Revolutionizing Space Technology: New Breakthroughs in Electronics for Astronomical Discoveries

Allied Market Research recently published a report, titled, "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". As per the report, the global space electronics industry was pegged at $3.34 billion in 2021, and is expected to reach $5.36 billion by 2030, growing at a CAGR of 5.04% from 2022 to 2031.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰- https://www.alliedmarketresearch.com/request-sample/16790

Major determinants of the market growth

Surge in satellite launch and deep space activities, increase in use of re-usable launch systems, cubesats, and software defined satellites, and integration of SATCOM in communication industry have boosted the growth of the global space electronics market. However, dearth of semiconductors and surge in space debris along with decreasing space slots in LEO hinder the market growth. On the contrary, surge in demand for COTS components and shift from radiation hardened to radiation tolerant components would unlock new opportunities in the future.

Covid-19 scenario:

The Covid-19 pandemic had a negative impact on satellite manufacturing due to shortage of semiconductors across the globe and rise in demand for consumer electronics.
The dis supply rupted resulted in delays in production cycles, enforcing companies to incur losses.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐭 https://www.alliedmarketresearch.com/request-for-customization/16790

The satellite segment to manifest the highest CAGR through 2031

By platform, the satellite segment is estimated to portray the highest CAGR of 5.56% during the forecast period. In addition, the segment held the largest share in 2021, accounting for around two-thirds of the global space electronics market, owing to surge in initiatives taken by private players such as SpaceX and Amazon to establish communication satellite constellation. The report includes an in-depth analysis of the launch vehicles and deep space probes segment.

The communication segment dominated the market

By application, the communication segment held the largest share in 2021, contributing to nearly half of the global space electronics market. In addition, the segment is projected to manifest the highest CAGR of 5.54% during the forecast period, owing to rise in dependency of end-users on satellite communication for day-to-day activities. The report also analyzes the segments including earth observation, navigation, global positioning system (GPS) and surveillance, technology development and education, and others.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/16790

North America held the lion's share

By region, the market across North America held the largest share in 2021, accounting for more than two-fifths of the market. This is due to presence of major market players within space electronics market backed by space initiatives by government. However, the global space power electronics market across Asia-Pacific is expected to register the highest CAGR of 5.97% during the forecast period, owing to initiatives taken by the regional government to support indigenous manufacturing capacities within the space segment.

Major market players

BAE Systems
Cobham
Honeywell International Inc.
Microsemi Corporation
Texas Instruments
STMicroelectronics
Teledyne e2v (UK) Ltd.
TT Electronics, Xilinx Inc.
Ruag Group

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐀𝐞𝐫𝐨𝐬𝐩𝐚𝐜𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

Automotive Power Electronics Market- https://www.alliedmarketresearch.com/automotive-power-electronics-market

Automotive Optoelectronics Market- https://www.alliedmarketresearch.com/automotive-optoelectronics-market-A13958

Automotive Semiconductor Market- https://www.alliedmarketresearch.com/automotive-semiconductor-market-A14477

Military Embedded System Market- https://www.alliedmarketresearch.com/military-embedded-system-market-A09055

Embedded Systems in Automobiles Market- https://www.alliedmarketresearch.com/embedded-systems-in-automobiles-market-A12177

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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