Space-based Solar Power Market Summary

The global space-based solar power market size was estimated at USD 634.9 million in 2024 and is projected to reach USD 1.05 billion by 2030, growing at a compound annual growth rate (CAGR) of 8.5% from 2025 to 2030. Space-based solar power (SBSP) refers to the process of collecting solar energy in space through specially designed solar power satellites and transmitting it wirelessly to receiving stations on Earth. This emerging technology presents a promising solution for generating clean, uninterrupted power, regardless of weather or time of day.

The solar energy collected in outer space can be applied to a wide range of uses, including terrestrial electricity generation and powering various space-based infrastructures. It plays a vital role in enabling the operation of satellites, spacecraft, planetary rovers, and other orbital systems by providing a sustainable and long-lasting energy source. With the ability to operate for extended durations without the need for refueling or reliance on limited onboard energy storage, SBSP offers a strategic advantage in long-duration missions and permanent space stations.

Key Market Trends & Insights

  • In 2024, North America dominated the global space-based solar power market, accounting for a substantial 41.4% share of total market revenue. This regional dominance is attributed to strong investments in space exploration, the presence of leading aerospace agencies such as NASA, and extensive research into wireless energy transmission technologies. The growing interest in achieving energy security through advanced clean energy solutions is also driving the adoption of SBSP in the region.
  • The space-based solar power market in the United States is expected to witness significant growth during the forecast period, fueled by increasing governmental and private sector investments, robust R&D activities, and initiatives promoting alternative energy systems for both defense and civilian applications. National policies encouraging technological innovation and energy independence further support the U.S. market expansion.
  • In Europe, the growth of the SBSP market is primarily driven by the rising demand for clean and renewable energy sources. The region's commitment to reducing greenhouse gas emissions and achieving ambitious climate goals under policies such as the European Green Deal has spurred interest in innovative energy technologies like SBSP. Continuous advancements in solar panel efficiency, wireless power transmission, and energy conversion are enhancing the feasibility and commercial viability of space-based solar power across European countries.
  • The Asia-Pacific region is emerging as one of the fastest-growing markets for space-based solar power, owing to increasing investments and expanding R&D activities. Countries like China, Japan, and India are actively exploring SBSP technologies as part of their national energy and space strategies. The region's large and growing population, rising energy consumption, and expanding space programs create favorable conditions for SBSP development. Collaborations between government space agencies and private enterprises are accelerating innovation in the region.
  • By satellite type, the microwave transmission segment accounted for the highest revenue share in 2024, representing 71.5% of the market. Microwave-based SBSP systems utilize microwave beams to transmit collected solar energy from orbiting satellites to receiving antennas on Earth. This method offers high transmission efficiency and reduced power loss over long distances, making it the preferred technology for space-based energy transfer.
  • By application, the electricity generation segment dominated the market in 2024, capturing the largest share of 73.9%. Space-based solar power is increasingly viewed as a viable solution for augmenting terrestrial electricity supply, especially in remote or disaster-affected regions where traditional grid connectivity is limited. The ability to supply consistent, clean energy from space offers a significant advantage in achieving global energy transition goals.

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Market Size & Forecast

  • 2024 Market Size: $634.9 Million
  • 2030 Estimated Market Size: $1.05 Billion
  • CAGR: 8.5% (2025-2030)
  • North America: Largest market in 2024
  • Asia Pacific: Fastest growing region

Key Companies & Market Share Insights

Key players operating in the space-based solar power market are undertaking various initiatives to strengthen their presence and increase the reach of their products and services. Strategies such as expansion activities and partnerships are key in propelling the market growth.

Key Players

  • AZUR SPACE Solar Power GmbH
  • Fralock LLC
  • Japan Aerospace Exploration Agency
  • Northrop Grumman
  • Solaren Corporation
  • SpaceTech GmbH
  • Airbus
  • OHB SE
  • Canada's Space Innovators
  • DHV Technology

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Conclusion

The global space-based solar power market is poised for steady growth through 2030, driven by the increasing need for clean, continuous, and renewable energy solutions. As advancements in solar panel technology, wireless transmission, and satellite infrastructure improve the feasibility of SBSP, adoption is rising across North America, Europe, and Asia-Pacific. With its potential to support both space missions and terrestrial power needs, SBSP offers a promising alternative to conventional energy sources. The technology’s scalability, efficiency, and sustainability will play a critical role in addressing long-term energy security and climate goals, making it a key component of future global energy strategies.