Dublin, March 17, 2025 (GLOBE NEWSWIRE) — The “Space Electronics Market Report 2025” has been added to ResearchAndMarkets.com’s offering.
The space electronics market size has grown strongly in recent years. It will grow from $2.63 billion in 2024 to $2.81 billion in 2025 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to space exploration initiatives, significant investment in satellite manufacturing, increase in demand for space electronics products, rising prevalence of space operations, rising satellite launch and deep space activities.
The space electronics market size is expected to see strong growth in the next few years. It will grow to $3.62 billion in 2029 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to radiation-hardened space electronics market growth, rise in launch activities, miniaturization and increased efficiency, rapid growth in investment in space ventures, adoption of new materials for better fabrication of space electronics.
Major trends in the forecast period include advancements in radiation-tolerant semiconductor technologies, digitalization and software-defined systems, high-performance computing for space missions, photonics and optoelectronics in space communication, focus on cybersecurity in space systems, sustainable electronics for space.
The growing number of satellites is anticipated to drive the expansion of the space electronics market in the coming years. The rise in satellite numbers is primarily due to the increasing demand for global communication and connectivity. Satellites are susceptible to charging and discharging, necessitating space components like space electronics that contain no floating metal. For example, in 2023, the Organisation for Economic Co-operation and Development, a France-based intergovernmental organization, reported that the population of operational satellites in orbit increased to over 6,700 by 2022. Thus, the rising number of satellites is propelling the growth of the space electronics market.
The escalating investment in space programs is expected to further boost the growth of the space electronics market in the future. Space programs involve organized and coordinated efforts by governments, space agencies, or private entities to explore, utilize, and comprehend outer space. Increased investment in space electronics supports the development of advanced technologies essential for satellite communication, exploration, and scientific research. For instance, in April 2024, the World Economic Forum projected that the space economy could reach $1.8 trillion by 2035, driven by space-enabled technologies. The Space Foundation reported that in 2023, the global space economy grew by 7.4% to $570 billion, with commercial revenues amounting to $445 billion, making up 78% of the total market. Therefore, the rising investment in space programs is a key driver of growth in the space electronics market.
Product innovation is a significant trend in the space electronics market. Leading companies in the space electronics sector are focusing on developing innovative product solutions to enhance their market presence. For example, in July 2022, VPT Inc., a US-based space electronics firm, launched the VSC Series of commercial off-the-shelf (COTS) products designed for new space applications as part of their product line. This series has been recognized for its Total Ionizing Dose (TID) performance, including Low Dose Rate (LDR) and Single Event Effects. It is tailored for smaller satellites operating in low Earth orbits (LEO) and NASA Class D missions, where balancing cost and guaranteed performance is essential. The product features radiation tested to 42 MeV/mg/cm and guaranteed at 30 MeV/mg/cm for Single Event Effects, in addition to being tested to 50 krad (Si). A comprehensive range of input EMI filters is also available to meet MIL-STD-461 or equivalent emission standards.
Key players in the space electronics market are pursuing strategic partnerships to establish innovative product centers. These collaborations enable space electronics companies to pool resources and expertise, enhance research and development capabilities, broaden market reach, and expedite commercialization, ultimately fostering innovation and growth in the space electronics sector. For instance, in October 2022, Michigan State University (MSU), a US-based research institution, formed a partnership with Texas Instruments Incorporated, a US-based semiconductor firm. This collaboration aims to develop robust space electronics capable of withstanding radiation, leveraging MSU’s engineering expertise alongside TI’s semiconductor knowledge to drive innovation and equip workers for the expanding space industry.
Major companies operating in the space electronics market are BAE Systems PLC, Texas Instruments, Inc., Cobham PLC, Honeywell International Inc., STMicroelectronics, Teledyne e2v (UK) Ltd., TT Electronics, Ruag Group, Infineon Technologies, Onsemi, Renesas Electronics Corporation, Analog Devices, Microchip Technology, NXP Semiconductors, Vishay Intertechnology Inc., Silicon Laboratories, L3Harris Technologies, Lockheed Martin, Northrop Grumman, Raytheon Technologies Corporation, Thales Group, Airbus Defence and Space.
