Space Battery Market Size (2023 - 2030)

The Global Space Battery Market was estimated at USD 3.67 Billion in 2022 and is anticipated to be a value of USD 6.35 Billion by 2030, growing at a CAGR of 7.1% during the forecast period 2023-2030.

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Space batteries are specialized power storage devices that are used in space applications. These batteries play a crucial role in outer space. They help to resist extreme temperatures and provide power in the harsh conditions of outer space. Space batteries basically supply power to critical systems, including scientific instruments and communication, navigation, and guidance equipment. There are three types of batteries used in space applications: primary, secondary, and reserve batteries. Primary batteries are non-rechargeable in nature. They can provide power only for a short period of time. They are generally used during short-duration missions, where only a limited power supply is required. Secondary batteries are rechargeable in nature and can be charged and discharged several times. They provide power for an extended period of time. They are generally used during long-duration missions, where ample power supply is required. Reserve batteries are backup batteries that supply power in the event of a primary or secondary battery failure. Most reserve batteries are low-capacity, high-reliability batteries that are kept on standby and only used when needed. 

Space batteries come in a variety of types based on their chemical types, such as lithium-ion (Li-ion), silver-zinc (AgZn), nickel-cadmium (NiCad) and nickel-hydrogen (NiH2) batteries. Each type holds its advantages and disadvantages that are specific to the application. Due to their functionalities of high-power density, reliability, and durability, the majority of these space batteries are highly employed in outer space.

Global Space Battery Market Drivers:

The increasing applications of space science and research over the last few years have increased the demand for space batteries and fuelled the global space battery market

Earth-orbiting spacecraft, space shuttles, launch vehicles, crew return vehicles, astronaut equipment, and planetary spacecraft, all utilize batteries in space. Most of the time, batteries are used to store or generate electricity. In contrast, reserve batteries are used for storing excess energy in the event of power system failure due to their reliability factor.

Technological advancement in space batteries is another factor boosting the demand for advanced batteries in the industry

Advancements in battery technology, specifically the development of new materials and chemistries, are driving the growth of the space battery market. New battery technologies, such as solid-state and lithium-sulfur batteries, are being formulated to offer higher energy density and a more prolonged lifespan that are important for space applications.

Global Space Battery Market Challenges:

The global space battery market is encountering challenges, primarily in terms of high expense and limited functional life. Due to their advanced materials and manufacturing processes, space batteries are highly specialized and come at a high cost. This limitation can be a barrier to entry for smaller space companies or startups, hindering their ability to develop and launch space-based systems. When subjected to harsh conditions like the vacuum of space, extreme temperatures, and high radiation levels, space batteries can deteriorate or malfunction, leading to a shorter operational life and an increased requirement for frequent replacements.

Global Space Battery Market Opportunities:

There are growing opportunities in the global space battery market, including the increasing need for small satellite launches and spaced-based services. The development of space batteries that are lighter, more efficient, and smaller is being fuelled by the growing demand for quick deployment and cost-effective solutions for small satellites. Space battery manufacturers now have an opportunity to develop novel battery technologies that can meet the specific needs of these applications due to the proliferation of small satellite manufacturers. The growing need for space-related services like navigation, earth observation, and satellite-based communication presents considerable potential for the space battery industry. As more governments and businesses depend on space-based systems, the requirement for dependable and durable power sources will continue to increase, generating fresh prospects for the space battery market.

COVID-19 Impact on Global Space Battery Market:

The outbreak of the COVID-19 pandemic severely impacted the global space battery market. The COVID-19 pandemic caused severe disruptions in the global supply chains, thus affecting the production and delivery of space batteries. Many manufacturers of space batteries faced challenges in procuring raw materials and components, which delayed production schedules. Moreover, the pandemic declined the demand for some types of space batteries, especially those used in the commercial space industry. With the deceleration of commercial space activities, the demand for batteries used in commercial satellites and launch vehicles decreased. Like many industries, the supply chain for space batteries was affected by the disruptions to the manufacturing and transportation sectors caused by COVID-19. Also, the funding for space programs got affected by economic uncertainty caused by the pandemic, which disrupted the demand for space batteries. Despite these challenges, the market for space batteries is estimated to grow in the forecasted period, driven by the increasing investments in space exploration programs and technological advancements in space batteries. 

