Global Space Sensors and Actuators Market Size By Type (Sensors, Actuators), By Platform (Satellites,Capsules/Cargos, Launch Vehicle), By Geographic Scope And Forecast
Report ID: 355410|No. of Pages: 202
Global Space Sensors and Actuators Market Size By Type (Sensors, Actuators), By Platform (Satellites,Capsules/Cargos, Launch Vehicle), By Geographic Scope And Forecast
Space Sensors and Actuators Market Size And Forecast
Space Sensors and Actuators Market size was valued at USD 2.38 Billion in 2023 and is projected to reach USD 6.5 Billion by 2030, growing at a CAGR of 11.2% from 2024 to 2030.
The Global Space Sensors and Actuators Market is witnessing a rapid growth rate over the past few years. Continued investments by governments in space exploration, national security, and scientific research contribute to the growth of the space sensor and actuator market. Space sensors play a critical role in monitoring and gathering data on climate change, which has become a global concern. This drives the demand for improved sensing technologies. The Global Space Sensors and Actuators Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Space Sensors and Actuators Market Definition
Space sensors are devices used to detect and measure various phenomena in space, such as electromagnetic radiation, particles, temperature, and more. These sensors offer astronauts environmental information about spacecraft and the external environment. Space sensors assist in the scientific research, observation, and discoveries of the earth and atmosphere. In addition to this, sensors help to ensure astronauts’ safety.
Actuators, on the other hand, are mechanisms that control or manipulate physical systems in response to sensor data or other inputs. In the context of space, actuators are often used to adjust the orientation, position, or behavior of spacecraft or satellites based on the information provided by sensors. These technologies are crucial for navigation, communication, data collection, and overall operation of space missions
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Global Space Sensors and Actuators Market Overview
The Space Sensors and Actuators Market is growing at an exponential growth rate for the past few years. The growing interest in space exploration, both by government space agencies and private companies, is driving the demand for advanced sensors and actuators to support various missions, such as satellite deployment, planetary exploration, and space telescopes. The rise of satellite constellations for communication, Earth observation, and global positioning systems requires a large number of sensors and actuators to ensure precise positioning, communication, and maintenance of these satellite networks. The emergence of space tourism and commercial space activities necessitates the use of sensors and actuators for safety, navigation, and overall operational control during spaceflights.
However, the factors such as high costs, regulatory compliances, complexity, and reliability of the space sensors and actuators could restrain the growth of the market over the forecast period. Developing and manufacturing sensors and actuators that can withstand the extreme conditions of space is expensive. The high costs can deter some companies and organizations from investing in these technologies. Regulatory and licensing issues can slow down the deployment of space-based technologies, including sensors and actuators. Compliance with international agreements and regulations can be a complex process.
In addition to this, space missions require highly reliable components due to the difficulty and cost of repairing or replacing them once in space. Therefore, ensuring the reliability and longevity of sensors and actuators can be challenging. Despite the challenges, rising investment by various governments in space programs is offering various growth opportunities in the market over the forecast period. Countries including India, China, South Korea, U.S., Israel, and EU members are increasingly investing in space missions.
Global Space Sensors and Actuators Market Segmentation Analysis
The Global Space Sensors and Actuators Market is Segmented on the basis of Type, Platform, And Geography.
Space Sensors and Actuators Market, By Type
- Sensors
- Actuators
Based on Type, the market is segmented into sensors and actuators. The space sensor segment held a significant market share in the Global Space Sensors and Actuators Market in 2022. Space sensors play a crucial role in space exploration, satellite missions, and other space-related activities. They are designed to withstand the harsh conditions of outer space and provide accurate data for scientific research, navigation, communication, and more. Space sensors can include instruments for measuring light, radiation, temperature, pressure, magnetic fields, and various other parameters that help scientific observation and monitoring.
Space Sensors and Actuators Market, By Platform
- Satellites
- Capsules/Cargos
- Interplanetary Spacecraft & Probes
- Rovers/Spacecraft Landers
- Launch Vehicle
Based on Platform, the market is segmented into satellites, capsules/cargos, interplanetary spacecraft & probes, rovers/spacecraft landers, and launch vehicle. The satellite segment accounted for a considerable market share in the Global Space Sensors and Actuators Market in 2022. The increasing demand for space sensors and actuators is particularly evident in the satellites. Satellites rely on these components for tasks such as precise positioning, data collection, imaging, and communication. As satellite technology advances and becomes more accessible, the need for high-quality sensors and efficient actuators to enhance satellite capabilities will likely keep growing over the forecast period.
Space Sensors and Actuators Market, By End User
- Commercial
- Government and Defense
Based on End User, the market is segmented into commercial and government and defense. The commercial segment accounted for a considerable market share in the Global Space Sensors and Actuators Market in 2022. The commercial sector is anticipated to grow at the highest CAGR over the forecast period. The rise in commercial space programs has generated a higher demand for space sensors and actuators. These components are vital for satellite navigation, communication, Earth observation, and other functions critical to the success of commercial space ventures. As more companies enter the space industry, the need for advanced sensor and actuator technologies is expected to continue growing.
Space Sensors and Actuators Market, By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
On the basis of Geography, the Global Space Sensors and Actuators Market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The North America region held the highest market share in the Global Space Sensors and Actuators Market in the year 2022. The presence of several key manufacturers of space sensors & actuators across the region is one of the primary factors driving the growth of the market.
