0
New
New
2022
Space Electronics Market

Space Electronics Market 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): Global Opportunity Analysis and Industry Forecast, 2021-2031

A16421
Pages: 347
May 2022 | 333 Views
Author(s) : Dave Dhvanil Ashish , Sonia Mutreja
Tables: 182
Charts: 67
  • Formats*:

  • SIngle User License, Five User
    License & Enterprise User License

  • Data Pack Excel License

  • It comes with the additional cost
    of $2500.00 contact sales.

 

COVID-19

Pandemic disrupted the entire world and affected many industries.

Get detailed COVID-19 impact analysis on the Space Electronics Market

Request Now !

The global space electronics market was valued at $3.3 billion in 2021, and is projected to reach $5.4 billion by 2031, growing at a CAGR of 5.04% from 2022 to 2031.

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 space electronics will capture the majority of the market share due to its demand in the conventional market whereas the radiation-hardened 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 COVID-19 pandemic has had an adverse effect on the overall space and satellite manufacturing and, in turn, on the space electronics industry. There was a shortage of semiconductors across the globe before the pandemic, owing to sudden rise in demand for consumer electronics. Industrial manufacturing was already facing shortage of chips, which worsened due to global trade restrictions and geopolitical crisis in COVID-19. Asia-Pacific serves as a hub for manufacturing of semiconductor chips with more than 70% of the market demand being catered by the region. The sudden imposition of global lockdown and trade restriction had a major impact on North American and European region, as they were highly dependent on Asia-Pacific for semiconductors. The disruption in supply chain resulted in notable delays in production cycles, enforcing companies to incur losses. However, investments done by major industry players and government bodies within North America and Europe to revive the semiconductor industry and rivalry between the U.S. and China to have technological dominance through indigenous capabilities are expected to support business opportunities in the coming years.

Space Electronics Market, Space Electronics Industry

Get more information on this report : Request Sample Pages

The space electronics market is segmented into Platform, Application, Type and Component.

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, are expected to augment the growth of space electronics market within the forecast period. Rise in application of satellites for a range of activities such as surveillance, real-time imaging, communication, navigation, weather forecasting, broadband and connectivity, R&D, and testing, and IoT integration for various government, commercial, and civil-military domains is leading to the 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. The rise in satellite launches has generated demand for various satellite electronics components and other peripheral systems, supporting business opportunities.

Space Electronics Market
By Platform

Your browser does not support the canvas element.

Satellite is projected as the most lucrative segment

The global 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 fragmented into communication, earth observation, navigation, a global positioning system (GPS) & surveillance, technology development, and education, and others. By type, it is divided into radiation hardened and radiation tolerant. By component, it 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.

Space Electronics Market
By Application

Your browser does not support the canvas element.

Communication is projected as the most lucrative segment

Rising satellite launch and deep space activities

Currently, satellites are used for a range of primary and essential operations such as weather tracking, internet connectivity, mobile phone signals, broadcasting television programs, research, development, and establishing secure communication networks. The rising implementation of automation in satellite operations has also resulted in increased usage of electronics components, within the space segment. As of January 2022, there are approximately 4,852 operational satellites in orbit used by governments, the defense sector, and private organizations, with a forecast to launch over 6,000 satellites by 2031. The rise in satellite launches has generated demand for various electronic components and other peripheral systems, pushing industry players to explore new methods to cater to the rising demand.

Rise in dependency of commercial industry on products and services provided by space economies such as mobile communications, mobile asset tracking, data connections, broadband connections, and television to homes among others has generated a spike in demand for communication satellites, supporting the requirement of space electronics. Private players are making notable investments within the space domain to cater to the rising demand on the commercial front. For instance, SpaceX established a constellation of 653 Starlink satellites, which were commercialized in April 2021. Moreover, the company plans to launch other 12,000 satellites by 2027. On the other hand, Amazon plans to launch 3,236 small satellites over the coming years. These satellites will be in continuous satellite-to-satellite conversation and facilitate software-defined operations over the coming years. Tesat, a European satellite communication organization, is engaged in developing laser communication technologies with minimum uplink and downlink rates of 2Gbps. Such initiatives are expected to drive the space electronics industry over the coming years.

