Space Battery Market: Global Industry Analysis and Forecast (2021-2027) Trends, Statistics, Dynamics, Segmentation by Type, Platform, Application, and Region.

Global Space Battery Market was valued at US$ 3.44 Bn. in 2021. The global Space Battery Market size is estimated to grow at a CAGR of 6.48% over the forecast period.

Space Battery Market Overview:

Batteries are used in a variety of vehicles, particularly space-related equipment and spacecraft. The space battery market has evolved in lockstep with the space applications market. As humans go on more space missions, including private space trips with space research behemoths like SpaceX, the demand for space batteries has skyrocketed. The number of space missions to various planets and solar systems in the cosmos has increased. As a result, the current size of the Space Battery Market has grown naturally. The Market is expected to grow during the forecast period. In addition, the type of equipment and vehicle employed in space voyages and efforts has increased. Space Battery Market To know about the Research Methodology :- Request Free Sample Report

Space Battery Market Dynamics:

Many favorable growth drivers are now functioning on the Space Battery Market. The usage of space heater batteries and other batteries for space applications, for example, is a market driver. The growing use of space batteries in various private and public space missions is a clear development factor for the industry. For example, SS/L, manufactures the space batteries for the International Space Station under a contract with Boeing. The market is expected to rise due to the increased use of lithium-ion space batteries due to their durability. The growth of the space battery market is being aided by private sector enterprises across the globe in the space community. Another Factor driving up demand for sophisticated batteries in the market is technological advancements in space batteries. Current market participants are putting in a lot of effort to stay ahead of the curve, which has resulted in the development of batteries with a 500 Wh/kg specific energy. The creative approach to space battery technology would look for ways to reduce associated shortcomings of existing batteries, such as lithium-ion batteries' poor performance in extremely low temperatures and a condition known as thermal runaway, which is caused by overcharging. The satellite industry's rapid growth is the key source of long-term demand for spacecraft batteries. Space X, which has a satellite constellation, is deploying dedicated satellites to provide high-speed internet to people all over the world. By 2024, the business expects to launch 4,425 satellites. When compared to present broadband connections, the launch is expected to give super-fast internet with lower latency. Such changes are projected to present both existing and new companies in the space battery market with high-growth potential. Space exploration programs are gradually providing the backbone for most human services such as telecommunication, education, and healthcare, among others. The successful completion of a space launch program necessitates the use of energy, which is not achievable without the usage of space batteries. This is the most important factor in the market for space batteries. In addition, batteries are utilized in a wide range of applications in space, including earth-orbiting spacecraft, launch vehicles, space shuttles, crew return vehicles, astronaut equipment, landers, rovers, and planetary spacecraft. Batteries are mostly used to store electrical energy or as a power source. As batteries are a stable source of backup power, they are utilized to store surplus energy in the case of a power system failure. Batteries for space applications must be able to tolerate stress, vibration, and acceleration, as well as operate in a harsh vacuum. Batteries also give maximum electrical energy in the smallest possible volume and weight. The space battery market is driven by long active shelf life of up to 10 years and 30,000 life cycles. Some planetary missions require radiation and resistance temperatures as low as 80°C. Different battery systems, on the other hand, are utilized and custom-designed to satisfy the needs of a specific space mission, as no one battery system can match these needs. This is a stumbling block for the space battery market.

Space Battery Market Segment Analysis:

Based on the Type, the Space Battery Market is segmented into Nickel-based Batteries, Lithium-based Battery, Silver-Zinc Battery, and Others. The Lithium-based Battery segment held the largest market share, accounting for 52% in 2021. The segment growth is driven by innovation aimed at producing highly reliable, high-performing, and cost-effective technology by lowering the battery's SWaP. It is also expected to increase at the fastest rate during the projection period. Lithium-ion, or Li-ion, batteries, which employ chemicals to store energy, will be used in Space Technology 5's small-sat. A control circuit is included in each cell of a Li-ion battery to restrict voltage peaks during charging and prevent the voltage from dropping too low during discharge. The maximum charge and discharge currents are also limited by this control circuit. Nickel-cadmium batteries are currently employed in space flight. They're also known as NI-Cad. Solar cells convert the Sun's energy into electricity, which is used to charge these batteries. Nickel-based batteries use nickel in conjunction with cadmium, hydrogen, and other elements. Because of their ability to recharge quickly, nickel-cadmium batteries were initially chosen over ordinary lead-acid batteries. Space Battery Market Based on the Platform, the Space Battery Market is segmented into Communication, Earth Observation, Military Surveillance, Science, Navigation, and Others. Based on platform mission type, the most dominating category is space batteries used in platforms deployed for military surveillance, driven by a growing demand to monitor and battle expanding terrorist activities, as well as the relevance of surveillance systems in fourth-generation warfare. Another prospective area, navigation, is expected to rise at the fastest rate in the market during the forecast period, owing to rising demand for global navigation systems such as GPS, particularly in emerging Asian countries.

Space Battery Market Regional Insights:

The North America region held the largest market share accounting for 39% in 2021. North America is one of the most dominating areas in the space battery market, thanks to an increased focus on research and ongoing advancements in space mission planning and design. Canada's space sector is actively investing in space technologies that prioritize national security and safety, resource management, sovereignty, and environmental monitoring, making it one of the region's most powerful industries. Europe is expected to have the second-largest market share. This is due to the existence of important satellite manufacturers with a strong focus on compact spacecraft, such as Airbus Defense & Space (located in France), Thales Alenia Space (France), and Surrey Satellite Technology (based in the United Kingdom and owned by Airbus). The objective of the report is to present a comprehensive analysis of the global Space Battery Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Space Battery Market dynamic, structure by analyzing the market segments and projecting the Space Battery Market size. Clear representation of competitive analysis of key players by Platform, price, financial position, product portfolio, growth strategies, and regional presence in the Space Battery Market make the report investor’s guide.

