Global Space Power Electronics Market expected to grow to $1242.41 million by 2033

From GlobeNewswire: 2024-08-09 08:00:00

The Global Space Power Electronics Market is projected to grow from $279.48 million in 2023 to $1242.41 million by 2033, at a CAGR of 16.09%. Power electronics in space technology plays a vital role in handling high voltages and currents for various applications, including satellites, spacecraft, and rovers. The market is being driven by the need for energy efficiency in space exploration and consumer electronics.

Power ICs, among power discrete, power module, and power IC segments, are expected to hold a significant share of the space power electronics market. The satellites segment is projected to dominate the market, followed by spacecraft & launch vehicles, space stations, and rovers. Command and data handling are key components in the space power electronics sector for missions and systems like NASA’s orbiters and landers.

North America is expected to lead the space power electronics market due to investments in modern space electronics by the US government. The region benefits from advancements in military communication systems and satellite technologies. Asia Pacific is forecasted to show rapid growth, driven by technological advancements, increased production of space electronics components, and government initiatives to boost aerospace and defense industries.

Major players in the space power electronics market include Renesas Electronics, Texas Instrument, BAE Systems, Cobham Limited, and Microchip Technology. Recent developments include Maxim Integrated Products unveiling a new space-qualified analog-to-digital converter for satellite communications and deep space research. The market is segmented by device type, application, platform type, voltage, and region, allowing for a comprehensive analysis and forecast from 2020 to 2033.



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