Space Electronics Global Market Report 2025

Space electronics encompass specialized instruments and electronic components specifically designed for use in spacecraft, such as satellites, rockets, and deep space probes. These systems are engineered to function reliably in the harsh conditions of outer space, which involve extreme temperatures, radiation exposure, and vacuum environments.

The primary types of space electronics include radiation-hardened and radiation-tolerant components. Radiation hardening involves designing electronics and components resilient to significant levels of ionizing radiation found in environments like cosmic outer space, X-ray radiation in medical or security sectors, and high-energy radiation in nuclear power plants. These components comprise microprocessors, controllers, sensors, application-specific integrated circuits (ASICs), memory chips, power source cables, discrete semiconductors, and other related elements. These electronics are utilized in platforms such as satellites, launch vehicles, and deep space probes, catering to applications in communication, Earth observation, navigation, global positioning systems (GPS), technology development, education, and various other specialized uses.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The sharp increase in U.S. tariffs and resulting trade disputes in spring 2025 are significantly affecting the aerospace and defense sector. Prices for key materials such as titanium, carbon fiber composites, and avionics primarily sourced from international suppliers have surged. Defense contractors, constrained by fixed-price government contracts, are forced to absorb these rising costs. Meanwhile, commercial aerospace companies are encountering resistance from airlines over increased aircraft prices. In addition, customs delays are disrupting already tight production timelines for jets and satellites. In response, the industry is stockpiling essential materials, pursuing import waivers for defense-related goods, and working with allied nations to diversify supply chains.

The space electronics market research report is one of a series of new reports from The Business Research Company that provides space electronics market statistics, including space electronics industry global market size, regional shares, competitors with a space electronics market share, detailed space electronics market segments, market trends and opportunities, and any further data you may need to thrive in the space electronics industry. This space electronics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The space electronics market size has grown strongly in recent years. It will grow from $2.63 billion in 2024 to $2.8 billion in 2025 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to space exploration initiatives, significant investment in satellite manufacturing, increase in demand for space electronics products, rising prevalence of space operations, rising satellite launch and deep space activities.

The space electronics market size is expected to see strong growth in the next few years. It will grow to $3.55 billion in 2029 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to radiation-hardened space electronics market growth, rise in launch activities, miniaturization and increased efficiency, rapid growth in investment in space ventures, adoption of new materials for better fabrication of space electronics. Major trends in the forecast period include advancements in radiation-tolerant semiconductor technologies, digitalization and software-defined systems, high-performance computing for space missions, photonics and optoelectronics in space communication, focus on cybersecurity in space systems, sustainable electronics for space.

The forecast of 6.1% growth over the next five years reflects a modest reduction of 0.3% from the previous estimate for this market.This reduction is primarily due to the impact of tariffs between the US and other countries. This is likely to directly affect the US through supply chain disruptions for single-event upset resistant FPGAs, sourced from key regions such as the UK, Israel, and Taiwan, which could increase costs for spacecraft avionics.The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.

The growing number of satellites is anticipated to drive the expansion of the space electronics market in the coming years. A satellite is any object that orbits a planet, star, or moon. The rise in satellite numbers is primarily due to the increasing demand for global communication and connectivity. Satellites are susceptible to charging and discharging, necessitating space components like space electronics that contain no floating metal. For example, in 2023, the Organisation for Economic Co-operation and Development, a France-based intergovernmental organization, reported that the population of operational satellites in orbit increased to over 6,700 by 2022. Thus, the rising number of satellites is propelling the growth of the space electronics market.

The escalating investment in space programs is expected to further boost the growth of the space electronics market in the future. Space programs involve organized and coordinated efforts by governments, space agencies, or private entities to explore, utilize, and comprehend outer space. Increased investment in space electronics supports the development of advanced technologies essential for satellite communication, exploration, and scientific research. For instance, in April 2024, the World Economic Forum projected that the space economy could reach $1.8 trillion by 2035, driven by space-enabled technologies. The Space Foundation reported that in 2023, the global space economy grew by 7.4% to $570 billion, with commercial revenues amounting to $445 billion, making up 78% of the total market. Therefore, the rising investment in space programs is a key driver of growth in the space electronics market.

