Global Satellite Power Electronics Systems Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Satellite Power Electronics Systems Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Power Electronics refers to an interdisciplinary subject within electrical engineering that deals with the design, control and conversion of power in its electric form. A system that converts electric energy to an electric load through a control circuit is known as a Power Electronic System. The primary role of the Satellite Power Electronics Systems is to supply other systems in the satellite with the necessary electrical power to operate effectively.

Market Overview:

The latest research study on the global Satellite Power Electronics Systems market finds that the global Satellite Power Electronics Systems market reached a value of USD 774.43 million in 2023. It’s expected that the market will achieve USD 1714.89 million by 2029, exhibiting a CAGR of 14.17% during the forecast period.

As part of the digitalization of the economy, satellite signals and data play an increasingly pivotal role in economic development. The recent growth in the sector has generated unprecedented levels of entrepreneurship and start-up activity. There is a risk that the crisis could lead to more industry concentration, eliminating smaller and younger firms. Space agencies and other public administrations therefore need to fully consider vulnerable smaller actors in their overall crisis responses.

In the current market economy, the upstream and downstream industrial chains have never been so closely linked. The COVID-19 pandemic has caused a large number of factories to stop production, isolate employees from work, and obstruct transportation. For the production of the Satellite Power Electronics Systems industry, it is also affected by COVID-19. If the supply of raw materials is blocked, the production of the Satellite Power Electronics Systems will also be affected. At the same time, the Satellite Power Electronics Systems and downstream space exploration activities will also be affected in many ways. The reduction in space exploration activities will result in a reduction in the demand for the Satellite Power Electronics Systems. Therefore, dealing with the impact of COVID-19 on the supply chain is also one of the important issues that Satellite Power Electronics Systems manufacturers need to deal with.

Aerospace is of great significance to national security, and countries have introduced relevant policies to promote the development of the aerospace industry

The strategic position of aerospace in national security and economic and social development is even more important, and major countries continue to strengthen strategic leadership. With the in-depth adjustment of relations between major powers, China, the United States, Russia, Europe, Japan, India and other aerospace countries and regions have put aerospace in a more important strategic position in the top-level national security strategies and comprehensive plans issued by them. Among them, the United States aims to maintain its leadership and comprehensively promote the development of aerospace technology. The United States continues to publish The National Security Strategy, Defense Space Strategy and new version of National Space Policy. These documents provide comprehensive guidance for the development of the U.S. aerospace field in the next 10 years, highlighting that in order to maintain national security, the U.S. must have absolute dominance and freedom of action in space, and clearly regard space as a key combat domain for active preparations. With the goal of rejuvenating a great power, Russia has systematically and comprehensively planned and made drastic reforms. In 2016, the Russian government passed the Federal Space Program for 2016-2025 , proposing to use space satellite clusters as the basis and at the same time develop promising new launch vehicles and aerospace complex equipment to serve the national economy, science and technology, and international cooperation. And protect the Russian population and land from natural disasters and man-made violations. The European Parliament approved the European Defense Industrial Development Programme in July 2018, specifying that from 2019 to 2020, it will focus on supporting the development of aerospace technologies such as satellite communications, access to space, and earth observation. In September 2021, the British Ministry of Defense released the National Space Strategy , which aims to create conditions for the realization of the UK's advantages in space and build the UK into one of the most innovative and attractive space economies in the world. Ten initiatives were developed targeting the most impactful opportunities and key cross-cutting enablers. The release of these policies has promoted the development of the aerospace industry and also provided more market demand for the Satellite Power Electronics Systems market.

Advances in Space Technology Drive the Satellite Power Electronics Systems Industry

In recent years, worldwide, the carrier and its technology continue to develop in the direction of meeting the requirements of large tonnage, high reliability, high environmental protection and strong adaptability, and at the same time develop in the direction of low cost and rapid response. Satellites are developing in the direction of high reliability, long life, high spatial and temporal resolution, large capacity, and high speed. Human beings have gradually broken through the earth orbit manned spaceflight technology, and are developing into manned deep space exploration. In the field of launch vehicles, the United States successfully achieved the first flight of the Falcon Heavy-duty launch vehicle, with a low-earth orbit carrying capacity of 63.8 tons. It is currently the only heavy-duty launch vehicle in service in the world. China's Long March 9 launched an improved version with 10 engines. In the field of satellites, China has completed the core constellation network of the Beidou satellite navigation system. The United States successfully launched a third-generation GPS satellite. Russia launched the hydrometeorological satellite Electron-L3, starting a comprehensive update of the satellite navigation system. Europe's Copernicus Project carries out global environmental and security monitoring through the Sentinel series of satellites, and continues to expand its database construction and cooperation and sharing. Advancements in space technology have increased the number of space activities and also boosted the Satellite Power Electronics Systems industry.

