Global Space Based Solar Power Market Size, Share & Trends Analysis Report, By Satellite Type (Microwave Transmitting Solar Satellite, Laser Transmitting Solar Satellite), By Application, By Region (North America, Europe, APAC, and Others), and Segment Forecasts, 2024 – 2032
  • Published Date: Jan, 2024
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  • Pages: 200
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  • Table of Contents
  • Segmentation
  • Methodology
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Global Space Based Solar Power Market was valued at US $ 425.7 million in 2023 and is expected to reach US $ 902.2 million by 2032 growing at a CAGR of 7.8 % during the forecast period 2024 – 2032.

Solar power in space (SBSP) is a new idea that uses solar power satellites to capture solar energy and transmit it from satellites back to ground receiving stations. Solar technology exploitation beyond the atmosphere of the earth as sunshine is much brighter and available all times uninterrupted regardless of weather conditions. Secondly, the accumulated energy from outer space is then transferred back to earth using laser and microwave beams where it is once again converted to electrical energy for consumption by individuals’ households.

Reliability, and optimization of operations are among the primary considerations in providing automation. Furthermore, automation reduces the overall expenses associated with space-based solar power systems. There is a lot of buzz around this development space with regard to clean, green and eco-friendly renewable energy options that are expected to catapult its expansion in the near future. Space based solar power systems are attractive in view of growing global interest in sustainable technology as an alternative for handling energy needs and reducing carbon emissions at the same time.

This implies that SBSP could serve as one of the solutions on various challenges surrounding space missions and infrastructure. In essence, SBSP mainly is used to supply electrical energy for space travelers such as spacecrafts, satellites and rovers. These systems utilize abundant solar power that comes from space. Therefore, they operate for long periods without having to be resupplied and rely on exhaustible energy resources.

However, SBSP can offer a persistent and reliable energy form for space missions that need long durations in the outer space or trips into the deep space. SBSP may be suitable for future Moon and Mars missions where reliable power is vital. This translates to reduced need for supply trips and more affordable and sustained space exploration. While the energy harvested through SBSP can be utilized in space it can also be transferred to earth as electricity for many purposes. These receiving stations on earth can convert the received energy to useful electricity for powering cities, industries and homes as well. This can radically transform how we generate and distribute energy. Such a strategy is crucial in reducing carbon emissions and promoting cleaner alternatives to fossil fuels.

The Space Based Solar Power Trend Analysis

Adoption of robotics and automation has greatly helped towards improving the efficacy of operations and reducing costs in space missions. Space technology innovation such as reusable missiles and robot automation have also paved way for more prospective possibilities in regard to sustainable life in space for a longer time. With time the notion of “space-based solar power” is becoming a more achievable reality and the overall credibility and cost-efficiency of space missions and solutions aimed at securing the sustainable energy supply system increase.

Furthermore, automating solar systems that are going to be used in the space will enhance reliability, improve process and may result in reduced costs. The improvements in the space technology as well as the rising need for clean and environmentally friendly power sources make some speculations on growth trends which might result into significant development of the offline PV industry. Space-based solar powered technology could be used to meet energy demands without using fossil fuels that damage the environment.

Segmentation Analysis of the Space Based Solar Power Market

By Application Analysis

The largest market share in 2022 belongs to the electricity generation segment.

The production of electricity was the major part in a global setting. This relatively big proportion is attributable mainly to the increase in sectoral energy demands and growing interest in green energy generation. This unlimited and constant supply of renewable solar energy can be used to produce electricity non-stop which will certainly mean there always is reliable and constant generation of energy at all times.

Space-based solar power systems, however, are of utmost priority since they generate power to satellites and spacecraft hence, reducing frequent refuelling and energy storage dependencies. It increases the durability of these technologies in supporting long-duration missions and makes more efficient missions possible. More. This is because as mentioned in this article above, there are various advantages associated with such systems that make them one of the best resolutions for addressing the need for energy and space endeavours.

It is expected that the most intense growth will occur in the space sector. It ensures smooth and stable energy supply of satellite working in the sea environment. Satellites use electricity to support activities like communication, navigation, data collection, running scientific instruments, etc. These SBSP systems also allow continuous power supply to the satellites that reduces the dependency on board batteries.

In addition, solar power is crucial for a host of space infrastructures such as research facilities, habitats and stations among others. Life support system, experiments, communications, various operations will take place in the space environment so these structures require constant reliable power supply for operation. These vital space operations are supported by essential electrical energy obtained from space-based solar power systems.

