Space-Based Solar Power Market Growth, Size, Trends, Share, Demand, Revenue and Future Outlook

Space-Based Solar Power Market Size- By Solar Satellite Type, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

Space-Based Solar Power Market Size- By Solar Satellite Type, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

Published: Aug 2024 Report ID: POAE2480 Pages: 1 - 241 Formats*:     
Category : Power & Energy
Space-Based Solar Power Market Introduction and Overview

According to SPER Market Research, the Global Space-Based Solar Power Market is estimated to reach USD 1168.45 million by 2033 with a CAGR of 8.33%.

The report includes an in-depth analysis of the Global Space-Based Solar Power Market, including market size and trends, product mix, applications, and supplier analysis. SBSP, or space-based solar power, is the idea of harnessing solar energy in orbit and sending it wirelessly down to Earth to serve as a clean energy source. The main concept is to orbit solar panels around the planet so they can absorb sunlight without interference from the atmosphere. Then, they can use microwaves or lasers to beam the energy down to Earth. The fundamental idea is to put mirrors or solar panels in a geostationary orbit around the Earth, where they would be exposed to direct sunlight. These panels would gather energy, transform it into laser or microwave radiation, and send it to receiving stations on the surface of the planet.

  • May 2021: To support the OneSat satellite product line, Northrop Grumman Corporation and Airbus Defense and Space inked a deal for the development, design, and production of 24 ship sets of solar arrays. OneSat communication satellites in geosynchronous orbit will be powered by these solar panels.
  • January 2021: Boeing and NASA signed a contract for the delivery of solar arrays for the International Space Station (ISS). In 2021, work on installing these solar arrays will start. The orbiting laboratory will receive power from these new solar panels. Important Advances in the International Space-based Solar Power Sector
  • In December 2021: Northrop Grumman Corporation and the Air Force Research Laboratory (AFRL) tested essential gear for solar power tests conducted in orbit and created a sandwich tile-like satellite solar panel. This will probably launch
Space-Based Solar Power
Market Opportunities and Challenges

Opportunities- SBSP is a dependable and consistent source of clean energy since it can supply energy continuously irrespective of the climate or time of day. As long as the sun is visible from space, space-based solar power can produce an endless supply of energy. It is therefore a desirable alternative for supplying the world's expanding energy needs, lowering greenhouse gas emissions that fuel climate change, and decreasing our dependency on fossil fuels. Reusable rocket development is one example of how space technology has advanced, making equipment launches into orbit easier and more affordable. The need for Space-Based Solar Power is fueled by the ability of reusable rockets, like SpaceX and Falcon 9, to land and be repaired for further flights.

Challenges- Due to its high initial cost, space-based solar power expansion has hindered. Space-based solar power also presents a few other logistical difficulties. The costly installation, upkeep, and shipping of space-based solar power. The market growth for space-based solar power would therefore be severely hampered by the cost constraints. It is challenging to develop the technology required for effective energy transfer from space to Earth. Energy conversion, wireless power transmission, and solar panel technologies are all advanced. The usual process for transferring solar energy to microwave or laser beams and back to electricity is used to transfer energy from space to Earth. This transmission technique has to be safe and very efficient.

Space-Based Solar Power


Market Competitive Landscape
Competitive analysis by competitor is given in the space-based solar power market competitive landscape. A company's overview, financials, revenue, market potential, R&D investment, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance are among the details enclosed. Leading companies in the industry are Airborne, Zur Space Solar Power GmbH, Fralock Holdings, Japan Aerospace Exploration Agency, Northrop Grumman, Borrego Energy, LLC, Solaren Corporation, Spacetech GmbH, Space Canada and DHV Technology.

Scope of the Report:
 Report Metric Details
 Market size available for years 2020-2033
 Base year considered 2023
 Forecast period 2024-2033
 Segments coveredBy Solar Satellite Type, By Application.
 Regions covered
North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
 Companies Covered
Airborne, Zur Space Solar Power GmbH, Fralock Holdings, Japan Aerospace Exploration Agency, Northrop Grumman, Borrego Energy, LLC, Solaren Corporation, Spacetech GmbH, Space Canada, DHV Technology.
COVID-19 Impact on Global Space-Based Solar Power Market
Lockdowns and temporary restrictions on import, export, manufacturing, and processing activities have been implemented globally as a result of the COVID-19 pandemic, which has had an impact on numerous industries and countries. In addition, funds for research and development as well as space missions pertaining to space-based solar power production were put on hold. As a result, the market's growth slowed down in 2020's second, third, and fourth quarters. However, when COVID-19 immunization started in many economies throughout the world, it is expected that the global economy, manufacturing activities, and R&D facilities would revive by the second quarter of 2021, which is also when the market for space-based solar power is expected to rebound.

