Space Sensors Market Size, Share & Industry Analysis, By Type (IMU Sensors, GPS Sensors, Star Sensors, Optical Sensors, Synthetic Aperture Radar Sensors, Temperature Sensors, Vibration Sensors, Pressure Sensors, Gas Sensors, and Others), By Platform (Satellite, Launch Vehicle, Rover, and Testing Probes & Space Station), By End-User (Civil, Commercial, and Defense), and Regional Forecast, 2024-2032

The global space sensors market size was valued at USD 6.19 billion in 2023 and is projected to grow from USD 7.44 billion in 2024 to USD 13.02 billion by 2032, exhibiting a CAGR of 7.2% over the forecast period. North America dominated the space sensors market with a market share of 40.71% in 2023. Moreover, the space sensor market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 2,421.6 million by 2032, driven by expanding satellite constellations to boost market size & growth.

Space sensors, also known as "spaceborne sensors”, are specially designed instruments used in space missions to collect valuable data and observations on spacecraft, Earth, celestial bodies or the environment around them. These sensors are of various types, such as optical sensors, infrared sensors, radars, star detectors, IMU devices, GPS trackers and others. They are essential for scientific research, exploration, and monitoring.

Furthermore, space sensors are used in various applications, from observing and studying the Earth’s environment to exploring distant planets and galaxies. They play a vital role in space exploration, weather forecasting, environmental monitoring, and communication. For instance, in March 2021, ABB installed an optical sensor on GHGSat's Hugo satellite to monitor greenhouse gases such as methane. Hugo is the newest member of the GHGSat constellation, and as part of SpaceX's ride-on program, it was launched on January 24, 2021. The rise in space exploration missions by various countries is anticipated to boost market growth during the forecast period.

The COVID-19 pandemic slightly affected the global space sensors industry as supply chain disruptions affected the distribution and production of space-based sensors. Moreover, border closures, lockdowns, and restrictions on movement in several nations disturbed the flow of components, finished products, and raw materials. This delayed sensor manufacturing and delivery affected ongoing space projects, missions, and postponing, particularly those in the launch or planning phase.

Space Sensors Market Trends

Growing Popularity of Quantum Sensors and Nano Technology are Key Trends in the Market

Technological advancements and product innovations are vital trends in the market. Major players in the market are focusing on developing technologically advanced sensors to sustain the conditions of the space environment and improve the reliability and efficiency of the sensors. Quantum sensors can detect minute changes in their surroundings. They can identify items underwater or underground or offer navigational information if the GPS is knocked out or unavailable. They also play an important role in developing practical quantum computing based on quantum bits or qubits in quantum computers.

Qubits are information-gathering and carrying bits that can be created or naturally arise as photons, ions, and neutral atoms. Unlike quantum computers, which require hundreds of thousands of tightly controlled qubits isolated from the environment at usable scales, quantum sensors use the fragility of such quantum states to extract information from the environment.

For instance, in August 2022, a German collaboration led by Q.ANT, Bosch, TRUMPF, and the German Aerospace Center (DLR) intended to use quantum technology to improve satellite measurement stability indefinitely.

By constantly maintaining high-precision attitude control of satellites in their orbits, satellite communication signals can be reliably transmitted. Signals weaken when a satellite moves out of position. Additionally, quantum sensors are essential in gravity sensing and gravitational wave detection, allowing scientists to witness cosmic phenomena such as black hole mergers and neutron star collisions.

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Space Sensors Market Growth Factors

Expanding Satellite Constellations to Boost Market Growth

A swarm of identical or similar artificial beings serving the same objective and controlled by a single entity is referred to as a satellite constellation. These groups are regularly connected to ground stations around the world. They are supposed to be complementary, so they function as systems. To begin, satellites in swarms rotate in many, usually comparable orbits (orbital planes), ensuring continuous or virtually continuous coverage globally.

This way, the individual constellations can overlap a wider area with one Remote Sensing medium. In the near future, our planet will be seeing many more launches from dozens of satellite constellations in orbit. Many sectors, such as the Internet of Things, telecommunications, navigation, weather monitoring and Earth observation, are benefiting from existing or new satellite constellations, which is estimated to bolster the space sensors market growth.

For instance, in September 2022, according to the U.S. Government Accountability Office (U.S. GAO), a U.S.-based independent, nonpartisan government agency that provides various services for the U.S. Congress, the number of active satellites steadily grew in the past few years and then skyrocketed from 1,400 in 2015 to 5,500 by the spring of 2022.

