Global Space Electronics Market is expected to reach US$ 18, 90.0Mn by 2026 from US$ 12, 50.0Mn in 2017 at CAGR of 5.3%.
Global space electronics market is segmented by platform type, component type, subsystem, product and region. Platform Type classified as satellite, and launch vehicle. Component type is segregated as discrete semiconductors, optoelectronics, and integrated circuits. Subsystem type divided into electrical power subsystem, attitude & orbital control subsystem, telemetry, tracking & command subsystem, and communication subsystem. Product type is split into radiation-hardened and radiation-tolerant. Region-wise divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Global Space Electronics Market
Space Electronics is the world’s top manufacturer of aerospace mass properties measurement instruments. Space electronics is a complex place, especially when it comes to electronic components like microprocessors, solid-state memory, and network interfaces. Modern electronic components were not designed to drive in a radiation environment. The major driver of space electronic market is the growing production of satellites especially the small satellites is driving the global space electronics market. The technological advancements for product development in space actions will further drive the growth in the global space electronics market. The high cost of space electronic products is the main restraint for the growth of global space electronics market.
Based on the platform type, satellite segment accounts for major market share and it is expected to grow during the forecast period. Owing to the increasing involvement of commercial space companies, such as Space X, Sky and Space Global Ltd, and One Web Satellites, and an expected launch of more than 4,000 satellites for the period of the forecast which will rise the demand for electronics product in the satellite segment.
In terms of product type, radiation-hardened segments are anticipated to rise at healthy growth rates over the upcoming five years. There are numerous ways that electronic parts designers can radiation-harden their devices. One of the most mutual is to harden for total-ionizing-dose radiation – or the amount of radiation the device is expected to withstand for its entire life before problems occur. A usual requirement is for 100 kilorads of total-dose radiation hardness. Nowadays radiation-hardened space processors typically are single-processor systems based on existing commercial or military computers. They drive at maximum required throughput, fault tolerance, and power levels. Air Force and NASA space experts, moreover, say they anticipate future missions that will require an increase in throughput and wider variations in throughput, fault tolerance, and power levels.
On the basis of component type, integrated circuits are expected to remain the most dominant component type in the global space electronics market during the forecast period from 2018 to 2026. Increasing demand for electronics that are smaller in size and lighter in weight and consume lesser power (reduced SWaP), is the driving force of integrated circuits in the global space electronics market.
In terms of region, North America is expected to continue the largest space electronics market during the forecast period and is also expected to experience the highest growth during the same period. The NASA, the largest space agency in the world, which is largely involved in space-related activities is in the USA. Moreover, the market entry of commercial space companies, such as Space X, propel the region’s demand for space electronics in the coming years.
Key players operating on the global space electronics market are, BAE Systems Plc., Cobham Plc., Honeywell International Inc., Microsemi Corporation, and Texas Instruments, HEICO Corporation, ON Semiconductor, ST Microelectronics N.V., Teledyne e2v, TT Electronics Plc., Xilinx Inc.
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