This report describes and explains the space battery market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global space battery market reached a value of nearly $3.74 billion in 2024, having grown at a compound annual growth rate (CAGR) of 4.80% since 2019. The market is expected to grow from $3.74 billion in 2024 to $5.16 billion in 2029 at a rate of 6.65%. The market is then expected to grow at a CAGR of 5.93% from 2029 and reach $6.89 billion in 2034.
Growth in the historic period resulted from the increase in demand for space exploration, increasing number of satellites launches, rising investment in space programs and government space programs and defense initiatives. Factors that negatively affected growth in the historic period were high cost of space-grade batteries and stringent safety and certification requirements.
Going forward, the increased focus on satellite miniaturization, rising defense spending in space programs, growth of satellite internet and IoT applications and focus on sustainability and end-of-life satellite management will drive the growth. Factor that could hinder the growth of the space battery market in the future include limited reusability and repair options, space mission failures and launch abortions and impact of trade war and tariffs.
North America was the largest region in the space battery market, accounting for 35.41% or $1.32 billion of the total in 2024. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the space battery market will be Asia Pacific and Eastern Europe where growth will be at CAGRs of 8.93% and 8.80% respectively. These will be followed by Middle East and South America where the markets are expected to grow at CAGRs of 7.80% and 7.00% respectively.
The global space battery market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 23.85% of the total market in 2023. Eagle-Picher Technologies LLC was the largest competitor with a 3.22% share of the market, followed by GS Yuasa Corporation (GS Yuasa Lithium Power (GYLP)) with 3.18%, Enersys Inc. with 3.02%, Saft Groupe S.A. with 2.86%, Mitsubishi Electric Corporation with 2.82%, Airbus SE with 2.71%, NEC Corporation (NEC Space Technologies, Ltd) with 1.72%, Teledyne Technologies Incorporated with 1.68%, Moog Inc. with 1.64% and East Penn Manufacturing Co. with 1.01%.
The space battery market is segmented by type into nickel-based battery, lithium-based battery, silver-zinc battery and other types. The lithium-based battery market was the largest segment of the space battery market segmented by type, accounting for 48.68% or $1.82 billion of the total in 2024. Going forward, the lithium-based battery segment is expected to be the fastest growing segment in the space battery market segmented by type, at a CAGR of 8.39% during 2024-2029.
The space battery market is segmented by platform into communication, earth observation, military surveillance, science, navigation and other platforms. The communication market was the largest segment of the space battery market segmented by platform, accounting for 31.99% or $1.19 billion of the total in 2024. Going forward, the navigation segment is expected to be the fastest growing segment in platform system, at a CAGR of 8.02% during 2024-2029.
The space battery market is segmented by energy type into less than 100 Wh/kg (watt hour/kilogram), 100-150 Wh/kg and more than 150 Wh/kg. The 100 Wh/kg (watt hour/kilogram) market was the largest segment of the space battery market segmented by energy type, accounting for 44.20% or $1.65 billion of the total in 2024. Going forward, the more than 150 Wh/kg segment is expected to be the fastest growing segment in the space battery market segmented by energy type, at a CAGR of 7.71% during 2024-2029.
The satellite market is segmented by orbit type into low earth orbit (LEO), medium earth orbit (MEO), geosynchronous orbit (GEO) and other orbit types. The low earth orbit (LEO) market was the largest segment of the satellite market segmented by orbit type, accounting for 70.82% or $ 1.69 billion of the total in 2024. Going forward, the low earth orbit (LEO) segment is expected to be the fastest growing segment in the satellite market segmented by orbit type, at a CAGR of 7.85% during 2024-2029.
The space battery market is segmented by application into satellite, launch vehicle and other applications. The satellite market was the largest segment of the space battery market segmented by application, accounting for 63.73% or $2.38 billion of the total in 2024. Going forward, the satellite segment is expected to be the fastest growing segment in the space battery market segmented by application, at a CAGR of 6.90% during 2024-2029.
The top opportunities in the space battery market segmented by type will arise in the lithium-based battery segment, which will gain $905.03 million of global annual sales by 2029. The top opportunities in the space battery market segmented by platform will arise in the communication segment, which will gain $487.11 million of global annual sales by 2029. The top opportunities in the space battery market segmented by energy type will arise in the more than 150 Wh/kg segment, which will gain $630.23 million of global annual sales by 2029. The top opportunities in the satellite market segmented by orbit type will arise in the low earth orbit (LEO) segment, which will gain $775.98 million of global annual sales by 2029. The top opportunities in the space battery market segmented by application will arise in the satellite segment, which will gain $945.91 million of global annual sales by 2029. The space battery market size will gain the most in the USA at $258.27 million.
Market-trend-based strategies for the space battery market include strategic partnership approach to enhance technology integration and expand market reach, developing innovative solutions such as diamond batteries to enable ultra-long-lasting, advancing cutting-edge technologies like lithium-sulfur batteries, developing innovative technology such as sodium-ion battery technology and developing cutting-edge modular energy storage systems.
