Global Space Electronics Market By Overview
Space electronics is a complex place, especially when it comes to electronic components like microprocessors, solid-state memory, and network interfaces. Because of the presence of lethal radiation, micrometeoroids, extremely fluctuating temperatures, and man-made debris may create various types of effect for electronic components. The effects created by the radiation on the space electronics, such as single event effect (SEE) and total ionizing dose (TID), can be fixed by the radiation-hardening process. This process makes the electronic components as capable to operate reliably for aeons in the harsh space environment.
Drivers and Restraints:
Significant investment in satellite manufacturing and technological advancement in microprocessors are a factor driving the growth of the space electronics market. For instance, according to Article released by the Federation of American Scientists (FAS.org) - global spending on space activity was US$ 323 billion in 2015. From this amount, nearly 40% was generated by commercial space products and services and 37% by commercial infrastructure and support industries. Additionally, the growing use of space electronics for operating spacecraft, satellites, and deep-space probes are the major factor boosting the target market growth. For instance, according to UCS Satellite Database currently, there is 2,218 total number of operating satellites and many are in processes to launch. However, high cost related to design and development of space and problems with making a real testing environment for radiation-hardened electronics is a factor restraining the global market growth. Moreover, the adoption of new material to manufacture space electronics and increasing demand for reconfigurable satellite payloads are factors providing lucrative opportunities to the target market growth.
Segmentation:
Space electronics market is segmented based product type, components, application, subsystem, and region.
Based on product type, the space electronics market is segmented into radiation-hardened, and radiation-tolerant. The radiation-hardened segment is expected to dominate the target market owing to the growing demand for COTS (commercial-off-the-shelf) components, drastically lowering launch cost from commercial space companies. Also, growing demand for small satellites particularly for earth observation, communication, and networking applications such factor drives the segment market growth. Based on components, the target market is classified into integrated circuits, discrete semiconductors, electrical power system, memory, analogue and mixed signals, sensors, and optoelectronics. Based on application, the target market is classified into a satellite, launch vehicle, and a deep space probe. Based on the subsystem, the target market is classified into a satellite, power system, deep space probe, and power system.
Based on the region the space electronics market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the target market, owing to the presence of NASA the largest space agency in the world, all-time important for the space-related activities located in the U.S. Additionally, increasing presence of commercial space companies, such as Space X, boosts the demand for the target market in the region. Moreover, rising investment in space activity is a major factor driving the growth of the target market in the North America region. For instance, according to the Federation of American Scientists (FAS.org) - the U.S. government with National Security Agencies and the National Aeronautics and Space Administration (NASA) total accounted for around 14% of global spending. Asia-Pacific is expected to grow with the highest CAGR during the forecast period, owing to the development of satellite technologies to convert the national economy and strengthen nation-security.
Global Space Electronics Market By Competitive Landscape & Key Players
The key players operating the space electronics market involves BAE Systems, Cobham Plc, Honeywell International, Texas Instruments Inc., The Boeing Company, Xilinx Inc., Microsemi Corporation, STMicroelectronics N.V, TT Electronics, and Data Device Corporation.
Global Space Electronics Market By Company Profile
- BAE Systems *
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Cobham Plc
- Honeywell International
- Texas Instruments Inc.
- The Boeing Company
- Xilinx Inc.
- Microsemi Corporation
- STMicroelectronics N.V
- TT Electronics
- Data Device Corporation.
“*” marked represents similar segmentation in other categories in the respective section
FAQs
The Space Electronics Market is segmented into By Product Type, By Component, By Application, By Subsystem and Region.
The Space Electronics Market is driven by factors such as the increasing demand for satellite-based services, advancements in space exploration missions, the growing commercial space industry, the development of miniaturized and lightweight electronics for space applications, and the need for reliable and high-performance electronics in space environments.
The high costs associated with space electronics development, the stringent reliability and safety standards for space systems, the complexity of space missions, and the potential impact of space debris on satellite operations, acting as restraints for the Space Electronics Market globally
North America, Europe, Asia-Pacific, and Latin America. North America, particularly the United States, is expected to dominate the Space Electronics Market, driven by the presence of major aerospace and defense companies, government investments in space programs, and a strong space industry ecosystem.
The key players operating the global space electronics market involves BAE Systems, Cobham Plc, Honeywell International, Texas Instruments Inc., The Boeing Company, Xilinx Inc., Microsemi Corporation, STMicroelectronics N.V, TT Electronics, and Data Device Corporation.