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Space-Based Solar Power Market Share

Report ID: GMI12753
Published Date: Dec 2024
Report Format: PDF

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Space-Based Solar Power Market Share

Competition in the Space-Based Solar Power (SBSP) market continues to grow as major players like Northrop Grumman, JAXA (Japan Aerospace Exploration Agency), and Airbus work on new ways to send energy from space to Earth. These companies focus on improving satellite designs, developing better wireless power transmission methods, and making space systems smaller. They work to solve technical problems, get funding from governments and private investors, and show that SBSP can work in real-world conditions. Companies form partnerships and work across borders to gain an edge in this new market.

Space-Based Solar Power Market Companies

Major players operating in the space-based solar power industry are:

Airbus
Celestia Energy
China Academy of Space Technology
Emrod
Japan Aerospace Exploration Agency
Metasat
Northrop Grumman
Sirin Orbital Systems
SpaceTech
Thales Alenia Space

Authors: Suraj Gujar, Partha Paul

Frequently Asked Questions (FAQ) :

The global market size for space-based solar power was valued at USD 3.1 billion in 2024 and is projected to reach USD 6.6 billion by 2034, driven by a CAGR of 7.9% during the forecast period, supported by advancements in space infrastructure and renewable energy goals.

The microwave power transmission segment held over 70% of the market share in 2024 and is expected to grow significantly by 2034, driven by advancements in microwave power conversion technology and miniaturization of components.

The North America market is expected to exceed USD 2.5 billion by 2034, driven by the United States' focus on renewable energy development and expanding space exploration capabilities.

Major players in the industry include Airbus, Celestia Energy, China Academy of Space Technology, Emrod, Japan Aerospace Exploration Agency, Metasat, Northrop Grumman, Sirin Orbital Systems, SpaceTech, and Thales Alenia Space.