The space on-board computing platform global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Space On Board Computing Platform Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The space on-board computing platform market size has grown rapidly in recent years. It will grow from $1.35 billion in 2023 to $1.51 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to increased demand for earth observation data, growth in satellite constellations, advances in satellite technology, need for onboard data processing, rise of cubesat and small satellite deployments.
The space on-board computing platform market size is expected to see rapid growth in the next few years. It will grow to $2.43 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The growth in the forecast period can be attributed to expansion of commercial space activities, increased adoption of edge computing in space, growth in deep space exploration missions, demand for autonomous satellite operations,use of quantum computing in space applications. Major trends in the forecast period include integration of artificial intelligence in space computing, software-defined space systems, high-performance computing in space, onboard machine learning and analytics, miniaturization of space computing components.
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Scope Of Space On Board Computing Platform Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The rise in space exploration missions is expected to propel the growth of the space-on-board computing platform market going forward. Space on-board computing platforms are commonly used in a number of space exploration missions due to their capabilities of gathering information using various applications, data storing, analyzing, and distributing the collected data to provide mapping and navigation in earth and space exploration missions. Additionally, space on-board computing is capable of allowing the applications to adapt to new situations or needs and rapidly deploy new updates or algorithms to existing systems for image analysis in space explorations or missions. For instance, in November 2021, according to an article by Seed Scientific, a US-based recruitment hub in the field of science, around 8,378 satellites were launched into space and NASA’s budget for space exploration budget has increased by 3% in the year 2021 as compared to the previous years with $ 23.3 billion. Therefore, the rising number of space exploration missions is driving the space on-board computing platform market growth.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The space on-board computing platform market covered in this report is segmented –
1) By Platform: Nano Satellite, Microsatellite, Small satellite, Medium satellite, Large satellite, Spacecraft
2) By Technology: Cots, Non-Cots
3) By Orbit: Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Earth Orbit (GEO)
4) By Communication Frequency: S-Band, X-Band, C-Band, K-Band, Other Communication Frequencies
5) By Application: Communication, Earth Observation, Navigation, Meteorology, Other Applications
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Regional Insights –
North America was the largest region in the space on-board computing platform market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the space on-board computing platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the space on-board computing platform market report are BAE Systems plc, Thales Group, L3Harris Technologies Inc., Lockheed Martin Corporation, Honeywell International Inc., Raytheon Technologies Corporation, Saab AB, Northrop Grumman Corporation, Airbus SE, Ball Corporation, Cobham Gaisler AB, Contec Co Ltd, EnduroSat, G. A. U. S. S. Srl, International Business Machines Corporation (IBM), Leonardo S. p. A., Loft Orbital, Space Tango, ST Engineering, Teledyne Technologies Inc., MDA Corporation, Ramon Space, LMO Space, Space Micro Inc., Space Exploration Technologies Corp. (SpaceX), Blue Canyon Technologies, AAC Clyde Space, Astro Digital, Axelspace Corporation, BlackSky Global LLC
Table of Contents
1. Executive Summary
2. Space On Board Computing Platform Market Report Structure
3. Space On Board Computing Platform Market Trends And Strategies
4. Space On Board Computing Platform Market – Macro Economic Scenario
5. Space On Board Computing Platform Market Size And Growth
…..
27. Space On Board Computing Platform Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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