Report Ocean presents a comprehensive research report on Space Electronics, analyzing markets in 150+ countries. With access to 1,00000+ annual reports, subject matter experts ensure accuracy. Methods like S.W.O.T., P.E.S.T.E.L., and regression analysis forecast growth. The report covers regulations, research tech, innovation, and future trends in Space Electronics.
The global space electronics market size was US$ 3.1 billion in 2021. The global space electronics market is anticipated to grow to US$ 4.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 4.1% during the study period from 2022 to 2030.
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Microprocessors, controllers, memory chips, and application-specific integrated circuits (ASIC) are some of the named examples of space electronics. These electronics are specifically designed for use in satellites, rocket launchers, and deep space probes. These electronics must have radiation treatment in order to function flawlessly in difficult conditions since they are subjected to extremely high vibrations, radiation, and other harsh situations in space.
COVID-19 Impact Analysis
The COVID-19 pandemic has adversely impacted global space and satellite manufacturing, which also affected other linked industries like space electronics. Additionally, various industries witnessed a shortage of semiconductors across the globe, which, in turn, hampered the growth of the space electronics market. Asia-Pacific, which is a hub for manufacturing semiconductor chips, recorded a drastic impact of the COVID-19 pandemic in various nations like China and China. The sudden imposition of the global lockdown hampered the trade across the North American and European regions, which were highly dependent on semiconductors. Therefore, it negatively affected the space electronics market on a global level.
Factors Influencing the Market
The growing funding for space ventures will drive the growth of the space electronics market. Additionally, other factors like the growing rate of launch activities and the rising trend of space tourism are expected to contribute to the growth of the space electronics market during the analysis period.
Satellites find applications in surveillance, communication, real-time imaging, navigation, weather forecasting, R&D, testing, IoT integration, etc. Apart from that, governments are increasing funding in the civil-military domains, which will present potential prospects for the global space electronics market during the analysis period. Further, the growing projects related to satellite launches will contribute to the growth of the space electronics market during the analysis period.
Regional Analysis
The Asia-Pacific space electronics market would exhibit the highest CAGR during the study period due to the increasing space debris. Every satellite that is launched into orbit has a finite amount of time in operation. The satellite loses its usefulness after its operational lifetime but continues to rotate in space. It is used as space debris and gets in the way of satellite launches. More than 40,000 medium-sized particles, or about 7,600 tonnes of space debris, are circling in different orbits around the Earth. The possible risks posed by these debris fragments and defunct satellites will upsurge the demand for the space electronics market during the analysis period.
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Competitors in the Market
BAE System
Cobham Limited
Honeywell International Inc.
Microchip Technology Inc.
RUAG Group
STMicroelectronics
Teledyne Technologies Incorporated
Texas Instruments Incorporated
TT Electronics
Xilinx, Inc.
Other Prominent Players
Market Segmentation
The global space electronics market segmentation focuses on Platform, Application, Type, Component, and Region.
By Platform
Satellite
Launch Vehicles
Deep Space Probes
By Application
Communication
Earth Observation
Navigation, Global Positioning System (GPS), and Surveillance
Technology Development and Education
Others
By Type
Radiation Hardened
Radiation Tolerant
By Component
Microprocessors and Controllers
Sensors
Application Specific Integrated Circuits (ASIC)
Memory Chips
Power Source and Cables
Discrete Semiconductors
Other
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By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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