Inflatable membrane structures are the state-of-the-art fast evolving space structures owing to its inherent advantages such as lightweight, higher packaging efficiency along with ease of deployment. The membrane reflectors need to be actuated by adequate tension forces to get the required surface accuracy. The design of tensioning device has certain challenges, such as mass penalty, low packaging efficiency and power source dependency. The present study demonstrates the novel design methodology for the tensioning system for the inflatable paraboloid membrane reflector antenna using the wave springs. The loading analysis of the inflatable paraboloid reflector is carried out for adequate inflation pressure and tension forces maintaining the surface error within the tolerance limit. The numerical results of the loading analysis are compared and found to be consistent with the experimental findings. The relation between the displacement of tensioning spring and the dimensions of supporting inflatable torus is established. The results show that wave springs can successfully transfer the required tension forces to the reflector with required surface accuracy. The findings of this research provide insights for simple, lightweight, packaging efficient and cost-effective design solution to the tensioning system for inflatable paraboloid reflector antenna.