Stratview Research announces the launch of a new market research report on Space Electronics Market by Platform Type (Satellite, Launch Vehicle, and Others), by Component Type (Discrete Semiconductors, Optoelectronics, Integrated Circuits, and Others), by Subsystem Type (Electrical Power Subsystem, Attitude & Orbital Control Subsystem, Telemetry, Tracking & Command Subsystem, Communication Subsystem, and Others), by Product Type (Radiation-Hardened and Radiation-Tolerant), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
This market report, from Stratview Research, studies the space electronics market over the trend period of 2012 to 2023 and forecast period of 2018 to 2023. The research report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
The Space Electronics Market: Highlights
As per Stratview Research, the next five years for the space electronics market are going to be resilient with having sizeable growth opportunities for both the existing as well as new players. 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 several countries in the space community; an increased demand for reducing the cost of electronic components; and the technological advancements are some of the major factors that are burgeoning the demand for electronics in the space industry.
The research’s findings suggest that satellite segment is expected to remain the growth engine of the global space electronics market during the forecast period of 2018 to 2023. Increasing participation of commercial space companies, such as Space X, OneWeb Satellites, and Sky and Space Global Ltd, and an expected launch of more than 4,000 satellites during 2018-2023 would propel the demand for electronics in the satellite segment in years to come.
In terms of component type, integrated circuits are expected to remain the most dominant component type in the total space electronics market during the forecast period. Increasing demand for electronics that are smaller in size, lighter in weight and consume lesser power (reduced SWaP), is the driving force of integrated circuits in the total space electronics market
Based on the product type, radiation-hardened and radiation-tolerant electronic segments are likely to grow at healthy growth rates over the next five years; however, the radiation-tolerant segment is likely to witness a higher growth during the same period. Increasing demand for COTS (Commercial-off-the-Shelf) components, drastically lowering launch cost from commercial space companies, and growing demand for small satellites, especially for earth observation, communication, and networking applications are the key whys and wherefores behind the higher growth of the radiation-tolerant space electronics market.
As per the study, North America is expected to remain the largest space electronics market during the forecast period and is also expected to experience the highest growth in the same period. NASA, the largest space agency in the world, which is largely involved in space-related activities is in the USA. Furthermore, the market entry of commercial space companies, such as Space X, propel the region’s demand for space electronics in the coming years.
The key space electronic component manufacturers are BAE Systems Plc., Cobham Plc., Honeywell International Inc., Microsemi Corporation, and Texas Instruments. Development of low-cost electronics, regional expansion, and mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.
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 on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the global space electronics market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. The following are the five ways in which the market is segmented:
Global Space Electronics Market, By Platform Type
Global Space Electronics Market, By Component Type
Global Space Electronics Market, By Subsystem Type
Global Space Electronics Market, By Product Type
Global Space Electronics Market, By Region
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