
The Global Space-based Solar Power Market was worth USD 521.02 Million in 2023. As such, the forecast is that the market is expected to reach USD 4352.69 Million by 2032 with a CAGR of 26.6 % from 2024 to 2032.
Space-based solar power (SBSP) is an innovative technology that aims to harness solar energy in space and transmit it to Earth. This concept involves placing solar panels in orbit around the Earth, where they can collect solar energy uninterrupted by atmospheric or nocturnal conditions. The collected energy is then converted into microwaves or lasers and transmitted to a receiving station on Earth, where it is converted back into electricity. This approach promises a continuous and reliable power source, overcoming the limitations of terrestrial solar energy, such as variability and weather dependence.
The market for space-based solar power is in its nascent stage but is gaining traction due to advancements in space technology and increasing interest from governments and private entities. Major space agencies, like NASA and ESA, are exploring SBSP's potential, while private companies are developing prototype systems and conducting feasibility studies. Investment in this sector is driven by the desire for sustainable and reliable energy sources to meet the growing global energy demand and to support climate goals.Despite its promise, the space-based solar power market faces significant challenges, including high costs of space launch and maintenance, technological hurdles in energy transmission, and regulatory issues. However, ongoing research and technological progress are gradually addressing these obstacles. As these challenges are overcome, SBSP could play a pivotal role in the future energy landscape, providing a game-changing solution to global energy needs.
Top Key Players Involved Are:
"SpaceX (USA), Boeing (USA), Lockheed Martin (USA), Northrop Grumman (USA), Airbus (France), Thales Alenia Space (France), DLR (Germany), MDA (Canada), Blue Origin (USA), Orbital ATK (USA), NASA (USA), Japan Aerospace Exploration Agency (JAXA) (Japan), NEC (Japan), Mitsubishi Electric (Japan), Surrey Satellite Technology (UK), Satellite Services Inc. (USA), Planet Labs (USA), AstroScale (Japan), Rocket Lab (USA), Maxar Technologies (USA), Inmarsat (UK), SES S.A. (Luxembourg), Eutelsat (France), Intelsat (Luxembourg), Boeing Defence, Space & Security (USA), Raytheon Technologies (USA), China Aerospace Corporation (China), China Great Wall Industry Corporation (China), and Sino Satellite Communications (China), and Other Active Players."
The Global Space-based Solar Power Market is Segmented into Beam Type, Application, End Users, and Region.
Space-based Solar Power Market |
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Base Year: |
2023 |
Forecast Period: |
2024- 2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 521.02 Mn. |
Forecast Period 2024-32 CAGR: |
12.5% |
Market Size in 2032: |
USD 101.66 Mn. |
Segments Covered: |
By Beam Type |
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By Application |
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By End Users |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter's Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Space-based Solar Power Market by Beam Type
4.1 Space-based Solar Power Market Snapshot and Growth Engine
4.2 Space-based Solar Power Market Overview
4.3 Microwave Power Transmission
4.3.1 Introduction and Market Overview
4.3.2
The forecast period in the Global Space-based Solar Power Market research report is 2024- 2032.
SpaceX (USA), Boeing (USA), Lockheed Martin (USA), Northrop Grumman (USA), Airbus (France), Thales Alenia Space (France), DLR (Germany), MDA (Canada), Blue Origin (USA), Orbital ATK (USA), NASA (USA), Japan Aerospace Exploration Agency (JAXA) (Japan), NEC (Japan), Mitsubishi Electric (Japan), Surrey Satellite Technology (UK), Satellite Services Inc. (USA), Planet Labs (USA), AstroScale (Japan), Rocket Lab (USA), Maxar Technologies (USA), Inmarsat (UK), SES S.A. (Luxembourg), Eutelsat (France), Intelsat (Luxembourg), Boeing Defence, Space & Security (USA), Raytheon Technologies (USA), China Aerospace Corporation (China), China Great Wall Industry Corporation (China), and Sino Satellite Communications (China), and Other Active Players.
The Space-based Solar Power Market is Segmented into Beam Type, Application, End Users, and Region. By Beam Type, the market is categorized into (Microwave Power Transmission and Laser Beam Power Transmission), By Application, the market is categorized into (Terrestrial and Space). By End Users, the market is categorized into (Government & Defense and Commercial). By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
Space-based solar power (SBSP) is an innovative technology that aims to harness solar energy in space and transmit it to Earth. This concept involves placing solar panels in orbit around the Earth, where they can collect solar energy uninterrupted by atmospheric or nocturnal conditions. The collected energy is then converted into microwaves or lasers and transmitted to a receiving station on Earth, where it is converted back into electricity. This approach promises a continuous and reliable power source, overcoming the limitations of terrestrial solar energy, such as variability and weather dependence. The market for space-based solar power is in its nascent stage but is gaining traction due to advancements in space technology and increasing interest from governments and private entities.
The Global Space-based Solar Power Market was worth USD 521.02 Million in 2023. As such, the forecast is that the market is expected to reach USD 4352.69 Million by 2032 with a CAGR of 26.6 % from 2024 to 2032.