By Satellite Type Analysis

It is forecasted that by year 2022, the solar satellite segment that transmits microway will take the biggest market part.

The forecasts for this segment is that it will have a very large market share. The world is looking for more and more renewable energy as a solution to the global warming issue; therefore many countries try to find another source of power from out of space. The need becomes compelling to adopt microwave-transmitting solar satellites, which can arguably be considered pioneering. Solar satellites with ability to generate pure and clean power supply provide a better solution compared to other alternatives. Thus, in contributing significantly to cleanliness and sustainability.

Growth of the laser segment was quite rapid. These satellites can provide electric powers for the orbits transport vessels during their missions. These vehicles receive energy from satellites that transfer power from outer space and subsequently reduce dependency with their internal power. Such a technological revolution allows orbital transfer vehicles to be better endured and equipped for more effective and economical performance of tasks in space.

Regional Analysis of the Space Based Solar Power Market

The North American Region controlled the global market in 2022.

North America held the largest market share of the global market. The United States now stands in that region as an important American market for the space-based solar energy. The emergence of SBSP technology received remarkable contributions from prominent industry participants like Northrop Grumman and Solaren Corporation amongst others that were actively involved in its development. Also, regional administration funds investigations into this technology use as clean energy alternative. It stimulates innovation in energy generating technologies in outer space to be used efficiently in promoting the growth of new markets into the region.

Growth rates are also expected to be very high in APAC. The main drivers of expansion have been enhanced investments, as well as research and development activities into space-based solar power technology. Besides, this proximity to a large customer base contributes towards the rapid growth in the market. In addition, India and China have become major players in solar power production and space undertakings contributing to the growth of regional market. Expansion of such facilities helps to make a move towards introduction of space based solar energy in such location.

Top Key Players Covered

  • Airborne
  • AZUR SPACE Solar Power
  • Borrego Energy
  • DHV Technology
  • Fralock
  • Japan Aerospace Exploration Agency
  • Northrop Grumman,
  • Solaren Corporation
  • SpaceTech
  • Space Canada

Key Industry Developments in the Space Based Solar Power Market

  • In January 2023, Japan came up among the countries interested in building space-based sun energy equipment. They are planning on sending out solar panels that will then reflect the generated energy down to earth using microwaves. Both China and UK have shown keen interest in testing this modern tech.
  • In January 2023, the space solar power demonstrator (SSPD), was initiated orbital operations by the California institute of technology. This ambitious attempt aims at bringing reliable, long distance wireless transmission for power supply to those regions that currently suffer from unreliable electricity access.
  • By 2028, as planned for June 2022, China wants to install a new solar power station in Space. The main objective of the solar is to collect solar energy and transform it into an electric energy that is later translated either into lasers or microwaves.

Report Components Details
Base Year 2022
Forecast Period 2022-2030
Quantitative Units Revenue in US $
Segments Covered By Satellite Type: Microwave Transmitting Solar Satellite, Laser Transmitting Solar Satellite By Application: Electricity Generation, Space Applications
Countries Covered U.S. and Canada in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the APAC, Others include Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA), Brazil, Argentina, Mexico, and Rest of South America as part of South America
Market Players Covered Airborne, AZUR SPACE Solar Power, Borrego Energy, DHV Technology, Fralock, Japan Aerospace Exploration Agency, Northrop Grumman,, Solaren Corporation, SpaceTech, Space Canada

Table of Contents

1 INTRODUCTION OF GLOBAL Space Based Solar Power Market

1.1 Overview of the Market

1.2 Scope of Report

1.3 Assumptions

 

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY

3.1 Data Mining

3.2 Validation

3.3 Primary Interviews

3.4 List of Data Sources

 

4 GLOBAL Space Based Solar Power Market OUTLOOK

4.1 Overview

4.2 Market Dynamics

4.2.1 Drivers

4.2.2 Restraints

4.2.3 Opportunities

4.3 Porters Five Force Model

4.3.1. Bargaining Power of Suppliers

4.3.2. Threat of New Entrants

4.3.3. Threat of Substitutes

4.3.4. Competitive Rivalry

4.3.5. Bargaining Power among Buyers

4.4 Value Chain Analysis

 

5 GLOBAL Space Based Solar Power Market BY Satellite

5.1 Overview

5.2 Microwave

5.3 Transmitting

5.4 Solar Satellite

5.5 Laser Transmitting

5.6 Solar Satellite

 

