About Space-Based Solar Power
Space-based solar power (SBSP, SSP) is the concept of collecting solar power in outer space via solar power satellites (SPS) and distributing it to Earth. The sun is brighter outside the atmosphere and can shine all (or nearly all) of the day. Space-based solar power systems convert sunlight into another form of energy (similar to broilers) that can be transmitted through the atmosphere to receivers on the Earth's surface. It appeals to those seeking large-scale responses to anthropogenic climate change or reactionary energy reduction. Solar panel-equipped, energy-transmitting satellites collect high-intensity, continuous solar radiation by reflecting massive amounts of solar rays onto smaller solar collectors via giant mirrors. This radiation is then wirelessly transmitted to Earth as a microwave or laser beam in a safe and controlled manner.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
The market for Space-Based Solar Power is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as product innovation and using various marketing strategies to gain a higher market share Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Space-Based Solar Power market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Tesla (United States), Sunpower (United States), Zenernet (United States), Sunlux (United States), Sunrun (United States), Sungevity (United States), Trinity Solar (United States), Solaero Technologies Corporation (United States), ADT Solar (India) and Momentum Solar (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Spacetech Gmbh (Germany), The Boeing Company (United States) and Solaren Corporation (United States).
Segmentation Overview
AMA Research has segmented the market of Global Space-Based Solar Power market by Type (Microwave-transmitting satellites and Laser-transmitting satellites), Application (Space and Earth) and Region.
On the basis of geography, the market of Space-Based Solar Power has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Design, the sub-segment i.e. Microwave power transmission will boost the Space-Based Solar Power market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Equipment, the sub-segment i.e. Solar Collector will boost the Space-Based Solar Power market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Advance Technology In Solar Power Energy
Market Growth Drivers:
Increase In Demand For Electricity From Developed And Developing Countries and Growing Demand Of Sustainable Energy For National Project
Challenges:
The Space Environment Is Violent and The High Cost Of Launching A Satellite Into Space
Restraints:
High Cost Of Space – Based Solar Power
Opportunities:
Improving Technology In Space- Based Solar Power By Research And Development and Increase In Investment Of Sustainable Power Energy
Market Leaders and their expansionary development strategies
On 18 Jan 2022 Rocket Lab Closes Acquisition of Space Solar Power Products Company SolAero Holdings, Inc. The acquisition is consistent with Rocket Lab's vertical integration growth strategy, which aims to provide a comprehensive space solution that includes spacecraft manufacturing, satellite subsystems, flight software, ground operations, and launch. As one of only two companies in the United States producing high-efficiency, space-grade solar cells.
On 8 June 2022 China wants to build a space-based solar power plant that will beam energy back to Earth. China aims to launch a satellite that will convert solar energy into electricity, which will then be converted into microwaves or lasers and transmitted to various fixed targets on Earth. This satellite would convert solar energy into electricity, which would then be converted into microwaves or lasers and transmitted to various fixed targets on Earth. This can then be converted back into electricity and used to power the planet. This project will only produce 10 kilowatts, which will only power a few homes. This proof-of-concept, however, has the potential to be scaled up to become a significant power source.
(The California Public Utilities Commission approved the contract on April 10, 2009.) The law appears to be fairly stringent; that is, Section 399.15 of the California Public Utilities Code requires that the specified purchase levels "are procured from eligible renewable energy resources." Further, a report published by the California Energy Commission discusses the risks of signed renewable energy contracts failing to meet the timelines in the contracts. The report notes that "this risk of contract failure could cause individual load-serving entities, or entire states, to fall short of their renewable energy targets." The report suggests that companies anticipate a contract failure rate of 20 to 30 percent. This leads to the conclusion that simply because a company has a contract in place to procure renewable energy, the contract will not, by itself, satisfy the regulation unless it is actually procured.
Key Target Audience
Space-Based Solar Power Manufacturer, Space-Based Solar Power Provider, Research & Development Authority, Government Bodies, Corporate Entities and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.