Global Space Battery Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at a CAGR of around XX % during a forecast period.
Global private sector companies in the space community are acting as a catalyst towards the growth of the space battery market. Technological development in space batteries is another factor that is boosting the demand for advanced batteries in the industry. Current market players are striving hard for nonstop innovation, which has resulted in the development of batteries with a specific energy of 500 Wh/kg. The innovative outlook of space battery technology would seek ways to decrease associated disadvantages of existing batteries like poor performance of lithium-ion batteries in enormously low temperatures and a phenomenon associated with it called thermal runaway, which is caused by overcharging.
According to battery type, the lithium-based battery is expected 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 dropping SWAP of the battery. It is expected to exhibit the highest growth rate during the forecast period as well.
Geographically, North America is expected to remain the largest market during the forecast period, driven by the presence of main spacecraft OEMs and tier players. The USA is the growth engine of the region's market and its space budget is the maximum across the world, which is almost six times of the country with second highest space budget. As well, space agencies like NASA, which are most involved in space-related activities located in the USA and in world.
Europe and Asia-Pacific are also probable to offer good growth opportunities in the coming years. Europe will be driven by space investments by ESA and Russia. Asia-Pacific is expected to be the fastest-growing region, driven by a host of factors, with the appearance of India and China in the space sector, investments in small satellite projects, and an augmented number of start-ups involved in space activities across the region.
Report emphases on space battery value at global level, regional level and company level. From a global outlook, this report represents overall space battery market size by analyzing historical data and future prospect. Regionally, this report focuses on numerous key regions.
At company level, this report focuses on the production capacity, ex-factory price, revenue, and market share for each manufacturer enclosed in this report.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global space batterymarket dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global space batterymarket.
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Scope of Global Space Battery Market
Global Space Battery Market, By Platform Type
• Launch Vehicle
Global Space Battery Market, By Function Type
• Primary Batteries
• Secondary Batteries
• Reserve Batteries
Global Space Battery Market, By Battery Type
• Nickel-based Battery
• Lithium-based Battery
• Silver-Zinc Battery
Global Space Battery Market, By Platform Mission Type
• Earth Observation
• Military Surveillance
Global Space Battery Market, By Specific Energy Type
• < 100 Wh/kg • 100-150 Wh/kg • >150 Wh/kg
Global Space Battery Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Global Space Battery Market
• SaftGroupe S.A.
• Eagle-Picher Technologies LLC
• GS Yuasa Corporation
• Mitsubishi Electric Corporation
• VARTA AG
This Report Is Submitted By : Maximize Market Research Company
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