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The objective of the Space Battery Market report is to offer updated information such as the market share, size, trends, emerging markets, earnings, forecasts, and data on leading industry players. This study includes significant and vital information necessary for strategic decision making and have a competitive edge.
In view with the current pandemic analysts at Stratview Research has thoroughly analyzed and presented the following parameters under the detailed Covid – 19 impact analysis in the Space Battery Market.
Market Insights – The Space Battery Market is projected to grow from USD 6.36 billion in 2022 to USD 8.69 billion by 2028 at a CAGR of over 5.3% during the forecast period.
Few key players operating in the Space Battery Market are-
Saft Groupe S.A.
Eagle-Picher Technologies LLC
GS Yuasa Corporation
Enersys
Mitsubishi Electric Corporation.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Space Battery Market value and growth drivers over the trend period of 2018-23. According to the report -
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.
Segment Analysis:
Based on Platform Type:
The global space battery market is segmented based on the platform type as Satellite, Launch Vehicle, and Others. 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 Region:
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.
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Critical Questions Answered in the Report
l What are the key trends in the global Space Battery Market?
l How the Space Battery Market (and its various sub-segments) has grown in the last five years?
l What would be the growth driver and growth rate in next five years?
l What is the impact of COVID-19 on the Space Battery Market?
l What are the key strategies adopted by the major vendors to lead in the Space Battery Market?
l What is the market share of the key players?
Target Audience
The following is a list of the customers that the Space Battery Market aims to convert the most:
l Manufacturing Organizations
l Distributors & Suppliers
l Potential Investors
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