Space Battery Market Analysis

Global Space Battery Market Overview

Space Battery Market Size was valued at USD 271.11 million in 2022. The Space Battery market industry is projected to grow from USD 289.03 million in 2023 to USD 427.13 million by 2032, exhibiting a compound annual growth rate (CAGR) of 4.7% during the forecast period (2023 - 2032). Space batteries are used for emergency systems and power backup, starting the engine and auxiliary power units, and flight preparation in the aerospace & defense industry. Space batteries play a very important role as they supply power to the aircraft when the power fails. Batteries in the aircraft are durable, reliable, have low maintenance, low cost of ownership, low weight, and extended life.

Analyst Comment “Increase in the number of satellite launches, growing demand for small satellites, increase in demand for earth observation and communications, and significant investments by venture capital firms and the government in the space industry are the key market drivers boosting the growth of the Space Battery market.”

FIGURE 1: SPACE BATTERY MARKET SIZE 2018-2032 (USD MILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Space Battery Market Trends

• Internet of things (IOT) and improving 5G network

IoT can be used to increase operational efficiency in space industry industrial facilities. This is because manufacturers can promptly rectify inefficiencies because to the enhanced insights that the Internet of Things provides. For instance, smart meters with Internet of Things capability can send data via satellite about how much energy is used. Significant cost savings and ecologically friendly operations could arise from this. IoT data analytics evaluates usage and makes recommendations for energy-saving tactics that could result in a 20% reduction in energy use.

5G promises to increase device connection while enhancing network efficiency, cost-effectiveness, energy economy, and performance. To enable new revenue-generating services and expand into vertical areas like healthcare, manufacturing, transportation, public services, and the automotive industry, advanced capabilities are needed in addition to meeting the increasing amounts of mobile data traffic. Demand for 5G capacity frequently outpaces infrastructure improvements, especially in remote and densely populated areas.

Space Battery Market Component Segment Insights:

Space Battery Orbit Type Insights

Based on orbit type, the Space Battery Market segmentation includes Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geosynchronous Orbit (GEO), and Others. The Low Earth Orbit (LEO) held the majority share in 2022, contributing around ~73.3% to the market revenue. LEO is the closest to Earth, just a few hundred km up. Since LEO must defy Earth's gravity and cover a vast portion of the planet, they spin quickly. Along with the International Space Station (ISS) and the Hubble Space Telescope, LEO is utilized for satellite systems for communication and remote sensing. An object that orbits the Earth at a lower altitude than GEO satellites is known as a low-Earth orbit (LEO) satellite. Typically, LEO satellites are electrical devices. Satellites in low-Earth orbit (LEO) travel 200–2,000 km above the planet. LEO satellites are frequently employed in communications, imaging applications, military reconnaissance, and espionage. With the majority of man-made objects in low Earth orbit (LEO)

FIGURE 2: SPACE BATTERY MARKET, BY ORBIT TYPE, 2022 VS 2032 (USD MILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Space Battery Material Insights

Based on material, the Space Battery Market segmentation includes Nickel-Based Battery, Lithium-Based Battery, Silver-Zinc Battery, and Others. The Lithium-Based Battery held the majority share in 2022. Li-Ion batteries have become the preferred choice because of their high energy & power density, reliability, robustness, and long cycle life. Lithium-based batteries are popular due to their high use in PDAs, laptops, cell phones, and iPods. Lithium-ion batteries, which employ chemicals to store energy, are used in Space Technology 5's small-sat. A control circuit has each Li-ion battery cell to restrict voltage peaks during charging and prevent voltage from dropping low during discharge. The maximum charge and discharge currents are limited by the control circuits. Generally, these batteries are much lighter than other types of rechargeable batteries. The electrodes of lithium-ion batteries are made of lightweight carbon and lithium. Lithium is a highly reactive element, which means a lot of energy can be stored in its atomic bonds. A lithium-ion battery stores 150 watt-hours of electricity in 1 kilogram of battery.

Space Battery Platform Insights

Based on platform, the Space Battery Market segmentation includes Communication, Earth Observation, Military Surveillance, Science, Navigation, and Others. The communication cars held the majority share in 2022. The communication platform is an important part of a spacecraft, enabling spacecraft to transmit data to Earth, receive commands from Earth, and relay information to one another. The main three functions of communications are receiving commands from Earth, transmitting data down to Earth, and transmitting or receiving information from another satellite. There are two types of communication systems: radiofrequency and free-space optical, also known as laser communications.

Space Battery Energy Type Insights

Based on energy type, the Space Battery Market segmentation includes Less than 100 Wh/kg, 100–150 Wh/kg, and more than 150 Wh/kg. The 100–150 Wh/kg held the majority share in 2022. Sodium/nickel-chloride batteries have specific energy ranging from 80 to 120 Wh/kg. This energy type is suitable for power tools, medical devices, and electric powertrains. Li-manganese (LMO) is batteries specific energy ranging from 100–150Wh/kg. Li-phosphate (LFP) batteries' specific energy ranges from 90–120Wh/kg.

Space Battery Function Insights

Based on function, the Space Battery Market segmentation includes Primary Battery and Secondary Battery. The secondary battery held the majority share in 2022. Secondary batteries are often called rechargeable or reversible batteries as an electrical supply easily charges them. These batteries are used more than once, and the cost is high. These batteries' design is more complex and heavier. Secondary batteries are used in mobile telephones, power a personal digital assistant or notebook computer, and start a car. They have become a part of daily life. Li-ion batteries, and lead-acid batteries, are the most known secondary batteries. Secondary batteries can be recharged from solar panels or radioisotope-based power (RTG) and deliver power when the space vehicle is out of direct sunlight. Batteries generate electrical current from a chemical reaction.

