Space Power Electronics Market By Component (Power Converters, Power Distribution Units, Power Management Integrated Circuits), By End-Use Application (Satellites, Space Probes & Rovers, Launch Vehicles, Space Stations), By Technology (High-Efficiency Power Electronics, Radiation-Hardened Power Electronics), By Product Type (DC-DC Converters, AC-DC Converters, Voltage Regulators, Inverters), By Material (Silicon-Based Power Electronics, Wide Bandgap Power Electronics); Global Insights & Forecast (2024 - 2030)

As per Intent Market Research, the Space Power Electronics Market was valued at USD 2.3 Billion in 2024-e and will surpass USD 5.3 Billion by 2030; growing at a CAGR of 14.7% during 2025 - 2030.

The space power electronics market plays a pivotal role in the space industry by providing essential power management solutions for various space applications, including satellites, space probes, and launch vehicles. These power electronics systems ensure the efficient conversion, distribution, and regulation of electrical power in the demanding environments of outer space. As space exploration and satellite operations continue to grow, the demand for advanced power electronics capable of operating under extreme conditions, such as radiation exposure and wide temperature variations, has surged. Space power electronics are essential in ensuring the smooth functioning of critical systems, including communication, navigation, and scientific instruments, on space missions.

The market is expected to experience robust growth due to advancements in space exploration missions, including deep space exploration and satellite constellations. As space agencies and private companies push the boundaries of space technology, the need for high-performance, reliable, and energy-efficient power electronics is becoming more pronounced. Moreover, the development of innovative technologies such as radiation-hardened power electronics and wide bandgap materials is opening new avenues for enhancing the performance and reliability of space systems. The continuous demand for more cost-effective and efficient power solutions is also fueling market expansion.

Power Converters Are the Largest Component in Space Power Electronics

Power converters dominate the space power electronics market due to their critical role in converting electrical energy from one form to another, ensuring the proper functioning of space systems. These devices are responsible for converting the power from the solar panels, batteries, or external sources into the correct voltage and current required by various onboard systems. Power converters are essential in satellites, space probes, and other space applications, as they help manage power distribution and ensure energy efficiency.

The largest demand for power converters comes from satellite applications, where they are integral to maintaining power stability and distribution across various satellite systems. In addition to satellites, power converters are also vital in space probes and rovers, where they manage power conversion for scientific instruments, communication systems, and propulsion systems. As space exploration continues to expand, the need for advanced power converters with high efficiency and reliability is expected to increase, making them the largest and most critical component in space power electronics.

Space Power Electronics Market Size

Satellites Drive the Largest End-Use Application in Space Power Electronics

Satellites represent the largest end-use application in the space power electronics market, driven by their widespread use in communications, earth observation, weather monitoring, and navigation. Satellites rely heavily on space power electronics to manage the electrical energy needed for their operation, including powering communication payloads, propulsion systems, and thermal control systems. The increasing number of satellite constellations and miniaturized satellite designs has contributed to the significant growth of this segment, with power electronics becoming an integral part of ensuring efficient energy management.

The demand for satellites, particularly small and medium-sized ones, continues to rise, especially as private companies and governmental organizations expand satellite services. These satellites require power electronics that are highly efficient and capable of withstanding the harsh conditions of space, including radiation. The growing trend of satellite constellations aimed at global internet connectivity further boosts the demand for space power electronics, making satellites the primary end-user application driving the market.

Radiation-Hardened Power Electronics are Critical for Space Applications

Radiation-hardened power electronics are expected to see significant growth due to their ability to withstand the harsh radiation environment in space. Space missions expose electronic components to various forms of radiation, which can damage or degrade the performance of standard electronic components. Radiation-hardened power electronics are designed to prevent failure and ensure the longevity and reliability of space systems operating in these extreme conditions. As space exploration missions move further into deep space, radiation-hardened electronics become essential to protect vital space systems from radiation-related damage.

These power electronics are crucial for both manned and unmanned missions, particularly in areas with high radiation exposure, such as beyond low Earth orbit (LEO). The growing focus on long-duration space missions, including Mars exploration and deep space research, is driving the need for radiation-hardened power electronics. This technology is not only important for space probes and rovers but also for satellites and space stations that must function reliably in space's challenging radiation environment.

North America Leads the Space Power Electronics Market

North America is the largest region in the space power electronics market, driven by significant investments in space technology by key players such as NASA, private aerospace companies like SpaceX, and major defense contractors. The region has long been a leader in space exploration, with extensive infrastructure supporting satellite launches, space probes, and other space missions. North America's dominance in the space industry is further bolstered by its advanced research and development in power electronics technology, particularly in radiation-hardened electronics and high-efficiency power systems.

As commercial space companies in the U.S. continue to push the boundaries of space exploration, the demand for reliable and efficient space power electronics is expected to grow. The region's strong aerospace and defense sector, coupled with the rapid advancements in satellite and space station technologies, ensures that North America will remain the largest market for space power electronics. The increasing number of satellite constellations, as well as government-backed deep space exploration projects, will continue to drive demand for advanced power electronics solutions in this region.

Space Power Electronics Market Size by Region 2030

Competitive Landscape in the Space Power Electronics Market

The space power electronics market is highly competitive, with a mix of established players and emerging companies focused on advancing technology to meet the evolving needs of space applications. Key players in the market include Honeywell International Inc., Maxar Technologies, Teledyne Technologies, Northrop Grumman, Broadcom, and STMicroelectronics, among others. These companies are at the forefront of developing cutting-edge power electronics solutions that cater to the unique challenges of space environments.

Competition in the space power electronics market is driven by the need for innovation in radiation-hardened components, high-efficiency power systems, and miniaturized electronics for small satellite applications. The market is also witnessing collaborations between space agencies, commercial aerospace companies, and electronics manufacturers to develop more efficient and cost-effective power solutions. As space exploration expands, especially in areas like lunar missions and Mars exploration, the competition will intensify, with companies focusing on providing high-performance, reliable, and adaptable power electronics to meet the demands of space missions.

List of Leading Companies:

  • Honeywell International Inc.
  • Northrop Grumman Corporation
  • Lockheed Martin Corporation
  • Airbus Defence and Space
  • Thales Group
  • Maxar Technologies
  • Boeing
  • SpaceX
  • Harris Corporation
  • Rockwell Collins
  • Sierra Nevada Corporation
  • Mitsubishi Electric Corporation
  • L3Harris Technologies
  • Sundyne
  • Aerojet Rocketdyne

 

Recent Developments:

  • Northrop Grumman delivered new radiation-hardened power electronics for a Mars exploration mission in January 2025.
  • Lockheed Martin successfully tested a high-efficiency power management system for a satellite application in December 2024.
  • Honeywell introduced an advanced power distribution unit for space applications in November 2024.
  • Boeing received a contract to provide power electronics for NASA's upcoming space mission in October 2024.
  • Maxar Technologies developed a new high-efficiency power converter for space communication systems in September 2024.

Report Scope:

Report Features

Description

Market Size (2024-e)

USD 2.3 Billion

Forecasted Value (2030)

USD 5.3 Billion

CAGR (2025 – 2030)

14.7%

Base Year for Estimation

2024-e

Historic Year

2023

Forecast Period

2025 – 2030

Report Coverage

Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments

Segments Covered

Space Power Electronics Market By Component (Power Converters, Power Distribution Units, Power Management Integrated Circuits), By End-Use Application (Satellites, Space Probes & Rovers, Launch Vehicles, Space Stations), By Technology (High-Efficiency Power Electronics, Radiation-Hardened Power Electronics), By Product Type (DC-DC Converters, AC-DC Converters, Voltage Regulators, Inverters), By Material (Silicon-Based Power Electronics, Wide Bandgap Power Electronics)

Regional Analysis

North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)

Major Companies

Honeywell International Inc., Northrop Grumman Corporation, Lockheed Martin Corporation, Airbus Defence and Space, Thales Group, Maxar Technologies, SpaceX, Harris Corporation, Rockwell Collins, Sierra Nevada Corporation, Mitsubishi Electric Corporation, L3Harris Technologies, Aerojet Rocketdyne

Customization Scope

Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements

1. Introduction

   1.1. Market Definition

   1.2. Scope of the Study

   1.3. Research Assumptions

   1.4. Study Limitations

2. Research Methodology

   2.1. Research Approach

      2.1.1. Top-Down Method

      2.1.2. Bottom-Up Method

      2.1.3. Factor Impact Analysis

  2.2. Insights & Data Collection Process

      2.2.1. Secondary Research

      2.2.2. Primary Research

   2.3. Data Mining Process

      2.3.1. Data Analysis

      2.3.2. Data Validation and Revalidation

      2.3.3. Data Triangulation

3. Executive Summary

   3.1. Major Markets & Segments

   3.2. Highest Growing Regions and Respective Countries

   3.3. Impact of Growth Drivers & Inhibitors

   3.4. Regulatory Overview by Country

4. Space Power Electronics Market, by Component (Market Size & Forecast: USD Million, 2023 – 2030)

   4.1. Power Converters

   4.2. Power Distribution Units

   4.3. Power Management Integrated Circuits (PMICs)

5. Space Power Electronics Market, by End-Use Application (Market Size & Forecast: USD Million, 2023 – 2030)

   5.1. Satellites

   5.2. Space Probes & Rovers

   5.3. Launch Vehicles

   5.4. Space Stations

6. Space Power Electronics Market, by Technology (Market Size & Forecast: USD Million, 2023 – 2030)

   6.1. High-Efficiency Power Electronics

   6.2. Radiation-Hardened Power Electronics

7. Space Power Electronics Market, by Product Type (Market Size & Forecast: USD Million, 2023 – 2030)

   7.1. DC-DC Converters

   7.2. AC-DC Converters

   7.3. Voltage Regulators

   7.4. Inverters

8. Space Power Electronics Market, by Material (Market Size & Forecast: USD Million, 2023 – 2030)

   8.1. Silicon-Based Power Electronics

   8.2. Wide Bandgap Power Electronics

9. Regional Analysis (Market Size & Forecast: USD Million, 2023 – 2030)

   9.1. Regional Overview

   9.2. North America

      9.2.1. Regional Trends & Growth Drivers

      9.2.2. Barriers & Challenges

      9.2.3. Opportunities

      9.2.4. Factor Impact Analysis

      9.2.5. Technology Trends

      9.2.6. North America Space Power Electronics Market, by Component

      9.2.7. North America Space Power Electronics Market, by End-Use Application

      9.2.8. North America Space Power Electronics Market, by Technology

      9.2.9. North America Space Power Electronics Market, by Product Type

      9.2.10. North America Space Power Electronics Market, by Material

      9.2.11. By Country

         9.2.11.1. US

               9.2.11.1.1. US Space Power Electronics Market, by Component

               9.2.11.1.2. US Space Power Electronics Market, by End-Use Application

               9.2.11.1.3. US Space Power Electronics Market, by Technology

               9.2.11.1.4. US Space Power Electronics Market, by Product Type

               9.2.11.1.5. US Space Power Electronics Market, by Material

         9.2.11.2. Canada

         9.2.11.3. Mexico

    *Similar segmentation will be provided for each region and country

   9.3. Europe

   9.4. Asia-Pacific

   9.5. Latin America

   9.6. Middle East & Africa

10. Competitive Landscape

   10.1. Overview of the Key Players

   10.2. Competitive Ecosystem

      10.2.1. Level of Fragmentation

      10.2.2. Market Consolidation

      10.2.3. Product Innovation

   10.3. Company Share Analysis

   10.4. Company Benchmarking Matrix

      10.4.1. Strategic Overview

      10.4.2. Product Innovations

   10.5. Start-up Ecosystem

   10.6. Strategic Competitive Insights/ Customer Imperatives

   10.7. ESG Matrix/ Sustainability Matrix

   10.8. Manufacturing Network

      10.8.1. Locations

      10.8.2. Supply Chain and Logistics

      10.8.3. Product Flexibility/Customization

      10.8.4. Digital Transformation and Connectivity

      10.8.5. Environmental and Regulatory Compliance

   10.9. Technology Readiness Level Matrix

   10.10. Technology Maturity Curve

   10.11. Buying Criteria

11. Company Profiles

   11.1. Honeywell International Inc.

      11.1.1. Company Overview

      11.1.2. Company Financials

      11.1.3. Product/Service Portfolio

      11.1.4. Recent Developments

      11.1.5. IMR Analysis

    *Similar information will be provided for other companies 

   11.2. Northrop Grumman Corporation

   11.3. Lockheed Martin Corporation

   11.4. Airbus Defence and Space

   11.5. Thales Group

   11.6. Maxar Technologies

   11.7. Boeing

   11.8. SpaceX

   11.9. Harris Corporation

   11.10. Rockwell Collins

   11.11. Sierra Nevada Corporation

   11.12. Mitsubishi Electric Corporation

   11.13. L3Harris Technologies

   11.14. Sundyne

   11.15. Aerojet Rocketdyne

12. Appendix

A comprehensive market research approach was employed to gather and analyze data on the Space Power Electronics Market In the process, the analysis was also done to analyze the parent market and relevant adjacencies to measure the impact of them on the Space Power Electronics Market The research methodology encompassed both secondary and primary research techniques, ensuring the accuracy and credibility of the findings.

Research Approach -

Secondary Research

Secondary research involved a thorough review of pertinent industry reports, journals, articles, and publications. Additionally, annual reports, press releases, and investor presentations of industry players were scrutinized to gain insights into their market positioning and strategies.

Primary Research

Primary research involved conducting in-depth interviews with industry experts, stakeholders, and market participants across the E-Waste Management ecosystem. The primary research objectives included:

  • Validating findings and assumptions derived from secondary research
  • Gathering qualitative and quantitative data on market trends, drivers, and challenges
  • Understanding the demand-side dynamics, encompassing end-users, component manufacturers, facility providers, and service providers
  • Assessing the supply-side landscape, including technological advancements and recent developments

Market Size Assessment

A combination of top-down and bottom-up approaches was utilized to analyze the overall size of the Space Power Electronics Market These methods were also employed to assess the size of various subsegments within the market. The market size assessment methodology encompassed the following steps:

  1. Identification of key industry players and relevant revenues through extensive secondary research
  2. Determination of the industry's supply chain and market size, in terms of value, through primary and secondary research processes
  3. Calculation of percentage shares, splits, and breakdowns using secondary sources and verification through primary sources

Bottom Up and Top Down -

Data Triangulation

To ensure the accuracy and reliability of the market size, data triangulation was implemented. This involved cross-referencing data from various sources, including demand and supply side factors, market trends, and expert opinions. Additionally, top-down and bottom-up approaches were employed to validate the market size assessment.

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