Space Solar Panel And Array Market Report 2025 (Global Edition)

Global Space Solar Panel And Array Market Report 2024 Market Size Split by Type (Solar Panels, Solar Array), by Satelite (Small Satelite, Nanosatelites (1-10 Kg), Microsatelites (10-100 Kg), Minisatel...

Space Solar Panel And Array Market Report Description

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Competitive Landscape of the Space Solar Panel And Array Market

The competitive landscape of the space solar panel and array market is characterized by a mix of established aerospace giants, such as Lockheed Martin and Airbus, alongside innovative startups like SolAero Technologies and Deployable Space Systems. Key factors driving competition include technological advancements, cost-effectiveness, and reliability of solar panel solutions, as well as companies' ability to adapt to evolving customer needs and regulatory requirements.

Top Companies Market Share in Space Solar Panel And Array Industry: (In no particular order of Rank)

• NanoAvionics
• Spectrolab
• GomSpace
• DHV Technology
• MMA Design LLC
• Pumpkin Inc
• SolAero Technologies
• Innovative Solutions In Space (ISIS)
• Bharat Heavy Electricals Limited
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Space Solar Panel And Array Market

Which Region will dominate the Space Solar Panel And Array Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. In North America, the space solar panel and array market exhibit robust growth driven by the presence of leading space agencies like NASA and private aerospace companies such as SpaceX and Blue Origin. Technological innovation, substantial investments in space exploration, and a strong ecosystem of research institutions and industry players contribute to the region's market dominance. Additionally, favorable government policies and initiatives supporting space-based ventures further bolster the development and adoption of solar panel solutions for space applications in North America.

Which Region is Expanding at the Fastest CAGR?

The European region is witnessing an increase in the sales of reagents. Countries like France, Germany, and Italy host leading aerospace companies and research institutions specializing in space technologies. European Space Agency (ESA) initiatives and collaborations foster innovation and market development. Additionally, supportive government policies, investment in renewable energy technologies, and a focus on sustainable space exploration further contribute to the growth of the space solar panel and array market in Europe.

The current report Scope analyzes Space Solar Panel And Array Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Space Solar Panel And Array Market

According to Cognitive Market Research, the global Space Solar Panel And Array Market size was estimated at USD 261.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 104.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 20.5% from 2024 to 2031. In North America, the space solar panel and array market thrive due to a highly developed space industry led by prominent organizations like NASA and private companies such as SpaceX and Boeing. Key drivers include increasing demand for satellite constellations for communication and Earth observation, as well as government initiatives promoting space exploration and national security interests. Technological advancements, coupled with favorable regulatory frameworks and robust investment in space-based infrastructure, further propel market growth in the region.

• According to Cognitive Market Research, the US had a major share in the Space Solar Panel And Array Market, with a market size of USD 82.43 million in 2024, and is projected to grow at a CAGR of 20.3% during the forecast period. The increasing demand for satellite-based services and the pursuit of renewable energy solutions further boost the market.
• The Canada Space Solar Panel And Array Market had a market share of USD 12.54 million in 2024 and is projected to grow at a CAGR of 21.3% during the forecast period. With organizations like the Canadian Space Agency (CSA) driving innovation, there is a growing demand for high-efficiency solar panels tailored for space applications.
• The Mexico Space Solar Panel And Array Market is projected to witness growth at a CAGR of 21.0% during the forecast period, with a market size of USD 9.51 million in 2024.

 

Europe Space Solar Panel And Array Market

According to Cognitive Market Research, with a market value of USD 261.2 million in 2024, it is projected to expand at a compound annual growth rate (CAGR) of 20.8% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 78.36 million. Europe, the space solar panel and array market is primarily driven by the region's commitment to space exploration and renewable energy. Initiatives such as the European Space Agency's (ESA) focus on solar power generation in space, coupled with the continent's strong expertise in aerospace engineering and technology, fuel market growth. Moreover, stringent environmental regulations and the push towards sustainable energy solutions incentivize the adoption of space solar panels and arrays, further propelling market expansion in Europe.

• The United Kingdom Space Solar Panel And Array Market had a market share of USD 13.16 million in 2024 and is projected to grow at a CAGR of 21.6% during the forecast period. Government initiatives, such as the UK Space Agency's support for satellite programs and renewable energy research, drive demand.
• The France Space Solar Panel And Array Market is projected to grow at a CAGR of 20.0% during the forecast period and reach a market size of USD 7.21 million in 2024.
• According to Cognitive Market Research, the German space Solar Panel And Array Market size was valued at USD 15.52 million in 2024 and is projected to grow at a CAGR of 21.0% during the forecast period. The country's strong aerospace industry, led by companies like OHB SE and Airbus Defence and Space, fosters innovation and technological advancements in space solar technologies.
• The Italy Space Solar Panel And Array Market is projected to witness growth at a CAGR of 20.2% during the forecast period with a market size of USD 6.74 million in 2024.
• The Russia Space Solar Panel And Array Market is projected to witness growth at a CAGR of 19.8% during the forecast period, with a market size of USD 12.15 million in 2024.
• The Spain Space Solar Panel And Array Market is projected to grow at a CAGR of 19.9% during the forecast period and reach a market size of USD 6.43 million in 2024.
• The Luxembourg Space Solar Panel And Array Market is projected to grow at a CAGR of 20.9% during the forecast period, reaching a market size of USD 2.43 million in 2024.
• The Portugal Space Solar Panel And Array Market is projected to witness growth of 1.65 million in 2024.
• The Greece Space Solar Panel And Array Market is projected to grow at a CAGR of 21.1% during the forecast period, reaching a market size of USD 0.94 million in 2024.
• The Rest of Europe's Space Solar Panel And Array Market is projected to witness growth at a CAGR of 19.5% during the forecast period, reaching a market size of USD 12.15 million in 2024.

