The market report on the Space Power Supply Market published by Stratview Research indicates lucrative growth opportunities in the Space Power Supply Market industry during the next five-year period and ensures more information regarding the market trends. The following summary will give an overview of the challenges, trends, market dynamics, and key players.
Space Power Supply Market Forecast:
The Space Power Supply Market is likely to witness an impressive CAGR of 7.2% during the forecast period. Growth in the number of aircraft orders and deliveries and escalating demand for large military UAVs are the major factors expected to underpin the growth of the global air data systems market during the forecast period.
The growth of this market principally depends upon several factors which have direct or indirect influence on the demand. The report published by Stratview Research has the summary of such factors derived using multiple analysis. These methods help in evaluating the potential of the companies and identify gaps, finding challenges as well as opportunities to lay out a successful roadmap which leads to higher profitability.
Here are the key players in the market –
- Airbus SE
- AZUR SPACE Solar Power GmbH
- DHV Technology
- EaglePicher Technologies
- GS Yuasa Corporation
- Northrup Grumman Corporation
- Saft Groupe S.A.
- Sierra Nevada Corporation
- SolAero Technologies, Inc.
- Teledyne Technologies Incorporated.
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Space Power Supply Market Segmentation:
The report segments are based upon applications, material, product type, demographics, geographics, benefits and volume etc. It also recognizes the most-attractive segments and sub-segments.
Space Power Supply Market Share by Product Type
The space power supply market is segmented as solar panels & arrays, batteries, power modules, thermoelectric generators, and others based on the product type. Power modules dominated the market with DC convertor modules being one of the key components. The batteries segment is further classified into battery type as primary, secondary, and reserve battery as well as into material type as nickel, lithium, silver-zinc, and others. Lithium-ion batteries are likely to remain the dominant and the fastest-growing material type in the years to come.
In terms of regions, North America is likely to maintain its huge dominance in the market in the foreseen future. The USA held a huge dominance, alone capturing more than two-thirds share of the total market. The region is likely to offer the highest growth opportunities during the forecast period as well with increasing investments of start-ups and aggressive launch activities by SpaceX.
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