New York, US, Feb. 27, 2023 (GLOBE NEWSWIRE) -- Space Electronics Market Summary :
Market Research Future (MRFR) 's report highlights Space Electronics Market Research Report Information by Platform, Component, Subsystem, Product, Region Global Forecast till 2030, the space Electronics Market Size is expected to reach USD 1.6 Billion by 2030, registering a CAGR of 5.4% during 2021-2030.
Space Electronics Market Scope:
Some of the factors driving the growth of the space electronics market include the creation of a communication satellite constellation in low-Earth orbit (LEO), the adoption of space tourism in the next years, and an increase in investments in space companies.
The increased use of satellites for monitoring, real-time imaging, communication, navigation, weather forecasting, broadband and connectivity, research, development, and testing, and Internet of Things integration for various government, commercial, and civil-military domains is changing the space electronics market.
Report Scope:
| Report Attribute | Details |
| 2030 Market Size | 1.6 billion |
| CAGR | 5.4% (2021-2030) |
| Base Year | 2020 |
| Forecast Period | 2021-2030 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Platform, Component, Subsystem, Product, Region |
| Geographies Covered | North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America |
| Key Market Drivers | Worldwide Launch Vehicle Industry Development. |
Competitive Dynamics:
Major players of the Space Electronics Market are mentioned below: -
- BAE Systems PLC (UK)
- Microsemi Corporation (US)
- Texas Instruments (US)
- Xilinx Inc. (US)
- Cobham PLC (UK)
- TT Electronics PLC (UK)
- Teledyne e2v (UK)
- Heico Corporation (US)
- Honeywell International Inc. (US)
- ON Semiconductor (US)
- ST Microelectronics NV (Switzerland)
Get Free Sample PDF Brochure @ https://www.marketresearchfuture.com/sample_request/7584
Market USP:
Market Drivers
Effective material suppliers, electronic component manufacturers, subsystem manufacturers, rocket manufacturers, and space offices or dispatch administration providers make up the manufacturing network of the global space hardware market. The main strategies used by the central sections to gain a competitive advantage on the hunt are the production of low-cost devices, regional expansion, and mergers and acquisitions. The growth of the space electronics market for the upcoming anticipated period is properly enhanced by the rise in demand for space electronics products.
Significant investments in satellite manufacturing and technological advancements in microprocessors and FPGAs are the main market drivers for space electronics. During the anticipated period, these drivers will aid in the market's expansion and growth.
The growth of the space electronics market is influenced by factors such as the enormous demand for satellite assembly, the inventive development of microchips and FPGAs, and the expansion of the launch vehicle sector globally. However, issues like high costs associated with the design and construction of a room and difficulties creating a real testing environment for radiation-solidified technology are impeding the growth of the market as a whole. The development of new and improved technologies in the market for space electronics has caused the CAGR for this industry to increase at an efficient rate over the course of the anticipated period.
Browse In-depth Market Research Report (133 Pages) on Space Electronics Market @ https://www.marketresearchfuture.com/reports/space-electronics-market-7584
Market Limitations
The space electronics industry's growth and development in the anticipated time period are being hampered by the high costs involved in the design and development of space electronic goods and the difficulties in providing a realistic testing environment for radiation-hardened devices. To assist preserve the market environment, these issues must be adequately addressed.
COVID-19 Analysis:
Lockdowns, travel bans, and company closures related to the COVID-19 have a negative impact on economies and enterprises in various countries. The closure of various plants and industrial facilities has had a negative impact on global supply chains and a positive impact on the production, delivery schedules, and global trade of goods. Few companies have properly predicted anticipated delays in product deliveries and declines in later sales of their products. In addition, the global travel boycotts imposed by countries in Europe, Asia-Pacific, and North America affect collaborative business initiatives and companies' chances. The Covid-19 problem also has a significant impact on the space electronics industry.
The COVID-19 epidemic has had a negative impact on the production of satellites and spacecraft as a whole, which has then hurt the space electronics market. Due to a significant increase in demand for consumer electronics, there was a global scarcity of semiconductors prior to the pandemic. Chip shortages in industrial manufacturing have already gotten severe due to international trade restrictions and the COVID-19 geopolitical crisis.
Market Segmentation:
By Platform
During the hypothetical time frame, it is anticipated that the satellites segment will continue to represent the largest share of the global space hardware market. In the years to come, the satellites industry is expected to grow as a result of increasing investment from commercial space companies like Space X, OneWeb Satellites, and Sky and Space Global Ltd. as well as the routine launch of more than 4,000 satellites between the years of 2020 and 2025.
By Component Type
The segment for integrated circuits is anticipated to be the largest during the projected time range. The growth of the integrated circuit segment of the global space electronics market is anticipated to occur between 2020 and 2025 as a result of rising demand for compact, lightweight hardware that consumes less power.
Buy Now @ https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=7584
By Product Type
Due to the growing demand for commercial off-the-shelf (COTS) components, significantly lower launch costs by commercial space organizations, and the growing demand for small satellites, particularly for earth perception, communication, and systems administration applications, the radiation-tolerant portion is likely to experience a higher growth rate during the conjecture time frame.
Regional Analysis:
The North American region is anticipated to maintain its position as the largest market for space hardware among the other regions during the speculative period. Additionally, it is anticipated to have the Market's highest growth rate. The development of the local space electronics industry is being accelerated by NASA's presence in the US, the largest space office on the world, as well as a number of commercial space businesses like Space X. During the forecast period, North America is anticipated to maintain its dominance as the largest market for space electronics and to experience the most growth.
In the upcoming years, Europe and Asia-Pacific are also likely to provide players with worthwhile development chances. In the next years, it is anticipated that India, China, and Russia would be the major growth backers of the market for space electronics. The APAC space hardware market is rising quickly due to the increasing production of satellites, particularly the small moons. The expansion of the space electronics market is supported by the increased participation of countries like China and India in space activities. Mechanical advances for product development in space activities will also ensure significant market growth in the region in the ensuing years.
Discover more research Reports on Aerospace & Defense Industry, by Market Research Future:
Unmanned Aerial Vehicle (UAV) Market Report Information By Type (Fixed Wing, Multi-Rotor), By Application (Commercial, Military), By Component (Airframe, Payload, Guidance Navigation & Control, Propulsion System) - Global Forecast to 2030
Security Robots Market By Type (Unmanned Aerial Vehicle, Unmanned Underwater Vehicle, Unmanned Ground Vehicle), By Application (Explosive Detection, Patrolling & Surveillance, Rescue Operations, Firefighting, Others), By Component (Guidance, Navigation and Control System, Propulsion System, Camera System, Frame, Other Payloads) - Forecast till 2027
Drones Market by Type (Fixed-Wing and Multi-Rotor), By Capability (Passenger Drones and Cargo; Drones), By Capacity (Up to 100 kg and Over100 kg),By Application (Agriculture (Field Mapping, Field Mapping, Crop Spraying, Agricultural Photography, Precise Agriculture; Management, Agriculture Insurance; Inspection), Industry (Construction, Oil Gas, Mining, Logistics, Aviation, Telecom)), Component(Airframe, Payload, Guidance Navigation Control, Propulsion System) Forecast 2030
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Follow Us: LinkedIn | Twitter
