Satellite Solar Cell Materials Market Size, Share, Trends, Demand, Growth, Challenges & Review

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Satellite Solar Cell Materials Market CAGR of
13.7 by 2030 Size, Trends, Demand, Growth,
Challenges, Latest Insights, Analysis and
Competitive Outlook The satellite solar cell
materials market is projected to reach USD 96
million by 2030, at a CAGR of 13.7 from USD 44
million in 2024. The satellite solar cells
materials market is driven by the rising
deployment of satellites for communication,
navigation, remote sensing, and scientific
investigation is driving up demand for efficient
and dependable solar cell materials to power
these space-based platforms. Download PDF
Brochure at https//www.marketsandmarkets.com/pdfd
ownloadNew.asp?id629 90349 Browse 181 market
data Tables and 50 Figures spread through 238
Pages and in-depth TOC on "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"
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• Recent Developments in Satellite Solar Cell
  Materials Market Industry
• CESI S.p.A made an agreement with Italian Space
  Agency (August 2023) Italian multinational CESI
  and the Italian Space Agency have entered into a
  significant agreement valued at over USD 14.06
  Million to support the Space Factory project.
  With the agreement, CESI is poised to expand its
  production capacity for solar cells designed for
  space satellites.
• Thales Alenia Space (February 2023) launches a
  product Thales Alenia Space recently concluded
  the assembly and testing phase for an engineering
  model of the solar array designed for their Space
  INSPIRE product line.
• ROCKET LAB USA (March 2022) launches a product
  Aerospace
• manufacturer and small satellite launch company,
  Rocket Lab introduced a novel space-grade solar
  cell derived from the cell technology pioneered
  by Solero, a space solar cell manufacturer
  acquired by Rocket Lab.
• Airbus invests in Solestial (October 2022)
  Solestial, a Tempe, Arizona- based company
  specializing in solar energy solutions for space
• applications, successfully concluded a funding
  round, securing USD 10 million in investments
  with Airbus Ventures taking the lead.
• ROCKET LAB USA Acquires SolAero Holdings, Inc.
  (January 2022) Rocket Lab USA, Inc. successfully
  finalized the previously disclosed acquisition of
  SolAero Holdings, Inc. (SolAero).
• AZUR SPACE Power GmbH acquired by 5N Plus
  (November 2021) 5N Plus, a prominent global
  manufacturer of specialty semiconductors and
  performance materials, successfully completed the
  acquisition of AZUR SPACE Solar Power GmbH.

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.asp?id6 2990349 Based on material Types, the
satellite solar cell materials market has been
segmented into Silicon, Copper Indium Gallium
Selenide (CIGS), Gallium Arsenide (GaAs), and
other material types. Silicon accounted for the
largest share, in terms of value, of the global
market in 2024. Silicon material type has the
greatest market share in the satellite solar cell
materials market, owing to its long-standing
reliability, efficiency, and cost- effectiveness.
Silicon-based solar cells have been widely used
in satellite applications for decades due to
their proven track record of performance in
space. Furthermore, silicon's abundance and
established manufacturing infrastructure help to
drive its wider acceptance, allowing for
economies of scale and reduced production costs
when compared to other materials. Furthermore,
continued breakthroughs in silicon-based solar
cell technology, such as increased efficiency and
radiation resistance, help to solidify its
position as the favored alternative for satellite
power generation. As a result, silicon material
type maintains its dominance in the satellite
solar cell materials market, owing to its
combination of dependability, performance, and
cost effectiveness. Based on Application, the
satellite solar cell materials market has been
segmented into Satellite, Rovers, Space Stations
and other applications. Satellite, accounted for
the largest share, in terms of value, of the
global market in 2024. In Satellite
applications, Satellite applications dominate the
satellite solar cell materials market due to
their widespread use in a variety of industries
and sectors. Satellites have critical roles in
communication, navigation, weather forecasting,
earth observation, scientific research, and
defence, among other applications. The expanding
demand for satellite-based services, such as
telecommunications, television, and remote
sensing, is pushing the need for dependable and
efficient power production systems to keep these
satellites in orbit. Solar cells provide a
dependable and renewable source of energy for
satellites, allowing for extended missions and
operations in orbit. Furthermore, advances in
satellite technology, such as miniaturization and
the construction of small satellites (CubeSats),
are broadening the application area and
increasing the use of solar cells for power
generation. Based on Orbit, the satellite solar
cell materials market has been segmented into Low
Earth Orbit (LEO), Medium Earth Orbit (MEO),
Geostationary Orbit (GEO), Highly Elliptical
Orbit (HEO), Polar Orbit. Polar Orbit accounted
for the largest share, in terms of value, of the
global market in 2024.
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Speak to Expert https//www.marketsandmarkets.com
/speaktoanalystNew.asp ?id62990349 Polar orbit
in the orbit sector has a significant market
share in the solar cell materials market due to a
variety of causes. Polar orbiting satellites
travel from pole to pole, giving vast worldwide
coverage and enabling a wide range of critical
applications such as Earth observation,
environmental monitoring, and reconnaissance.
These spacecrafts frequently require solar cells
with high efficiency and durability to resist
extended exposure to various orbital
circumstances, such as variable levels of solar
radiation and temperature swings. Furthermore,
polar orbit satellites are commonly used in
scientific research missions, space exploration,
and surveillance activities, increasing the
demand for sophisticated solar cell materials
that can meet strict performance
standards. North America has the greatest market
share in the satellite solar cell materials
industry due to a variety of factors. To begin,
North America has a thriving space industry, with
many top satellite makers, space agencies, and
research institutions based there. Companies in
the region are at the cutting edge of satellite
technology development, fueling innovation and
demand for innovative solar cell materials.
Furthermore, North America is home to a wide
variety of satellite applications, including
communication, remote sensing, navigation, and
scientific research, all of which rely largely on
solar energy. The region's robust economic
growth, along with government initiatives to
encourage space exploration and satellite
deployment, accelerates market expansion.
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Satellite Solar Cell Materials Market Key
Players The key players in this market are 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), etc.