Global Energy Storage Market for Satellites 2017-2021

Overview of the global energy storage market for satellites

Several countries are launching satellites in the space for various applications including communication, surveillance, military, and telecom. For instance, the Indian Space Research Organization (ISRO), with its Polar Satellite Launch Vehicle, successfully launched 20 satellites in 2016 for rural and urban applications, utility management, etc. Technavio’s energy storage market for satellites market report identifies the increasing satellite deployment to be one of the primary factors for the energy storage market growth. This growth was further supported by the government investing significantly in space programs that will allow space agencies to continue testing and developing transformative competences and cutting-edge technologies. Our energy storage market for satellites industry analysis estimates that this market will grow steadily at a CAGR of more than 5% by 2021.

The satellite industry is growing steadily and witnessing advances in satellite communication. Intense competition among key vendors and rising demand for higher bandwidth at lower costs will result in the advent of ground effective equipment such as antennas, advanced modems, and high throughput satellites (HTS). To attain edge over competitors in the satellite power supply market, vendors are launching new satellites or releasing new firmware or modem. Also, manufacturers are upgrading satellites to increase their capacity for performing observation and monitoring tasks. The advances in satellite communication is one of the key factors positively impacting the energy storage market for satellites.

Competitive landscape and key vendors

The energy storage market for satellites is populated with several international and regional vendors. Energy storage manufacturers compete intensely component cost, technological advances, lightweight, and reliability. To attain competitive edge in the satellite power supply market, vendors must optimize their product development process and offer cost-effective and high-quality products and solutions. The competitiveness among the competitors is intensified due to the introduction of new energy storage technologies and increased investments in the global satellite market.

The leading vendors in the market are

• EaglePicher Technologies
• EnerSys
• GS Yuasa Lithium Power
• Mitsubishi Electric
• Saft

The other prominent vendor in the market is FastCap Systems.

Segmentation by energy storage and analysis of the energy storage market for satellites

• Battery
• Fuel cell

The battery segment accounts for major share of the energy storage market as nickel batteries and Li-ion batteries are primarily used in satellites. Due to the advantages offered by Li-ion batteries such as high energy density and power capacity better, they have preference over other batteries. Also, they offer benefits such as increase the thermal stability, have higher current density, and have longer shelf life.

Geographical segmentation and analysis of the energy storage market for satellites

• Americas
• APAC
• EMEA

The Americas will be the major revenue contributor to the satellite power supply market owing to the rising number of satellites launched in. Factors such as increase in investment in fuel cell devices, Li-ion battery, and advances in next-generation battery technology will further drive the growth of the market in Americas. This growth will be further boosted by the growing requirement for enhanced satellite communication in the defense sector and development of small satellites.

Key questions answered in this report 

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global energy storage market for satellites?
• What are the key market trends impacting the growth of the global energy storage market for satellites?
• What are the challenges to market growth?
• Who are the key vendors in the global energy storage market for satellites?
• What are the market opportunities and threats faced by the vendors in the global energy storage market for satellites?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global energy storage market for satellites?

Technavio also offers customization on reports based on specific client requirement.