Global Space Battery Market Recent Developments:

• In January 2023, Honda Motor Co., Ltd. (Honda) and GS Yuasa International Ltd. (GS Yuasa) announced their intent to collaborate on a high-capacity, high-output lithium-ion battery. The two companies have reached a preliminary agreement and will engage in further discussions to establish a joint venture company by the end of 2023.

• In December 2022, Mitsubishi Electric Corporation revealed the addition of two new 70W (48.3dBm) gallium-nitride high-electron-mobility transistors (GaN HEMTs) to their existing GaN HEMT lineup for earth stations used in satellite-communication (SATCOM). The new transistors will operate in the Low-Ku band, specifically in the frequency range of 12.75-13.25 GHz.

• In April 2022, EnerSys announced that it has partnered with OROGENIC APS, which will be responsible for selling and distributing motive power products in Denmark, Iceland, the Faroe Islands, and Greenland.

SPACE BATTERY MARKET REPORT COVERAGE:

Global Space Battery Market Segmentation: By Type

• Nickel-Based Batteries

• Lithium-Ion Batteries

• Silver-Zinc Batteries

• Others

Based on the type, the global space battery market is segmented into nickel-based batteries, lithium-ion batteries, silver-zinc batteries, and others. The Lithium-Ion batteries segment held the highest market share in 2022. Lithium-ion (Li-ion) batteries are a type of rechargeable battery that find application in a wide range of products such as electronics, electric vehicles, and renewable energy systems. These batteries are formulated to store and release energy by enabling the movement of lithium ions between two electrodes, typically made of a lithium-based material like lithium cobalt oxide or lithium iron phosphate. The electrolyte used in Li-ion batteries is generally a fluid or gel containing lithium salts, which enables the lithium ions to move between the two electrodes. One of the primary uses of Li-ion batteries in space is for powering satellites and space probes, as they can withstand extreme temperatures and deliver dependable power in the harsh conditions of outer space, where conventional battery technologies can struggle to perform effectively due to radiation and the vacuum environment.

Global Space Battery Market Segmentation: By Function Type

• Primary Batteries

• Secondary Batteries

• Reserve Batteries

Based on the function type, the global space battery market is segmented into primary batteries, secondary batteries, and reserve batteries. In 2022, the secondary batteries segment held the highest market share. Secondary batteries are rechargeable batteries that have the capability to be charged and discharged multiple times. These batteries are suitable for missions that require a longer duration, allowing for the battery's capacity to be recharged whenever needed. Lithium-ion (Li-ion) batteries are typically chosen as secondary batteries for space-based systems because of their long life cycle and high power density.

Global Space Battery Market Segmentation: By Platform

• Communication

• Earth Observation

• Military Surveillance

• Science 

• Navigation

• Others

Based on the platform, the global space battery market is segmented into communication, earth observation, military surveillance, science, navigation, and others. In 2022, the military surveillance segment held the highest market share. Military surveillance often necessitates the utilization of space-based platforms and satellites for gathering intelligence and monitoring military targets and other activities. These platforms require a reliable power source to function, and space batteries are often the preferred choice due to their high-power density and long cycle life.

Global Space Battery Market Segmentation: By Region

• North America 

• Europe

• Asia-Pacific

• The Middle East & Africa

• South America

The North America Region held more than 40% of the market share in 2022, dominating the global space battery market. The space battery market is experiencing growth due to various factors. These include NASA's R&D activities and the military's funding for surveillance missions. In addition, Canada's growing investments in space technologies are benefiting the market, particularly in environmental monitoring, resource management, national security, and safety. Europe had the second-largest market share. This development is due to the presence of big satellite manufacturers like Surrey Satellite Technology (based in the United Kingdom), Airbus Defense & Space (based in Germany), and Thales Alenia Space (based in France), which place a strong emphasis on small spacecraft.

Global Space Battery Market Key Players:

1. Saft (France)

2. Bren-Tronics Inc. (United States)

3. EaglePicher Technologies (United States)

4. GS Yuasa (Japan)

5. EnerSys (United States)

6. VARTA AG (Germany)

7. CBAK Energy Technology Inc (China)

8. Mitsubishi Electric (Japan)

9. Automotive Energy Supply Corporation (AESC) (Japan)

10. Arotech Corporation (United States)