As per this study the Global Space Battery Market was valued USD 1824 MN (by revenue) in 2021 and is anticipated to reach USD 2405.01 MN by 2028 with a CAGR of 4.03%.
Space battery refers to the battery used on spacecraft to store the power. Space batteries could be primary or secondary batteries depending upon the duration of tasks. A primary battery contains all the usable energy and can be discharged, whereas secondary batteries can be reused or recharged from some other energy sources such as solar panels. Batteries such as nickel-based, lithium-based, silver-zinc, and others are widely used in spacecraft and are able to withstand the acceleration of launch, vibrations, and can be operated over a wide range of temperature.
The growing usage of lithium batteries in spacecraft because of varying temperature withstanding abilities is augmenting the market growth of space battery market. Also, technological advancements and R&D on space batteries for better efficiency are further expected to boost the market over the forecast period.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of space battery.
The broad space battery market has been sub-grouped into type and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
- Nickel-based Battery
- Lithium-based Battery
- Silver-Zinc Battery
- Launch Vehicle
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for space battery in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Space Battery Market Size, Share Analysis Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the space battery market include Eagle-Picher Technologies, Enersys, GS Yuasa, Saft Groupe, and VARTA AG. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.