Space Electronics Market Worth US$ 1,557.9 million in 2023

Stratview Research announces the launch of a new research report on Space Electronics Market. This 245-page extensive report from Stratview Research, studies the space electronics market over the forecast period of 2018 to 2023 and trend period of 2012 to 2017. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

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This BMI prepreg market analysis has been segmented in five ways, keeping in mind the interest of all the stakeholders across the value chain.
● by Platform Type (Satellite, and Others) – Satellite segment is expected to remain the growth engine of the market.
● by Component Type (Discrete Semiconductors, and Others) – Integrated circuits are expected to remain the most dominant component type segment.
● by Subsystem Type (Electrical Power Subsystem, and Others)
● by Product Type (Radiation-Hardened Electronics, and Others)
● and by Region (North America, Europe, Asia-Pacific, and RoW) – North America to remain the largest market.

Go through the detailed TOC: https://www.stratviewresearch.com/toc/309/Space-Electronics-Market.html

The Space Electronics Market Insights

The next five years for the space electronics market are going to be resilient with having sizeable growth opportunities for both existing as well as new players. The space electronics market is projected to reach an estimated value of US$ 1,557.9 million in 2023. Increasing production of satellites, especially small satellites; market entry of commercial space companies; increasing involvement of a number of countries in the space community; an increased demand for reducing the cost of electronic components; and the technological advancements are some major factors that are burgeoning the demand for electronics in the space industry.

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Space is an extremely hazardous environment with the presence of lethal radiation, micrometeoroids, highly fluctuating temperatures, and man-made debris, which may cause different types of issues for electronic components from simple bit flips to the dangerous complete burnout of electronic systems. The effects produced by the radiation on the space electronics, such as Single Event Effect (SEE) and Total Ionizing Dose (TID), can be rectified by the radiation-hardening process. The process makes the electronic components capable to operate reliably for eons in the harsh space environment but at a very high cost.

The space electronics market is segmented based on platform type as Satellite, Launch Vehicle, and Others. The satellite segment is expected to remain the growth engine of the space electronics market during the forecast period of 2018 to 2023. Increasing participation of commercial space companies, such as Space X, OneWeb Satellites, and Sky and Space Global Ltd, and an expected launch of more than 4,000 satellites during 2018-2023 would propel the demand for electronics in the satellite segment in years to come.

Based on the component type, the space electronics market is segmented as Discrete Semiconductors, Optoelectronics, Integrated Circuits, and Others. Integrated circuits are expected to remain the most dominant component type in the total space electronics market during the forecast period of 2018 to 2023. Increasing demand for electronics that are smaller in size and lighter in weight and consume lesser power (reduced SWaP), is the driving force of integrated circuits in the total space electronics market.

Based on the product type, the space electronics market is segmented as Radiation-Hardened Electronics and Radiation-Tolerant Electronics. Both, radiation-hardened as well as radiation-tolerant electronic segments, are likely to grow at healthy growth rates over the next five years; however, the radiation-tolerant segment is likely to witness a higher growth during the same period. Increasing demand for COTS (Commercial-off-the-Shelf) components, drastically lowering launch cost from commercial space companies, and growing demand for small satellites, especially for earth observation, communication, and networking applications are the key whys and wherefores behind the higher growth of the radiation-tolerant space electronics market.

Based on the regions, North America is expected to remain the largest space electronics market during the forecast period and is also expected to experience the highest growth during the same period. NASA is the largest space agency in the world, which is largely involved in space-related activities located in the USA. Furthermore, the market entry of commercial space companies, such as Space X, propel the region’s demand for space electronics in the coming years.

Europe and Asia-Pacific are also likely to offer good growth opportunities in the coming years. India, China, and Russia would be the new growth engines of the European and Asia-Pacific’s space electronics market in the coming years.

The supply chain of this market comprises raw material suppliers, electronic component manufacturers, subsystem manufacturers, spacecraft manufacturers, and space agencies or launch service providers. The key space electronic component manufacturers are BAE Systems Plc., Cobham Plc., Honeywell International Inc., Microsemi Corporation, and Texas Instruments. Development of low-cost electronics, regional expansion, and mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors
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This release was published on openPR.