Report Scope
This report focuses on space electronics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Markets Covered:
1) by Type: Radiation Hardened; Radiation Tolerant
2) by Component: Microprocessors and Controllers; Sensors; Application Specific Integrated Circuits; Memory Chips; Power Source Cables; Discrete Semiconductors; Other Components
3) by Platform: Satellite; Launch Vehicles; Deep Space Probes
4) by Application: Communication; Earth Observation; Navigation, Global Positioning System (GPS); Technology Development and Education; Other Applications
Subsegments:
1) by Radiation Hardened: Analog Components; Digital Components; Power Management ICs; Mixed-Signal Components
2) by Radiation Tolerant: Microprocessors; FPGAs (Field Programmable Gate Arrays); Memory Devices; Logic Devices
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2025 – 2029 |
| Estimated Market Value (USD) in 2025 | $2.81 Billion |
| Forecasted Market Value (USD) by 2029 | $3.62 Billion |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Space Electronics Market Characteristics
3. Space Electronics Market Trends and Strategies
4. Space Electronics Market – Macro Economic Scenario Including the Impact of Interest Rates, Inflation, Geopolitics, and the Recovery from COVID-19 on the Market
5. Global Space Electronics Growth Analysis and Strategic Analysis Framework
5.1. Global Space Electronics PESTEL Analysis (Political, Social, Technological, Environmental and Legal Factors, Drivers and Restraints)
5.2. Analysis of End Use Industries
5.3. Global Space Electronics Market Growth Rate Analysis
5.4. Global Space Electronics Historic Market Size and Growth, 2019-2024, Value ($ Billion)
5.5. Global Space Electronics Forecast Market Size and Growth, 2024-2029, 2034F, Value ($ Billion)
5.6. Global Space Electronics Total Addressable Market (TAM)
6. Space Electronics Market Segmentation
6.1. Global Space Electronics Market, Segmentation by Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
- Radiation Hardened
- Radiation Tolerant
6.2. Global Space Electronics Market, Segmentation by Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
- Microprocessors and Controllers
- Sensors
- Application Specific Integrated Circuits
- Memory Chips
- Power Source Cables
- Discrete Semiconductors
- Other Components
6.3. Global Space Electronics Market, Segmentation by Platform, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
- Satellite
- Launch Vehicles
- Deep Space Probes
6.4. Global Space Electronics Market, Segmentation by Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
- Communication
- Earth Observation
- Navigation, Global Positioning System (GPS)
- Technology Development and Education
- Other Applications
6.5. Global Space Electronics Market, Sub-Segmentation of Radiation Hardened, by Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
- Analog Components
- Digital Components
- Power Management ICs
- Mixed-Signal Components
6.6. Global Space Electronics Market, Sub-Segmentation of Radiation Tolerant, by Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
- Microprocessors
- FPGAs (Field Programmable Gate Arrays)
- Memory Devices
- Logic Devices
7-29. Country Specific Space Electronics Market Regional and Country Analysis
30. Space Electronics Market Competitive Landscape and Company Profiles
30.1. Space Electronics Market Competitive Landscape
30.2. Space Electronics Market Company Profiles
- BAE Systems
- Texas Instruments
- Cobham
- Honeywell International
- STMicroelectronics
31. Space Electronics Market Other Major and Innovative Companies
- Teledyne e2v (UK) Ltd.
- TT Electronics
- Ruag Group
- Infineon Technologies
- Onsemi
- Renesas Electronics
- Analog Devices
- Microchip Technology
- NXP Semiconductors
- Vishay Intertechnology
- Silicon Laboratories
- L3Harris Technologies
- Lockheed Martin
- Northrop Grumman
- Raytheon Technologies
32. Global Space Electronics Market Competitive Benchmarking and Dashboard
33. Key Mergers and Acquisitions in the Space Electronics Market
34. Recent Developments in the Space Electronics Market
35. Space Electronics Market High Potential Countries, Segments and Strategies
For more information about this report visit https://www.researchandmarkets.com/r/h3stai
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