Space Power Supply Market May Reach $12.52 Billion
The global space power supply market value is projected to reach $12.52 billion by 2030, according to a new market intelligence study from ASDReports. The study also highlights that the market value is set to witness a CAGR of 16.53% during the forecast between 2020 and 2030.
"The space power supply market ... is expected to grow steadily over the years, as the need for systems to power the spacecraft is never going to cease. The power systems are anticipated to meet the energy requirements of the spacecraft without compromising the optimum payload characteristics."
lead analyst Nilopal Ojha.
The report consists of the various market drivers, challenges, opportunities, competition benchmarking, and segmental analysis of regions, along with company profiles of key players.
This study indicates that the increasing dependence on satellites for both military and commercial sectors and increasing demand for light-weight power components are fueling the growth of the market.
The market segments are further classified to get an in-depth analysis of the study to gain a comprehensive view of the market.
The comprehensive research study of the global space power supply market covers the following:
Elaborated segments focused on the different applications and products required by the industry.
Extensive analysis of the competitive benchmarking of key companies based on several factors.
Detailed market share analysis of the global and regional markets including the scrutiny of more than ten countries
"The space power supply market is a well-established market with several players providing technologically advanced products and services for the market. But the need for a more efficient system has always existed and is expected to continue till an ideal system is designed," said lead analyst Nilopal Ojha. "The market is expected to grow steadily over the years, as the need for systems to power the spacecraft is never going to cease. The power systems are anticipated to meet the energy requirements of the spacecraft without compromising the optimum payload characteristics. With the level of investments in the space industry, the challenges faced currently are going to fade out in the next few years.”
In-depth interviews with market leaders have given key insights for the study and helped in the data triangulation. The key players profiled in the report include AAC Clyde Space, Airborne, Airbus S.A.S., AZUR SPACE Solar Power GmbH, DHV Technology, EaglePicher Technologies, EnduroSat, GS Yuasa Lithium Power, Innovative Solutions in Space, Northrop Grumman Corporation, Shanghai Institute of Solar Power-Sources, Sierra Nevada Corporation, Solaero Technologies, Spectrolab, and Teledyne Technologies Incorporated.
The report also offers strategic recommendations that might help the companies to track the various technological trends and products that will likely change the market dynamics.
(Image provided with ASDReports news release)