 

Asia Pacific Space Solar Panel And Array Market

According to Cognitive Market Research, the global Space Solar Panel And Array Market size was estimated at USD 261.2 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 60.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 24.3% from 2024 to 2031. Among the several key drivers propelling the Asia-Pacific region is the space solar panel and array market. The rapid expansion of satellite-based communication, Earth observation, and navigation systems in countries like China, India, and Japan increases the demand for efficient power generation solutions. Additionally, government initiatives promoting space exploration and satellite deployment, coupled with investments in renewable energy technologies, stimulate market growth. Emerging space programs and collaborations further bolster the demand for space solar panels and arrays in the Asia-Pacific region.

• According to Cognitive Market Research, the China Space Solar Panel And Array Market size was valued at USD 27.03 million in 2024 and is projected to grow at a CAGR of 23.08% during the forecast period. Government support, technological advancements, and strategic partnerships with domestic and international players are key drivers fueling the growth of the space solar panel and array market in China.
• The Japan Space Solar Panel And Array Market is projected to grow at a CAGR of 22.8% during the forecast period, reaching a market size of USD 8.29 million in 2024.
• The India Space Solar Panel And Array   Market had a market share of USD 7.21 million in 2024 and is projected to grow at a CAGR of 26.1% during the forecast period. ISRO's emphasis on satellite deployment for communication, Earth observation, and navigation drives demand for efficient and cost-effective solar power solutions.
• The South Korea Space Solar Panel And Array Market is projected to grow at a CAGR of 23.4% during the forecast period, reaching a market size of USD 6.01 million in 2024.
• The Australian space Solar Panel And Array Market is projected to grow at a CAGR of 24.0% during the forecast period, reaching a market size of USD 3.12 million in 2024.
• The South East Asia Space Solar Panel And Array Market is projected to witness growth at a CAGR of 25.3% during the forecast period, with a market size of USD 4.15 million in 2024.
• The Rest of the Asia Pacific Space Solar Panel And Array Market is projected to witness growth at a CAGR of 24.1% during the forecast period, with a market size of USD 4.27 million in 2024.

 

South America Space Solar Panel And Array Market

According to Cognitive Market Research, the global Space Solar Panel And Array Market size was estimated at USD 261.2 Million, out of which the Latin America market of more than 5% of the global revenue with a market size of USD 13.06 million in 2024 and will grow at a compound annual growth rate (CAGR) of 21.7% from 2024 to 2031. Space Solar Panel And Array sales in Latin America are propelled by increasing governmental and private sector interest in space exploration and satellite deployment. Governments in countries like Brazil, Argentina, and Mexico are investing in satellite programs for communication, Earth observation, and scientific research. This growing demand for satellites drives the need for efficient and reliable space solar power solutions. Additionally, partnerships with international space agencies and advancements in renewable energy technologies further accelerate market growth in the region.

• According to Cognitive Market Research, the Brazil Space Solar Panel And Array Market size was valued at USD 5.59 million in 2024 and is projected to grow at a CAGR of 23.3% during the forecast period. Government initiatives, such as the Brazilian Space Agency's strategic plans, drive investment in space-based projects.
• The Argentina Space Solar Panel And Array Market had a market share of USD 2.19 million in 2024 and is projected to grow at a CAGR of 22.6% during the forecast period. The National Commission for Space Activities (CONAE) drives the development of space-based projects, including satellite missions for Earth observation and communication.
• The Colombia Space Solar Panel And Array Market is projected to grow at a CAGR of 21.5% during the forecast period, reaching a market size of USD 1.16 million in 2024.
• The Peru Space Solar Panel And Array Market is projected to grow at a CAGR of 21.9% during the forecast period, reaching a market size of USD 1.07 million in 2024.
• The Chile Space Solar Panel And Array Market is projected to grow at a CAGR of 22.0% during the forecast period, reaching a market size of USD 0.94 million in 2024.
• The Rest of Latin America's Space Solar Panel And Array Market is projected to grow at a CAGR of 20.8% during the forecast period, reaching a market size of USD 2.10 million in 2024.

