The global Space Solar Panel and Array market size is projected to reach USD 0.74 billion by 2029

Solar power generation is the predominant method of power generation on small spacecraft. As of 2020, approximately 85% of all nanosatellite form factor spacecraft were equipped with solar panels and rechargeable batteries. Limitations to solar cell use include diminished efficacy in deep-space applications, no generation during eclipse periods, degradation over mission lifetime (due to aging and radiation), high surface area, mass, and cost. In order to pack more solar cells into limited volume in SmallSats and NanoSats, mechanical deployment mechanisms can be added, which may increase spacecraft design complexity, reliability, as well as risks. Photovoltaic cells, or solar cells, are made from thin semiconductor wafers that produce electric current when exposed to light. The light available to a spacecraft solar array, also called solar intensity, varies as the inverse square of the distance from the Sun. The projected surface area of the panels exposed to the Sun also affects generation, and varies as a cosine of the angle between said panel and the Sun.

While single junction cells are cheap to manufacture, they carry a relatively low efficiency, usually less than 20%, and are not included in this report. Modern spacecraft designers favor multi-junction solar cells made from multiple layers of light-absorbing materials that efficiently convert specific wavelength regions of the solar spectrum into energy, thereby using a wider spectrum of solar radiation.

The Space Solar Panel and Array industry can be broken down into several segments, Space Solar Panel, Space Solar Array, etc.

Across the world, the major players cover SolAero Technologies, Spectrolab, DHV Technology, GomSpace, Innovative Solutions In Space (ISIS), NanoAvionics, MMA Design, LLC, Pumpkin, Inc., etc.

According to the new market research report “Global Space Solar Panel and Array Market Report 2023-2029”, published by GlobalInfoResearch, the global Space Solar Panel and Array market size is projected to reach USD 0.74 billion by 2029, at a CAGR of 16.2% during the forecast period.

• Global Space Solar Panel and Array MarketSize(US$ Million), 2018-2029

Source: GlobalInfoResearch, “Global Space Solar Panel and Array Market 2023 by Manufacturers, Regions, Type and Application, Forecast to 2029”.

• Global Space Solar Panel and Array Top8Players Ranking and Market Share（Based on data of 2021, Continually updated）

Source: GlobalInfoResearch, “Global Space Solar Panel and Array Market 2023 by Manufacturers, Regions, Type and Application, Forecast to 2029”.

The global key manufacturers of Space Solar Panel and Array include SolAero Technologies, Spectrolab, DHV Technology, GomSpace, NanoAvionics, etc. In 2021, the global top four players had a share approximately 90.0% in terms of revenue.

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