Space battery is a specially designed energy storage device used to power spacecraft, satellites, space probes and other spaceborne systems. It is engineered to operate reliably in extreme conditions of space, including vacuum, radiation and extreme temperatures. The primary purpose of a space battery is to provide consistent, long-duration electrical power to space missions, especially during periods when solar energy is unavailable, such as during eclipses or in deep space.
The space battery market consists of sales, by entities (organizations, sole traders, or partnerships), of space battery to aerospace companies, satellite manufacturers, space agencies, defense organizations and scientific research institutions involved in space missions. Space batteries are used across various mission timelines, from pre-launch testing to active deployment and end-of-life decommissioning.
The global space battery market was valued at $2,964.21 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 4.00%.
Increase In Demand For Space Exploration
The increase in demand for space exploration fueled the growth of the space battery in the historic period. The rising demand for space exploration is significantly boosting the need for advanced space batteries that can support longer missions and withstand harsh space environments. As agencies and private companies pursue lunar missions, Mars exploration and deep space probes, the need for reliable, high-energy-density power sources becomes critical. This drives innovation in battery technologies, including lightweight, radiation-resistant and long-duration energy storage solutions. For instance, according to 2023 survey by Pew Research, a US-based nonpartisan American think tank , 65% of Americans believe it is essential for National Aeronautics and Space Administration (NASA), an independent agency of the US federal government, to remain involved in space exploration, emphasizing strong public confidence in the agency's role. Only 32% of respondents think that private companies alone will ensure enough progress in advancing space exploration. Therefore, the increase in demand for space exploration drove the growth of the space battery market.
Deploying Modular Battery Systems For In-Orbit Validation And Operational Readiness
Major companies in the space battery market are developing cutting-edge modular energy storage systems tailored for orbital testing and operational flexibility in space environments. For instance, in July 2024, LANZO Batteries, a Spain-based company specializing in the development and manufacture of advanced battery packs for space energy storage, is set to launch its first high-performance modular battery into orbit in June 2025. The mission will be conducted in partnership with UARX Space, Spain-based aerospace company, utilizing their OSSIE Orbital Transfer Vehicle (OTV) platform as an in-orbit testbed. The mission will reach an altitude of 500-600 km and is planned to remain in orbit for at least six months, with possible extension up to two years depending on results. The battery, based on a lithium-ion S8 cell, will serve as backup power, activating five times a day (once every three orbits), allowing for comprehensive in-orbit performance evaluation.
The global space battery market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 23.85% of the total market in 2023.
Space Battery Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global space battery market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for space battery? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The space battery market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider space battery market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by animal type and by application.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Growth Analysis And Strategic Analysis Framework- Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
- Global Market Size And Growth- Global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by type, by animal type and by application in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies- Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Recent Developments- Information on recent developments in the market covered in the report.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for space battery providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Type: Nickel-Based Battery; Lithium-Based Battery; Silver-Zinc Battery; Other Types
- 2) By Platform: Communication; Earth Observation; Military Surveillance; Science; Navigation; Other Platforms
- 3) By Energy Type: Less Than 100 Wh/Kg; 100-150 Wh/Kg; More Than 150 Wh/Kg
- 4) By Orbit Type: Low Earth Orbit (LEO); Medium Earth Orbit (MEO); Geosynchronous Orbit (GEO); Other Orbit Types
- 5) By Application: Satellite; Launch Vehicle; Other Applications
- Companies Mentioned: Eagle-Picher Technologies LLC; GS Yuasa Corporation (GS Yuasa Lithium Power (GYLP)); Enersys Inc.; Saft Groupe S.A.; Mitsubishi Electric Corporation
- Countries: Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; space battery indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.