COTS Components for Satellites Market Report Released
The global satellite COTS components market is estimated to reach $4.12 billion in 2032 from $1.93 billion in 2021, at a growth rate of 1.21% during the forecast period 2022-2032, according to a new report from ResearchandMarkets.
The global satellite commercial-off-the-shelf (COTS) components market is expected to be driven due to technological expansion in electronic components and associated devices for the Internet of Things (IoT) enabling services.
There has been a constant shift in the satellite's electronic technologies due to the increased demand for small satellites. Extensive research has been conducted on new global information networks and electronic information management systems to improve the satellite's efficiency and cost and size reduction. The space industry has embraced COTS components, which provide efficient radiation shielding without compromising the quality. COTS components are used to reduce costs and the development time of space electronics.
Several projects are currently in progress to produce advanced commercial-off-the-shelf components with enhanced capability to shield space perturbations at low cost, which are expected to increase with the launch of upcoming mega-constellations as well as with the rising COTS demand is ubiquitously profitable for the component developing companies, since the demand for customization in the COTS components is least for such mission profiles, and "as it is" components are more preferred.
The satellite operators are trying to deploy components of lower screening levels more quickly and cheaply than the conventional qualified manufacturing list (QML). This involves anything from pure plastic-packaged COTS parts all the way to screening just below QML or sub-QML levels. As a result, the market for satellite commercial-off-the-shelf components is well-established.
The increasing number of satellites in low Earth orbit (LEO) with the upcoming mega-constellation has placed a high demand for the production of satellite commercial-off-the-shelf components during the forecast period.
Furthermore, rising demand for reconfigurable satellite payloads has resulted in the need for miniaturized satellite commercial-off-the-shelf components to support complex missions for significantly longer periods.
Based on mass class, the global satellite COTS components market is expected to be dominated by the 0-500kg mass class segment during the forecast period. This is due to increased demand for satellites to serve various applications such as Earth observation and monitoring, weather forecast, navigation, and communication. Additionally, the small satellite manufacturers are gaining huge traction in the space market, so the demand for reconfigurable and commercial off-the-shelf electronic components is expected to rise significantly during the forecast period.
The global satellite COTS components market (by subsystem) includes attitude determination and control subsystem, which is expected to dominate the market with a share of 35.21% in 2032. North America accounted for the highest share of 70.63% in the global satellite commercial-off-the-shelf components market in 2021, owing to a significant number of companies based in the region.
(Source: ResearchandMarkets news release. Infographic Provided)