Product innovation is a significant trend in the space electronics market. Leading companies in the space electronics sector are focusing on developing innovative product solutions to enhance their market presence. For example, in July 2022, VPT Inc., a US-based space electronics firm, launched the VSC Series of commercial off-the-shelf (COTS) products designed for new space applications as part of their product line. This series has been recognized for its Total Ionizing Dose (TID) performance, including Low Dose Rate (LDR) and Single Event Effects. It is tailored for smaller satellites operating in low Earth orbits (LEO) and NASA Class D missions, where balancing cost and guaranteed performance is essential. The product features radiation tested to 42 MeV/mg/cm2 and guaranteed at 30 MeV/mg/cm2 for Single Event Effects, in addition to being tested to 50 krad (Si). A comprehensive range of input EMI filters is also available to meet MIL-STD-461 or equivalent emission standards.

Key players in the space electronics market are pursuing strategic partnerships to establish innovative product centers. These collaborations enable space electronics companies to pool resources and expertise, enhance research and development capabilities, broaden market reach, and expedite commercialization, ultimately fostering innovation and growth in the space electronics sector. For instance, in October 2022, Michigan State University (MSU), a US-based research institution, formed a partnership with Texas Instruments Incorporated, a US-based semiconductor firm. This collaboration aims to develop robust space electronics capable of withstanding radiation, leveraging MSU's engineering expertise alongside TI's semiconductor knowledge to drive innovation and equip workers for the expanding space industry.

In July 2023, LightRidge Solutions, a US-based aerospace and defense firm, acquired Trident Systems for an undisclosed sum. This acquisition allows LightRidge Solutions to improve its capabilities in advanced space electronics and C4ISR solutions while efficiently scaling production to meet national security requirements. The merger is also expected to foster innovation and expand their portfolio, enabling the delivery of cost-effective, high-performance technologies. Trident Systems, a US-based commercial enterprise, combines advanced software solutions with durable space-grade hardware to enhance performance in aerospace and defense applications. This collaboration has the potential to generate innovative technologies for satellite communications and space exploration.

Major companies operating in the space electronics market are BAE Systems PLC, Texas Instruments, Inc., Cobham PLC, Honeywell International Inc., STMicroelectronics, Teledyne e2v (UK) Ltd., TT Electronics, Ruag Group, Infineon Technologies, Onsemi, Renesas Electronics Corporation, Analog Devices Inc., Microchip Technology Inc., NXP Semiconductors, Vishay Intertechnology Inc., Silicon Laboratories Inc., L3Harris Technologies Inc., Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, Thales Group, Airbus Defence and Space

North America was the largest region in the space electronics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the space electronics market report during the forecast period. The regions covered in the space electronics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the space electronics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The space electronics market consists of sales of different types of sensors, such as accelerometers, air quality sensors, ambient light sensors, color sensors, and fan controllers. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Space Electronics Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on space electronics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for space electronics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The space electronics market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

• Markets Covered:1) By Type: Radiation Hardened; Radiation Tolerant
• 2) By Component: Microprocessors And Controllers; Sensors; Application Specific Integrated Circuits; Memory Chips; Power Source Cables; Discrete Semiconductors; Other Components
• 3) By Platform: Satellite; Launch Vehicles; Deep Space Probes
• 4) By Application: Communication; Earth Observation; Navigation, Global Positioning System (GPS); Technology Development And Education; Other Applications
• Subsegments:
• 1) By Radiation Hardened: Analog Components; Digital Components; Power Management ICs; Mixed-Signal Components
• 2) By Radiation Tolerant: Microprocessors; FPGAs (Field Programmable Gate Arrays); Memory Devices; Logic Devices
• Companies Mentioned: BAE Systems PLC; Texas Instruments, Inc.; Cobham PLC; Honeywell International Inc.; STMicroelectronics; Teledyne e2v (UK) Ltd.; TT Electronics; Ruag Group; Infineon Technologies; Onsemi; Renesas Electronics Corporation; Analog Devices Inc.; Microchip Technology Inc.; NXP Semiconductors; Vishay Intertechnology Inc.; Silicon Laboratories Inc.; L3Harris Technologies Inc.; Lockheed Martin Corporation; Northrop Grumman Corporation; Raytheon Technologies Corporation; Thales Group; Airbus Defence and Space
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery Format: PDF, Word and Excel Data Dashboard.