Space-based Smart Sensors and Electronics Market to have significant growth of CAGR 4.85% by 2026
The purpose of the market analysis is to examine the space-based smart sensors and electronics market outlook in terms of factors driving the market, trends, technological developments, and competitive benchmarking, among others.
By: BIS Research
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Therefore, manufacturers are designing components in such a way that electrical components can operate and survive in high-radiation environments. The electronic components used in space are either radiation-hardened or radiation-tolerant, depending upon the mission. In recent years, it has been observed that there have been continuing advancements in semiconductor and electronic component technology, leading to the development of small and light-weight electronic products.
Small satellites use a large part commercial off-the-shelf (COTS) component with up-to-date technologies such as micro electromechanical systems (MEMS), active and passive de-orbit, rapid prototyping, on-orbit servicing, plug-and-play systems, improvement of resolutions, in-orbit autonomy, altitude knowledge and control, and on-board power. With the increasing popularity of small satellites that operate in low Earth orbit (LEO) for three to five years, space-based smart sensors and electronic components require less degree of validated components and are manufactured with COTS. Commercial components can potentially save the costs indulged in the testing and validation process in addition to implementation since real-time operating systems and software tools, which are commercially available, can be employed on them.
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Some of the key players in the global space electronics market include BAE Systems, Cobham PLC, Honeywell International, Texas Instruments Inc., The Boeing Company, Xilinx Inc., Microsemi Corporation, STMicroelectronics N.V, TT Electronics, and Solid State Devices Inc. These companies are aiming for a wide range of product launches and collaborations to expand their operations and increase their market presence globally to generate revenues and attract new customers.