Space Solar Cells Market Report 2025

The space solar cells market size has grown rapidly in recent years. It will grow from $1.23 billion in 2024 to $1.38 billion in 2025 at a compound annual growth rate (CAGR) of 12.4%. The growth during the historic period is attributed to rising investments in space exploration initiatives, increased government funding for space missions, growing demand for dependable power sources in space applications, a stronger focus on sustainability and green energy solutions, and the expanding number of satellite launches worldwide.

The space solar cells market size is expected to see rapid growth in the next few years. It will grow to $2.18 billion in 2029 at a compound annual growth rate (CAGR) of 12%. The growth projected for the forecast period is driven by the expansion of space exploration activities, increasing involvement of both nations and private companies, rising demand for larger and more efficient solar arrays in future missions, growing emphasis on renewable energy in space applications, and expanding collaborations between space agencies and private enterprises. Key trends during this period include advancements in photovoltaic technologies, partnerships between satellite manufacturers and solar cell suppliers, increased investment in research and development of lightweight solar cells, the integration of high-efficiency materials into solar panels, and technological progress in energy storage solutions for space use.

The rising number of satellite launches is set to drive growth in the space solar cells market due to increasing connectivity demands. Satellite launches involve sending artificial satellites into orbit using rockets or launch vehicles. This growing demand is fueled by the need for reliable internet access in more regions via satellite-based broadband services. Space solar cells play a crucial role in these launches by supplying consistent and dependable power in the challenging environment of space, supporting long-term missions. They power essential satellite systems, communication devices, and instruments, enhancing mission performance and reliability. For example, as of September 2022, the Government Accountability Office reported nearly 5,500 active satellites orbiting Earth, with expectations of about 58,000 additional launches by 2030. This surge in satellite deployments is thus propelling the space solar cells market forward.

Leading companies in the space solar cells sector are investing in innovative technologies like CubeSats for in-orbit testing to validate solar cell performance, improve efficiency, and grow their market presence. CubeSats are small, modular spacecraft designed to carry experimental photovoltaic cells, deployable solar arrays, and wireless power systems into orbit. These compact platforms offer a cost-effective way to test solar technologies under actual space conditions. For instance, in January 2023, the California Institute of Technology (Caltech) launched the 50-kg Space Solar Power Demonstrator (SSPD) aboard a Momentus Vigoride spacecraft on a SpaceX Transporter-6 mission. The SSPD tested deployable structures (DOLCE), 32 types of photovoltaic cells (ALBA), and a flexible microwave power array (MAPLE) for wireless energy transmission in orbit. Such demonstrations enable companies and researchers to evaluate efficiency, durability, deployment methods, and power transmission, making CubeSats an essential tool for advancing space solar cell technology and supporting scalable deployment in future missions.

Rocket Lab Corporation, a US aerospace firm, expanded its space solar power capabilities by acquiring SolAero Holdings Inc. in January 2022 for $80 million. This acquisition allows Rocket Lab to integrate SolAero’s high-efficiency space solar cells and aerospace expertise, boosting its vertical integration, production capacity, and ability to deliver comprehensive space mission solutions. SolAero Holdings Inc. specializes in manufacturing high-efficiency, space-grade solar cells and solar power products for satellites and spacecraft.

Major players in the space solar cells market are The Boeing Company, Airbus Group, Northrop Grumman Corporation, Mitsubishi Electric Corporation, Thales Group, Bharat Electronics Ltd., Hanergy Thin Film Power Group Ltd., Redwire Corporation, 5N Plus Inc., Aetherflux Inc., SoliTek Cell, EnduroSat AD, MicroLink Devices Inc., DHV Technology, Solestial Inc., MMA Design LLC, Caelux Inc., Space Solar (UK) Ltd., Stion Corporation, and Ascent Solar Technologies Inc.

North America was the largest region in the space solar cells market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in space solar cells report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the space solar cells market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The sharp hike in U.S. tariffs and the associated trade disputes in spring 2025 are notably impacting the aerospace and defense sector by raising costs for titanium, carbon fiber composites, and avionics materials largely sourced from global suppliers. Defense contractors, locked into fixed-price government contracts, absorb these added costs, while commercial aerospace firms face airline pushback on higher aircraft prices. Delays in component shipments due to customs bottlenecks further disrupt tight production schedules for jets and satellites. The industry is responding by stockpiling critical materials, seeking waivers for defense-related imports, and collaborating with allied nations to diversify supply chain.

Space solar cells are advanced photovoltaic devices designed to convert sunlight into electrical energy while enduring the extreme conditions of outer space. Built to withstand harsh environments such as extreme temperatures, radiation, and vacuum, these cells provide dependable and continuous power for spacecraft, satellites, and space stations, supporting long-duration missions and onboard system operations.

The primary types of space solar cells include monocrystalline, polycrystalline, thin-film, multi-junction, and concentrated photovoltaic (CPV) cells. Monocrystalline solar cells, made from a single continuous silicon crystal, are known for their high efficiency and durability in sunlight-to-electricity conversion. Various technologies are employed in these cells, including silicon-based, gallium arsenide, organic photovoltaic, and perovskite solar cells, offering functionalities like power generation, power storage integration, energy efficiency, and thermal management. These cells are utilized in satellite and spacecraft power systems, space stations, robotic missions, and planetary exploration, serving end users such as government and defense agencies, aerospace manufacturers, research institutions, and private space exploration companies.

The space solar cells market research report is one of a series of new reports that provides space solar cells market statistics, including the space solar cells industry global market size, regional shares, competitors with the space solar cells market share, detailed space solar cells market segments, market trends, and opportunities, and any further data you may need to thrive in the space solar cells industry. This space solar cells market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The space solar cells market consists of revenues earned by entities by providing services such as space-grade solar cell design and customization, testing and qualification for space environments, installation and integration on satellites or spacecraft, maintenance and performance monitoring, and consulting or support for space power systems. The market value includes the value of related goods sold by the service provider or included within the service offering. The space solar cells market also includes sales of solar panels, mounting structures, power management systems, and tracking systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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