The Business Research Company’s Space Electronics Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Space Electronics Global Market Report 2023 evaluates space electronics market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global space electronics market size is expected to grow from $2.32 billion in 2022 to $2.49 billion in 2023 at a compound annual growth rate (CAGR) of 7.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global space electronics is expected to grow to $3.21 billion in 2027 at a CAGR of 6.6%.
An increase in number of satellites is expected to propel the growth of the space electronics market going forward. A satellite refers to any object that circles a planet, star, or moon. Satellites are vulnerable to charging and discharging and require space components, such as space electronics, with no floating metal. For instance, in 2021, according to the Satellite Industry Association, a US-based organisation representing the top domestic satellite operators, service providers, manufacturers, launch service providers, and ground equipment suppliers, 1,713 commercial satellites were deployed, a rise of more than 40% from 2020, and the space sector launched more satellites than ever before. A total of 4,852 satellites would orbit the planet by the end of 2021, a 179% increase over the previous five years. Therefore, the increasing number of satellites is driving the growth of the space electronics market.
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The space electronics market segments in the report are:
1) By Type: Radiation Hardened, Radiation Tolerant
2) By Component: Microprocessors And Controllers, Sensors, Application-Specific Integrated Circuits; Memory Chips, Power Source Cables, Discrete Semiconductors, Other Components
3) By Platform: Satellite, Launch Vehicles, Deep Space Probes
4) By Application: Communication, Earth Observation, Navigation, Global Positioning System (GPS), Technology Development And Education, Other Applications
The table of contents in TBRC’s space electronics market report includes:
1. Executive Summary
2. Space Electronics Market Characteristics
3. Space Electronics Market Trends And Strategies
4. Space Electronics Market – Macro Economic Scenario
5. Space Electronics Market Size And Growth
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26. Africa Space Electronics Market
27. Space Electronics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Space Electronics Market
29. Space Electronics Market Future Outlook and Potential Analysis
30. Appendix
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