Press release
Space Sensors And Actuators Market 2023 Recent Industry Developments and Growth Strategies Forecast To 2032
Space Sensors And Actuators Global Market
The Business Research Company's Space Sensors And Actuators Global Market Report 2023 identifies surging number of satellites launched frequently as the major driver for the Space Sensors And Actuators market's growth in the forecast period. The number of satellites deployed into orbit has greatly expanded over time in order to gather pertinent data that can be used for a variety of functions, including communications, positioning, navigation, and timing (PNT), earth imaging, climate and environment monitoring, and scientific research. These satellites employ sensors and actuators to provide feedback on velocity and position.
The global space sensors and actuators market size is expected to grow from $5.10 billion in 2022 to $6.07 billion in 2023 at a compound annual growth rate (CAGR) of 19.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The space sensors and actuators market is expected to grow to $11.78 billion in 2027 at a CAGR of 18.0%.
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Major competitors in the Space Sensors And Actuators market are TE Connectivity, Ametek Inc., Analog Devices Inc., Bradford Space, Honeywell International Inc., Innovative Sensor Technology AG, Lockheed Martin Corporation, Maxar Technologies, MinebeaMitsumi Inc.
A key trend in the Space Sensors And Actuators market includes The Technological advancement. Major players are focusing on advancements in product technology, such as radiation-hardened space sensors, to gain a competitive edge in the market.
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The Space Sensors And Actuators market is segmented -
1) By Product Type: Sensors, Actuators
2) By Platform: Satellites, Capsules Or Cargos, Interplanetary Spacecraft And Probes, Rovers Or Spacecraft Landers, Launch Vehicle
3) By Application: Attitude And Orbital Control System, Command And Data Handling System, Telemetry, Tracking And Command, Thermal System, Propeller Feed System, Rocket Motors, Surface Mobility And Navigation System, Berthing And Docking System, Robotic Arm or Manipulator System, Thrust Vector Control System, Engine Valve Control System, Solar Array Drive Mechanism, Other Applications
4) By End User: Commercial, Government, Defense
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Space Sensors And Actuators market.
The Business Research Company's "Global Space Sensors And Actuators Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Space Sensors And Actuators Market Include:
1. Executive Summary
2. Space Sensors And Actuators Market Characteristics
3. Space Sensors And Actuators Market Trends And Strategies
4. Space Sensors And Actuators Market - Macro Economic Scenario
5. Space Sensors And Actuators Market Size And Growth
……
27. Space Sensors And Actuators Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Space Sensors And Actuators Market
29. Space Sensors And Actuators Market Future Outlook and Potential Analysis
30. Appendix
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