Player-adopted strategies in the space battery market include focus on enhancing its operational capabilities through securing new contracts and focus on strategic partnerships and new launches to enhance its business offerings.
To take advantage of the opportunities, the analyst recommends the space battery market companies to focus on advancing ultra-durable power solutions for long-duration missions, focus on commercializing lightweight high-energy battery technologies, focus on deploying modular storage systems for in-orbit validation, focus on scaling lithium-based battery solutions for high-growth space applications, focus on targeting navigation applications to capture high-growth demand, expand in emerging markets, continue to focus on developed markets, focus on value-based pricing to align with mission-critical needs, continue to use B2B promotions, focus on targeted outreach to emerging satellite operators to capture growth segments, focus on strategic partnerships to accelerate product integration and market expansion and focus on satellite applications to maximize market growth.
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The global space battery market reached a value of nearly $3.74 billion in 2024, having grown at a compound annual growth rate (CAGR) of 4.80% since 2019. The market is expected to grow from $3.74 billion in 2024 to $5.16 billion in 2029 at a rate of 6.65%. The market is then expected to grow at a CAGR of 5.93% from 2029 and reach $6.89 billion in 2034.
Growth in the historic period resulted from the increase in demand for space exploration, increasing number of satellites launches, rising investment in space programs and government space programs and defense initiatives. Factors that negatively affected growth in the historic period were high cost of space-grade batteries and stringent safety and certification requirements.
Going forward, the increased focus on satellite miniaturization, rising defense spending in space programs, growth of satellite internet and IoT applications and focus on sustainability and end-of-life satellite management will drive the growth. Factor that could hinder the growth of the space battery market in the future include limited reusability and repair options, space mission failures and launch abortions and impact of trade war and tariffs.
North America was the largest region in the space battery market, accounting for 35.41% or $1.32 billion of the total in 2024. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the space battery market will be Asia Pacific and Eastern Europe where growth will be at CAGRs of 8.93% and 8.80% respectively. These will be followed by Middle East and South America where the markets are expected to grow at CAGRs of 7.80% and 7.00% respectively.
The global space battery market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 23.85% of the total market in 2023. Eagle-Picher Technologies LLC was the largest competitor with a 3.22% share of the market, followed by GS Yuasa Corporation (GS Yuasa Lithium Power (GYLP)) with 3.18%, Enersys Inc. with 3.02%, Saft Groupe S.A. with 2.86%, Mitsubishi Electric Corporation with 2.82%, Airbus SE with 2.71%, NEC Corporation (NEC Space Technologies, Ltd) with 1.72%, Teledyne Technologies Incorporated with 1.68%, Moog Inc. with 1.64% and East Penn Manufacturing Co. with 1.01%.
The space battery market is segmented by type into nickel-based battery, lithium-based battery, silver-zinc battery and other types. The lithium-based battery market was the largest segment of the space battery market segmented by type, accounting for 48.68% or $1.82 billion of the total in 2024. Going forward, the lithium-based battery segment is expected to be the fastest growing segment in the space battery market segmented by type, at a CAGR of 8.39% during 2024-2029.
The space battery market is segmented by platform into communication, earth observation, military surveillance, science, navigation and other platforms. The communication market was the largest segment of the space battery market segmented by platform, accounting for 31.99% or $1.19 billion of the total in 2024. Going forward, the navigation segment is expected to be the fastest growing segment in platform system, at a CAGR of 8.02% during 2024-2029.
The space battery market is segmented by energy type into less than 100 Wh/kg (watt hour/kilogram), 100-150 Wh/kg and more than 150 Wh/kg. The 100 Wh/kg (watt hour/kilogram) market was the largest segment of the space battery market segmented by energy type, accounting for 44.20% or $1.65 billion of the total in 2024. Going forward, the more than 150 Wh/kg segment is expected to be the fastest growing segment in the space battery market segmented by energy type, at a CAGR of 7.71% during 2024-2029.
The satellite market is segmented by orbit type into low earth orbit (LEO), medium earth orbit (MEO), geosynchronous orbit (GEO) and other orbit types. The low earth orbit (LEO) market was the largest segment of the satellite market segmented by orbit type, accounting for 70.82% or $ 1.69 billion of the total in 2024. Going forward, the low earth orbit (LEO) segment is expected to be the fastest growing segment in the satellite market segmented by orbit type, at a CAGR of 7.85% during 2024-2029.
The space battery market is segmented by application into satellite, launch vehicle and other applications. The satellite market was the largest segment of the space battery market segmented by application, accounting for 63.73% or $2.38 billion of the total in 2024. Going forward, the satellite segment is expected to be the fastest growing segment in the space battery market segmented by application, at a CAGR of 6.90% during 2024-2029.