Space Electronics Market
By Component

Your browser does not support the canvas element.

Microprocessors and Controllers is projected as the most lucrative segment

Integration of SATCOM in communication industry

Satellite communication (SATCOM) is a key for military operations as it provides beyond-line-of-sight communications, which can cover around one-third of the earth on a single satellite. Satellite communications enable an aircraft to communicate via satellite with air traffic control and other ground-based facilities while in the air. It can include voice and ground service. With the arrival of internet protocol (IP)-based applications and new data-hungry cockpits, SATCOM delivers critical safety data as well as improves operational performance for present military aircraft fleets. The potential to enhance the safety and efficiency of air travel is exhaustive. As military forces increasingly use space-based assets to fulfill their missions, SATCOM technologies have become vital for communications networks.

Increasing usage of re-usable launch systems, CubeSats and software defined satellites

Rise in demand for high-speed internet connectivity across various commercial, government, and defense sectors is generating the requirement of communication satellites at economical rates to ensure sustainable business operations. Many industry players have adopted automated manufacturing operations such as 3D printing and laser sintering to minimize manufacturing costs. The biggest restrain during previous years was to launch a satellite in space. Each launch incurred huge costs as the complete launch systems were wasted in the atmosphere or as space debris once the satellite was launched in space.

With the introduction of re-usable launch vehicles by SpaceX and Blue Origin, the per launch cost has been reduced significantly, approximately by 50%. This has allowed several small industry players with limited financial capabilities to enter the space market, supporting market competitiveness. A strategic approach to launching multiple satellites from various countries in a single launch vehicle is also one of the major factors in reducing the launch cost.

Space Electronics Market
By Region

2031
North America 
Europe
Asia-pacific
Lamea

Asia-Pacific would exhibit the highest CAGR of 6.0% during 2022-2031

Increasing space debris and reducing space slots in LEO

The rise in space debris due to extensive unplanned launch operations in the past and widespread commercialization of low earth orbit (LEO), due to satellites launched by commercial players are posing threat to the space industry as a whole, posing a potential growth barrier to the space electronics market as well.

Every satellite launched into space has a limited operational timespan. Once the operational timespan is concluded, the satellite becomes obsolete but keeps rotating in the orbit. It serves as space debris and creates a hindrance while launching new satellites. There are more than 40,000 medium-large objects in space, equivalent to nearly 7,600 tons of space junk revolving around the Earth in various orbits. These debris particles and dead satellites become potential threats to the active and operating satellites and must be removed gradually over time.

KEY BENEFITS FOR STAKEHOLDERS

  • This study presents the analytical depiction of the global space electronics market analysis along with the current trends and future estimations to depict imminent investment pockets.
  • The overall space electronics market opportunity is determined by understanding profitable trends to gain a stronger foothold.
  • The report presents information related to the key drivers, restraints, and opportunities of the global space electronics market with a detailed impact analysis.
  • The current space electronics market is quantitatively analyzed from 2021 to 2031 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

 

Key Market Segments

  • 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
  • By Region
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • Italy
      • Spain
      • Russia
      • U.K.
      • Rest of Europe
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Rest of Asia-Pacific
    • LAMEA
      • Latin America
      • Middle East
      • Africa


Key Market Players

  • BAE System
  • Cobham Limited
  • Honeywell International Inc.
  • Microchip Technology Inc
  • RUAG Group
  • STMicroelectronics
  • Teledyne Technologies Incorporated
  • Texas Instruments Incorporated
  • TT Electronics
  • Xilinx, Inc
 

Loading Table Of Content...


 
 

The space electronics market is expected to undergo a major shift in the coming years. An increasing number of satellites launched across the globe and the arrival of private players and start-ups within the space segment, funded by government and global players to support business potential within the space electronics market over coming years.

The public sector has played a vital role in defining market opportunities within the space industry for years. Historically, the public sectors and the government bodies were the only potential clients for space products and services. The strategic initiatives of the companies operating within the space segment were motivated by consideration of government initiatives. Significant investment and research and development (R&D) activities were required to fulfill space activities that private players were not able to afford in previous years. These constraining factor has limited the industry to grow as per government budgets within respective countries. There has been a notable change in business operations in recent years, shift in market demand toward private players. With the arrival of private industry stakeholders across the globe, the space economy has been growing at a rapid pace.

