Space industry optimization the growth of the global Space Battery market at a CAGR of 4.7% during the forecast period 2023 to 2032

Market Research Future (MRFR) has published on the “Global Space Battery Market”.

The Space Battery market is estimated to register a CAGR of 4.7% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Space Battery market Saft Groupe SA, Eagle-Picher Technologies LLC, GS Yuasa Corporation, EnerSys, Mitsubishi Electric Corporation, Arotech Corporation, Redwire Corporation, Space vector Organization¸ Hitachi Zosen, Lyten, Inc., AAC Clyde Space, Berlin Space Technologies GmbH, O.C.E. Technology

Space Battery Market Highlights

The global Space Battery market is accounted for to register a CAGR of 4.7% during the forecast period and is estimated to reach USD 427.13 million by 2032.

Governments are strengthening their defense capabilities due to a number of factors, including current crises in the Middle East and Africa, long-standing tensions, territorial disputes among Asia-Pacific countries, and an emphasis on counterterrorism efforts. In addition, within the past ten years, warfare has undergone a significant change in character. The focus is changing from being on weapons to being on technology. Therefore, higher military spending immediately raises the demand for cutting-edge defense technologies, such as satellites, weapons, and airplanes.

Satellites are currently used by military forces and defense organizations all over the world. Satellites can carry payloads that provide voice or data communication as well as optical imagery. These characteristics provide numerous advantages in communication, intelligence, surveillance, and reconnaissance. Furthermore, the number of satellites launched in recent years has increased. Additionally, the US Space Force is collaborating with the UK on military space projects and exploring new areas of collaboration, such as small satellites, space deterrence, and reducing on-orbit space debris, satellite communications, and launch. As a result, rising defense spending and frequent satellite launches for military applications are expected to drive the growth of the global space battery market during the forecast period.

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Segment Analysis

The global Space Battery market has been segmented based on orbit type, material, platform, energy type, function, and application.

Based on orbit type, the market is segmented into Below Brake Pedal Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geosynchronous Orbit (GEO), and Others. The Low Earth Orbit (LEO) segment was attributed to holding the largest market share in 2022 with a market share of ~73.3% revenue as estimated by MRFR analysts.

Based on material, the global Space Battery market has been segmented into Nickel-Based Battery, Lithium-Based Battery, Silver-Zinc Battery, and Others. The Lithium-Based Battery segment was expected to hold the largest market share in 2022.

Based on the platform, the market is segmented into Communication, Earth Observation, Military Surveillance, Science, Navigation, and Others. The communication segment is projected to have the largest market share during the forecast period.

Based on the energy type, the market is segmented into Less than 100 Wh/kg, 100–150 Wh/kg, and more than 150 Wh/kg. 100–150 Wh/kg segment is projected to have the largest market share during the forecast period.

Based on the function, the market is segmented into Primary Battery and Secondary Battery. Secondary battery is projected to have the largest market share during the forecast period.

Based on the application, the market is segmented into Satellite, Launch Vehicle, and Others. The Satellite segment is projected to have the largest market share during the forecast period.

Regional Analysis

The global Space Battery market, based on region, has been divided into North America, Europe, Asia-Pacific, and Middle East & Africa, and Latin America. North America consists of US and Canada. The Europe Space Battery market comprises of U UK, Germany, France, Italy, Spain, Poland, Netherlands, Denmark, Greece, Czech Republic, Sweden, and Rest of Europe. The Space Battery market in Asia-Pacific has been segmented into China, Japan, India, South Korea, and the rest of Asia-Pacific. The Middle East and Africa Space Battery market comprises of Saudi Arabia, UAE, Turkey, Rest of Middle East and Africa.  The Latin America Space Battery market comprises of Brazil and Rest of South America.  

In North America, the increasing R&D activities by NASA and the growing military spending for surveillance mission drives the small satellite market across the region. For instance, in July 2020, the NASA CubeSat launch initiative deployed 109th CubeSat (miniature satellite) from the international space station. Such growing demand and product launches in the small satellite market boost the demand for space batteries in the North America region.

In Europe, The rising demand for microsatellites among commercial organizations and defense forces in the space battery market in the coming years. The decrease in the cost of electronic components has aided the development of small satellites, particularly in the commercial sector in Europe. Budget constraints have also prompted several governments and manufacturers to choose low-cost small satellite platforms that bolster the demand for space batteries across Europe.

The Asia-Pacific region is expected to grow at the fastest rate due to several factors such as the rise of India and China in the space sector, investments in small satellite projects, and an increase in the number of start-ups involved in space activities across the region. Increasing emerging Asian countries' space budgets in order to develop their own independent space projects will also be critical in determining the future dynamics of the space industry. Thus, these lead to a rise in the space battery market in the Asia-Pacific region.

In Middle East and Africa, Saudi Arabia and Dubai are leaders in the aerospace industry and have a huge growth opportunity in this market. Saudi Arabia is well-positioned to benefit from falling rocket launch costs, technological advancements, and growing public interest in space exploration. The UAE became the first Arab country to join the International Space Exploration Coordination Group in October 2014. Turkey is increasing its capabilities and investments in the country's national space program to complete large-scale projects and launch a new rocket into orbit in the near future. Additionally, in collaboration with one of the international launch companies.

Despite the slow-growing economy in the Latin America and the severe impact of the COVID-19 pandemic, countries in Latin America are planning to modernize their space activities to strengthen their earth's observation and communications. This is expected to drive the space battery market in South America.

Key Findings of the Study

• The global Space Battery market is expected to reach USD 427.13 million by 2032, at a CAGR of 4.7% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market, as it has the region’s large manufacturing and logistics industries.


• Based on material, the Lithium-Based Battery segment was attributed to holding the largest market in 2022, with an approximate market share of 76.3%.


• Saft Groupe SA, Eagle-Picher Technologies LLC, GS Yuasa Corporation, EnerSys, Mitsubishi Electric Corporation, Arotech Corporation, Redwire Corporation, Space vector Organization¸ Hitachi Zosen, Lyten, Inc., AAC Clyde Space, Berlin Space Technologies GmbH, O.C.E. Technology.