Space Power Electronics Market Share Size, Global Snapshot Analysis and Growth Opportunities by 2031

Space Power Electronics Market: Snapshot

The space power electronics market is expected to show significant growth during the forecast period of 2021-2031 owing to the rising demand for miniaturization of power electronic technologies across the globe. The application of space power electronics in satellites, launch vehicles, spacecraft, space stations, and others to convert electric power into another form for processing high voltages and currents is likely to create robust growth opportunities for the space power electronics market.

The space power electronics market can be segmented into spacecraft, launch vehicles, rovers, space stations, and satellites based on the application. On the basis of device type, the market can be divided into power module, power discrete, and power IC. Further, by platform type, the market can be bifurcated into command and data handling, ADCS, power, propulsion, TT&C, thermal system, structure, and power. The market can be segregated into medium voltage, low voltage, and high voltage based on voltage and by current into up to 25A, 25-50A, and over 50A.

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The team of experts at TMR Research has assessed various aspects such as competitive scenario, recent developments, revenue generation, sales, constraints, and regional perspectives. This exhaustive research covers n overall growth curve of the space power electronics market. The stakeholders and CXOs can make appropriate decisions regarding investments and plan their growth strategically based on deep insights into the market. The COVID-19 effect on the market is also focused upon in this report.

Space Power Electronics Market: Key Trends and Opportunities

The escalating demand for semiconductor materials for making space power cables and the incorporation of wide bandgap semiconductor materials for improving the performance of space crafts may lead to substantial growth of the space power electronics market. Further, the capacity of wide bandgap semiconductors to handle high voltage has helped in switching the speed and frequency of the space vehicles which may create huge growth opportunities for the space power electronics market.

The demand for compact power converters has increased owing to the miniaturization of space DC-Dc converters. The benefits offered due to compact design are isolated power output and reduction of sound in an analog circuit. The high efficiency attained due to the compact-sized power converters may act as a growth booster for the space power electronics market.

The adoption of novel technologies of communication such as wireless satellite internet coupled with miniature hardware systems may promote the growth of the space power electronics market. The technological breakthrough has enabled small satellites to accomplish orbital transfers, orbit control, and other space exploration activities easily. These developments have created a positive pathway for the growth of the space power electronics market.

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Space Power Electronics Market: Competitive Landscape

The key market players are focusing on rigorous research and development activities to create new advancements and contribute to the effectiveness of satellite communication. Furthermore, the efforts to enhance the space equipment and strengthen the defense and security features may create multiple growth opportunities for the space power electronics market. The development of better modules with enhanced features such as good power conversion is likely to generate significant growth for the market.

Some of the key players operating in the market are Texas Instrument Incorporated, Renesas Electronics Corporation, STMicroelectronics, Infineon Technologies, and Onsemi.

Space Power Electronics Market: Regional Dimensions

North America is anticipated to lead the global space power electronics market owing to the increasing government investments and funding for innovations in space power technologies on a large scale in this region. Furthermore, the expanding efforts to make satellite communication and space exploration efficient and effective are likely to provide new growth avenues for the global space power electronics market.

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