What Is The Projected Growth Of The On-board Computing Platform Market In The Coming Years?
The space on-board computing platform market size has grown rapidly in recent years. It is expected to grow from $1.48 billion in 2024 to $1.64 billion in 2025 at a compound annual growth rate (CAGR) of 11.0%. This growth can be attributed to increased demand for earth observation data, growth in satellite constellations, advances in satellite technology, need for onboard data processing, and the rise of CubeSat and small satellite deployments.
In the coming years, the space on-board computing platform market size is projected to see rapid growth. It is expected to grow to $2.8 billion in 2029 at a compound annual growth rate (CAGR) of 14.3%. The growth in the forecast period can be attributed to the expansion of commercial space activities, increased adoption of edge computing in space, growth in deep space exploration missions, demand for autonomous satellite operations, and the use of quantum computing in space applications. Major trends in the forecast period include the integration of artificial intelligence in space computing, software-defined space systems, high-performance computing in space, onboard machine learning and analytics, and miniaturization of space computing components.
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What Are The Key Drivers Of The Space On-board Computing Platform Market?
The rise in space exploration missions is expected to propel the growth of the market. Space on-board computing platforms are used in numerous space exploration missions due to their data gathering, storing, analyzing, and distribution capabilities. They enable applications to adapt to new situations or needs and rapidly deploy updates or algorithms for image analysis in space missions. For instance, the United Nations Office for Outer Space Affairs (UNOOSA) received over 2,050 satellite registrations in 2022, and so far in 2023, it has received 2,250 registrations, accounting for 35 percent of all satellites. Hence, the rising number of space exploration missions is driving the space on-board computing platform market growth.
What Are the Major Segments of The Space On-Board Computing Platform Market?
The space on-board computing platform market covered in this report is segmented into the following:
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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Who Are The Major Players In The Space On-board Computing Platform Market?
Major companies operating in the space on-board computing platform market include 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.
What Are the Emerging Trends In the Space On-board Computing Platform Market?
Major companies operating in the market are adopting strategic partnerships to enhance technology integration and expand market reach. For instance, in April 2024, Firefly Aerospace partnered with Klepsydra Technologies to host an AI application on Firefly’s Elytra vehicle, set to launch aboard the Alpha rocket later in the year to showcase dynamic AI application switching and Klepsydra’s AI as a-service solution.
Which Region Held The Largest Share In The Space On-board Computing Platform Market?
North America was the largest region in the space on-board computing platform market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
What Does The Space On-board Computing Platform Market Report 2025 Offer?
The space on-board computing platform is the key core of the spacecraft avionics used for collection, analysis, and processing of data gathered by satellite on-board to provide an exact map of the earth’s surface. The Space On-Board Computing Platform Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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