Market Insights
The space sensors and actuators market is likely to grow at a promising CAGR of 12.5% in the long run to reach US$ 5.1 Billion in 2028.
The cost of space launches has decreased due to factors like improvements in robotic technology, effective propulsion, lower mission expenses, accessibility to commercially available components, and other technological developments. Private corporations have become interested as a result of the economical planning and launch of space missions made possible by this. The market for space sensors and actuators for planetary exploration has expanded due to the development of affordable components using technologies like additive manufacturing and the rising space exploration expenditures of emerging nations.
Electrohydrostatic Actuators, also referred to as power by wire devices, are replacing hydraulic systems with standalone devices that run solely on electricity. They frequently contain servomotors, hydraulic pumps, accumulators, and servo actuators. EHAs simplify system topologies, increase safety and dependability, and eliminate the need for additional hydraulic pumps and tubing thanks to their built-in pumps. While being primarily developed for the aerospace industry, this technology has now been applied to a number of other fields, including space, where hydraulic power is frequently used. Electrohydrostatic (EHA) actuators offer solutions for two-fault tolerant, exceptionally dependable steering control.
Segments' Analysis
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Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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Product-Type Analysis
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Sensors and Actuators
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The sensor is dominant and likely to remain the fastest-growing product type in the forecast period.
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End User-Type Analysis
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Commercial and Government & Defense
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The commercial segment is expected to remain the dominant and fastest growing end user in the years to come.
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Regional Analysis
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North America, Europe, Asia-pacific, and The Rest of the World
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North America is expected to remain the largest and fastest-growing market over the next five years.
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Product Type
The space sensors and actuators market is segmented into sensors and actuators. Sensors are expected to remain the dominant as well as the fastest-growing product type in the market during the forecast period. For measuring the impact of radiation on end users, space observation satellites feature MEMS-based actuators, radiation-hardened sensors, electro-optical sensors for imaging, solar cells to charge the battery, and a Geiger counter to detect the amount of radiation reaching the spacecraft.
For commercial and environmental missions, space sensors are essential in ensuring that spacecraft, launch vehicles, interplanetary probes, and lander or rover applications operate as intended, with the highest level of reliability, and at the lowest feasible cost. Teledyne e2v sensors are used by the ESA Copernicus program for constellations that need high-resolution detectors.
The sensors segment is broken down into different types, including pressure sensors, attitude measurement, humidity/temperature sensors, image sensors, position and velocity sensors, GPS sensors, vacuum-ultraviolet (VUV) photodetectors, spectrometers, vibration sensors, proximity sensors, gravity sensors, flow sensors, and others (proprioceptive, piezoelectric, and force sensors).
End-User Type
The market is segmented into commercial users and government & defense. The commercial user is expected to remain the dominant as well as the fastest-growing end-user type in the market during the forecast period. The New Space sector, satellite operators & owners, space robotic solution providers, space exploration firms, and satellite and launch vehicle manufacturers have all been added to the commercial segment's subcategories. A new generation of space enterprises has emerged as a result of the rising commercialization of space activities. National space agencies have consistently worked with and supported the most prosperous of these private businesses.
Regional Analysis
North America is expected to remain the largest market for Space Sensors and Actuators during the forecast period. In 2022, the US held 98.0% of the North American market for space sensors and actuators. Key producers of space sensors and actuator systems are present in the US, which has contributed to the market's expansion there. The US space sensors and actuators market for planetary exploration is predicted to be driven during the forecast period by the increase in NASA space launches. Some significant US-based manufacturers of space sensors and actuators include Texas Instruments Incorporated, Sierra Nevada Corporation, Honeywell International Inc., Moog Inc., and Bradford Space (US).
The space sensors and actuators market is segmented into the following categories:
By Product Type
- Sensors (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Actuators (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Platform Type
- Satellites(Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Capsules/Cargos (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Interplanetary Spacecraft & Probes (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Rovers/Spacecraft Landers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Launch Vehicles (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Argentina, and Others)
Key Players
The market is highly populated, with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors, including price, product offerings, regional presence, etc. The following are the key players in the space sensors and actuators market. Most of the major players are providing complete profile systems including profile seals.
- Honeywell International Inc. (US)
- TE Connectivity (Switzerland)
- Teledyne Technologies Incorporated (US)
- Moog Inc. (US)
- AMETEK Inc. (US)
- TE Connectivity (Switzerland)
- Texas Instruments Incorporated (US)
- RUAG Group (Switzerland).
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s space sensors and actuators market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for existing and new players.
- Key success factors.
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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