Space Battery application Insights

Based on application, the Space Battery Market segmentation includes Satellite, Launch Vehicle, and Others. The satellite held the majority share in 2022. A planet or device that circles a star or planet is called a satellite. For instance, because Earth orbits the Sun, it is a satellite. Because it circles the Earth, the moon is also a satellite. Two examples of natural satellites are the moon and Earth. Thousands of artificial or man-made satellites circle the planet. Taking images of the Earth, other planets, dark matter, black holes, the Sun, and distant galaxies to aid meteorologists in their forecasting and weather monitoring. These images all contribute to scientists' understanding of the solar system and the cosmos. The other type of satellite is used for communications, such as phone calls and beaming TV signals around the world. Around 20 satellites make up the GPS (Global Positioning System). Satellites can help determine the exact location if you have a GPS receiver. Satellites come in many sizes and shapes. An antenna and a power source are two parts in common. The antenna sends and receives information from Earth. The power sources such as solar panels or batteries. Solar panels make power by transforming sunlight into electricity. Many NASA satellites have scientific sensors and cameras. These instruments point toward Earth to collect information about its air, land, and water.

Space Battery Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East and Africa, Latin America. The North America Space Battery market accounted for ~49.9% in 2022. 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. To improve the quality and efficacy of satellite communication, the US government is actively investing in innovative small satellite technology. The growing investment in small satellite equipment to improve the armed forces' defence and surveillance capabilities, as well as the modernization of existing communication in military platforms, critical infrastructure, and law enforcement agencies that use small satellite systems, are expected to drive the space battery market in the US. The Canadian Space Agency, Environment and Climate Change Canada, and Natural Resources Canada led a whole-of-government effort to seek input from industry and academia to develop this long-term satellite Earth observation strategy.

FIGURE 3: SPACE BATTERY MARKET SIZE BY REGION 2022 VS 2032 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Further, the major countries studied in the market report are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, Australia, and South Korea.

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 UK is the first country in Europe to launch small satellites into orbit, attracting innovative businesses from around the world, accelerating the development of new technologies, and creating hundreds of high-skilled jobs across the country." Smallsats and CubeSats, which have much shorter lifespans than traditional large geostationary satellites, are driving a new market for cheaper launches to lower orbits, allowing new players to enter the market, thereby improving the demand for space batteries in the region. The country is an important economy in the world. Germany has a highly skilled and educated working class. The country is a major exporter of cars and vehicle parts which employs a huge portion of the country's population.

Space Battery Key Market Players& Competitive Insights

With a strong presence across different verticals and geographies, the Space Battery market is highly competitive and dominated by established, pure-play vendors. Over 20 vendors cater to this market, and they continually innovate their solutions to meet the evolving needs of businesses by adopting new technologies. These vendors have a robust geographic footprint and partner ecosystem to cater to diverse customer segments. The Space Battery market is highly competitive, with many vendors offering similar products and services.

The major players in the market include Saft Groupe SA, Eagle-Picher Technologies LLC, GS Yuasa Corporation, EnerSys, Mitsubishi Electric Corporation, and Arotech Corporation Industries Corporation constantly takes on new challenges to ensure the stability of its management foundation by extending its reach into business fields.  

The Space Battery Market is consolidated, increasing competition, acquisitions, mergers, and other strategic market developments and decisions to improve operational effectiveness.

Key Companies in the Space Battery market include.

• 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


• C.E. Technology

Space Battery Industry Developments

• In November 2021, Redwire Corporation has announced that it has acquired Techshot, Inc., a leader in biotechnology in microgravity, bioprinting, and on-orbit manufacturing needed for commercial space-based research and development. This acquisition is in-line with Redwire's growth strategy of leveraging strategic investments to scale in-space manufacturing in low-Earth orbit (LEO), which will directly impact the long-term viability of human spaceflight and deliver optimized products for Earth-based industries. Techshot is a value-adding acquisition that will add to Redwire's disruptive innovation by providing a complementary suite of products.


• In March 2021, Hitachi Zosen Corporation unveiled a solid-state battery, one of the highest capacities of 1000mAh in the industry.

Space Battery Market Segmentation:

Global Space Battery Orbit Type Outlook

• Low Earth Orbit (LEO)


• Medium Earth Orbit (MEO)


• Geosynchronous Orbit (GEO)


• Others

Global Space Battery Material Outlook

• Nickel-Based Battery


• Lithium-Based Battery


• Silver-Zinc Battery


• Others

Global Space Battery Platform Outlook

• Communication


• Earth Observation


• Military Surveillance


• Science


• Navigation


• Others

Global Space Battery Energy Type Outlook

• Less than 100 Wh/kg


• 100–150 Wh/kg


• More than 150 Wh/kg

Global Space Battery Function Outlook

• Primary Battery


• Secondary Battery

Global Space Battery Application Outlook

• Satellite


• Launch Vehicle


• Others

Global Space Battery Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • UK
  
  
  • Germany
  
  
  • France
  
  
  • Italy
  
  
  • Spain
  
  
  • Poland
  
  
  • Netherlands
  
  
  • Denmark
  
  
  • Greece
  
  
  • Czech Republic
  
  
  • Sweden
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • south Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Middle East and Africa
  
  
  
  • Saudi Arabia
  
  
  • UAE
  
  
  • Turkey
  
  
  • Rest of Middle East and Africa
  
  
  
  


• South and Center America
  
  
  
  • Brazil
  
  
  • Rest of South America