Region Overview:

In 2022, the share of the Satellite Power Electronics Systems market in North America stood at 46.67%.

Company Overview:

The major players operating in the Satellite Power Electronics Systems market include Texas Instruments, Infineon Technologies, Beyond Gravity, STMicroelectronics, Renesas Electronics, etc. Among which, Texas Instruments ranked top in terms of sales and revenue in 2023.

Texas Instruments Inc (TI) designs, manufactures and delivers semiconductors. The company offers application-specific standard semiconductor products through its analog and embedded processors divisions. The company’s analog chips portfolio includes power and signal chain products. It offers a wide range of digital signal processors (DSPs) and microcontrollers and applications processors products through its embedded processing category. TI also offers calculators, data convertors, CAN transceivers, flip flops, voltage translation products, RF and microwave, sensors, switches, wireless connectivity, and custom semiconductors.

Segmentation Overview:

By type, Power Conditioning/Conversion segment accounted for the largest share of market in 2022.

Power Conditioning/Conversion

Power conversion is the process of changing the voltage, frequency, or waveform of an electrical input to match the requirements of an output device or load. A power conditioner is a device used to protect sensitive loads by smoothing out voltage fluctuations such as spikes, transients and electrical noise. Such as Battery charge and discharge, DC-DC converters and so on.

Power Distribution

The Power Distribution Unit providing power to the various boards and systems of the platform and payloads.

Application Overview:

The market's largest segment by application is the segment Communication Satellites, with a market share of 59.70% in 2022.

Communication Satellites

A communication spacecraft, usually located at GEO and equipped with a transponder — an integrated receiver and transmitter of radio signals — may receive signals from Earth and retransmit them back to the planet. As a result, it opens interaction channels between regions that were previously unable to communicate with one another due to large distances or other obstacles. Different types of communication satellites facilitate various forms of media transmissions, such as radio, TV, telephone, and the Internet.

Earth Observation Satellites

The purpose of Earth observation type of satellites is to monitor the planet from space and report back on any changes they observe. This type of space technology makes possible consistent and repeatable environmental monitoring as well as rapid analysis of events during emergencies like natural disasters and armed conflicts. It is possible to categorize Earth observation spacecraft into the following types: Weather satellites are employed for monitoring and forecasting weather trends and providing actual weather data. GEO is ideal for different types of weather satellites, as it provides a constant viewpoint that enables scientists to track cloud patterns and predict their movements. Remote sensing satellites’ primary applications are all types of environmental monitoring and geographical mapping. Machines used for different types of remote sensing circle the Earth in one of three orbits: polar, non-polar LEO, or GEO. Geographical information system (GIS) satellites are a type of remote sensing spacecraft whose main function is to provide images appropriate for GIS mapping and further spatial analysis.

Navigation Satellites

The navigation system constellations are located between 20,000 and 37,000 kilometers from Earth’s surface. This type of satellite sends out signals that reveal their time, position in space, and health status. There are two major types of space navigation systems:

The spacecraft of the Global Navigation Satellite System (GNSS) broadcast signals that GNSS receivers pick up and utilize for geolocation purposes, providing global coverage. Galileo in Europe, GPS in the United States, and the BeiDou Navigation Satellite System in China are all examples of GNSS.

The Regional Navigation Satellite System (RNSS) is an autonomous regional navigation system that provides coverage on a regional scale. For instance, India’s IRNSS project aims to provide Indian citizens with a reliable location-based service.

Key Companies in the global Satellite Power Electronics Systems market covered in Chapter 3:

Texas Instruments
Microsemi Corporation
Analog Devices
Vicor Corporation
ASP Equipment GmbH
Infineon Technologies
Beyond Gravity
Renesas Electronics
VPT
Airbus Crisa
STMicroelectronics

In Chapter 4 and Chapter 14.2, on the basis of types, the Satellite Power Electronics Systems market from 2019 to 2030 is primarily split into:

Power Conditioning/Conversion
Power Distribution
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Satellite Power Electronics Systems market from 2019 to 2030 covers:

Communication Satellites
Earth Observation Satellites
Navigation Satellites
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)