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FREMONT, Calif. , May 27, 2022 /PRNewswire/ -- The global space power supply market is expected to generate huge revenues from the solar panel segment, with a share of 33% in 2032. Its market size was witnessed to be $945.1 million in 2021 and is projected to reach close to $1.7 billion by 2032, registering a CAGR of 0.28% during the forecast period 2022-2032. One of the major factors attributing to this growth is the growing demand for solar arrays for several satellite missions.

In Earth orbit, the sun provides around 1.4 kilowatts of power per square meter and is a resource that spacecraft designers strive to leverage with as much efficiency as possible. This has led to the use of solar as the predominant method for generating power for the satellite. The effectiveness of solar panels is determined by the temperature, intensity, and angle at which the sun's rays strike them.

Overall, the global space power supply market is projected to reach $5.17 billion in terms of revenue by 2032, at a CAGR of 1.66%, suggests the premium market intelligence study by BIS Research.

The research study is based on extensive primary interviews (in-house industry players, market leaders, and experts) and secondary research (a host of paid and unpaid databases), along with analytical tools to predict the forecast analysis for the study period. With the help of these, the space power supply study provides a broader perspective of the industry.

The detailed study is a compilation of 74 market data tables and 20 figures spread through 145 pages and in-depth TOC on "Global Space Power Supply – Analysis and Forecast, 2022-2032"

Demand – Drivers, Limitations, and Opportunities 

Following are the drivers for the space power supply market:

Following are the challenges for the space power supply market:

Following are the opportunities for the space power supply market:

Reasons to Buy This Report   This exclusive report on space power supply market will help you in the following ways:

Analyst's Take on the Market:

According to Arun Sampathkumar , Principal Analyst, BIS Research, "With close to 3,000 satellites to be launched every year, the demand for satellite subsystems and components is rising rapidly. The satellite manufacturing domain is migrating to an automotive-style serial production format. From a power perspective, the demand for efficient and lighter power subsystems and components is growing, especially in the micro-satellite segment. Non-space battery and associated power electronics suppliers will have new opportunities within the space industry owing to the satellite manufacturers expanding their supplier base due to the need for enhanced production capacity to enable their serial production aspirations."

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Key Companies Operating in the Market and Competitive Landscape

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

The top segment players leading the market include established players providing space power supply solutions and constitute 70% of the presence in the market. Other players include start-up entities, which account for approximately 30% of the presence in the market.

Some of the prominent names operating in this market are:

Company Type 1: Solar Cell and Solar Array Manufacturers

Company Type 2: Primary and Secondary Manufacturers

Companies that are not a part of the previously-mentioned pool have been well represented across different sections of the report (wherever applicable).

Who Should Buy This Report?

The companies that manufacture and commercialize space power supply products, including solar cells, solar array/panels, primary batteries, secondary batteries, thermoelectric generators power modules, and other power electronics, should buy this report.

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Key Questions Answered in the Report:

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