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
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.
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 covered | By Solar Satellite Type, By Application.
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
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| 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.
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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 SatelliteLaser Transmitting Solar Satellite |
| By Application: | Electricity GenerationSpace 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