The Space Electronics market has continued to have solid performance amidst a number of dynamic forces shaping the Space Electronics market, such as a potential trade war, skilled talent shortages, and straining supply chains. . The Space Electronics market accounted for $XX million in 2018, and is expected to reach $XX million by 2024, registering a CAGR of YY% from 2019 to 2024.
Space is an extremely hazardous environment with the presence of lethal radiation, micrometeoroids, highly fluctuating temperatures, and man-made debris, which may cause different types of issues for electronic components from simple bit flips to the dangerous complete burnout of electronic systems. The effects produced by the radiation on the space electronics, such as Single Event Effect (SEE) and Total Ionizing Dose (TID), can be rectified by the radiation-hardening process. The process makes the electronic components capable to operate reliably for eons in the harsh space environment but at a very high cost. Increasing production of satellites, especially small satellites; market entry of commercial space companies; increasing involvement of a number of countries in the space community; an increased demand for reducing the cost of electronic components; and the technological advancements are some major factors that are burgeoning the demand for electronics in the space industry.
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List of key players profiled in the Space Electronics market research report:
BAE Systems Plc., Cobham Plc., HEICO Corporation, Honeywell International Inc., Microsemi Corporation, ON Semiconductor, ST Microelectronics N.V., Texas Instruments, Teledyne e2v, TT Electronics Plc., Xilinx Inc. ,
By Platform Type
Satellite, Launch Vehicle, Others
By Component Type
Discrete Semiconductors, Optoelectronics, Integrated Circuits, Others ,
By Subsystem Type
Electrical Power Subsystem, Attitude & Velocity Control Subsystem, Telemetry, Tracking & Command Subsystem, Communication Subsystem, Others
By Product Type
Radiation-Hardened Electronics, Radiation-Tolerant Electronics ,
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The global Space Electronics market is segmented based on product, end user, and region.
Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, Italy, Spain, France, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, Taiwan, and, rest of Asia-Pacific) and EMEA (Brazil, South Africa, Saudi Arabia, UAE, rest of EMEA).
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Moreover, other factors that contribute toward the growth of the Space Electronics market include favorable government initiatives related to the use of Space Electronics. On the contrary, high growth potential in emerging economies is expected to create lucrative opportunities for the market during the forecast period.
Key Benefits for Stakeholders from Space Electronics Market Report:
This report entails a detailed quantitative analysis along with the current global Space Electronics market trends from 2019 to 2026 to identify the prevailing opportunities along with the strategic assessment.
The Space Electronics market size and estimations are based on a comprehensive analysis of key developments in the industry.
A qualitative analysis based on innovative products facilitates strategic business planning.
The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the Space Electronics industry.
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