Space Electronics Market By Platform (Satellite, Launch Vehicles, Deep Space Probes), By Application (Communication, Earth Observation, Navigation, Global Positioning System (GPS) and Surveillance, Technology Development and Education, Others), By Type (Radiation Hardened, Radiation Tolerant), By Component (Microprocessors and Controllers, Sensors, Application Specific Integrated Circuits (ASIC), Memory Chips, Power Source and Cables, Discrete Semiconductors, Other): Global Opportunity Analysis and Industry Forecast, 2021-2031
The space electronics can be identified as electronics components such as microprocessors, controllers, memory chips, and application-specific integrated circuits (ASIC) among others that are designed and developed for application in satellites, rocket launchers, and deep space probes. These electronics are exposed to extreme vibrations, radiation, and other harsh environment in space, posing a demand for radiation treatment that allows them to operate flawlessly in harsh environments. Every space electronics are either radiation-hardened or radiation tolerant, depending upon their scope of application and operator specification. The radiation-hardened segment within the space electronics market will capture the majority of the market share, due to its demand in the conventional market. The radiation tolerant segment within the space electronics market will witness an accelerated growth rate within the forecast period of 2022-2031 backed by a shift in consumer buying behavior and rise in acceptance of commercial off the shelf (COTS) electronics components within the space segment.
The growth in space electronics market is driven by factors such as an increase in investment in space ventures, a rise in launch activities by some of the major private and public players, the establishment of a communication satellite constellation in LEO, and the adoption of space tourism in coming years. Rise in application of satellites for a range of activities such as surveillance, real-time imaging, communication, navigation, weather forecasting, broadband and connectivity, research, development, and testing, and IoT integration for various government, commercial, and civil-military domains is leading to evolution in the space electronics industry. More than 6,000 satellites were expected to be launched within the timeframe of 2020 to 2027 with rising year-on-year launch rates. Rise in satellite launches has generated demand for various satellite electronics components and other peripheral systems, supporting business opportunities.
The space electronics market is segmented on the basis of platform, application, type, component, and region. By platform, it is categorized into satellite, launch vehicles, and deep space probes. Depending on application, it is classified into communication, earth observation, navigation, a global positioning system (GPS) & surveillance, technology development, and education, and others. By type, it is bifurcated into radiation hardened and radiation tolerant. The component segment is divided into microprocessors and controllers, sensors, application specific integrated circuits (ASIC), memory chips, power source and cables, discrete semiconductors, and other. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Companies have adopted product development and product launch as their key development strategies in the space electronics industry. Moreover, collaborations and acquisitions are expected to enable leading players to enhance their product portfolios and expand into different regions. The key players operating in the space electronics market are BAE Systems, Cobham, Honeywell International Inc., Microsemi Corporation, Texas Instruments, STMicroelectronics, Teledyne e2v (UK) Ltd, TT Electronics, Xilinx Inc., and Ruag Group.
KEY BENEFITS FOR STAKEHOLDERS
This study presents the analytical depiction of the global space electronics market analysis along with the current trends and future estimations to depict imminent investment pockets.
The overall space electronics market opportunity is determined by understanding profitable trends to gain a stronger foothold.
The report presents information related to the key drivers, restraints, and opportunities of the global space electronics market with a detailed impact analysis.
The current space electronics market is quantitatively analyzed from 2021 to 2031 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Key Market Segments
By Platform
Satellite
Launch Vehicles
Deep Space Probes
By Application
Communication
Earth Observation
Navigation, Global Positioning System (GPS) and Surveillance
Technology Development and Education
Others
By Type
Radiation Hardened
Radiation Tolerant
By Component
Microprocessors and Controllers
Sensors
Application Specific Integrated Circuits (ASIC)
Memory Chips
Power Source and Cables
Discrete Semiconductors
Other
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
Italy
Spain
Russia
U.K.
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
BAE System
Cobham Limited
Honeywell International Inc.
Microchip Technology Inc
RUAG Group
STMicroelectronics
Teledyne Technologies Incorporated
Texas Instruments Incorporated
TT Electronics
Xilinx, Inc
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