Press release
Space Sensors and Actuators Global Market Set to Reach $8.54 Billion in 2025 with 19.2% CAGR: Key Findings and Trends
Space Sensors And Actuators Market Size
* The global space sensors and actuators market size has grown rapidly in recent years. It is forecasted to grow from $7.16 billion in 2024 to $8.54 billion in 2025 with a compound annual growth rate (CAGR) of 19.2%.
* The market is slated for considerable growth in the next few years, expecting to reach $16.46 billion in 2029 at a CAGR of 17.8%.
* The increase in both historic and forecast periods can be attributed to factors such as commercialization of space activities, the emergence of small satellite platforms, advancements in technologies, and increasing space missions.
What Is Driving The Growth In The Space Sensors And Actuators Global Market?
The expansion of the space sensors and actuators market is primarily driven by the surge in the number of satellites launched frequently. With an estimated 6,718 active satellites orbiting as of the end of 2022, each incorporating sensors and actuators to provide feedback on velocity and position, the market for these components is bound to experience an upswing.
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Who Are the Key Players Driving Space Sensors and Actuators Market Growth?
* TE Connectivity Ltd.
* Ametek Inc.
* Analog Devices Inc.
* Bradford Space Inc.
* Honeywell International Inc.
* Innovative Sensor Technology IST AG
* Lockheed Martin Corporation
* Maxar Technologies Inc.
* MinebeaMitsumi Inc.
* Moog Inc.
* Northrop Grumman Corporation
* Renesas Electronics Corporation
* Teledyne UK Limited
* Texas Instruments Incorporated
* Cedrat Technologies SA
* InnaLabs Limited
* Leonardo DRS Inc.
* Sierra Nevada Corporation
* Rüstungs Unternehmen AG
* STMicroelectronics N.V.
* Raytheon Technologies Corporation
* Digi-Key Electronics Pvt. Ltd.
* Minebea Intec GmbH
* Ball Aerospace & Technologies Corp.
* BAE Systems PLC
* L3Harris Technologies Inc.
* Thales Group
* Airbus Defence and Space
* Safran Electronics & Defense
* Sensata Technologies Holding PLC
* Kistler Holding AG
* First Sensor AG
* MTS Systems Corporation
* Curtiss-Wright Corporation
* Parker Hannifin Corporation
* Woodward Inc.
* Eaton Corporation PLC
* Spanish Society of Engineering and Construction
* Space Inventor A/S
What Are The Key Trends In The Space Sensors And Actuators Market?
Key trends that will steer the market growth include:
* Miniaturization and advancements in technology
* Increased space exploration missions
* High demand for remote sensing and Earth observation
* Expansion of IoT and connectivity in space
* Cost reduction in space missions
What Are The Segments Of The Global Space Sensors And Actuators Market?
The space sensors and actuators market can be segmented as follows:
* By Product Type: Sensors, Actuators
* By Platform: Satellites, Capsules Or Cargos, Interplanetary Spacecraft And Probes, Rovers Or Spacecraft Landers, Launch Vehicle
* By Application: Attitude And Orbital Control System, Command And Data Handling System, Telemetry, Tracking And Command, Thermal System, Propellent 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
* By End User: Commercial, Government, Defense
Which Region Dominates The Space Sensors And Actuators Market?
North America held the largest market share for space sensors and actuators in 2024. Additionally, the Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa regions are covered in the report.
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What Is Covered In The Space Sensors And Actuators Global Market Report?
- Market Size Analysis: Analyze the Space Sensors And Actuators Global Market Report 2025 size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Space Sensors And Actuators Global Market Report 2025 for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Space Sensors And Actuators Global Market Report 2025 growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Space Sensors And Actuators Global Market Report 2025.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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