Key Target Audience:
  • Governments and Space Agencies
  • Energy Companies
  • Investors and Venture Capitalists
  • Technology and Aerospace Firms
  • Environmental and Sustainability Organizations
  • Academic and Research
Our in-depth analysis of the Space-Based Solar Power Market includes the following segments:
By Solar Satellite Type:
  • Microwave Transmitting Solar Satellite
  • Laser Transmitting Solar Satellite
  • By Application:
  • Electricity Generation
  • Space Applications
  • Key Topics Covered in the Report:
    • Global Space-Based Solar Power Market Size (FY’2024-FY’2033)
    • Overview of Global Space-Based Solar Power Market
    • Segmentation of Global Space-Based Solar Power Market by Solar Satellite Type (Microwave Transmitting Solar Satellite, Laser Transmitting Solar Satellite)
    • Segmentation of Global Space-Based Solar Power Market by Application (Electricity Generation, Space Applications) 
    • Statistical Snap of Global Space-Based Solar Power Market
    • Expansion Analysis of Global Space-Based Solar Power Market
    • Problems and Obstacles in Global Space-Based Solar Power Market
    • Competitive Landscape in the Global Space-Based Solar Power Market
    • Impact of COVID-19 and Demonetization on Global Space-Based Solar Power Market
    • Details on Current Investment in Global Space-Based Solar Power Market
    • Competitive Analysis of Global Space-Based Solar Power Market
    • Prominent Players in the Global Space-Based Solar Power Market
    • SWOT Analysis of Global Space-Based Solar Power Market
    • Global Space-Based Solar Power Market Future Outlook and Projections (FY’2024-FY’2033)
    • Recommendations from Analyst 
    1. Introduction
    1.1. Scope of the report 
    1.2. Market segment analysis

    2. Research Methodology
    2.1. Research data source
    2.1.1. Secondary Data
    2.1.2. Primary Data
    2.1.3. SPER’s internal database
    2.1.4. Premium insight from KOL’s
    2.2. Market size estimation
    2.2.1. Top-down and Bottom-up approach
    2.3. Data triangulation

    3. Executive Summary

    4. Market Dynamics
    4.1. Driver, Restraint, Opportunity and Challenges analysis
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunities
    4.1.4. Challenges
    4.2. COVID-19 Impacts of the Global Space-Based Solar Power Market.

    5. Market variable and outlook
    5.1. SWOT Analysis
    5.1.1. Strengths
    5.1.2. Weaknesses
    5.1.3. Opportunities
    5.1.4. Threats
    5.2. PESTEL Analysis
    5.2.1. Political Landscape
    5.2.2. Economic Landscape
    5.2.3. Social Landscape
    5.2.4. Technological Landscape
    5.2.5. Environmental Landscape
    5.2.6. Legal Landscape
    5.3. PORTER’s Five Forces 
    5.3.1. Bargaining power of suppliers
    5.3.2. Bargaining power of buyers
    5.3.3. Threat of Substitute
    5.3.4. Threat of new entrant
    5.3.5. Competitive rivalry
    5.4. Heat Map Analysis

    6. Competitive Landscape
    6.1. Global Space-Based Solar Power Market Manufacturing Base Distribution, Sales Area, Product Type 
    6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Space-Based Solar Power Market

    7. Global Space-Based Solar Power Market, By Solar Satellite Type (USD Million) 2020-2033
    7.1. Global Space-Based Solar Power Market Size, Share and Forecast, By Solar Satellite Type, 2020-2026
    7.2. Global Space-Based Solar Power Market Size, Share and Forecast, By Solar Satellite Type, 2027-2033
    7.3. Microwave Transmitting Solar Satellite
    7.4. Laser Transmitting Solar Satellite

    8. Global Space-Based Solar Power Market, By Application (USD Million) 2020-2033
    8.1. Global Space-Based Solar Power Market Size, Share and Forecast, By Application, 2020-2026
    8.2. Global Space-Based Solar Power Market Size, Share and Forecast, By Application, 2027-2033
    8.3. Electricity Generation 
    8.4. Space Applications 

