The report “Satellite Solar Cell Materials Market by Material Type (Silicon, Copper Indium Gallium Selenide (CIGS), Gallium Arsenide (GaAs)), Application (Satellite, Rovers, Space Stations), Orbit (LEO, MEO, GEO, HEO, Polar Orbit), & Region – Global Forecast to 2030″, which is expected to reach USD 96 million by 2030 from USD 44 million in 2024 and grow at a CAGR of 13.7%, is important to powering a variety of space missions. While silicon remains the industry leader due to its low cost and known technology, advances in materials such as GaAs, Germanium multi-junction cells promise improved efficiency and radiation resistance. The market meets the diverse requirements of different satellites, ranging from low-cost options for cube satellites to high-performance materials for deep space research. However, issues such as high material costs and the need to balance efficiency, cost, and durability persist. As R&D efforts continue, the future of the satellite solar cell materials market is bright, with advancements in materials science and technology holding the key to unlocking its full potential and powering the next generation of space exploration.
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- 181 Market data Tables
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- 238 Pages and in-depth TOC on “Satellite Solar Cell Materials Market – Global Forecast to 2030”
Some of the prominent key players are:
· SPECTROLAB (US)
· AZUR SPACE Solar Power GmbH (Germany)
· ROCKET LAB USA (US)
· Sharp Corporation (Japan)
· CESI S.p.A (Italy)
· Thales Alenia Space (France)
· AIRBUS (France)
· MicroLink Devices, Inc. (US)
· Mitsubishi Electric Corporation (Japan)
· Northrop Grumman (US)
Driver: Rising Space Exploration and Satellite Deployment
The rising tide of space exploration and satellite deployment is a major driver of the satellite solar cell materials market. A 2023 blog published by the Union of Concerned Scientists stated, in 2022, the global count of operational satellites orbiting Earth reached 6,718, signifying a remarkable surge of nearly 2,000 satellites within a single year. As more nations and commercial groups invest in space exploration, the need to launch satellites for communication, navigation, Earth observation, and scientific study grows. This boom in satellite deployments closely correlates with increased demand for solar cell materials, which serve as the major power source for satellites in orbit. Furthermore, advances in satellite technology and propulsion systems make launches more frequent and cost-effective, increasing demand for solar cell materials. Furthermore, the rise of new applications such as satellite-based internet services and remote sensing increases the need for efficient and reliable power production systems, increasing increased demand for solar cell materials.