 

Middle East and Africa Space Solar Panel And Array Market

According to Cognitive Market Research, the global Space Solar Panel And Array Market size was estimated at USD 261.2 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 5.22 million in 2024 and will grow at a compound annual growth rate (CAGR) of 22.0% from 2024 to 2031. Middle East and Africa (MEA), the space solar panel and array market, is gaining traction due to increasing investments in space exploration and satellite technologies by countries like the UAE and Saudi Arabia. The region's focus on diversifying their economies and leveraging space-based assets for communication, Earth observation, and scientific research is driving demand. Additionally, initiatives promoting renewable energy adoption and sustainability further propel the growth of the space solar panel and array market in the MEA.

• According to Cognitive Market Research, the GCC countries' space solar panels and array market size was valued at USD 2.24 million in 2024 and is projected to grow at a CAGR of 22.8% during the forecast period. Drivers include ambitious space programs launched by countries like the United Arab Emirates and Saudi Arabia, aiming for satellite deployments for communication, Earth observation, and scientific research.
• The Egypt Space Solar Panel And Array Market is projected to grow at a CAGR of 22.3% during the forecast period and reach a market size of USD 0.55 million in 2024.
• The South Africa Space Solar Panel And Array Market is projected to witness growth at a CAGR of 23.0% during the forecast period, with a market size of USD 0.83 million in 2024. Initiatives by organizations like the South African National Space Agency (SANSA) aim to develop space infrastructure and satellite technology.
• The Turkey Space Solar Panel And Array Market is projected to grow at a CAGR of 21.5% during the forecast period, reaching a market size of USD 0.45 million in 2024.
• The Nigerian space Solar Panel And Array Market is projected to grow at a CAGR of 21.1% during the forecast period, reaching a market size of USD 0.55 million in 2024.
• The Rest of the MEA Space Solar Panel And Array Market is projected to grow at a CAGR of 21.0% during the forecast period, reaching a market size of USD 0.62 million in 2024.

 

Space Solar Panel And Array Market Analysis

Space Solar Panel And Array Type Segment Analysis

Solar panels typically consist of individual photovoltaic cells arranged in a panel format to capture sunlight and convert it into electricity. These panels are typically used in smaller-scale applications such as satellites and small spacecraft.

Solar arrays are comprised of multiple solar panels arranged together to form a larger power-generating unit. Solar arrays are commonly utilized in larger spacecraft, space stations, and satellites requiring higher power output. Both solar panels and arrays play critical roles in powering various space missions, with panels offering flexibility in design and application, while arrays provide scalability and higher power output capabilities.

• Solar Panels
• Solar Array

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Space Solar Panel And Array Industry. Request a Free Sample PDF!

Space Solar Panel And Array Satellite Segment Analysis 

The small satellite segment within the space solar panel and array market is characterized by a growing demand for lightweight, compact, and efficient power solutions. Companies specializing in thin-film solar panels and deployable arrays are prominent players, offering products tailored to the unique requirements of small satellites. Advancements in materials and manufacturing processes drive enhancements in power generation and durability, positioning this segment for continued expansion and innovation.

In the Nanosatellite (1-10 kg) segment, the space solar panel and array market is characterized by a demand for lightweight, compact, and efficient power solutions. Thin-film solar panels and deployable arrays are favored due to size and weight constraints. Companies offering high-power-to-weight ratio panels are positioned for growth. Advancements in materials and manufacturing processes are anticipated to enhance product performance, driving market expansion for Nanosatellite-specific solar panels and arrays.

• Small Satelite
  • Nanosatelites (1-10 Kg)
  • Microsatelites (10-100 Kg)
  • Minisatelites (100-500 Kg)
  • Cubesat
• Medium Satelite
• Large Satelite

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Space Solar Panel And Array Orbit Segment Analysis

LEO, typically 160 to 2,000 kilometers above the Earth's surface, allows satellites to experience shorter communication delays and cover larger areas. This orbit is suitable for applications requiring high-resolution imaging, Earth observation, and satellite communication. Solar panels and arrays designed for LEO must withstand radiation and debris while maximizing energy generation efficiency.

MEO orbits, which lie between LEO and geostationary orbit (GEO), typically range from 2,000 to 35,786 kilometers above Earth. Satellites in MEO provide global positioning and navigation services, such as GPS, as well as broadband communication. Solar panels for MEO orbits require robust construction to endure the harsh radiation environment while maintaining consistent power output over prolonged periods. Understanding the specific demands of each orbit type is crucial for developing efficient and reliable space solar panel and array solutions.

• Leo Orbit
• Meo Orbit
• Geo Orbit

Author's Detail

Manoj Phagare

Senior Research Analyst at Cognitive Market Research

LinkedIn

Profile

• Worked on several market, industry & business research projects, on various models such as Syndicated, Custom, Subscriptions and Consults
• Proficient in secondary research and familiar with all paid research databases
• Proficient in primary research and handling client queries through mails and calls
• Expertise in statistical techniques used in data forecasting, possess strong grip on all aspects of market engineering & data analysis
• Expertise in checking feasibility of projects based on Request for Proposal (RFPs) of clients
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• Gained team-work skills in coordinating with the sales teams for business development and meeting needs of a variety of clients hand-in-hand with promoting sales.

Author's Conclusion