Expected Launch of More than 4,000 Satellites During 2018-2023 to Drive the Space Electronics Market

The global space electronics market is projected to reach an estimated value of US$ 1,557.9 million in 2023. Increasing production of satellites, especially small satellites; market entry of commercial space companies; increasing involvement of a number of countries in the space community; an increased demand for reducing the cost of electronic components; and the technological advancements are some major factors that are burgeoning the demand for electronics in the space industry.