Global Space On-board Computing Platform Market Research Report 2022: Demand for Earth Observation Imagery and Analytics & New Application Areas for Cubesats
DUBLIN, June 20, 2022 /PRNewswire/ -- The "Space On-board Computing Platform Market by Platform, Application (Earth Observation, Navigation, Communication, Military & Scientific), Orbit, Communication Frequency, Technology, and Region (North America, Europe, APAC and RoW) - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The space on-board computing platform market is estimated to be USD 1.3 billion in 2022 and is projected to reach USD 2.3 billion by 2027, at a CAGR of 12.1% from 2022 to 2027.
Growth of this market can be attributed to the rise in trade of space on-board computing platforms, developments in the defense sector, and national security sector.
Public and private initiatives in space exploration with a converging global interest in moon exploration will increase in the coming future. Global government investments in space exploration totaled USD 14.6 billion in 2017, a 6% increase from 2016.
In terms of applications, moon and Mars explorations are expected to account for the majority of space missions to be launched by 2027, as lunar exploration becomes the focus of private and public stakeholders.
18 missions are anticipated to be launched for other deep space exploration, while the remaining missions will be dedicated to Mars exploration. Space explorations provide tangible and intangible benefits for humanity in the long term. The Low Earth Orbit (LEO) research and exploration help provide solutions for various global services, such as communication, global positioning, oceanography, surveillance, and astronomy.
Thus, global expenditures have grown in the past 5 years, driven by programs in leading countries and new countries investing in space exploration. The development of high-tech space onboard computing platforms enables more advanced features. Technological breakthroughs and insights from past space missions have inspired new players to invest in this market due to the significant opportunities.
Small satellites have gained widespread use in commercial, civil, government, and military applications. The affordability of these satellite missions has bolstered civil and commercial applications by offering an inexpensive means of exploring well-focused scientific research objectives, such as monitoring the space radiation environment, updating the international geomagnetic reference field, or providing an early proof-of-concept for the development of colossal infrastructural projects.
Several drawbacks, such as the limited on-board power provision for hardware components support, low accuracy in attitude knowledge, control for remote sensing, and inadequate command and data-handling capabilities, have already been addressed. This has resulted in the development of advanced nanosatellite and microsatellite capabilities.
In-orbit autonomy of such satellites is also being worked upon to further extend mission capabilities. As a result of these developments, small satellites can meet the requirements of various application areas, such as navigation, comunication, and earth observation, thereby opening opportunities for the growth of the nanosatellite and microsatellite markets.
Medium Satellites: The largest segment of the Space on-board computing platform market, by Platform.
Medium satellites have a wet mass (including fuel) between 150 kg and 1,000 kg.
The operational and manufacturing costs of space onboard computing platforms used in medium satellites are higher than those of small satellites because of the presence of additional payloads, a higher requirement of temperature tolerance, and radiation hardness. These satellites are used for applications such as climate & environment monitoring, Earth observation & meteorology, scientific research & exploration, and surveillance & security.
Satellites in the LEO are placed between 500 and 1,500 kilometers above the surface of the Earth. They are visible for a period of 95 to 120 minutes, as the satellites circulate in a lower orbit.
There is a growing demand for space on-board computing platform systems that manage all operations in CubeSats and small satellites, right from orbit control and orbital transfers by controlling propulsion systems to managing its IO devices to perform the required tasks.
The growth of the space sector has led to the greater use of advanced components, which create many opportunities for advancements in space onboard computing platforms. Companies such as MDA (Canada), Endurosat (Bulgaria), and Ramon Space (Israel) are some of the key developers of space onboard computing platforms for LEO satellites that are used for Earth observation, communication, and navigation applications.
The US and Canada are key countries considered for market analysis in the North American region. Space agencies of these countries are involved in the development of technologically advanced space onboard computing platforms.
Well-established and prominent manufacturers of these platforms, such as Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Honeywell International Inc.(US), Raytheon Technologies Corporation (US), and MDA (Canada), are based in this region.
SAAB AB (Sweden), Raytheon Technologies (US), Honeywell International Inc. (US), Thales Group (France), BAE Systems (UK), Leonardo S.p.A. (Italy), and Northrop Grumman Corp. (US)are some of the leading players operating in the space on-board computing platform market report.
Supply Chain Analysis
Emerging Industry Trends
Impact of Megatrends
Innovations and Patent Registrations
Other Key Players
For more information about this report visit https://www.researchandmarkets.com/r/97xy3n
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SOURCE Research and Markets