Market Research Report
Global Space electronics Market - 2019-2026
|Published by||DataM Intelligence||Product code||753459|
Delivery time: 1-2 business days
|Global Space electronics Market - 2019-2026|
|Published: November 1, 2019||Content info:||
The growing use of space electronics for operating spacecraft, satellites, and deep-space probes is putting pressure on the rad-hard community to deliver technology with high performance and low cost.
Space is a complex place, especially when it comes to electronic components like microprocessors, solid-state memory, and network interfaces. Modern electronic components were not designed to operate in a radiation environment.
The radiation-hardened electronic parts is to resist the effects of radiation, but it's expensive to do this. Moreover, overall demand for rad-hard electronic parts are relatively low, which can drive up their costs even more. There are other ways of dealing with space radiation, ranging from redundant subsystems, selective shielding, and up screening commercial off-the-shelf (COTS) electronics for enhanced reliability.
Global Space electronics market is expected to grow at a CAGR of XX% to reach market value of USD XXXX million by 2025.
The Increasing production of satellites especially the small satellites is driving the global space electronics market.
The increase in involvement of countries in the space activities is driving the growth of global Space electronics market.
The technological advancements for product development in space activities will further drive the growth in global space electronics market.
The high cost of space electronic products is a major restraint for the growth of global space electronics market.
The space electronics market is segmented based on application such as Satellite, Launch Vehicle, and Others. The satellite segment accounts for major market share and it is expected to grow in the forecast period. Due to the Increasing involvement of commercial space companies, such as Space X, Sky and Space Global Ltd, and OneWeb Satellites, and an expected launch of more than 4,000 satellites during the forecast period which will increase the demand for electronics product in the satellite segment.
In the geography segment, North America is dominating the global space electronics market and it is expected to grow at higher pace in the forecast period, because NASA is the largest space agency in the world, which is involved in space-related activities and is situated in the USA. The presence of many companies in the space activities within this region is driving the demand of space electronics market.
Companies are developing new products with improved performance for space applications to be competitive in the market.
For instance, In April 2018, TT Electronics, a global provider of engineered electronics for performance critical applications, have introduced its New Space Electronics® range. TT Electronics' New Space Electronics® offer a solution that delivers reduced screening, it is fully traceable with proven space grade heritage.
In September 2018, TT Electronics has introduced the WDBR-UL series of ultra-low profile high power resistors, it is a thick film design. Developed on the existing WDBR product, the new series' creepage, clearances and power ratings have been assessed in accordance with the demands of UL508, easing the compliance burden for UL approved end users.
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