High Growth Industry that Most Investors are Overlooking Part 2
Global Space and Aerospace Battery Market and Technology Research Report 2022
DUBLIN, June 17, 2022 /PRNewswire/ -- The "Batteries for Space and Aerospace - Market and Technology Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
Global Space and Aerospace Battery markets will reach US$10.11 billion through 2030 from US$4.09 billion in 2022. And the energy requirement for space and aerospace applications will rise to 28.09 million kWh in 2030 from 9.09 million kWh in 2022.
Space and Aerospace batteries are becoming an important part of space missions, airborne remote sensing programs, and defense and security applications.
This study offers a detailed analysis of the global Space and Aerospace Battery system market over the next eight years, and provides market size forecasts. Furthermore, it covers key technological and market trends in the industry and analyses factors influencing demand for Space and Aerospace Battery systems.
The availability of different battery chemistries in all ranges of energy densities has created ample scope and opportunities for Space and Aerospace batteries worldwide. By 2030, the Space and Aerospace battery business in the world will flourish in almost all types of end-use applications.
Various chemistries in Lithium-ion and upcoming combinations of lithium with sulphur and silicon are inviting more scope for high-energy density batteries to the markets. Solid-state batteries have also made headway and soon will become part of mainstream markets.
Many Space and Aerospace Battery system developers and manufacturers struggle with the scalability of the business and marketing network. Acquisition of manufacturing sites, development of skilled technical supply chain is increasing in the past few years.
Today, majority of battery manufacturers are focusing on developing batteries for electrical vehicles. Which will help space and aerospace batteries in terms of getting safe, high-energy density and longer life cycle batteries.
Going further in the next ten years there are many satellite launches planned worldwide, many new aircraft especially UAVs will generate demand. HAPS (High-Altitude Pseudo-Satellite) and Airtaxis will become a mainstream business. We could see more of such trends in the markets.
The business is going to be huge and will expand in many countries and applications. The fear is the supply could face challenges mostly due to lack of capital or lack of ability to scale the business.
- Space and Aerospace Market is projected to register a CAGR of 12.0% over 2022-2030 in terms of value and about 15.1% in terms energy requirement.
- In terms of applications, the space batteries is anticipated to account for the largest share of revenue globally
- Aircraft batteries and UAV batteries are anticipated to account for the second and third largest segments in terms of revenue over the forecast period.
- The remaining market share is held by HAPS.
- Rising need for high-energy density and safety will increase demand for Space and Aerospace Battery system
Overview of Batteries used for Space and Aerospace Applications
- Space applications
- High-altitude Pseudo Satellites (HAPS)
- NASA Developing Solid-state Batteries for Enhanced Safety and Rechargeability
- Shipment of the First High-Density Lithium-Ion Battery Cells for High-Altitude Pseudo Satellites (HAPS)
- Lithium Batteries are Dominating the Secondary Battery Markets
Technologies and Developments
Type of a Battery
Format of a Battery
Key Performance Criteria for Space and Aerospace Batteries
Timeline of Rechargeable Battery Chemistry Development
- Nickel-Cadmium Batteries
- Sodium-sulfur Battery Technology
- Lithium Nickel Cobalt Aluminium Oxides (NCAs)
- Lithium Nickel Manganese Cobalt (NMC) Batteries
- Lithium Iron Phosphate (LiFePO4) Batteries
- Lithium Manganate Oxide (LMO) Battery
- Lithium Titanate or Lithium Titanium Oxide (LTO) Battery
VES16 Li-ion cell for Space Applications
Future Battery Technologies to watch
- Lithium-sulfur Battery Technology
- Lithium-air Battery Technology
- Solid-state Lithium-metal Battery Technology
- Silicon Nanowire Battery Technology
- Zinc-air Battery Technology
- AAC CLYDE SPACE
- AMTE Power
- APB Corporation
- Concorde Battery Corporation
- EaglePicher Technologies
- Electric Power Systems
- GS Yuasa International Ltd.
- Ibeos (Formerly Cubic Aerospace)
- Saft Groupe SAS
- Sion Power
- Space Vector
- Steatite Ltd
- Teledyne Battery Products (GILL)