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In-Depth Analysis of the Space On-board Computing Platform Market: Growth Opportunities, Key Trends, and Forecast 2025-2034
Space On-board Computing Platform Market Forecast
The increasing interest in space exploration missions is set to fuel the expansion of the market for space on-board computing platforms. These platforms are frequently employed in a variety of space exploration missions due to their ability to collect, store, analyze, and disseminate intelligence using a range of applications, aiding in earth and space mapping and navigation tasks. Additionally, on-board space computing allows for applications to adjust to new scenarios or requirements and swiftly integrate new updates or algorithms into existing systems for space exploration or mission image analysis. As an example, as per the data released by the United Nations Office for Outer Space Affairs (UNOOSA) -a segment of the United Nations tasked with promoting and coordinating space-related activities and policies- in November 2023, over 2,050 satellite registrations were recorded in 2022, and by 2023, they received 2,250 registrations, contributing to 35 percent of all satellites. Consequently, the burgeoning number of space exploration endeavors propels the market growth for space on-board computing platforms.
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What is the projected compound annual growth rate (CAGR) of the space on-board computing platform market from 2025 to 2034, and what factors influence it?
In the past few years, the market size for the on-board computing platform in space has seen a swift growth. The projections suggest that it will expand from $1.48 billion in 2024 to $1.64 billion in 2025, with a notable compound annual growth rate (CAGR) of 11.0%. Factors that have contributed to this growth in the historical period include a surge in the demand for earth observation data, advancement of satellite technology, growth in satellite constellations, requirement for onboard data processing, and the emergence and rise of CubeSat and small satellite deployments.
Expectations are high for the space on-board computing platform market size, as it is set to experience a significant surge in the coming years. The market is predicted to reach $2.8 billion by 2029, growing at a compound annual growth rate (CAGR) of 14.3%. Factors contributing to this growth forecast include commercial space activities' expansion, edge computing's increasing adoption in space, rising deep space exploration missions, a greater demand for autonomous satellite operations, and quantum computing's usage in space applications. Key trends expected during this forecast period involve the inclusion of artificial intelligence in space computing, the development of software-defined space systems, enhancing space computing performance, integrating onboard machine learning and analytics, and the shrinking size of space computing components.
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How are the latest trends influencing the growth of the space on-board computing platform market?
To increase technology integration and expand their market penetration, leading enterprises in the space on-board computing platform industry are implementing a strategic partnership strategy. This usually involves a cooperative relationship between two or more firms where they pool their resources, skills, and efforts to meet shared aims or objectives. For example, in April 2024, US-based aerospace business Firefly Aerospace teamed up with Switzerland's software firm Klepsydra Technologies. The partnership's focus is to host an AI application on Firefly's Elytra vehicle, which is scheduled to launch on the Alpha rocket later the same year. Serving as an edge computing platform, Elytra is designed to process data in real-time while in orbit, facilitating various software applications. Testing its AI navigation models for attitude determination, guidance and control, as well as a cloud detection algorithm, is what Klepsydra plans to do with Elytra. The primary goal of this collaboration is to exhibit the capability of dynamic AI application switching and Klepsydra's AI-as-a-service solution.
What are the major segments of the space on-board computing platform market and their role in driving growth?
The space on-board computing platform market covered in this report is segmented -
1) By Platform: Nano Satellite, MicroSatellite, Small Satellite, Medium Satellite, Large Satellite, Spacecraft
2) By Technology: Cots, Non-Cots
3) By Orbit: Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Earth Orbit (GEO)
4) By Communication Frequency: S-Band, X-Band, C-Band, K-Band, Other Communication Frequencies
5) By Application: Communication, Earth Observation, Navigation, Meteorology, Other Applications
Subsegments:
1) By Nano Satellite: 1U CubeSats, 3U CubeSats, Other Nano Satellites
2) By Microsatellite: 10-100 Kg Satellites, Specialized Microsatellites
3) By Small Satellite: 100-500 Kg Satellites, Small Science Satellites
4) By Medium Satellite: 500-2,000 Kg Satellites, Medium Communication Satellites
5) By Large Satellite: Over 2,000 Kg Satellites, Large Earth Observation Satellites
6) By Spacecraft: Manned Spacecraft, Unmanned Spacecraft, Space Probes
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Which regions are key players in the growth of the space on-board computing platform market?
North America was the largest region in the space on-board computing platform market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the space on-board computing platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the space on-board computing platform market?
Major companies operating in the space on-board computing platform market include BAE Systems plc, Thales Group, L3Harris Technologies Inc., Lockheed Martin Corporation, Honeywell International Inc., Raytheon Technologies Corporation, Saab AB, Northrop Grumman Corporation, Airbus SE, Ball Corporation, Cobham Gaisler AB, Contec Co Ltd, EnduroSat, G. A. U. S. S. Srl, International Business Machines Corporation (IBM), Leonardo S. p. A., Loft Orbital, Space Tango, ST Engineering, Teledyne Technologies Inc., MDA Corporation, Ramon Space, LMO Space, Space Micro Inc., Space Exploration Technologies Corp. (SpaceX), Blue Canyon Technologies, AAC Clyde Space, Astro Digital, Axelspace Corporation, BlackSky Global LLC
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What Is Covered In The Space On-board Computing Platform Global Market Report?
•Market Size Forecast: Examine the space on-board computing platform market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the space on-board computing platform market for a structured understanding.
•Key Players Overview: Analyze major players in the space on-board computing platform market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the space on-board computing platform market.
•Segment Contributions: Evaluate how different segments drive overall growth in the space on-board computing platform market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the space on-board computing platform market.
•Industry Challenges: Identify potential risks and obstacles affecting the space on-board computing platform market.
•Competitive Landscape: Review strategic developments in the space on-board computing platform market, including expansions, agreements, and new product launches.
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