PUBLISHER: Allied Market Research | PRODUCT CODE: 1108505
PUBLISHER: Allied Market Research | PRODUCT CODE: 1108505
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.
By Platform
By Application
By Type
By Component
By Region