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What Long-Term Growth Rate is Expected for the Space Sensors And Actuators Market Between 2025 and 2034?

In recent times, the market size for space sensors and actuators has been expanding swiftly. The forecast suggests that this market will escalate from $7.16 billion in 2024 to reach $8.54 billion in 2025, marking a Compound Annual Growth Rate (CAGR) of 19.2%. The substantial expansion during the historic period is largely due to factors including investment into research and development activities, measures taken for space debris reduction, advancements in global positioning systems (GPS), initiatives in scientific and space research, applications in the military and defense sector, and developments in remote sensing and earth observation.

In the coming few years, a swift expansion is anticipated in the market size of space sensors and actuators. The market is projected to elevate to $16.46 billion in 2029, with a compound annual growth rate (CAGR) of 17.8%. The emergence of small satellite platforms, commercialization of space activities, emphasis on cost-effectiveness, precision, reliability necessities, and the implementation of AI and autonomous systems in space could drive the growth during the projected period. Major forthcoming trends comprise of miniaturization and advanced technologies, amplified space exploration missions, a rise in demand for remote sensing and earth observation, IoT and connectivity in space, and reduction in the cost of space missions.

What Drivers Are Shaping the Growth of the space sensors and actuators Market?

The space sensors and actuators market is being propelled by the frequent launching of satellites. With time, the volume of satellites dispatched into orbit has significantly grown, spurred by the need to collect relevant information for various uses. These include positioning, timing, navigation, earth imaging, climate and environment surveillance, and academic inquiries. Sensors and actuators are used on these satellites to provide data on speed and location. For example, as stated by the Union of Concerned Scientists, an American nonprofit organization advocating for science, there were 6,718 functioning satellites orbiting Earth as of late 2022. That’s nearly 2,000 more than the previous year. Therefore, the growing occurrence of space missions will stimulate the demand for space sensors and actuators.

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What Are the Key Firms That Are Driving Transformation in the Space Sensors And Actuators Market?

Major companies operating in the space sensors and actuators market are:

• TE Connectivity Ltd._x000D_

• Ametek Inc._x000D_

• Analog Devices Inc._x000D_

• Bradford Space Inc._x000D_

• Honeywell International Inc._x000D_

What Current Trends in the Space Sensors And Actuators Market Should Industry Players Pay Attention To?

Leading corporations in the sensors and actuators market for space are prioritizing technological progress in their products like radiation-toughened memory elements to gain an edge over their competition. A radiation-toughened memory component, designed specifically to resist the deleterious impact of ionizing radiation, is frequently employed in high-radiation, nuclear, and space environments to assure secure data storage and retrieval. For example, in April 2022, Infineon Technologies LLC, a German semiconductor maker, introduced the first-ever ferroelectric RAM (F-RAM) with a serial interface which has been hardened against radiation for deployment in severe conditions. Relative to non-volatile EEPROM (electrically erasable programmable read-only memory) and serial NOR Flash devices meant for space applications, these fresh innovations offer unsurpassed reliability and data preservation while consuming less power.

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What Are the Key Components of the Space Sensors And Actuators Market, and How Do Its Segments Perform?

The space sensors and actuators market covered in this report is segmented –

1) By Product Type: Sensors, Actuators

2) By Platform: Satellites, Capsules Or Cargos, Interplanetary Spacecraft And Probes, Rovers Or Spacecraft Landers, Launch Vehicle

3) By Application: Attitude And Orbital Control System, Command And Data Handling System, Telemetry, Tracking And Command, Thermal System, Propellent Feed System, Rocket Motors, Surface Mobility And Navigation System, Berthing And Docking System, Robotic Arm Or Manipulator System, Thrust Vector Control System, Engine Valve Control System, Solar Array Drive Mechanism, Other Applications

4) By End User: Commercial, Government, Defense

Subsegments:

1) By Sensors: Temperature Sensors, Pressure Sensors, Inertial Sensors (Gyroscopes And Accelerometers), Proximity Sensors, Imaging Sensors (Cameras), Radiation Sensors, Environmental Sensors

2) By Actuators: Electric Actuators, Hydraulic Actuators, Pneumatic Actuators, Smart Actuators, Mechanical Actuators

What Regions Are Driving Expansion in the Space Sensors And Actuators Market?

North America was the largest region in the space sensors and actuators market share in 2024. The regions covered in the space sensors and actuators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Key Parameters Define the Space Sensors And Actuators Market’s Scope?

Space sensors are devices that measure various quantities while the satellite is in flight. These sensors serve as the satellite’s ‘eyes’ and ‘ears. Actuators are used to apply force or torque to the satellite body to bring it into the proper orientation. The space sensors and actuators provide feedback on the velocity and position of satellites, eventually increasing their effectiveness.

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