Overview and Scope
Space sensors are devices that measure various quantities while the satellite is in flight. These sensors serve as the satellite’s ‘eyes’ and ‘ears. Actuators are used to apply force or torque to the satellite body to bring it into the proper orientation. The space sensors and actuators provide feedback on the velocity and position of satellites, eventually increasing their effectiveness.
Sizing and Forecast
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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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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
The space sensors and actuators market report table of contents includes:
- Executive Summary
- Space Sensors And Actuators Market Characteristics
- Space Sensors And Actuators Market Trends And Strategies
- Space Sensors And Actuators Market – Macro Economic Scenario
- Global Space Sensors And Actuators Market Size and Growth
- Space Sensors And Actuators Market Segmentation
- Space Sensors And Actuators Market Regional And Country Analysis
…………….
- Key Mergers And Acquisitions In The Space Sensors And Actuators Market
- Space Sensors And Actuators Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Space Sensors And Actuators Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Space Sensors And Actuators Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Space Sensors And Actuators Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
……………..
Table 75: TE Connectivity Ltd. Financial Performance
Table 76: Ametek Inc. Financial Performance
Table 77: Analog Devices Inc. Financial Performance
Table 78: Bradford Space Inc. Financial Performance
Table 79: Honeywell International Inc Financial Performance
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