In addition to this, the U.S. country is increasingly investing in space programs Government agencies—particularly NASA, the US Department of Defense, and the intelligence community—have long held the purse strings to space investment. The Asia Pacific region is anticipated to grow at the highest CAGR over the forecast period. The countries such as India and China are launching their space programs over the past few years. According to a Space Foundation report, India increased its spending by 36 percent, while China’s investments increased by 23 percent on military and civilian space programs in 2022.
Key Players
The “Global Space Sensors and Actuators Market” study report will provide valuable insight with an emphasis on the global market including some of the major players of the industry are MinebeaMitsumi Inc., Moog Inc., Honeywell International Inc., TE Connectivity, Texas Instruments Incorporated, Renesas Electronics Corporation, RUAG Group, Bradford Space, Teledyne UK Limited, AMETEK.Inc., Leonardo DRS, Analog Devices, Inc., STMicroelectronics, IST AG, Raytheon Technologies Corporation, Maxar Technologies Inc. Cedrat Technologies, Cobham Advanced Electronic Solutions, Sierra Nevada Corporation, and Venture MFG. Co. among others.
Our market analysis offers detailed information on major players wherein our analysts provide insight into the financial statements of all the major players, product portfolio, product benchmarking, and SWOT analysis. The competitive landscape section also includes market share analysis, key development strategies, recent developments, and market ranking analysis of the above-mentioned players globally.
Key Developments
- In July 2022, Honeywell announced the partnership with Archer Aviation Inc. to supply flight control actuation and thermal management technologies.
- In July 2023, STMicroelectronics announced the launch of a new FlightSense multi-zone distance sensor with 90° field of view – the 33% larger than the previous generation.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2020-2030 |
| BASE YEAR | 2023 |
| FORECAST PERIOD | 2024-2030 |
| HISTORICAL PERIOD | 2020-2022 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | MinebeaMitsumi Inc., Moog Inc., Honeywell International Inc., TE Connectivity, Texas Instruments Incorporated, Renesas Electronics Corporation, RUAG Group, Bradford Space, Teledyne UK Limited, AMETEK.Inc., Leonardo DRS, Analog Devices, Inc. |
| SEGMENTS COVERED |
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| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Research Methodology of Verified Market Research:
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
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Frequently Asked Questions
1 INTRODUCTION OF THE GLOBAL SPACE SENSORS AND ACTUATORS MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL SPACE SENSORS AND ACTUATORS MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL SPACE SENSORS AND ACTUATORS MARKET, BY TYPE
5.1 Overview
5.2 Sensors
5.3 Actuators
6 GLOBAL SPACE SENSORS AND ACTUATORS MARKET, BY PLATFORM
6.1 Overview
6.2 Satellites
6.3 Capsules/Cargos
6.4 Interplanetary Spacecraft & Probes
6.5 Rovers/Spacecraft Landers
6.6 Launch Vehicle
7 GLOBAL SPACE SENSORS AND ACTUATORS MARKET, BY END USER
7.1 Overview
7.2 Commercial
7.3 Government and Defense
8 GLOBAL SPACE SENSORS AND ACTUATORS MARKET, BY GEOGRAPHY
8.1 Overview
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 U.K.
8.3.3 France
8.3.4 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 Rest of Asia Pacific
8.5 Latin America
8.5.1 Brazil
8.5.2 Argentina
8.5.3 Rest of Latin America
8.6 Middle East and Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 South Africa
8.6.4 Rest of Middle East and Africa
9 GLOBAL SPACE SENSORS AND ACTUATORS MARKET COMPETITIVE LANDSCAPE
9.1 Overview
9.2 Company Market Ranking
9.3 Key Development Strategies
9.4 Company Industry Footprint
9.5 Company Regional Footprint
9.6 Ace Matrix
10 COMPANY PROFILES
10.1 MinebeaMitsumi Inc.
10.1.1 Overview
10.1.2 Company Insights
10.1.3 Business Breakdown
10.1.4 Product Outlook
10.1.5 Key Developments
10.1.6 Winning Imperatives
10.1.7 Current Focus and Strategies
10.1.8 Threat From Competition
10.1.9 Swot Analysis
10.2 TE Connectivity
10.2.1 Overview
10.2.2 Financial Performance
10.2.3 Product Outlook
10.2.4 Key Developments
10.3 Moog Inc.
10.3.1 Overview
10.3.2 Financial Performance
10.3.3 Product Outlook
10.3.4 Key Developments
10.4 Honeywell International Inc.
10.4.1 Overview
10.4.2 Financial Performance
10.4.3 Product Outlook
10.4.4 Key Developments
10.5 Renesas Electronics Corporation
10.5.1 Overview
10.5.2 Financial Performance
10.5.3 Product Outlook
10.5.4 Key Development
10.6 Texas Instruments Incorporated
10.6.1 Overview
10.6.2 Financial Performance
10.6.3 Product Outlook
10.6.4 Key Development
10.7 STMicroelectronics
10.7.1 Overview
10.7.2 Financial Performance
10.7.3 Product Outlook
10.7.4 Key Development
10.8 RUAG Group
10.8.1 Overview
10.8.2 Financial Performance
10.8.3 Product Outlook
10.8.4 Key Development
10.9 Analog Devices, Inc.
10.9.1 Overview
10.9.2 Financial Performance
10.9.3 Product Outlook
10.9.4 Key Development
10.10 Raytheon Technologies Corporation
10.10.1 Overview
10.10.2 Financial Performance
10.10.3 Product Outlook
10.10.4 Key Development
11 Appendix
11.1.1 Related Reports
Report Research Methodology
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Exploratory data mining
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Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
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Econometrics and data visualization model
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- Established market players
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The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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