Space-based Smart Sensors and Electronics Market Size, Share and COVID-19 Impact Analysis, By Type (Satellites, Launch Vehicles, Deep Space Probes, Transistors And Actuators, and Others), By Application (Active remote, Passive remote, Temperature, Pressure, Magnetic, and Others), By Detection Type (Compact Full-Field Ion Detector, Low-Power Charged Particle Detector, and UV Photodetector), By Radiation Type (Radiation Hardened and Radiation Tolerant), and Regional Forecast, 2024-2032

The Space based Smart Sensors and Electronics Market is witnessing considerable expansion globally, with a significant CAGR anticipated throughout the forecast period extending to 2032. A smart sensor is a device that enables a more accurate and automated collection of environmental data with less erroneous noise and uses built-in compute resources to analyze predefined functions for the detection and operation of the input data. The success of any space mission depends on performing, monitoring, and controlling an extensive amount of functions onboard any spacecraft. Smart sensors and other electronic devices are used in satellites or other space-based vehicles for environmental conditions, scientific research, and military and defense-related data provision. 

Key Market Insights:

Due to the growing need for small satellites and the improved dependability and functionality of launch vehicles and deep space probes, the market for space-based smart sensors and electronics is becoming increasingly significant. In 2022, about 2300 small satellites will be launched, an increase of 32% from earlier. Moreover, one of the major elements that may fuel market expansion in the upcoming years is the rising use of Commercial-Off-The-Shelf (COTS) components.

Also, the space-based sensors’ driving force is mass optimization of the sensor and reliability. For example, injecting a 1 kg heavy sensor in Leo costs approximately 1000 USDs; Geo costs nearly 50000 US dollars. Also, the sensors and actuators’ reliability is preferable for 2 to 10 years. The key restraining factors for space-based sensors and electronics are the extreme temperature, the absence of oxygen in space, and the change in pressure level. Heavily contaminated space surfaces can cause electrostatic discharge due to increased space debris. For example, a catalyst Space Sensor Fault is generated when the space temperature readings within the catalyst system show abnormally high (248° F) or low (-40° F) readings.

One of the major opportunities of this market is the application of solar sensors due to technological advancement in solar micro-electro-mechanical systems. Solar sensors have many spatial applications, such as light source tracking, radiation control, solar tracking platform controller, drone altitude determination, and many more. STN, or star tracker for Nano-satellites, is a special type of solar sensor that has been selected to launch in an ESA mission.

Impact of COVID-19 on the Space-based Smart Sensors and Electronics Market:

The COVID-19 pandemic is expected to impact the space-based smart sensors and electronics market significantly. Global disruption in the supply chain industry resulted in reduced production and delayed delivery during the initial phase of the pandemic. But later, the pandemic accelerated remote sensing and created safe, smart spaces, which could increase the demand for smart sensors for the space industry. However, due to increased demand, the increased competition could drive lower prices, and it is good for small players to cater to this market. Overall, the space-based smart sensors and electronics market is expected to experience moderate growth due to the COVID-19 pandemic.

The space-based smart sensors and electronics market can be segmented into different types. By different types, it can be segmented into satellites, launch vehicles, deep space probes, transistors and actuators, and others. Based on application, the market can be divided into active remote, passive remote, temperature, pressure, magnetic, and others. Based on detection types, this market can be fragmented into compact full-field ion detector, low-power charged particle detector, and UV photo detector. From a geographical view, the market is categorized into North America, Europe, Asia Pacific, and Rest of the World.

Key Insights:

The report will cover the following key insights:

• The report analyzes a detailed industry overview, including qualitative and quantitative information.


• The report analyzes an overview and forecast of the space-based smart sensors and electronics market based on various segments.


• The report also analyzes comprehensive PEST analysis for all five regions, i.e. North America, Europe, Asia Pacific, and Rest of the World after evaluating economic, social, political and technological factors affecting the impact of the space-based smart sensors and electronics market in these regions.

Regional Analysis:

North American region has captured the most significant market share in the Space-based Smart Sensors and Electronics Market during the forecasted period. Increasing investment in space research activities in the U.S. boosts this market’s growth. For example, the U.S. government allocated USD 24 billion for F.Y. 2022, a 7% increase from last year. Also, the robust presence of top global players such as Sierra Nevada Corporation, Honeywell International Inc., Moog Inc., etc., and the rise of space launches from NASA drives the U.S. space sensor market. For instance, in 2021, NASA’s Space Launch System was launched to make a platform that sends human beings to the moon and solar system for deeper research.

Key Players Covered:

• Ametek Inc


• BAE Systems


• Cobham PLC


• Data Device Corporation (Transdigm)


• Exxelia


• Honeywell International


• Infineon Technologies, Moog Inc


• Micropac Industries


• Solid State Device Inc


• STMicroelectronics N.V


• Teledyne Technologies Incorporated


• Texas Instrument


• TT Electronics


• Xilinx Inc


• Others

Segmentation:

Key Industry Developments:

• In April 2023, Rocket Lab Inc., a global leader based in the US in space and launch services, announced a new star-tracker, ST 16V, an attitude determination sensor based on Rocket-labs existing high-performance tracker evolved for mass manufacturing.


• In January 2023, Veritas Capital, a New-York based private firm, acquired CAES Space Systems, a subsidiary of UK-based Cobham, for USD 2 billion, and CAES named Frontgrade that includes space related sensors and electronics that were part of CAES, hence endures to serve a mix of other commercial and defense market groups.


• In December 2022, Advent International, a private equity firm in the US, acquired Maxar Technologies, Space manufacturing company, for USD 6.4 billion to quicken investment in and expansion of the company’s next-generation satellite knowledges and data insights for its customers