The space sensors and actuators 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 Sensors And Actuators 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 sensors and actuators market size has grown rapidly in recent years. It will grow from $6.11 billion in 2023 to $7.3 billion in 2024 at a compound annual growth rate (CAGR) of 19.4%. The growth in the historic period can be attributed to investments in r&d, space debris mitigation, global positioning systems (gps), scientific and space research, military and defense applications, remote sensing and earth observation.
The space sensors and actuators market size is expected to see rapid growth in the next few years. It will grow to $14.37 billion in 2028 at a compound annual growth rate (CAGR) of 18.5%. The growth in the forecast period can be attributed to commercialization of space activities, focus on cost efficiency, emergence of small satellite platforms, precision and reliability requirements, ai and autonomous systems in space. Major trends in the forecast period include miniaturization and advanced technologies, increased space exploration missions, demand for remote sensing and earth observation, iot and connectivity in space, cost reduction in space missions.
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Scope Of Space Sensors And Actuators 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.
Space Sensors And Actuators Market Overview
Market Drivers –
The surging number of satellites launched frequently drives the space sensors and actuators market. The number of satellites deployed into orbit has greatly expanded over time in order to gather pertinent data that can be used for a variety of functions, including communications, positioning, navigation, and timing (PNT), earth imaging, climate and environment monitoring, and scientific research. These satellites employ sensors and actuators to provide feedback on velocity and position. For instance, according to Union of Concerned Scientists, a US-based nonprofit science advocacy organization, at the end of 2022, countries had a total of 6,718 active satellites orbiting the planet, an increase of nearly 2,000 satellites in just 1 year. Therefore, the rising number of space launches will increase demand for space sensors and actuators.
Market Trends –
Technological advancement is a key trend in the space sensors and actuators market. Major players are focusing on advancements in product technology, such as radiation-hardened space sensors, to gain a competitive edge in the market. For instance, in April 2022, Infineon Technologies LLC, a German-based semiconductor manufacturer, launched the first ferroelectric RAM (F-RAM) with a serial interface that has been radiation-hardened (rad-hard) for use in harsh situations. Compared to non-volatile EEPROM (electrically erasable programmable read-only memory) and serial NOR Flash devices for space applications, the new technologies provide unmatched dependability and data retention while using less energy.
The space sensors and actuators market covered in this report is segmented –
1) By Product Type: Sensors, Actuators
2) By Platform: Satellites, Capsules Or Cargos, Interplanetary Spacecraft And Probes, Rovers Or Spacecraft Landers, Launch Vehicle
3) By Application: Attitude And Orbital Control System, Command And Data Handling System, Telemetry, Tracking And Command, Thermal System, Propellent Feed System, Rocket Motors, Surface Mobility And Navigation System, Berthing And Docking System, Robotic Arm Or Manipulator System, Thrust Vector Control System, Engine Valve Control System, Solar Array Drive Mechanism, Other Applications
4) By End User: Commercial, Government, Defense
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Regional Insights –
North America was the largest region in the space sensors and actuators market share in 2023. The regions covered in the space sensors and actuators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the space sensors and actuators market report are TE Connectivity Ltd., Ametek Inc., Analog Devices Inc., Bradford Space Inc., Honeywell International Inc., Innovative Sensor Technology IST AG, Lockheed Martin Corporation, Maxar Technologies Inc., MinebeaMitsumi Inc., Moog Inc., Northrop Grumman Corporation, Renesas Electronics Corporation, Teledyne UK Limited, Texas Instruments Incorporated, Cedrat Technologies SA, InnaLabs Limited, Leonardo DRS Inc., Sierra Nevada Corporation, Rüstungs Unternehmen AG, STMicroelectronics N.V., Raytheon Technologies Corporation, Digi-Key Electronics Pvt. Ltd., Minebea Intec GmbH, Ball Aerospace & Technologies Corp., BAE Systems plc, L3Harris Technologies Inc., Thales Group, Airbus Defence and Space, Safran Electronics & Defense, Sensata Technologies Holding plc, Kistler Holding AG, First Sensor AG, MTS Systems Corporation, Curtiss-Wright Corporation, Parker Hannifin Corporation, Woodward Inc., Eaton Corporation plc, Spanish Society of Engineering and Construction, Space Inventor A/S
Table of Contents
1. Executive Summary
2. Space Sensors And Actuators Market Report Structure
3. Space Sensors And Actuators Market Trends And Strategies
4. Space Sensors And Actuators Market – Macro Economic Scenario
5. Space Sensors And Actuators Market Size And Growth
…..
27. Space Sensors And Actuators Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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