Space Sensors and Actuators Market

Space Sensors and Actuators Market is accounted for USD 8,124 million in 2020, growing at a robust CAGR of 18.5% during forecast period

Introduction of the Space Sensors and Actuators Market Report
An actuator is a device that supports achieving physical movements by transforming energy into mechanical force by interfering in commercial, residential, and agricultural processes. On the other hand, the sensor indicates and detects specific physical quantities such as light, pressure, heat, motion, moisture, and other similar entities. Sensors give input to a system, while actuators obtain output from a system. Sensors can be used in various applications ranging from seismic research underground to satellites in space. Actuators and sensors are important in devices and robots of the future.

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Market Dynamic
Key Drivers and Emerging Trends
Technological advancements in space science and technology along with surge in the number development of radiation-hardened electro-optical space sensors have boosted the space sensors and actuators market growth. For instance, In July 2020, the US Air Force Research Laboratory contracted with Ball Aerospace (US) for infrared radiation effects on electro-optical sensors such as infrared and visible-light focal plane arrays. FPAs are the retinas of satellite-based infrared imaging sensors for military surveillance and reconnaissance. Countries sending small aerial machinery and space vehicles for soil patterns, forecasting weather telecommunication, and border security. Additionally, rising preference for small sized satellites with high precision machinery resulted in boosting the growth of Space Sensors and Actuators market. Furthermore, several start-up company are investing R & D will further boost the growth of this market. For instance, Singapore based start-up Atomionics has invested USD 2.5 million to build Quantum Sensors.

Restraint in the Space Sensors and Actuators Market
However, presence of complex mechanisms and high cost requirement to develop space-based technology is hampering the growth of Space Sensors and Actuators Market.

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Platform – Segment Analysis
Based on the Platform, the satellite segment is expected to grow at a higher CAGR rate in the global Space Sensors and Actuators Market during the forecast period. The increase in space expedition programs such as deep space exploration and scientific research will boost the demand for satellite platforms, thereby driving the space sensors and actuators market growth.

End-User – Segment Analysis
Based on the End-User, the commercial segment is expected to grow at a higher rate over the forecast period in the Space Sensors and Actuators Market due to the growth of satellite constellation providers such as One Web, Kuiper Systems, SpaceX, and Telesat launching small satellites into the lower Earth orbit and commercial space exploration companies launching space exploration missions into Mars and Moon. Additionally, space exploration by private players such as SpaceX, Blue Origin etc is an ideal investment for exploration activities in space. Thus, these augments boosted the growth of this segment.

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Regional – Segment Analysis:
Based on the region, North America region is expected to capture a significant market share in the global Space Sensors and Actuators Market as US is the largest market for space and actuators in North America. The increasing demand for commercial lunar moon and mars missions, growing deployment of CubeSats and orbiter satellites in moon exploration and planned commercial crewed missions for planetary exploration are key factors driving the market growth in this region. The growth of this market can be attributed to presence of key players such as Blue Origin, SpaceX, and Maxar Technologies among others have positively boosted the growth of this market.

Top Market Players
Various notable players operating in the market, include, Honeywell International Inc., Innovative Sensor Technology IST AG, Digi-Key Electronics., Lockheed Martin Corporation., Northrop Grumman, Moog Inc., Bradford Space, TE Connectivity, Maxar Technologies, Minebea Intec GmbH, among others.

Key Developments:

• • In May 2021, Raytheon Technologies won the contract from US Space Force to develop digital models of sensor technology for future missile warning satellite constellations.
  • In May 2020, Maxar Technologies launched integrating Earth-imaging sensors built by Raytheon Intelligence & Space with WorldView Legion satellites.

Segments covered in the Report:
The global Space Sensors and Actuators Market has been segmented on the basis of Platform, End-User, and regions. Based on Platform, the market is segmented into Satellites, Capsules/Cargos, Interplanetary Spacecraft & Probes, Rovers/Spacecraft Landers and Launch Vehicle. Based on End-User, the market is segmented into Commercial and Government and Defence.

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Key questions answered in this research report:

• • At what pace is global Space Sensors and Actuators Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Space Sensors and Actuators Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Space Sensors and Actuators Market?
  • Which Platform generated maximum revenues in 2020 and identify the most promising Platform during the forecast period?
  • What is the various End-User of global Space Sensors and Actuators Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Space Sensors and Actuators Market by Platform

• • Satellites
  • Capsules/Cargos
  • Interplanetary Spacecraft & Probes
  • Rovers/Spacecraft Landers
  • Launch Vehicle

Global Space Sensors and Actuators Market by End-User

• • Commercial
  • Government and Defence

Global Space Sensors and Actuators Market by Region

• • North America Space Sensors and Actuators Market (Option 1: As a part of the free 25% customization)
    • North America Space Sensors and Actuators Market by Platform
    • North America Space Sensors and Actuators Market by End-User
    • US Space Sensors and Actuators Market All-Up
    • Canada Space Sensors and Actuators Market All-Up
  • Europe Space Sensors and Actuators Market (Option 2: As a part of the free 25% customization)
    • Europe Space Sensors and Actuators Market by Platform
    • Europe Space Sensors and Actuators Market by End-User
    • UK Space Sensors and Actuators Market All-Up
    • Germany Space Sensors and Actuators Market All-Up
    • France Space Sensors and Actuators Market All-Up
    • Spain Space Sensors and Actuators Market All-Up
    • Rest of Europe Space Sensors and Actuators Market All-Up
  • Asia-Pacific Space Sensors and Actuators Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Space Sensors and Actuators Market by Platform
    • Asia-Pacific Space Sensors and Actuators Market by End-User
    • China Space Sensors and Actuators Market All-Up
    • India Space Sensors and Actuators Market All-Up
    • Japan Space Sensors and Actuators Market All-Up
    • Rest of APAC Space Sensors and Actuators Market All-Up
  • RoW Space Sensors and Actuators Market (Option 4: As a part of the free 25% customization)
    • RoW Space Sensors and Actuators Market by Platform
    • RoW Space Sensors and Actuators Market by End-User
    • Brazil Space Sensors and Actuators Market All-Up
    • South Africa Space Sensors and Actuators Market All-Up
    • Saudi Arabia Space Sensors and Actuators Market All-Up
    • UAE Space Sensors and Actuators Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Space Sensors and Actuators Market All-Up

Major Players Operating in the Market Name (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Honeywell International Inc.
  • Innovative Sensor Technology IST AG
  • Digi-Key Electronics.
  • Lockheed Martin Corporation.
  • Northrop Grumman
  • Moog Inc.
  • Bradford Space
  • TE Connectivity
  • Maxar Technologies
  • Minebea Intec GmbH