Satellite COTS Components Market to Reach $4.12 Billion by 2032
The Satellite COTS Components market is forecast to reach $4.12 billion by 2032, according to a new premium report released by BIS Research.
"With small satellite serial production picking up, the demand for subsystems and components is rising as assembly units."
Arunkumar Sampathkumar, Principal Analyst, BIS Research.
The global space economy has been rapidly growing owing to the increasing demand for satellite-based connectivity services across different applications such as communication, navigation, Earth observation, and many others.
With the increasing popularity of small satellites that operate in low Earth orbit (LEO) for three to five years, space vehicles require less degree of validated components and are manufactured with commercial off-the-shelf (COTS) available components.
Among the drivers for the Satellite COTS components market are technological expansion in electronic components and associated devices for IoT-enabled services, and increasing use of commercial-off-the-shelf components.
"With small satellite serial production picking up, the demand for subsystems and components is rising as assembly units. This will result in the enhancement and commoditization of components previously developed for non-space applications, which will subsequently lead to the standardization of the small-satellite manufacturing process where the components and subsystems of those who can promise large volume delivery will start gaining prominence (besides the expectation of those products to deliver space-grade performance)," said Arunkumar Sampathkumar, Principal Analyst, BIS Research.
The market is also expected to face some limitations too due to the evolution of standardized satellites and subsystem platforms.
The top segment players that lead the market include established players of commercial-off-the-shelf components for satellites, constituting 80% of the presence in the market. Other players include start-up entities that account for approximately 20% of the presence in the market.
According to the research, some prominent players in this market are:
Microchip Technology, Inc.
Infineon Technologies
Mercury System, Inc.
Data Device Corporation
Xilinx, Inc.
Curtiss-Wright
Honeywell International
ST Microelectronics
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future.
(Source: BIS Research news release)