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Space Sensors and Actuators Market Trends

Report ID: GMI12201
Published Date: Nov 2024
Report Format: PDF

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Space Sensors and Actuators Market Trends

The global demand for satellite services, including communications, Earth observation, and navigation, has grown significantly. This trend, which is agitated by the need for better connectivity and environmental monitoring, has led to more satellite launches, especially with new constellations like Starlink and OneWeb. As a result, there's an increased need for advanced sensors and actuators, which are crucial for satellite operation and mission success. Companies developing compact, efficient, and high-performance components are well-positioned to benefit as satellite manufacturers aim to optimize their systems.

Authors: Suraj Gujar, Partha Paul

Frequently Asked Questions (FAQ) :

The market size of space sensors and actuators reached USD 3 billion in 2024 and is set to grow at a 14.2% CAGR from 2025 to 2034, driven by technological advancements in sensor and actuator design.

The commercial segment dominated the global market with a revenue of USD 2.4 billion in 2024, led by increased investments in satellites and private space companies.

North America dominated the market in 2024 with a 43.4% share, propelled by government initiatives, technological advancements, and a robust commercial sector.

The key players in the industry include Airbus, Ametek, Arquimea, Cedrat Technologies, Comat, CubeSpace Satellite Systems, Ensign-Bickford Aerospace & Defense, Honeywell, Maxar Technologies, MinebeaMitsumi, Moog, PHI Drive, Raytheon Technologies, Space-Lock, and TE Connectivity.