    9. Global Space-Based Solar Power Market Forecast, 2020-2033 (USD Million)
    9.1. Global Space-Based Solar Power Market Size and Market Share

    10. Global Space-Based Solar Power Market, By Region, 2020-2033 (USD Million)
    10.1. Global Space-Based Solar Power Market Size and Market Share By Region (2020-2026)
    10.2. Global Space-Based Solar Power Market Size and Market Share By Region (2027-2033) 
    10.3. Asia-Pacific
    10.3.1. Australia
    10.3.2. China
    10.3.3. India
    10.3.4. Japan
    10.3.5. South Korea
    10.3.6. Rest of Asia-Pacific
    10.4. Europe
    10.4.1. France
    10.4.2. Germany
    10.4.3. Italy
    10.4.4. Spain
    10.4.5. United Kingdom
    10.4.6. Rest of Europe
    10.5. Middle East and Africa
    10.5.1. Kingdom of Saudi Arabia 
    10.5.2. United Arab Emirates
    10.5.3. Qatar
    10.5.4. South Africa
    10.5.5. Egypt
    10.5.6. Morocco
    10.5.7. Nigeria
    10.5.8. Rest of Middle-East and Africa
    10.6. North America
    10.6.1. Canada
    10.6.2. Mexico
    10.6.3. United States
    10.7. Latin America
    10.7.1. Argentina
    10.7.2. Brazil
    10.7.3. Rest of Latin America 

    11. Company Profile
    11.1. AIRBORNE
    11.1.1. Company details
    11.1.2. Financial outlook
    11.1.3. Product summary 
    11.1.4. Recent developments
    11.2. BORREGO ENERGY
    11.2.1. Company details
    11.2.2. Financial outlook
    11.2.3. Product summary 
    11.2.4. Recent developments
    11.3. DHV TECHNOLOGY
    11.3.1. Company details
    11.3.2. Financial outlook
    11.3.3. Product summary 
    11.3.4. Recent developments
    11.4. FRALOCK HOLDINGS
    11.4.1. Company details
    11.4.2. Financial outlook
    11.4.3. Product summary 
    11.4.4. Recent developments
    11.5. JAPAN AEROSPACE EXPLORATION AGENCY
    11.5.1. Company details
    11.5.2. Financial outlook
    11.5.3. Product summary 
    11.5.4. Recent developments
    11.6. NORTHROP GRUMMAN
    11.6.1. Company details
    11.6.2. Financial outlook
    11.6.3. Product summary 
    11.6.4. Recent developments
    11.7. SOLAREN CORPORATION
    11.7.1. Company details
    11.7.2. Financial outlook
    11.7.3. Product summary 
    11.7.4. Recent developments
    11.8. SPACE CANADA
    11.8.1. Company details
    11.8.2. Financial outlook
    11.8.3. Product summary 
    11.8.4. Recent developments
    11.9. ZUR SPACE SOLAR POWER GMBH Z
    11.9.1. Company details
    11.9.2. Financial outlook
    11.9.3. Product summary 
    11.9.4. Recent developments
    11.10. Others 
     
    12. Conclusion

    13. List of Abbreviations

    14. Reference Links

    SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

    The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings.  The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

    SPER-Methodology-1

    SPER-Methodology-2

    SPER-Methodology-3


    Frequently Asked Questions About This Report
    Space-Based Solar Power Market is projected to reach USD 1168.45 million by 2033, growing at a CAGR of 8.33% during the forecast period.
    Space-Based Solar Power Market grew in Market size from 2024. The Market is expected to reach USD 1168.45 million by 2033, at a CAGR of 8.33% during the forecast period.
    Space-Based Solar Power Market CAGR of 8.33% during the forecast period.
    Space-Based Solar Power Market size is USD 1168.45 million from 2024 to 2033.
    Space-Based Solar Power Market is covered By Solar Satellite Type, By Application.
    The North America is anticipated to have the highest Market share in the Space-Based Solar Power Market.
    The key players in the Market include Companies Covered Airborne, Zur Space Solar Power GmbH, Fralock Holdings, Japan Aerospace Exploration Agency, Northrop Grumman, Borrego Energy, LLC, Solaren Corporation, Spacetech GmbH, Space Canada, DHV Technology.
    SBSP, or space-based solar power, is the idea of harnessing solar energy in orbit and sending it wirelessly down to Earth to serve as a clean energy source.
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