Space Sensors and Actuators Market worth $4.9 Billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Dec. 20, 2022 /PRNewswire/ -- 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% during the forecast period according to a new report by MarketsandMarkets™. With different nations concentrating on the research, production, and launch of these satellites, the miniaturization of space sensors and actuators in recent years has increased the capabilities of satellites, making them emerge as a significant instrument in the revived global space race. These developments also make it possible for the space sensors and actuators in satellites to fly in constellations or swarms and be employed more and more for Earth observation tasks, leading to an increase in demand from different organizations and nations.

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The space sensors and actuators market report include their usage in satellites, capsules/cargos, interplanetary spacecraft & probes, rovers/spacecraft landers, launch vehicles, and space stations. These space sensors and actuators are used for several applications, including attitude & orbital control system, command & data handling system, telemetry, tracking, and command thermal system, thrusters, propellant feed systems, rocket motors, surface mobility and navigation systems, gripping & docking systems, robotic arms/manipulator systems, and various other applications by national space agencies such as NASA, ISRO and ESA, among others, and commercial and government end users.

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"Based on application, the command and data handling system (C&DH) segment of application is expected to lead the space sensors and actuators market from 2022 to 2027."

, . Space sensors and actuators platforms are getting a push from government authorities worldwide due to their operational needs as well as budget pressures faced by them. The command and data handling system (C&DH) segment is expected to lead the space sensors and actuators market in 2022.The spacecraft, launch vehicle, and rovers consist of multiple systems that work together to achieve mission goals. One of the most important systems is called the "brain" of the spacecraft, and the more formal name is the command and data management system. It processes all data sent and received by the spacecraft, launch vehicle, and rover, including scientific data and the operation of the spacecraft or payload. The system is connected to a radio transmitter, and the receiving device provides a communication channel between the spacecraft and ground operators

"Based on End User, the commercial segment is estimated to lead the space sensors and actuators market from 2022 to 2027."

The space sensors and actuators market is segmented by end user into commercial and government and defense. The demand for space sensors and actuators is gaining traction across all end user sectors of the space industry. Since advanced sensors and actuators technologies such as artificial muscle actuators or shape memory alloy actuators, piezoelectric actuators, and quantum-based sensors are becoming key elements of modern spacecraft, launch vehicles, and rovers, the demand for providing these sensors and actuators is increasing rapidly. The commercial segment is expected to exhibit high demand for space sensors and actuators because of the growing application areas such as communication, surveillance, attitude and orbital control, command and data handling, interspace exploration using rovers, and Earth observation.

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"The North America region is estimated to account for the largest share of Space sensors and actuators  market in 2022."

Based on region, In 2022, North America is anticipated to lead the market for space sensors and actuators. The US is North America's biggest market for space sensors and actuators. Key elements that are anticipated to propel the space sensors and actuators market in North America include the rising demand for commercial lunar moon and mars missions, the expansion of orbiter satellites and CubeSat deployment in moon exploration, and the planned commercial crewed/manned planetary exploration missions. The rapid adoption of orbiter satellites and developments in space systems from NASA and other private players, such SpaceX, Blue Origin, and Maxar Technologies, among others, can also be credited with the market expansion in this area. The number of outer planetary exploration missions has increased due to the effective employment of high-tech space sensors and actuators utilised to transport payloads into outer planet mobility. New firms have been motivated to make investments in this specialised industry by technological advancements and inventive insights gained from earlier space missions.

The space sensors and actuators market is dominated by a few globally established players such as Honeywell International Inc. (US), Teledyne Technologies Limited (UK), Ametek, Inc. (US), TE Connectivity (Switzerland),  Moog Inc. (US), Texas Instruments Incorporated (US), RUAG Group (Switzerland), among others.

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