According to the satellite industry association (SIA), the space industry was valued at approximately $371 billion in 2020, consisting of satellite manufacturing, launches, associated services, and ground equipment. Within the overall space industry, the satellite services captured $117.8 billion, followed by satellite manufacturing at $12.2 billion and the launch industry at $5.3 billion. The commercial applications within the space service captured more than 40% of the total market share. Rise in involvement of private satellite service providers supporting market competitiveness, integration of new technologies such as software-defined satellite components, artificial intelligence and machine learning within satellite algorithms, and component miniaturization and low cost of manufacturing have increased the affordability within the market, thereby opening new business verticals.

Design optimization through the adoption of size, weight, price, and cost (SWaP-C) concept and reduction of manufacturing cost through the integration of additive manufacturing processes along with long-term service agreements has reduced the overall cost of acquisition of space electronics. Such initiatives by major industry players are expected to provide new business horizons to the space electronics market.

Among the analyzed regions, North America is the highest revenue contributor, followed by Europe, Asia Pacific, and LAMEA. Asia-Pacific is expected to witness the highest growth rate during the forecast period, owing to increasing efforts of the Indian and Chinese governments to develop space infrastructure. Initiatives taken by these governments to promote indigenous manufacturing and attract foreign direct investment (FDI) policies will also contribute to the growth of the region.

PURCHASE OPTIONS

Start reading instantly ,This Report and over 13000+ thousand more Reports, Available with Avenue Library, T&C*

Call or Email us

U.S.-Canada
Toll-free :
+1-800-792-5285
Int'l : +1-503-894-6022
Europe : + 44-845-528-1300
Email : help@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

 Request Sample
 
FREQUENTLY ASKED QUESTIONS?

A. Consumer shift towards radiation tolerant components is the major impacting factor, augmenting business opportunities within the space electronics market.

A. The leading applications within the space electronics market are Communication, Earth Observation, Navigation, Global Positioning System (GPS) & Surveillance, Technology Development & Education, and Others.

A. North America will capture the highest market share within the space electronics market.

A. The global space electronics market was valued at $3,345.8 million in 2021, and is projected to reach $5,366.2 million by 2031, registering a CAGR of 5.04% from 2022 to 2031.

A. 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.

RELATED TAGS
 

HAVE QUESTIONS?
SPEAK WITH ANALYST

 

DID YOU MISS ANYTHING?
DO YOU HAVE SPECIFIC REQUIREMENTS?

 

Download Sample

OR

Purchase Full Report of
Space Electronics Market

Start reading instantly.
This Report and over 13,000+ thousand more Reports, Available with Avenue Library. T&C*.

  • Online Only
  • $4,063
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  •   Free quarterly industry update
  •   Free report update (Within 180 days)
  •   Subscription model sign in
  • Data Pack
  • $4,447
  • Restricted to one authorized user
  • One print only
  • Available in
    Excel
  •   Free quarterly industry update
  •   Free report update (Within 180 days)
  •   Subscription model sign in
  • Single User
  • $6,775
  • Restricted to one authorized user
  • One print only
  • Available in Excel & PDF
  •   Free quarterly industry update
  •   Free report update (Within 180 days)
  •   Subscription model sign in
  • Five Users
  • $7,057
  • Limited to five authorized users
  • Print upto five copies
  • Available in Excel & PDF
  •   Free quarterly industry update
  •   Free report update (Within 180 days)
  •   Subscription model sign in
  • Enterprise
    License/PDF

  • $11,602
  • Unlimited
    within
    company/enterprise
  • Available in Excel & PDF
  •   Free quarterly industry update
  •   Free report update (Within 180 days)
  •   Subscription model sign in
  • Library Membership
  • $ 999
    Per User/ Per month/ Billed annually
  • Published Content
    E-access
  • Company Profiles
    E-access
  • Newly Added Content Access
  • 10 PDF
    Downloads
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers