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3. Space-Based Solar Power Companies - Airbus (Netherlands) and Northrop Grumman (US) are the Key Players

The market for the Space-Based Solar Power market is expected to grow rapidly, reaching USD 6.8 billion by 2040, from USD 4.7 billion in 2030, at a CAGR of 3.3%.

Space-Based Solar Power represents a groundbreaking innovation in renewable energy technology, centered on harnessing solar energy directly from space and transmitting it to Earth for commercial use. Unlike conventional terrestrial solar systems, Space-Based Solar Power leverages satellites or spacecraft outfitted with solar panels to capture solar radiation in the unimpeded expanse of space. The fundamental concept of Space-Based Solar Power involves the collection of solar energy in orbit, its conversion into electrical power via photovoltaic cells, and subsequent transmission to Earth utilizing microwave power transmission or laser beam power transmission. Upon reception on the ground, the transmitted energy can be efficiently converted into electricity or other viable energy forms. This pioneering approach presents lucrative opportunities for businesses seeking sustainable energy solutions, offering the potential for significant market penetration and competitive advantage in the burgeoning renewable energy sector.

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Major Space-Based Solar Power companies include:

• Airbus (Netherlands)
• Northrop Grumman (US)
• OHB SE (Germany)
• Thales Alenia Space (France)
• Boeing (US)
• EMROD (New Zealand)

Key players in the market are actively pursuing research and development initiatives to advance Space-Based Solar Power technologies. These players are Airbus (Netherlands), Northrop Grumman (US), OHB SE (Germany), Thales Alenia Space (France) and Boeing (US) among others.

Airbus (Netherlands)

Airbus, a global leader in space exploration and satellite imagery, provides interoperable and collaborative solutions in land, air, sea, space, and cyber market. As of 2022, the company has a workforce of 134,267 employees. The company provides products, services, and solutions through three major segments: Airbus (Commercial Aircraft segment), Airbus Helicopters, and Airbus Defense & Space, which offers innovative and effective space and defense solutions and services to its customers. Airbus has a presence across regions Asia Pacific, Europe, North America, the Middle East, and Latin America. The company provides automated transfer vehicles, the Orion European service module, Columbus (ISS module), Ariane (Rocket family), Eurostar (Satellite bus), ExoMars rover, and rocket engines (HM7B, Aestus, Vinci, Vulcan, and high priority hydrazine).

Northrop Grumman (US)

Northrop Grumman is a global aerospace & defense technology company that operates through 4 different business segments, namely, aerospace systems, innovation systems, mission systems, and space systems, having an employee force of 98,000 as of 2022. It provides electronic warfare products and solutions through its mission systems segment. Northrop Grumman is a prime contractor for high-priority defense and government service technology programs in the US. It also conducts business with local, state, and foreign governments, along with international customers in the commercial sector. Space Logistics, a wholly owned subsidiary of Northrop Grumman, offers collaborative space logistics and in-orbit servicing solutions to geosynchronous satellite operators. They operate a fleet of commercial servicing vehicles, including the Mission Extension Vehicle, Mission Robotic Vehicle, and Mission Extension Pods, providing comprehensive support to satellite operations in space. Northrop Grumman maintains its presence in 25 nations and has offices in Australia, UK, France, Germany, Italy, Poland, the Netherlands, Japan, Saudi Arabia, South Korea, and UAE. Some of its key subsidiaries include Northrop Grumman Aviation, Inc. (Canada), Northrop Grumman Electronic Systems International Company (UK), Northrop Grumman Overseas Holdings Inc. (Ireland), Northrop Grumman Space Operations (US), and Northrop Grumman Tactical Systems (US).

OHB SE (Germany)

OHB SE initially started as a marine technology company before transitioning into space technology. The company is engaged in the development and manufacture of satellites for Earth observation, navigation, telecommunications, science, and space exploration. It also works on human spaceflight, launchers, and other related areas. OHB operates through. The company has three business segments: Space Systems, which focuses on developing and executing customized satellite systems and associated services, Aerospace + Industrial Products, which focuses on business activities in the aerospace and industrial sectors and Digital, which focuses on ground-based space systems, digital applications based on satellite data as well as information technology and cybersecurity. OHB integrates the technologies from top national and international firms to craft innovative solutions.

Thales Alenia Space (France)

Thales Alenia Space, a collaborative enterprise between Thales (67%) and Leonardo (33%), stands as a prominent global space manufacturer with over four decades of experience in delivering cutting-edge solutions across various domains, including telecommunications, navigation, Earth Observation, environmental management, exploration, science, and orbital infrastructures. Leveraging a diverse spectrum of skills, talents, and cultures, the company empowers its clientele, comprising governments, institutions, space agencies, and telecommunications operators, to seamlessly Connect, Secure & Defend, Observe & Protect, Explore, Travel & Navigate through the vast expanse of space. In conjunction with Telespazio, Thales Alenia Space forms the Space Alliance, an alliance providing a comprehensive suite of solutions, including services. With operations spanning ten countries and 17 facilities strategically located in Europe, along with an industrial plant in the United States, the company is positioned as a pivotal player in the space industry. Governments, institutions, and enterprises place their trust in Thales Alenia Space for the conceptualization, operation, and delivery of satellite-based systems. These systems play a pivotal role in facilitating global positioning, connectivity, and observation capabilities, thereby optimizing the utilization of Earth's resources, and contributing to the sustainable development of our planet and the broader solar system. Thales Alenia Space envisions space as the new frontier for humankind, serving as a catalyst for building a better and more sustainable life on Earth.

Boeing (US)

Boeing, a preeminent global aerospace enterprise, specializes in the development, manufacturing, and servicing of commercial airplanes, defense products, and space systems for a clientele spanning over 150 nations. Functioning as a leading U.S. exporter, the company strategically harnesses the capabilities of a diverse global supplier network to propel economic opportunities, sustainability, and community impact. Boeing's multifaceted team is deeply dedicated to fostering innovation for the future, prioritizing sustainability, and nurturing a corporate culture anchored in the core values of safety, quality, and integrity. With an extensive legacy of aerospace leadership and innovation, the company persistently broadens its portfolio and services to address evolving customer requirements. Boeing operates through three distinct business units, namely Commercial Airplanes, Defense, Space & Security, and Boeing Global Services. Providing integral support to these units is Boeing Capital Corporation, a global entity specializing in delivering comprehensive financing solutions.

Related Reports:

Space-Based Solar Power Market by Beam Type (Laser Beam Power Transmission, Microwave Power Transmission), End Users (Government and Defense, Commercial), Application (Terrestrial, Space) and Region - Global Forecast to 2040

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