The top opportunities in the space battery market segmented by type will arise in the lithium-based battery segment, which will gain $905.03 million of global annual sales by 2029. The top opportunities in the space battery market segmented by platform will arise in the communication segment, which will gain $487.11 million of global annual sales by 2029. The top opportunities in the space battery market segmented by energy type will arise in the more than 150 Wh/kg segment, which will gain $630.23 million of global annual sales by 2029. The top opportunities in the satellite market segmented by orbit type will arise in the low earth orbit (LEO) segment, which will gain $775.98 million of global annual sales by 2029. The top opportunities in the space battery market segmented by application will arise in the satellite segment, which will gain $945.91 million of global annual sales by 2029. The space battery market size will gain the most in the USA at $258.27 million.
Market-trend-based strategies for the space battery market include strategic partnership approach to enhance technology integration and expand market reach, developing innovative solutions such as diamond batteries to enable ultra-long-lasting, advancing cutting-edge technologies like lithium-sulfur batteries, developing innovative technology such as sodium-ion battery technology and developing cutting-edge modular energy storage systems.
Player-adopted strategies in the space battery market include focus on enhancing its operational capabilities through securing new contracts and focus on strategic partnerships and new launches to enhance its business offerings.
To take advantage of the opportunities, the analyst recommends the space battery market companies to focus on advancing ultra-durable power solutions for long-duration missions, focus on commercializing lightweight high-energy battery technologies, focus on deploying modular storage systems for in-orbit validation, focus on scaling lithium-based battery solutions for high-growth space applications, focus on targeting navigation applications to capture high-growth demand, expand in emerging markets, continue to focus on developed markets, focus on value-based pricing to align with mission-critical needs, continue to use B2B promotions, focus on targeted outreach to emerging satellite operators to capture growth segments, focus on strategic partnerships to accelerate product integration and market expansion and focus on satellite applications to maximize market growth.
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Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Global Space Battery Growth Analysis and Strategic Analysis Framework
9 Global Space Battery Market Segmentation
10 Space Battery Market, Regional and Country Analysis
11 Asia-Pacific Market
12 Western Europe Market
13 Eastern Europe Market
14 North America Market
15 South America Market
16 Middle East Market
17 Africa Market
18 Competitive Landscape and Company Profiles
19 Other Major and Innovative Companies
22 Key Mergers and Acquisitions
23 Recent Developments in Space Battery
24 Opportunities and Strategies
25 Space Battery Market, Conclusions and Recommendations
26 Appendix
Executive Summary
Space Battery Global Market Opportunities and Strategies To 2034 provides the strategists; marketers and senior management with the critical information they need to assess the global space battery market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
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- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
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- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for space battery? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The space battery market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider space battery market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by animal type and by application.
- Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Growth Analysis and Strategic Analysis Framework - Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
- Global Market Size and Growth - Global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis - Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation - Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by type, by animal type and by application in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size and Growth - Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major and Innovative Companies - Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Recent Developments - Information on recent developments in the market covered in the report.
- Market Opportunities and Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations - This section includes recommendations for space battery providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) By Type: Nickel-Based Battery; Lithium-Based Battery; Silver-Zinc Battery; Other Types2) By Platform: Communication; Earth Observation; Military Surveillance; Science; Navigation; Other Platforms
3) By Energy Type: Less Than 100 Wh/Kg; 100-150 Wh/Kg; More Than 150 Wh/Kg
4) By Orbit Type: Low Earth Orbit (LEO); Medium Earth Orbit (MEO); Geosynchronous Orbit (GEO); Other Orbit Types
5) By Application: Satellite; Launch Vehicle; Other Applications
Companies Mentioned: Eagle-Picher Technologies LLC; GS Yuasa Corporation (GS Yuasa Lithium Power (GYLP)); Enersys Inc.; Saft Groupe S.A.; Mitsubishi Electric Corporation
Countries: Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; space battery indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing:Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
The companies featured in this Space Battery market report include:- Eagle-Picher Technologies LLC
- GS Yuasa Corporation (GS Yuasa Lithium Power (GYLP))
- Enersys Inc.
- Saft Groupe S.A.
- Mitsubishi Electric Corporation
- Airbus SE
- NEC Corporation (NEC Space Technologies, Ltd)
- Teledyne Technologies Incorporated
- Moog Inc.
- East Penn Manufacturing Co.
- Antrix Corporation Limited
- Bharat Electronics Limited (BEL)
- N Hitachi Zosen
- EC Corporation
- Hanwha Systems Co., Ltd.
- Samsung SDI
- Vitzrocell
- LG Energy Solution Ltd.
- Tesat-Spacecom
- OHB System AG
- CRISA (Airbus Defence and Space Spain)
- TAS Italia (Thales Alenia Space Italy)
- Leonardo S.p.A.
- PJSC Energia
- SAB Aerospace
- NPO Orion
- JSC "Information Satellite Systems" (ISS Reshetnev)
- ABL Space Systems
- Lyten
- KULR Technology Group Inc.
- UCB Power
- EAS Batteries
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 339 |
| Published | September 2025 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value ( USD | $ 3.74 Billion |
| Forecasted Market Value ( USD | $ 6.89 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 33 |