Increasing Government Investments for Defense and Security Applications to Propel Market Growth

The increasing importance of space-based assets in defense and security drives the need for sensors in the market. These sensors are used for monitoring, intelligence gathering, and early warning systems. Space sensors play a crucial role in monitoring and collecting intelligence for defense and security. For the purposes of monitoring possible threats, assessing military activity, and gathering strategic information in a timely fashion, satellites with high-resolution optical sensors, synthetic aperture radar SARs, or other advanced imaging technologies are providing important intelligence data.

For instance, in April 2023, the U.S. Space Force invested in ground and space-based sensors, surveillance systems, and commercial space tracking data to improve space domain awareness. The military branch's fiscal year 2024 budget plan includes USD 584 million for space-tracking activities, such as developing optical telescopes and surveillance satellites, to improve the detection, tracking, and identification of objects orbiting the Earth. Governments are also investing in satellite sensors that detect and track ballistic missile launches and provide early warning systems. As they allow for rapid responses to missile threats and the protection of territories and people, these sensors are essential for national defense.

RESTRAINING FACTORS

Malfunctioning and High Costs of Space Sensors to Hinder Market Growth

The success of a space mission may be directly affected by the failure of spacecraft sensors. To make well-informed choices throughout a mission, the accuracy and reliability of sensor data are essential. Sensor failure may result in insufficient data collection, reduced measurement accuracy, and more severe decision-making processes. This is particularly important in the case of research missions to explore other celestial bodies or monitor Earth's climate and natural disasters.

Under these circumstances, the mission objectives may be impeded and scientific discoveries or the operational goals of the mission can be hampered by information leakage. Hostile conditions, such as strong radiation, vacuum and temperature changes are placed upon space-borne sensors. These environmental conditions may cause sensor degradation, premature wear and tear or even total failure.

For instance, in 2022, the maiden launch of India's Small Satellite Launch Vehicle (SSLV) failed to reach orbit due to a rocket's kick-stage malfunction. ISRO announced that the VTM had failed, placing the satellite in an elliptical orbit of 76 x 356 km instead of the planned 356 km circular orbit, rendering the satellite unusable. This did not detect the sensor error and take corrective action, resulting in the satellite being placed in the wrong orbit.

Space Sensors Market Segmentation Analysis

By Type Analysis

Optical Sensor Segment to Propel Owing to the Increased Applications in Geospatial Imaging

By type, the market is segmented into IMU sensors, GPS sensors, star sensors, optical sensors, synthetic aperture radar sensors, temperature sensors, vibration sensors, pressure sensors, gas sensors, and others.

The optical sensors segment dominates the market and is anticipated to be the fastest-growing segment during the forecast period. Optical sensors can provide high-resolution images and precise measurements of the size, shape, and orientation of objects in space. Such sensors have a major application in geospatial imaging and are anticipated to dominate the segment.

The IMU sensors segment is projected to hold a significant market share during the forecast period. IMU sensors are crucial and used in space missions to measure and track a spacecraft's orientation, position, and speed. With increased space missions, these space sensors are expected to have notable demand during the forecast period.

By Platform Analysis

Satellite Segment Dominates Owing to Increased Satellite Launches by Various Space Agencies

On the basis of platform, the market is segmented into satellite, launch vehicle, rover, and testing probes & space station.

The satellite segment dominated the market in 2023 and is expected to be the fastest-growing segment over the forecast period due to increasing scheduled satellite launches by major public and private satellite operators for numerous applications.

The launch vehicle segment is predicted to grow significantly during the forecast period. Launch vehicles, or launch systems, transport spacecraft from the Earth's surface into space. These launchers have become increasingly popular due to an increase in the number of small satellites used for many applications such as Earth observation, communications, and scientific research.

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By End-User Analysis

Defense Segment to Dominate Owing to Increased Need for Intelligence, Surveillance, and Reconnaissance (ISR) 

By end-user, the market is segmented into civil, commercial, and defense.

The defense segment dominated the market in 2023, as satellites are the main focus of military space activities. They are widely used to support military or security-related activities, such as Intelligence, Surveillance, and Reconnaissance (ISR), verifying compliance with arms control.

The commercial segment is anticipated to grow with the highest CAGR from 2024 to 2032. The growth is attributed to a rise in space tourism, telecommunication, and data transmission by various government and private space agencies.   

