Dublin, Jan. 14, 2026 (GLOBE NEWSWIRE) — The “Space Power Supply Market Report 2026” has been added to ResearchAndMarkets.com’s offering.
The space power supply market has shown robust growth, expanding from $2.68 billion in 2024 to an anticipated $2.9 billion in 2025, with a compound annual growth rate (CAGR) of 8.4%. This expansion is driven by heightened investments in low Earth orbit satellites, increased demand for satellite-based communications, a rise in commercial satellite launches, dependence on space-based navigation, and augmented governmental budgets for space exploration.
Looking ahead, the market is expected to reach $3.96 billion by 2029, achieving a CAGR of 8.1%. The forecast growth is largely attributed to the deployment of satellite mega-constellations, interest in lunar and Mars missions, small satellite launches, demand for uninterrupted power on space stations, and expanding private sector initiatives in space exploration. Prominent trends include advancements in efficient solar panels, innovations in battery systems, integration of nuclear power in spacecraft, hybrid energy storage solutions, and thermoelectric generator progress.
An increasing number of satellite launches is a key driver of market growth. These launches are pivotal for maintaining communication, navigation, and multiple Earth observation programs. In 2023, the United States International Trade Commission reported an increase in annual space launches from 186 in 2022 to 197 in 2023. Power supply systems are crucial for satellite operations, delivering reliable energy to onboard systems. For instance, companies are developing space-optimized modules for enhanced mission longevity and reduced thermal demands.
Frontgrade Technologies Inc., for example, debuted a PSM28 Power Supply Module in July 2025, aligning with the MAMBA initiative’s goals to offer flexible, compact power for small satellites and unmanned systems. Similarly, Rocket Lab Corporation’s acquisition of SolAero Holdings Inc. for $80 million in January 2022 underscores the strategic importance of solar power capabilities.
Major participants in the market include Airbus Group SE, Raytheon Technologies, Lockheed Martin, Northrop Grumman, Mitsubishi Electric, and others. Geographically, North America held the largest market share in 2024, while the Asia-Pacific region is projected to exhibit the fastest growth.
Market dynamics are influenced by global trade policies, with changes in tariffs impacting aerospace sectors by increasing material costs and causing supply chain delays. Companies are adapting by stockpiling materials and diversifying supply chains.
The market research report offers comprehensive statistics on global market size, regional shares, competitor analysis, and detailed market segments. This report serves as a vital resource for understanding industry trends and opportunities, providing a thorough analysis of the current and future market landscape.
Report Scope:
- Product Type: Power Management Systems, Power Distribution Units, Power Generation Units, Energy Storage Systems
- Technology Type: Solar Power, Nuclear Power, Chemical Batteries, Fuel Cells, Thermal Energy Systems
- Form Factor: Standalone, Modular, Integrated, Portable Units
- Application: Satellite Systems, Space Exploration, ISS, Rovers, Orbital Platforms
- End User: Government Agencies, Private Space Companies, Aerospace Manufacturers, Research Institutions
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2026 – 2030 |
| Estimated Market Value (USD) in 2026 | $3.14 Billion |
| Forecasted Market Value (USD) by 2030 | $4.27 Billion |
| Compound Annual Growth Rate | 8.0% |
| Regions Covered | Global |
Companies Featured
- Airbus Group SE
- Raytheon Technologies Corporation Inc.
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Mitsubishi Electric Corporation
- BAE Systems plc
- L3Harris Technologies Inc.
- Jinko Solar Holding Co. Ltd.
- Teledyne Technologies Incorporated
- GS Yuasa International Ltd.
- Thales Alenia Space S.p.A.
- Maxar Technologies Inc.
- Rocket Lab USA Inc.
- Spectrolab Inc.
- ISISPACE Group Ltd.
- GomSpace AB
- NanoAvionics UAB
- AAC Clyde Space Ltd.
- DHV Technology Ltd.
- EnduroSat Ltd.
- mPower Technology Inc.
For more information about this report visit https://www.researchandmarkets.com/r/w4mze5
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- Space Power Supply Market
