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Global Space Battery Market 2012-2017 & 2018-2023 - Analysis by Platform, Platform Mission, Function, Battery, Specific Energy, and Region - ResearchAndMarkets.com

March 6, 2019

DUBLIN--(BUSINESS WIRE)--Mar 6, 2019--The “Space Battery Market by Platform Type, by Function Type, by Material Type, by Platform Mission Type, by Specific Energy Type and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023” report has been added to ResearchAndMarkets.com’s offering.

This report studies the space battery market over the trend period of 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The global space battery market is projected to grow at a healthy rate over the next five years to reach US$ 146.1 million in 2023.

Organic growth of the satellite industry is the primary driver of the sustainable demand for batteries in the spacecraft. One Web, a satellite constellation, has projected to launch 648 satellites in the future, which is expected to start at 2018. Space X, another satellite constellation, is working towards high-speed internet facilities across the world by deploying dedicated satellites.

The company plans to launch 4,425 satellites by 2024 with an aim of deploying most of them by 2019. The launch is expected to provide super-fast internet facilities with reduced latency as compared to existing broadband services. Such developments are likely to create high-growth opportunities for both existing as well as new players in the space battery market.

The projected increase in the global government expenditures in space is further propelling the growth of the space battery market. Also, the space industry enters a new investment cycle after some years of sluggish growth. Increase in space budgets of governments will be mainly due to increasing civil space programs and high focus on human space flight. Increasing space budget of emerging Asian countries with an aim to have their own independent space programs will also play a crucial role in setting the dynamics of the future space industry.

Growing global private sector companies in the space community are acting as a catalyst towards the growth of the space battery market. There were over 150 new firms identified which increased investment in the space-based activities. Space X, One Web Satellites LLC, Planet Labs Inc., Kymeta Corporation, and Spire are some of the major private players in the industry.

Technological advancement in space batteries is another factor that is boosting the demand for advanced batteries in the industry. Existing market players are striving hard for continuous innovation, which has resulted in the development of batteries with a specific energy of 500 Wh/kg. The futuristic outlook of space battery technology would seek ways to reduce associated disadvantages of existing batteries like poor performance of lithium-ion batteries in extremely low temperatures and a phenomenon associated with it called Thermal Runaway, which is caused by overcharging.

Satellite segment is likely to remain the growth engine of the market during the forecast period. Increasing participation of private space companies, such as Space X, OneWeb Satellites, and Sky and Space Global Ltd, and an expected launch of more than 4,000 satellites during 2018-2023 would propel the demand for batteries in the satellite segment in years to come.

Based on the function type, the space battery market is segmented into Primary Batteries, Secondary Batteries, and Reserve Batteries. Secondary batteries segment currently dominates the market and is likely to maintain its growth momentum over the next five years as well, driven by a continuous innovation towards lithium-ion chemistry. Secondary battery has significant applications in satellite platforms as it is the only source of power for the latter during eclipses. Thus, increase in a number of satellites being launched into space is another significant driver of growth of this segment. Both primary lithium and secondary Lithium-ion are poised to remain the most popular batteries in their respective segments.

Based on the battery type, the space battery market is segmented into Lithium-based Battery, Nickel-based Battery, Silver-Zinc Battery, and Others. Others exclusively consist of Reserve (Thermal) batteries. The lithium-based battery is likely to remain the most preferred choice of the space industry during the forecast period, driven by innovation towards the production of highly reliable, high performing, and cost-effective technology by reducing SWaP of the battery. It is likely to exhibit the highest growth rate during the forecast period as well.

Based on the platform mission type, space battery used in platform deployed for military surveillance is the most dominant segment, driven by a rising demand to monitor and to combat the increasing terrorist activities and importance of surveillance system in the fourth-generation warfare. Navigation, another promising segment, is likely to grow at the highest rate in the market during the forecast period, driven by an increasing consumption of global navigation system like GPS, especially in emerging Asian countries.

Based on regions, North America is projected to remain the largest market during the forecast period, driven by the presence of major spacecraft OEMs and tier players. The USA is the growth engine of the region’s market and its space budget is the highest across the world, which is almost six times of the country with second highest space budget. Also, NASA is the largest space agency in the world, which is largely involved in space-related activities located in the USA. It also has the presence of major spacecraft OEMs, such as Orbital ATK, Lockheed Martin, and Honeywell International.

Europe and Asia-Pacific are also likely to offer good growth opportunities in the coming years. Europe will be driven by space investments by ESA and Russia. Asia-Pacific is likely to be the fastest-growing region, driven by a host of factors, including the emergence of India and China in the space sector, investments in small satellite projects, and an increased number of start-ups involved in space activities across the region.

The supply chain of this market comprises raw material suppliers, space battery manufacturers, distributors/part brokers, and End users which include spacecraft OEMs, space agencies, and space research institutes. Major space battery manufacturers are Saft Groupe S.A., Eagle-Picher Technologies LLC, GS Yuasa Corporation, Enersys, and Mitsubishi Electric Corporation. Key end users are NASA, Orbital ATK, European Space Agency, Lockheed Martin, ISRO, Roscosmos, Space X, JAXA, etc.

The following are the key features of the report:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis
  • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
  • Market trend and forecast analysis
  • Market segment trend and forecast
  • Competitive landscape and dynamics: Market share, Product portfolio, New product launches, etc.
  • Attractive market segments and associated growth opportunities
  • Emerging trends
  • Strategic growth opportunities for the existing and new players
  • Key success factors

Company Profiles of Key Players

  • Saft Groupe S.A.
  • Eagle-Picher Technologies LLC
  • GS Yuasa Corporation
  • EnerSys
  • Mitsubishi Electric Corporation

The global space battery market is segmented into the following categories:

By Platform Type

  • Satellite
  • Launch Vehicle
  • Others

By Function Type

  • Primary Batteries
  • Secondary Batteries
  • Reserve Batteries

By Battery Type

  • Nickel-based Battery
  • Lithium-based Battery
  • Silver-Zinc Battery
  • Others

By Platform Mission Type

  • Communication
  • Earth Observation
  • Military Surveillance
  • Science
  • Navigation
  • Others

By Specific Energy Type

  • < 100 Wh/kg
  • 100-150 Wh/kg
  • >150 Wh/kg

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

For more information about this report visit https://www.researchandmarkets.com/research/wjkntk/global_space?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20190306005489/en/

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SOURCE: Research and Markets

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PUB: 03/06/2019 10:00 AM/DISC: 03/06/2019 10:01 AM

http://www.businesswire.com/news/home/20190306005489/en