REGIONAL INSIGHTS

In terms of geography, the market for space sensors is studied across North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

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North America holds the largest space sensors market share. The market in North America was valued at USD 2.52 billion in 2023. The market’s growth is due to a rise in investment activities by government and private players, such as SpaceX and Blue Origin. The growing demand for space-based applications in this region escalates the market growth and increases the demand for new advanced technological sensors.

Europe is expected to experience significant growth during the forecast period. Growth in the region has been driven by a growing demand for technologically advanced satellites. For instance, in October 2020, the European Space Agency (ESA) signed a contract to develop the world's first iodized electric propulsion system. These important developments are driving the market in this region.

Asia Pacific is anticipated to be the fastest-growing region during the forecast period. The growth in the region is attributed to the growing space sector. China, Japan, and India are leading technological economies investing in space exploration programs and missions.

The Middle East & Africa is expected to rise moderately during the projected timeframe due to the rise in focus from the UAE and Saudi Arabia to increase the space sector and launching ambitious space programs.

Latin America is anticipated to grow significantly with increase in contracts for space launch services in Argentina, Colombia, and Brazil and is estimated to push market growth. In September 2022, Voyager Space signed memorandums of understanding (MoUs) with the Colombian Space Agency, the El Salvador Aerospace Institute, the Mexican Space Agency, the Guatemalan Space Science and Technology Association, and Costa Rican startup Orbital Space Technologies. Nanoracks and Voyager have signed individual MoUs with each agency to open up access to space and promote commercial spaceflight opportunities in their respective countries.

List of Key Companies in Space Sensors Market

Prominent Companies Focus on Cutting-Edge Technology in Space Sensors for Various Applications Boost Market Development

The global market is consolidated with important players, such as ABB, Honeywell Technologies Inc., L3Harris Technologies Inc., Safran, and others. Prominent companies focus on acquisitions, mergers, product innovations, and technological advancements to sustain market competition and increase their market share. Furthermore, the market is observing a significant investment in the R&D of space sensors for various end-users, including civil, commercial, and military.  

LIST OF KEY COMPANIES PROFILED:

• ABB Ltd. (Switzerland)


• Airbus S.A.S (Netherlands)


• Ametek Inc. (U.S.)


• L3Harris Technologies Inc. (U.S.)


• Safran S.A. (France)


• Honeywell International Inc. (U.S.)


• InnaLabs Ltd. (Ireland)


• Raytheon Technologies Corporation (U.S.)


• TE Connectivity (Switzerland)


• Teledyne Technologies Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• January 2024: Lockheed Martin has won a contract to build 18 space vehicles as part of the Tranche 2 Tracking Layer constellation by the Space Development Agency, Inc. (SDA). Lockheed Martin will provide 16 wide field-of-view missile warning/missile tracking space vehicles with infrared sensors and two space vehicles with missile defense infrared sensors that can generate fire control-quality tracks to provide preliminary missile defense mission capabilities.


• November 2023: To detect and track ballistic and hypersonic missiles, the U.S. Space Force has authorized Millennium Space Systems to begin producing six satellites that will be placed in medium Earth orbit. The MEO is a new location for the military's infrared missile detection satellites, which have been deployed in geostationary orbit. A layer of sensors in low Earth orbit is being planned by the Space Force's Space Development Agency.


• June 2023: A research team led by astronomer Michael Bottom at the University of Hawaii Institute for Astronomy (IfA) received USD 4 million from NASA to support exoplanet research. The grant aims to develop a new generation of highly sensitive sensors to observe distant planets and their atmospheres.


• May 2023: Earth observation experts in the U.S. are refocusing the development of space-based sensors for increasingly sophisticated electro-optical satellite payloads to monitor the evolution of the Earth's environment. These satellite sensor payloads are electro-optical, RF, microwave, or a combination of both, including hyperspectral sensors.


• February 2023: NASA developed two weather instruments to test the feasibility of small, inexpensive sensors to perform some of the functions of larger, more expensive satellites. Both instruments have exceeded expectations in test operations and are already providing useful forecast information for tropical cyclones. COWVR (Compact Ocean Wind Vector Radiometer) and TEMPEST (Temporal Experiment of Storm and Tropical Systems) provide measurements of water vapor in the atmosphere.

REPORT COVERAGE

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The report provides a detailed market analysis. It comprises all major aspects such as R&D capabilities, supply chain management, competitive landscape, and optimization of the manufacturing capabilities and operating services. Moreover, the report offers insights into the space sensors market trends, growth, analysis, and size and highlights key industry developments. In addition to the above-mentioned factors, it mainly focuses on several factors that have contributed to the global market growth in recent years.

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