Space Battery Market Scope: Inquiry Before Buying

Space Battery Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 3.44 Bn.
Forecast Period 2021 to 2027 CAGR: 6.48% Market Size in 2027: US $ 5.01 Bn.
Segments Covered: by Type • Nickel-based Battery • Lithium-based Battery • Silver-Zinc Battery • Others
by Platform • Communication • Earth Observation • Military Surveillance • Science • Navigation • Others
by Application • Propulsion Systems • Communication & Navigation Systems • Fire Control Systems • Electro-Optics & Thermal Imaging Systems • Others

Space Battery Market by Region

• North America • Europe • Asia Pacific • Latin America • The Middle East and Africa

Space Battery Market Key Players

• EnerSys • Arotech Corporation • EaglePicher Technologies • Bren-Tronics Inc. • Saft Groupe • A123 Systems Inc. • Automotive Energy Supply Corporation (AESC) • Aviation Industry Corporation of China (AVIC) • BYD Company Ltd. • CBAK Energy Technology Inc. • Hitachi Chemical Co • GS Yuasa Corporation • Mitsubishi Electric Corporation • VARTA AG • EXIDE Technologies (US) • Bren-Tronics, Inc. • Hitachi Chemical Co Frequently Asked Questions: 1] What segments are covered in the Space Battery Market report? Ans. The segments covered in the Space Battery Market report are based on the Type, Platform, and Application. 2] Which region is expected to hold the highest share in the Space Battery Market? Ans. The North American region is expected to hold the highest share in the Space Battery Market. 3] What is the market size of the Space Battery Market by 2027? Ans. The market size of the Space Battery Market by 2027 is expected to reach at US$ 6.50 Bn. 4] What is the forecast period for the Space Battery Market? Ans. The forecast period for the Space Battery Market is 2022-2027. 5] What was the market size of the Space Battery Market in 2021? Ans. The market size of the Space Battery Market in 2021 was valued at US$ 3.82 Bn.
1. Global Space Battery Market Size: Research Methodology 2. Global Space Battery Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Space Battery Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Space Battery Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Global Space Battery Market Size Segmentation 4.1. Global Space Battery Market Size, by Type (2021-2027) • Nickel-based Battery • Lithium-based Battery • Silver-Zinc Battery • Others 4.2. Global Space Battery Market Size, by Platform (2021-2027) • Communication • Earth Observation • Military Surveillance • Science • Navigation • Others 4.3. Global Space Battery Market Size, by Application (2021-2027) • Communication • Earth Observation • Military Surveillance • Science • Navigation • Others 5. North America Space Battery Market (2021-2027) 5.1. North America Space Battery Market Size, by Type (2021-2027) • Nickel-based Battery • Lithium-based Battery • Silver-Zinc Battery • Others 5.2. North America Space Battery Market Size, by Platform (2021-2027) • Communication • Earth Observation • Military Surveillance • Science • Navigation • Others 5.3. North America Space Battery Market Size, by Application (2021-2027) • Communication • Earth Observation • Military Surveillance • Science • Navigation • Others 5.4. North America Space Battery Market, by Country (2021-2027) • United States • Canada • Mexico 6. European Space Battery Market (2021-2027) 6.1. European Space Battery Market, by Type (2021-2027) 6.2. European Space Battery Market, by Platform (2021-2027) 6.3. European Space Battery Market, by Application (2021-2027) 6.4. European Space Battery Market, by Country (2021-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Space Battery Market (2021-2027) 7.1. Asia Pacific Space Battery Market, by Type (2021-2027) 7.2. Asia Pacific Space Battery Market, by Platform (2021-2027) 7.3. Asia Pacific Space Battery Market, by Application (2021-2027) 7.4. Asia Pacific Space Battery Market, by Country (2021-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa Space Battery Market (2021-2027) 8.1. The Middle East and Africa Space Battery Market, by Type (2021-2027) 8.2. The Middle East and Africa Space Battery Market, by Platform (2021-2027) 8.3. The Middle East and Africa Space Battery Market, by Application (2021-2027) 8.4. The Middle East and Africa Space Battery Market, by Country (2021-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Space Battery Market (2021-2027) 9.1. Latin America Space Battery Market, by Type (2021-2027) 9.2. Latin America Space Battery Market, by Platform (2021-2027) 9.3. Latin America Space Battery Market, by Application (2021-2027) 9.4. Latin America Space Battery Market, by Country (2021-2027) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. EnerSys 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Arotech Corporation 10.3. EaglePicher Technologies 10.4. Bren-Tronics Inc. 10.5. Saft Groupe 10.6. A123 Systems Inc. 10.7. Automotive Energy Supply Corporation (AESC) 10.8. Aviation Industry Corporation of China (AVIC) 10.9. BYD Company Ltd. 10.10. CBAK Energy Technology Inc. 10.11. Hitachi Chemical Co 10.12. GS Yuasa Corporation 10.13. Mitsubishi Electric Corporation 10.14. VARTA AG 10.15. EXIDE Technologies (US) 10.16. Bren-Tronics, Inc. 10.17. Hitachi Chemical Co

About This Report

Report ID 31284
Category Energy & Power
Published Date June 2019
Updated Date Mar 2022
Contact Us