Space-based Solar Power Market To Reach $1.05 Billion By 2030

Space-based Solar Power Market Growth & Trends

The global space-based solar power market size is estimated to reach USD 1.05 billion by 2030, registering a CAGR of 8.5% from 2025 to 2030, according to a new report by Grand View Research, Inc. The market is expanding due to increased investment in sustainable power generation and the adoption of rigorous government rules against pollution. On the contrary, R&D aimed at lowering the cost of solar space missions through improved technologies is expected to offer attractive growth prospects for key players in the global industry during the forecast period. For instance, in December 2021, Northrop Grumman, an American multinational aerospace and defense technology company, partnered with the Air Force Research Laboratory (AFRL) to develop and test hardware for space-based solar power experiments. Researchers and engineers intend to refine the technology and address potential challenges or limitations by conducting these tests and experiments.

The increase in energy demand globally and a rise in awareness about reliable and sustainable energy sources are major factors driving the growth of the global industry. Moreover, space-based solar power could significantly mitigate climate change's effects by reducing greenhouse gas (GHG) emissions from traditional power sources. This is likely to fuel market growth over the forecast period. Furthermore, a rise in the application of space-based solar power in the military sector contributes to market growth. Moreover, space-based solar power systems can generate power continuously since they are not affected by factors like weather conditions or daylight limitations. They also help reduce GHG emissions and dependence on fossil fuels for energy generation. These systems can provide a source of energy to remote areas that are difficult to access with traditional energy infrastructure, such as developing countries or disaster-stricken areas. Thus, increasing their application scope in several end-use industries.

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Space-based Solar Power Market Report Highlights

• The microwave-transmitting solar satellite segment held the largest revenue share of over 71.5% in 2024.

• This satellite generates solar power at a high level of efficiency and with minimal disturbance making it an attractive alternative for space-based solar power projects

• The electricity generation segment accounted for the largest revenue share in 2024. The high share was attributed to a rise in energy demand and the cleaner generation of electricity globally.

• North America dominated the market in 2024, accounting for over 41.4% share of the global revenue owing to increased investments in R&D activities by government organizations, such as NASA, and private organizations’ participation in this region.

Space-based Solar Power Market Segmentation

Grand View Research has segmented the global space-based solar power market based on satellite type, applications, and regions:

Space-based Solar Power Satellite Type Outlook (Revenue, USD Million, 2018 - 2030)

• Microwave transmitting solar satellite

• Laser transmitting solar satellite

Space-based Solar Power Application Outlook (Revenue, USD Million, 2018 - 2030)

• Electricity generation

• Space applications

Space-based Solar Power Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • KSA

  • UAE

  • South Africa

List of Key Players in the Space-based Solar Power Market

• AZUR SPACE Solar Power GmbH

• Fralock LLC

• Japan Aerospace Exploration Agency

• Northrop Grumman

• Solaren Corporation

• SpaceTech GmbH

• Airbus

• OHB SE

• Canada's Space Innovators

• DHV Technology