Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Space Electronics Market Size

The global space electronics market reached approximately USD 3.44 billion in 2023. The market is further projected to grow at a CAGR of 5.2% between 2024 and 2032, reaching a value of USD 5.43 billion by 2032.

 

Key Trends in the Market

Space electronics, also termed as astrionics, refers to the science and technology involved in the development and application of electric components, systems, and subsystems utilised in space. They are specially designed for use in satellites, exploration, and spacecraft, among other space related applications.

 

  • The miniaturisation and weight reduction in space electronics is increasing with the surge in complexity of space exploration programmes. These requirements are fuelling the advancements in space technology and aiding the market expansion.
  • Major public and private organisations are investing in space ventures for launching and establishing a communication satellite constellation in LEO. This, in turn, is augmenting the global space electronics market growth.
  • The demand from various governments and civil military domains for space electronic equipment is rising owing to their increasing applications in communication, weather forecasting, global positioning system and surveillance, among others.

 

Space Electronics Market Report Snapshots

Space Electronics Market Size

Space Electronics Market Share

Space Electronics Market Analysis

Space Electronics Companies

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The market reached a value of approximately USD 3.44 billion in 2023.

The market is projected to grow at a CAGR of 5.2% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 5.43 billion by 2032.

The key drivers of the market are technological advancements and modernisation of existing communication satellites.

The key trends of the market include miniaturisation and weight reduction in space electronics, increasing investments in space ventures, and rising demand from governments and civil military domains.

The types of space electronics include radiation hardened and radiation tolerant.

The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The key players considered in the space electronics market report are BAE Systems plc, Cobham Limited, Honeywell International Inc., Microchip Technology Inc., STMicroelectronics N.V, Teledyne Technologies Incorporated, Space Electronics, TT Electronics PLC, and Advanced Micro Devices, Inc, among others.

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