What Has Been The Evolution of the Space Sensors And Actuators Market in Recent Years?
The space sensors and actuators market has seen considerable growth due to a variety of factors.
• The market size for space sensors and actuators has seen significant expansion in recent years. The market is set to escalate from $7.16 billion in 2024 to $8.54 billion in 2025, indicating a compound annual growth rate (CAGR) of 19.2%. Factors contributing to this growth during the historic period include investments in research and development, measures to mitigate space debris, developments in global positioning systems (GPS), efforts in scientific and space research, applications in military and defense, and advancements in remote sensing and earth observation.
What Is the Forecasted Market Size and Growth Rate for The Space Sensors And Actuators Market Size Evolve over the Forecast Period?
The Space Sensors And Actuators market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipations are set for a swift expansion in the space sensors and actuators market in the forthcoming years. The market is projected to soar to $16.46 billion by 2029, expanding at a compound annual growth rate (CAGR) of 17.8%.
This projected growth during the forecast period may be attributed to various factors such as the commercialization of space activities, focus on cost efficiency, emergence of small satellite platforms, requirements for precision and reliability, and the use of artificial intelligence and autonomous systems in space. The coming years will likely see trends such as miniaturization and cutting-edge technologies, increased space exploration undertakings, demand for remote sensing and earth observation, the incorporation of the Internet of Things and connectivity in space, as well as a decrease in the cost of space missions.
What Factors Are Driving Growth In The Space Sensors And Actuators Market?
The burgeoning deployment of satellites is a key driver of the market for space sensors and actuators. The amount of satellites launched into orbit has significantly surged over the years to collect vital data for numerous purposes such as communication, positioning, navigation, timing (PNT), earth scrutiny, climatic and environmental observation, as well as scientific examination. These satellites utilize sensors and actuators to relay feedback on speed and location. For instance, data from the Union of Concerned Scientists, a nonprofit science advocacy organization based in the US, reveals that by the end of 2022, countries globally had collectively 6,718 active satellites circling the earth, marking a rise of nearly 2,000 satellites in merely one year. Consequently, the escalating number of space launches will stimulate the demand for space sensors and actuators.
What Are The Main Segments Of The Global Space Sensors And Actuators Market?
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
Subsegments:
1) By Sensors: Temperature Sensors, Pressure Sensors, Inertial Sensors (Gyroscopes And Accelerometers), Proximity Sensors, Imaging Sensors (Cameras), Radiation Sensors, Environmental Sensors
2) By Actuators: Electric Actuators, Hydraulic Actuators, Pneumatic Actuators, Smart Actuators, Mechanical Actuators
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What Emerging Trends Are Influencing The Growth Of The Space Sensors And Actuators Market?
Prominent players in the sensors and actuators market for the space industry are concentrating their efforts on technological advancements in their products, such as radiation-resistant memory components, to secure a competitive advantage. This type of memory component is a tailored semiconductor memory capable of resisting the harmful impacts of ionizing radiation, making it suitable for space, nuclear, and high-radiation settings where data storage and retrieval reliability is crucial. For instance, in April 2022, Infineon Technologies LLC, a German semiconductor manufacturer, introduced the first-ever radiation-resistant ferroelectric RAM (F-RAM) featuring a serial interface, developed specifically for extreme conditions. When compared to non-volatile EEPROM (electrically erasable programmable read-only memory) and serial NOR Flash devices aimed at space applications, these novel technologies offer unrivaled reliability, superior data retention, and improved energy efficiency.
Who Are the Key Players In The Space Sensors And Actuators Market?
Major companies operating in the space sensors and actuators market include:
• 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
What Is The Most Dominant Region In The Space Sensors And Actuators Market?
North America was the largest region in the space sensors and actuators market share in 2024. 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.
