Space Battery Market Highlights
The growth of the Global Space Battery Market can be attributed to a rise in the use of lightweight and high-power density batteries for space applications and high demand for lithium-ion batteries for space applications.
Market players may avail of growth opportunities presented by the development of batteries with different chemical compositions to offer improved power density, a preference for rechargeable quantum space batteries, and the increased demand for solid-state batteries. However, stringent regulations and safety issues related to the use of lead-acid space batteries and charging issues related to rechargeable batteries are the challenges for the growth of the market.
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The key players in the global space battery market are Eagle-Picher Technologies LLC (US), GS Yuasa Corporation (Japan), EnerSys (US), Saft Groupe SA (France), Mitsubishi Electric Corporation (Japan), Arotech Corporation (US), and Bren-Tronics, Inc. (US).
The global market has been segmented on the basis of application, orbit type, material type, platform, energy type, and region. Based on application, the global space battery market has been divided into satellite, launch vehicle, and others. The satellite segment is expected to account for the largest share of the market and register the highest CAGR between 2019 and 2025. The rise in the number of communication satellites is expected to fuel the growth of the satellite segment during the forecast period.
By orbit type, the Global Space Battery Market has been divided into low earth orbit (LEO), medium earth orbit (MEO), and geostationary earth orbit (GEO). The low earth orbit (LEO) segment is expected to be the largest and fastest-growing segment between 2019 and 2025. The rise in the number of small communication satellites operated in the LEO is expected to fuel the growth of the segment during the forecast period.
In terms of material type, the market has been divided into nickel-based batteries, lithium-based battery, silver-zinc battery, and others. The lithium-based battery segment dominated the market in 2018. It is anticipated to register the highest CAGR during the forecast period due to the widening application scope for lithium-ion batteries in space; these batteries are cost-effective, reliable, and small in size.
On the basis of the platform, the market has been divided into communication, earth observation, military surveillance, science, navigation, and others. The communication segment dominated the market in 2018. It is also projected to register the highest CAGR during the forecast period due to a rise in the number of Internet users across the globe.
The energy type segments of the market are less than 100 Wh/kg, 100–150 Wh/kg, and more than 150 Wh/kg. The less than 100 Wh/kg segment dominated the market in 2018 and is projected to be the fastest-growing during the review period due to a rise in the demand for LEO and MEO satellites; less than 100Wh/kg batteries are largely used for these satellites.
By region, the global space battery market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America was a key region for this market in 2018. The presence of major battery providers such as Eagle-Picher Technologies LLC and Arotech Corporation is propelling the growth of the market in the region. However, the market in Asia-Pacific is expected to register the highest CAGR during the forecast period due to the rising demand for communication and LEO satellites.
The market values and forecast are derived using the MRFR research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
- Market sizing, forecast, and analysis: Detailed coverage of the market segment and sub-segments
- Regional/Country trends and forecast: Detailed analysis of the market in North America, Asia-Pacific, Europe, the Middle East & Africa, and Latin America, along with key countries in each region
- Market dynamics Intelligence: Market drivers, opportunities, trends, restraints, Porter’s five forces, supply chain, and value chain analysis
- Technology trends, regulatory landscape, and patent analysis outlook
- Competitive intelligence: Market share analysis, financial analysis, product benchmarking, and strategic developments including joint ventures, product launches, and mergers & acquisitions
- Regional attractiveness and related growth opportunities
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Table of Contents
1. Executive Summary
1.1. Market Attractiveness Analysis
1.1.1. Global Space Battery Market, by Application
1.1.2. Global Space Battery Market, by Orbit Type
1.1.3. Global Space Battery Market, by Material Type
1.1.4. Global Space Battery Market, by Platform
1.1.5. Global Space Battery Market, by Energy Type
1.1.6. Global Space Battery Market, by Region
2. Market Introduction
2.1. Market Definition
2.2. Scope of the Study
2.3. Market Structure
2.4. Key Buying Criteria
2.5. Market Factor Indicator Analysis
3. Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List of Assumptions
List of Tables
Table 1 Global Space Battery Market, by Region, 2017–2025
Table 2 North America: Space Battery Market, by Country, 2017–2025
Table 3 Europe: Space Battery Market, by Country, 2017–2025
Table 4 Asia-pacific: Space Battery Market, by Country, 2017–2025
Table 5 Middle East & Africa: Space Battery Market, by Country, 2017–2025
Table 6 Latin America: Space Battery Market, by Country, 2017–2025
Table 7 Global Space Battery Market Size, by Region, 2017–2025
List of Figures
Figure 1 Research Process of Mrfr
Figure 2 Top-down & Bottom-up Approaches
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
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