As humanity enters a new era of space exploration, powering missions beyond Earth is emerging as one of the most critical technological challenges. From low-Earth orbit (LEO) satellites to lunar habitats and deep space probes, the demand for robust, efficient, and scalable energy systems is surging.
According to BIS Research, the space power supply market, valued at approximately $9.45 billion in 2024, is poised for steady growth over the next decade. According to projections for the 2024–2034 forecast period, the market is expected to reach around $14.79 billion by 2034, reflecting a compound annual growth rate (CAGR) of 4.58%. This upward trajectory underscores the rising demand for advanced power solutions to support an expanding range of space missions, satellite deployments, and deep-space exploration initiatives.
Satellites Fueling the Demand Surge
One of the core growth drivers is the increasing deployment of satellites for communication, surveillance, Earth observation, and scientific research. The miniaturization of spacecraft—especially CubeSats and SmallSats has opened new markets but also introduced complex energy requirements. These small platforms demand lighter, high-efficiency power systems that can function in harsh orbital environments.
As satellite constellations expand, particularly those supporting global internet coverage and defense systems, demand for compact, low-cost, and long-duration power solutions is projected to accelerate.
Smarter Solar: A New Dawn in Orbital Photovoltaics
Solar power remains the primary energy source for most spacecraft. However, modern missions require more than just static panels. Innovations like Roll-Out Solar Array (ROSA) technology have revolutionized the field, offering flexible, lightweight, and high-output solar systems that reduce launch costs and boost performance (NASA).
These next-generation arrays are especially critical for LEO satellites and deep-space rovers, where every gram and watt count.
Batteries and Energy Storage Take Center Stage
Solar systems alone aren’t sufficient. To ensure continuous operations, especially during orbital eclipses or planetary nights, advanced energy storage systems are indispensable. Lithium-ion remains dominant, but solid-state and lithium-sulfur batteries are emerging as alternatives with higher safety and energy density.
For example, EaglePicher has supplied key battery components for NASA’s Artemis I mission, providing backup power for the Orion spacecraft and Space Launch System’s critical systems (BusinessWire).
Going Nuclear: Powering the Dark Corners of Space
For missions venturing into the outer solar system or requiring long-term energy reliability, solar power is not enough. Nuclear-based systems like the Multi-Mission Radioisotope Thermoelectric Generator (MMRTG) have proven invaluable. Used in NASA’s Mars Perseverance rover, MMRTGs provide both heat and electricity from decaying plutonium, a technology with a decades-long track record of performance (NASA MMRTG).
As future missions explore the icy moons of Jupiter or the permanently shadowed regions of the Moon, nuclear power will become increasingly indispensable.
Space-Based Solar Power: From Sci-Fi to Strategic Asset
A transformative concept gaining momentum is Space-Based Solar Power (SBSP), harvesting solar energy in orbit and transmitting it to Earth via microwave or laser beams. The European Space Agency’s Solaris project is exploring this path, with the potential to supply clean, uninterrupted energy to the grid and help meet EU climate goals (ESA).
Meanwhile, startups like Aetherflux aim to deploy satellite constellations that beam energy to remote Earth regions, using lasers instead of traditional transmission infrastructure (Business Insider).
Lunar Ambitions and Global Alliances
Space power is now a geopolitical lever. China and Russia are planning a nuclear-powered facility on the Moon to support their proposed International Lunar Research Station (ILRS), a permanent manned base relying on solar and nuclear energy for long-term habitation and research (Reuters).
Such initiatives demonstrate how space power supply has become fundamental to national strategy, deeptech development, and international collaboration.
Energy as the Foundation of Space Innovation
The evolution of power systems is central to enabling humanity’s long-term presence in space. Whether through lightweight solar panels, advanced batteries, or nuclear modules, power is the foundation on which all space systems operate.
As innovation accelerates and public-private partnerships grow, the space power supply market is poised not just to support space missions, but to shape the very architecture of the future space economy.
About the Publisher: BIS Research is a global market intelligence, research and advisory company that focuses on emerging technology trends that are likely to disrupt the market. Its team includes industry veterans, experts, and analysts with diverse backgrounds in consulting, investment banking, government, and academia.
