The Worldwide Space Sensors and Actuators Industry is Projected to Reach $4.9 Billion by 2027
DUBLIN, Jan. 19, 2023 /PRNewswire/ -- The "Space Sensors and Actuators Market by Product Type (Sensors and Actuators), Platform (Satellites, Capsules\Cargos, Interplanetary Spacecraft & Probes, Rovers/Spacecraft Landers, Launch Vehicles), Application, End User, Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The space sensors and actuators market is projected to grow from USD 2.7 Billion in 2022 to USD 4.9 Billion by 2027, at a CAGR of 12.7% from 2022 to 2027.
Based on End User, the commercial segment is expected to lead the space sensors and actuators market from 2022 to 2027.
Space exploration is an ideal investment option for private players to increase their exploration activities in space. The commercial segment has been further classified into the NewSpace industry, satellite operators & owners, space robotic solution providers, space exploration companies, and satellite and launch vehicle manufacturers.
For instance, in October 2022, SpaceX announced the successful launch of 53 Starlink satellites, boosting its internet-beaming space network to 3,558 satellites. Additionally, on December 2022, OneWeb Satellites, a joint venture between OneWeb, British Government and Airbus Defense and Space to design and manufacture satellites, launched around 40 satellites for the OneWeb constellation from Kennedy Space Center, US.
Based on platform, the satellite segment is estimated to lead the space sensors and actuators market from 2022 to 2027.
Based on the platform, the satellite segment is estimated to lead the space sensors and actuators market from 2022 to 2027 and is projected to grow further. Satellites carry a variety of sensors measuring bio-geophysical parameters such as sea surface temperature, nitrogen dioxide or other atmospheric pollutants, winds, aerosols, and biomass.
These parameters can be evaluated through statistical and spectral analysis techniques. Satellites require swift movement for effective space operation. This swift movement is achieved by the actuators that provide a high torque control capacity. Venture Mfg. is one of the manufacturers of different types of linear actuators for satellite applications
The North America region is estimated to account for the largest share of Space sensors and actuators market in 2022.
Based on region, North America is expected to lead the space sensors and actuators market from 2022 to 2027. There is strong political support in North America for adoption of advanced satellites.
Another key factor fueling the growth of the space sensors and actuators market in the region is that a large number of leading developers of space sensors and actuators are concentrated in North America, with clear policies laid out for dealing with government agencies on defense matters. The satellite industry of North America is the largest in the world.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.5 Space Sensors and Actuators Market Ecosystem
5.5.1 Prominent Companies
5.5.2 Private and Small Enterprises
5.6 Average Selling Prices
5.7 Recession Impact on Market Analysis
5.8 Porter's Five Forces Analysis
5.9 Tariff and Regulatory Landscape
5.10 Operational Data
5.11 Trade Analysis
5.12 Key Stakeholders and Buying Criteria
5.13 Key Conferences and Events in 2022-2023
6 Industry Trends
7 Space Sensors and Actuators Market, by Product Type
8 Space Sensors and Actuators Market, by Platform
9 Space Sensors and Actuators Market, by Application
10 Space Sensors and Actuators Market, by End-user
11 Regional Analysis
12 Competitive Landscape
13 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/3dv8a7
SOURCE Research and Markets