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The present report can be of high utility for the key decision-makers and growth strategists in terms of precise market insights, forthcoming growth opportunities, and key success factors. Especially, the report also analyses and mentions the possible impact of COVID-19 on the market dynamics. This will not only help in mitigating the uncertain business environment, but also help in rearranging the strategies and future- decisions in a fruitful manner.
Key Players
The following are some of the key players in the Space Power Supply Market:
Airborne
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.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Space Power Supply Market value and growth drivers over the trend period of 2022-27. According to the report -
SpaceX, Blue Origin, OneWeb, and Virgin Galactic are the key investment recipients in 2021, collectively embraced about US$ 3.9 billion, translating into 68% of the total investments. Despite the lingering COVID-19 pandemic, the space industry witnessed robust growth in the year 2020, making it a record year for the industry. The global space power supply market logged an impressive growth of more than 100% (year-over-year) to reach US$ 2.8 billion in 2021.
Segment Analysis:
Based on Application Type:
Stratview Research has firstly segmented the space power supply market based on the application type as satellites, launch vehicles, and space exploration. Increasing investments in space start-ups are driving companies to launch several small satellites in the LEO orbit. More than 1,200 satellites were launched in 2021, of which more than 1,100 were small satellites. SpaceX’s constellation “Starlink” deployed hundreds of communication satellites, which led the market to register an extraordinary growth in the year 2020. Furthermore, there are thousands of more such satellites already in the pipeline, ensuring a bright future for the industry in the coming years.
Based on Region:
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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FREQUENTLY ASKED QUESTIONS
The report answers several questions related to the market. The user can get to know the answers to the following questions…
- What is the global demand for Space Power Supply Market in terms of revenue?
- Which are the prominent players in the market?
- At what CAGR is the market projected to grow within the forecast period?
- What are the driving factors fuelling the growth of the market?
- Which region accounted for the largest share in the market?
- How did the Covid19 impacted the market?
- How long will it take to recover from the Covid impact?
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