Exploring the .4 Billion Frontier of the Space Electronics Market by 2031 – Insights from Allied Market Research

Space Electronics Market Trend

OREGAON, PORTLAND, UNITED STATESย , February 20, 2024 /EINPresswire.com/ — Allied Market Research recently published a report, titled, “Space Electronics Market by Platform (Satellite, Launch Vehicles, Deep Space Probes), by Application (Communication, Earth Observation, Navigation, Global Positioning System (GPS) and Surveillance, Technology Development and Education, Others), by Type (Radiation Hardened, Radiation Tolerant), by Component (Microprocessors and Controllers, Sensors, Application Specific Integrated Circuits (ASIC), Memory Chips, Power Source and Cables, Discrete Semiconductors, Other): Global Opportunity Analysis and Industry Forecast, 2021-2031″. As per the report, the global space electronics industry was pegged at $3.34 billion in 2021, and is expected to reach $5.36 billion by 2030, growing at a CAGR of 5.04% from 2022 to 2031.

๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐๐š๐ ๐ž๐ฌ – https://www.alliedmarketresearch.com/request-sample/A16421

The space electronics market industry holds a great potential over the coming years backed by an increase in investment by private players such as SpaceX and Amazon, in developed economies. The space electronics market within the developing economies will be moderated by rise in investments by government entities. For instance, in October 2020, the government of India contracted Hughes to establish a satellite-based broadband service, connecting 5,000 remote locations. Such initiatives are supporting space-based operations within the Asia Pacific region and supporting business prospects within the forecast period.

๐Œ๐š๐ฃ๐จ๐ซ ๐ฆ๐š๐ซ๐ค๐ž๐ญ ๐ฉ๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ

BAE Systems
Cobham
Honeywell International Inc.
Microsemi Corporation
Texas Instruments
STMicroelectronics
Teledyne e2v (UK) Ltd.
TT Electronics, Xilinx Inc.
Ruag Group

๐Œ๐š๐ฃ๐จ๐ซ ๐๐ž๐ญ๐ž๐ซ๐ฆ๐ข๐ง๐š๐ง๐ญ๐ฌ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐ฆ๐š๐ซ๐ค๐ž๐ญ ๐ ๐ซ๐จ๐ฐ๐ญ๐ก

Surge in satellite launch and deep space activities, increase in use of re-usable launch systems, cubesats, and software defined satellites, and integration of SATCOM in communication industry have boosted the growth of the global space electronics market. However, dearth of semiconductors and surge in space debris along with decreasing space slots in LEO hinder the market growth. On the contrary, surge in demand for COTS components and shift from radiation hardened to radiation tolerant components would unlock new opportunities in the future.

๐๐ซ๐จ๐œ๐ฎ๐ซ๐ž ๐‚๐จ๐ฆ๐ฉ๐ฅ๐ž๐ญ๐ž ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/space-electronics-market/purchase-options

๐“๐ก๐ž ๐ฌ๐š๐ญ๐ž๐ฅ๐ฅ๐ข๐ญ๐ž ๐ฌ๐ž๐ ๐ฆ๐ž๐ง๐ญ ๐ญ๐จ ๐ฆ๐š๐ง๐ข๐Ÿ๐ž๐ฌ๐ญ ๐ญ๐ก๐ž ๐ก๐ข๐ ๐ก๐ž๐ฌ๐ญ ๐‚๐€๐†๐‘ ๐ญ๐ก๐ซ๐จ๐ฎ๐ ๐ก ๐Ÿ๐ŸŽ๐Ÿ‘๐Ÿ

By platform, the satellite segment is estimated to portray the highest CAGR of 5.56% during the forecast period. In addition, the segment held the largest share in 2021, accounting for around two-thirds of the global space electronics market, owing to surge in initiatives taken by private players such as SpaceX and Amazon to establish communication satellite constellation. The report includes an in-depth analysis of the launch vehicles and deep space probes segment.

๐“๐ก๐ž ๐œ๐จ๐ฆ๐ฆ๐ฎ๐ง๐ข๐œ๐š๐ญ๐ข๐จ๐ง ๐ฌ๐ž๐ ๐ฆ๐ž๐ง๐ญ ๐๐จ๐ฆ๐ข๐ง๐š๐ญ๐ž๐ ๐ญ๐ก๐ž ๐ฆ๐š๐ซ๐ค๐ž๐ญ

By application, the communication segment held the largest share in 2021, contributing to nearly half of the global space electronics market. In addition, the segment is projected to manifest the highest CAGR of 5.54% during the forecast period, owing to rise in dependency of end-users on satellite communication for day-to-day activities. The report also analyzes the segments including earth observation, navigation, global positioning system (GPS) and surveillance, technology development and education, and others.

๐ˆ๐ง๐ญ๐ž๐ซ๐ž๐ฌ๐ญ๐ž๐ ๐ญ๐จ ๐๐ซ๐จ๐œ๐ฎ๐ซ๐ž ๐ญ๐ก๐ž ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ? ๐ˆ๐ง๐ช๐ฎ๐ข๐ซ๐ž ๐๐ž๐Ÿ๐จ๐ซ๐ž ๐๐ฎ๐ฒ๐ข๐ง๐  – https://www.alliedmarketresearch.com/purchase-enquiry/A16421

๐๐จ๐ซ๐ญ๐ก ๐€๐ฆ๐ž๐ซ๐ข๐œ๐š ๐ก๐ž๐ฅ๐ ๐ญ๐ก๐ž ๐ฅ๐ข๐จ๐ง’๐ฌ ๐ฌ๐ก๐š๐ซ๐ž

By region, the market across North America held the largest share in 2021, accounting for more than two-fifths of the market. This is due to presence of major market players within space electronics market backed by space initiatives by government. However, the global space power electronics market across Asia-Pacific is expected to register the highest CAGR of 5.97% during the forecast period, owing to initiatives taken by the regional government to support indigenous manufacturing capacities within the space segment.

๐’๐ข๐ฆ๐ข๐ฅ๐š๐ซ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ ๐–๐ž ๐‡๐š๐ฏ๐ž ๐จ๐ง ๐€๐ž๐ซ๐จ๐ฌ๐ฉ๐š๐œ๐ž ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:

https://www.alliedmarketresearch.com/automotive-power-electronics-market – Automotive Power Electronics Market : Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/automotive-optoelectronics-market-A13958 – Automotive Optoelectronics Market : Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/automotive-semiconductor-market-A14477 – Automotive Semiconductor Market : Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/embedded-systems-in-automobiles-market-A12177 – Embedded Systems in Automobiles Market : Global Opportunity Analysis and Industry Forecast, 2023-2032

David Correa
Allied Market Research
+1 5038946022
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Originally published at https://www.einpresswire.com/article/689884965/exploring-the-5-4-billion-frontier-of-the-space-electronics-market-by-2031-insights-from-allied-market-research