6 GLOBAL Space Based Solar Power Market, BY Application

6.1 Overview

 

8 GLOBAL Space Based Solar Power Market, By REGION

8.1 North America

8.1.1 U.S.

8.1.2 Canada

8.2 Europe

8.2.1 Germany

8.2.3 U.K.

8.2.4 France

8.2.5 Rest of Europe

8.3 Asia Pacific

8.3.1 China

8.3.2 Japan

8.3.3 India

8.3.4 South Korea

8.3.5 Singapore

8.3.6 Malaysia

8.3.7 Australia

8.3.8 Thailand

8.3.9 Indonesia

8.3.10 Philippines

8.3.11 Rest of Asia Pacific

8.4 Others

8.4.1 Saudi Arabia

8.4.2 U.A.E.

8.4.3 South Africa

8.4.4 Egypt

8.4.5 Israel

8.4.6 Rest of Middle East and Africa (MEA)

8.4.7 Brazil

8.4.8 Argentina

8.4.9 Mexico

8.4.10 Rest of South America

 

9 COMPANY PROFILES

9.1 Airborne

9.1.1. Company Overview

9.1.2. Key Executives

9.1.3. Operating Business Segments

9.1.4. Product Portfolio

9.1.5. Financial Performance (As per availability)

9.1.6 Key News

 

9.2 AZUR SPACE Solar Power

9.2.1. Company Overview

9.2.2. Key Executives

9.2.3. Operating Business Segments

9.2.4. Product Portfolio

9.2.5. Financial Performance (As per availability)

9.2.6 Key News

 

 

9.3 Borrego Energy

9.3.1. Company Overview

9.3.2. Key Executives

9.3.3. Operating Business Segments

9.3.4. Product Portfolio

9.3.5. Financial Performance (As per availability)

9.3.6 Key News

 

9.4 DHV Technology

9.4.1. Company Overview

9.4.2. Key Executives

9.4.3. Operating Business Segments

9.4.4. Product Portfolio

9.4.5. Financial Performance (As per availability)

9.4.6 Key News

 

9.5 Fralock

9.5.1. Company Overview

9.5.2. Key Executives

9.5 3. Operating Business Segments

9.5.4. Product Portfolio

9.5.5. Financial Performance (As per availability)

9.5.6 Key News

 

9.6 Japan Aerospace Exploration Agency

9.61. Company Overview

9.6.2. Key Executives

9.6.3. Operating Business Segments

9.6.4. Product Portfolio

9.6.5. Financial Performance (As per availability)

9.6.6 Key News

9.7 Northrop Grumman

9.7.1. Company Overview

9.7.2. Key Executives

9.7.3. Operating Business Segments

9.7.4. Product Portfolio

9.7.5. Financial Performance (As per availability)

9.7.6 Key News

 

9.8 Solaren Corporation

9.8.1. Company Overview

9.8.2. Key Executives

9.8.3. Operating Business Segments

9.8.4. Product Portfolio

9.8.5. Financial Performance (As per availability)

9.8.6 Key News

 

9.9 SpaceTech

9.9.1. Company Overview

9.9.2. Key Executives

9.9.3. Operating Business Segments

9.9.4. Product Portfolio

9.9.5. Financial Performance (As per availability)

9.9.6 Key News

 

9.10 Space Canada

9.10.1. Company Overview

9.10.2. Key Executives

9.10.3. Operating Business Segments

9.10.4. Product Portfolio

9.10.5. Financial Performance (As per availability)

9.10.6 Key News

Global Space Based Solar Power Market Segmentation

Space Based Solar Power by Satellite Type: Market Size & Forecast 2024-2032

  • Microwave Transmitting Solar Satellite
  • Laser Transmitting Solar Satellite

Space Based Solar Power by Application: Market Size & Forecast 2024-2032

  • Electricity Generation
  • Space Applications

Space Based Solar Power by Geography: Market Size & Forecast 2024-2032

  • North America (USA, Canada, Mexico)
  • Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
  • South America (Brazil, Argentina, Columbia, Rest of South America)
  • Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Major Players:

  • Airborne
  • AZUR SPACE Solar Power
  • Borrego Energy
  • DHV Technology
  • Fralock
  • Japan Aerospace Exploration Agency
  • Northrop Grumman,
  • Solaren Corporation
  • SpaceTech
  • Space Canada

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