Global Space Semiconductor Market Size To Worth USD 3.3 Billion By 2033 | CAGR of 2.41%

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The Space Semiconductor Market Size was valued at USD 2.6 Billion in 2023 and the Worldwide Space Semiconductor Market Size is expected to reach USD 3.3 Billion by 2033, according to a research report published by Spherical Insights & Consulting. Companies covered: Teledyne Technologies Incorporated, Infineon Technologies AG, Texas Instruments Incorporated, Microchip Technology Inc., Cobham Advanced Electronic Solutions Inc., STMicroelectronics International N.V., Solid State Devices Inc., Honeywell International Inc., Xilinx Inc., BAE System Plc, and TE Connectivity and Others

New York, United States , April 05, 2024 (GLOBE NEWSWIRE) — The Global Space Semiconductor Market Size to Grow from USD 2.6 Billion in 2023 to USD 3.3 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 2.41% during the forecast period.

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 There is a growing need for semiconductor components that are smaller, lighter, and more power-efficient as the goal of reducing the size and weight of satellites and space exploration equipment increases. Space habitats present unique challenges due to factors such as extreme temperatures, radiation, and vacuum. For semiconductors used in space applications to withstand these harsh conditions, ruggedization is required. Small satellites are being used more often for a range of applications, including science, communication, and Earth observation. This development is driving the need for semiconductor parts suitable for small satellite platforms. Both the space government and private sector are conducting ambitious space exploration missions. These missions include crewed journeys to Mars, the Moon, and other planets. These missions’ scientific instruments, communication, navigation, and onboard systems all require advanced semiconductor technology.

Browse key industry insights spread across 200 pages with 115 Market data tables and figures & charts from the report on the “Global Space Semiconductor Market Size By Application (Satellite, Launch Vehicles, Deep Space Probe, Rovers and Landers, and Others), By Type (Radiation Hardened Grade, Radiation Tolerant Grade, and Others), By Component (Integrated Circuits, Discrete Semiconductors Devices, Optical Devices, Microprocessor, Memory, Sensors, and Others), By Region, And Segment Forecasts, By Geographic Scope And Forecast to 2033.” 

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Insights by Application
The satellite segment accounted for the largest market share over the forecast period 2023 to 2033. There has been a noticeable increase in the use of satellites for a variety of applications, including communication, navigation, Earth observation, science, and national security. The surge in satellite launches from both commercial and government space agencies has increased demand for semiconductor parts used in satellite systems. The trend towards satellite miniaturisation, partly driven by the popularity of CubeSats and small satellites, is demanding ever-smaller, lighter, and more power-efficient semiconductor components. These tiny spacecraft often use commercial off-the-shelf (COTS) semiconductor technology that has been adapted for use in orbit.

Insights by Type Size
The radiation hardened segment accounted for the largest market share over the forecast period 2023 to 2033. As space missions get more complex and explore harsher conditions, there is an increasing need for radiation-resistant semiconductor components. These components are essential to many critical systems, such as navigational systems, onboard computers, communication systems, and scientific instruments. Since more satellites are being used for both commercial and military purposes, there is a greater demand for radiation-hardened semiconductor components. These components are essential to the dependability and endurance of satellite systems operating in the radiation-rich space environment. The commercialization of space operations has increased the need for radiation-hardened semiconductor components from commercial satellite operators, space tourism companies, and other private organisations involved in space exploration and satellite deployment.

Insights by Component
The integrated circuits segment accounted for the largest market share over the forecast period 2023 to 2033. The growing need for satellites for communication, Earth observation, navigation, scientific research, and national security has resulted in a wide range of integrated circuits (ICs) intended for space applications. These ICs include memory chips, digital signal processors (DSPs), microprocessors, and specialised interface and control circuits. Advanced communication systems for satellite payloads and ground stations require high-performance integrated circuits (ICs) capable of handling complex modulation schemes, error correcting coding, and signal processing algorithms. These ICs provide dependable and efficient communication links between satellites and terrestrial networks. Radiation-hardened integrated circuits (ICs) are necessary for space applications to protect them from the effects of ionising radiation.

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Insights by Region
North America is anticipated to dominate the Space Semiconductor Market from 2023 to 2033. Based in North America, NASA (National Aeronautics and Space Administration) is in charge of several space exploration missions, satellite launches, and scientific research initiatives. NASA’s collaborations with foreign partners and commercial space companies increase the demand for cutting edge semiconductor technology for space missions. The aerospace and defence sectors in North America, particularly in the US, bear the lion’s share of the cost of space-related initiatives. The investments made by defence contractors and agencies in satellite technology, missile defence, and reconnaissance systems are driving the demand for space-grade semiconductor components. North America is a big market for satellite communications services like television broadcasting, broadband internet, and military communications.

Asia Pacific is witnessing the fastest market growth between 2023 to 2033. A number of countries in the Asia-Pacific region, including China, India, Japan, and South Korea, are rapidly expanding their satellite fleets for use in Earth observation, communication, scientific research, and navigation. The need for semiconductors suitable for space travel is rising due to the growing usage of satellites. Asia-Pacific countries, particularly Taiwan, China, and South Korea, are significant hubs for the production of semiconductor components. Semiconductor firms in the area provide integrated circuits (ICs), microprocessors, memory chips, sensors, and other space-grade components. Precision agriculture, satellite-based remote sensing, and disaster management are some of the emerging applications driving the need for space semiconductor components in the Asia-Pacific area. Governments and businesses are investing in satellite-based solutions to address various environmental and socioeconomic issues.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global medical batteries market include Teledyne Technologies Incorporated, Infineon Technologies AG, Texas Instruments Incorporated, Microchip Technology Inc., Cobham Advanced Electronic Solutions Inc., STMicroelectronics International N.V., Solid State Devices Inc., Honeywell International Inc., Xilinx Inc., BAE System Plc, and TE Connectivity

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Recent Market Developments

  • In Sepember 2023, Northrop Grumman and UK company Space Forge signed a strategic agreement. The company’s plan to use compound semiconductor substrates in low-Earth orbit is supported by the agreement. 

Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.

Space Semiconductor Market, Application Analysis

  • Satellite
  • Launch Vehicles
  • Deep Space Probe
  • Rovers and Landers
  • Others

Space Semiconductor Market, Type Analysis

  • Radiation Hardened Grade
  • Radiation Tolerant Grade
  • Others

Space Semiconductor Market, Component Analysis

  • Integrated Circuits
  • Discrete Semiconductors Devices
  • Optical Devices
  • Microprocessor
  • Memory, Sensors
  • Others

Space Semiconductor Market, Regional Analysis

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • Uk
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • Rest of Middle East & Africa

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About the Spherical Insights & Consulting

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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company’s mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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