Solar Power Market by 2025

The space-based solar power market has expanded rapidly, with its valuation increasing from $1.54 billion in 2024 to a projected $1.71 billion in 2025, supported by a 10.8% CAGR. This rise is linked to several driving forces, including growing investments in sustainable energy initiatives, rising global concern over environmental issues, improved space launch capabilities, more frequent satellite deployments, strengthened focus on long-term energy autonomy, and expanded government and private funding for space-focused research and development.

Long Term Market Forecast for the Space-Based Solar Power Market Through 2029

Looking further ahead, the space-based solar power market is expected to reach $2.54 billion by 2029, advancing at a 10.5% CAGR. Several structural shifts support this trend, such as expanding policy support from governments worldwide, increasing demand for continuous and stable electricity, falling costs of space-grade hardware, the growing feasibility of wirelessly delivering power to remote areas, and intensifying efforts to achieve net-zero emissions. Key innovations on the horizon include orbital energy collection platforms, the integration of AI into power management systems, new modular spacecraft designs, defense-sector adoption for rapid-response power delivery, and advances aimed at reducing the cost of long-distance power transmission.

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Drivers Accelerating the Space-Based Solar Power Market

Rising global prioritization of renewable energy is expected to play a central role in advancing the space-based solar power market. As countries seek to lower greenhouse gas emissions and decrease dependence on fossil fuels, technologies harnessing continual natural resources-such as solar, wind, geothermal, and hydropower-are becoming increasingly critical.

Growing Renewable Energy Focus and Its Influence

Space-based solar installations complement existing renewable sources by offering round-the-clock solar power unhindered by weather or nighttime interruptions. Supporting this shift, Eurostat reported that renewable sources represented 24.5% of total energy consumption in the EU in 2023-up from 23.0% in 2022-underscoring the rising commitment to clean energy. This broader focus on sustainability is directly contributing to growing interest in space-based solar solutions.

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Innovations Shaping the Future of the Space-Based Solar Power Market

Companies within the space-based solar power market are increasingly advancing cutting-edge wireless energy transmission technologies designed to improve power delivery efficiency from orbit to Earth. This form of wireless transfer uses microwave or laser-based systems to transport energy over long distances without physical conductors.

A key milestone was reached in early 2023 when the California Institute of Technology launched the Space Solar Power Demonstrator (SSPD) to test essential components for space-based solar harvesting and wireless transmission. The demonstrator includes a lightweight, deployable structure optimized for large solar array installation, incorporates 32 different photovoltaic cell varieties to evaluate performance in harsh space conditions, and features a flexible microwave transmitter capable of wirelessly sending harvested energy while in orbit. These advancements mark critical progress toward future large-scale orbital power systems.

Major Segments Defining the Space-Based Solar Power Market

The space-based solar power market is divided into several major segments:

By Type: Microwave Transmitting, Laser Transmitting

By Component: Solar Collectors, Power Conversion Units, Transmission Systems, Control And Management Systems

By Technology: Photovoltaic Systems, Thermal Systems, Hybrid Systems

By Application: Electricity Generation, Space Applications

By End-Users: Government And Defense, Commercial

Subsegments include:

Microwave Transmitting: Rectenna Receiver, Phased Array Transmitter, Waveguide System, Beam Forming Unit

Laser Transmitting: Optical Amplifier, Beam Steering Module, Photovoltaic Receiver, Laser Source Unit

Leading Companies in the Space-Based Solar Power Market

Prominent players shaping the space-based solar power market include The Boeing Company; Lockheed Martin Corporation; Northrop Grumman Corporation; Mitsubishi Heavy Industries Ltd.; Shimizu Corporation; Thales Alenia Space; Aetherflux Inc.; OHB SE; Celestia Energy Corporation; SpaceTech GmbH; EMROD Limited; China Academy of Space Technology (CAST); Sirin Orbital Systems Ltd.; Solaren Corporation; Virtus Solis Inc.; Skycharge Services Corporation Ltd.; Space Solar Inc.; Star Catcher Industries Inc.; Volta Space Corporation; Flexell Space Ltd.

Key Regions Advancing the Space-Based Solar Power Market

North America held the largest share of the space-based solar power market in 2024, while Europe is projected to experience the fastest growth throughout the forecast period. The regions examined in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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