Space Power Electronics Market to exceed USD 913.52M by 2031, Driven by Demand for Space Exploration and Satellite Tech

Space Power Electronics Market Overview:

The Space Power Electronics Market is experiencing phenomenal expansion, propelled by the insatiable need for reliable and efficient power management in the cosmos.

Comprehensive research from SNS Insider indicates the Space Power Electronics Market was valued at USD 278.63 million in 2023. This market is primed for significant growth, projected to reach USD 913.52 million by 2031 with a remarkable CAGR of 16% during the forecast period (2024-2031).

Get a Sample Report of Space Power Electronics Market @ https://www.snsinsider.com/sample-request/1167

Major Key Players Included are:

• Infineon Technologies
• Texas Instrument Incorporated
• STMicroelectronics
• Bonkemi
• Renesas Electronics Corporation & Other Players.

Rising Demand for Robust Power Systems Spurs Market Expansion

The increasing number of satellite launches for communication, navigation, and Earth observation, coupled with ambitious deep-space exploration missions, necessitates sophisticated power electronics. These systems ensure consistent power across spacecraft functions, particularly in harsh space environments characterized by extreme temperatures, radiation, and vibration. Market growth underscores the criticality of advanced power systems for successful and sustainable space endeavors.

Space power electronics confront unique challenges, including launch vibrations, drastic environmental shifts, and the risk of electrostatic discharge. Manufacturers are rising to the challenge, developing radiation-hardened solutions capable of withstanding harsh space conditions while maintaining precision and longevity.  Additionally, integrating multiple functionalities into single chips reduces complexity and further streamlines space-grade power systems.

Check Discount on Space Power Electronics Market @ https://www.snsinsider.com/discount/1167

Segment Analysis

By Device Type: The power IC segment dominated the market in 2023 due to its versatility and space-saving integration of multiple power functions within a single chip, ideal for compact designs.

By Application: Satellites led the market with the highest revenue share in 2023, fueled by the proliferation of satellite-based communication, navigation, and Earth observation systems.

KEY MARKET SEGMENTATION

By Device Type

• Power Discrete
• Power Module
• Power IC

By Application

• Satellite
• Spacecraft & Launch Vehicle
• Rovers
• Space stations

By Platform type

• Power
• Command and data handling
• ADCS
• Propulsion
• TT&C
• Structure
• Thermal System

By Voltage

• Low Voltage
• Medium Voltage
• High Voltage

By Current

• Upto 25A
• 25-50A
• Over 50A

Enquire about the Report @ https://www.snsinsider.com/enquiry/1167

Recent Developments

• March 2022: Cobham Advanced Electronic Solutions(CAES) and Trident Systems Incorporated partner to deliver integrated space, air, sea, and defense mission computing and communications solutions.
• February 2022: Infineon Technologies invested over USD 2.3 billion to bolster its wide bandgap semiconductor manufacturing capabilities (SiC and GaN).
• December 2021: Microchip Technology expanded its Ga N RF power device portfolio for high-performance applications up to 20 GHz.
• November 2021: Texas Instruments Incorporated announced plans for a new 300-millimeter semiconductor wafer fabrication plant, signaling a commitment to expanding production.

Impact of the Russia-Ukraine War

The ongoing Russia-Ukraine war had ripple effects on the Space Power Electronics Market. Supply chain disruptions, particularly of critical materials, might lead to production delays and increased costs. Moreover, the conflict contributes to geopolitical tensions, potentially impacting collaboration on space initiatives, which could influence innovation and technology sharing in power electronics.

The United States led in the North American region in 2023

North America is projected to remain the leading market for space power electronics throughout the forecast period. The US government’s significant investments in advanced space programs and satellite communication infrastructure are key drivers in this region. Additionally, the growing demand for defense and surveillance capabilities further fuels the market. An example of this is Boeing’s O3b mPOWER satellites, which utilize radiation-tolerant DC-DC converter power modules for efficient power conversion.

Key Takeaways for the Space Power Electronics Market Study

• The Space Power Electronics Market offers lucrative growth opportunities driven by a confluence of technological advancements and the proliferation of space-based applications.
• The report highlights the significant growth potential of the Space Power Electronics Market, driven by the increasing demand for advanced technologies in space exploration and satellite communication.
• Technological advancements in wide bandgap semiconductors and miniaturization of power electronics are contributing to market expansion.
• The report analyzes the impact of global challenges like the Russia-Ukraine war and the potential economic slowdown on the market.
• North America is expected to retain its dominant position due to strong government investments and growing demand from the defense sector.

Buy Single User PDF of Space Power Electronics Market Report @ https://www.snsinsider.com/checkout/1167

Table of Contents – Major Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
   • COVID-19 Impact Analysis
   • Impact of Ukraine- Russia war
   • Impact of ongoing Recession
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Space Power Electronics Market, By Device Type
9. Space Power Electronics Market, By Application
10. Space Power Electronics Market, By Platform type
11. Space Power Electronics Market, By Voltage
12. Space Power Electronics Market, By Current
13. Regional Analysis
14. Company Profiles
15. Competitive Landscape
16. Conclusion

About Us:

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company’s aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

Our staff is dedicated to giving our clients reliable information, and with expertise working in the majority of industrial sectors, we’re proud to be recognized as one of the world’s top market research firms. We can quickly design and implement pertinent research programs, including surveys and focus groups, and we have the resources and competence to deal with clients in practically any company sector.

Read Our Other Aerospace & Defense Related Reports