Spacecraft Avionics Market Witness Huge Growth 2022

The Spacecraft Avionics market is expected to grow from USD 4.34 Billion in 2019 to USD 6.73 Billion by 2027, at a CAGR of 5.8% during the forecast period. The growth of this market is mainly attributed to the ever-increasing demand for advanced spacecraft and aircraft with enhanced capabilities and features.

Spacecraft avionics are referred to as the electronic systems used on spacecraft, which help in performing various tasks such as navigation, communication, guidance & control, and instrumentation & measurement. These systems are designed to function in extreme environmental conditions and provide high reliability & safety.

The increasing demand for small satellite constellations and reusable launch vehicles is one of the major factors driving the growth of the spacecraft avionics market. The development of CubeSats, which are satellites with dimensions of 10 cm x 10 cm x 10 cm, has created opportunities for new players in the small satellite market. The development of miniaturized satellites is one of the key trends being witnessed in the spacecraft avionics market. These satellites weigh less than 100 kg and use commercial off-the-shelf (COTS) components.

The trend of developing reusable launch vehicles is also gaining traction in the space industry. Spacecraft avionics play a vital role in these types of vehicles as they are responsible for critical functions such as navigation, guidance, and control. The successful implementation of reusable launch vehicles would help reduce the cost of launching payloads into space, which would subsequently boost the growth of the spacecraft avionics market.

Key Companies Covered

In this section of the report, the researchers have done a comprehensive analysis of the prominent players operating and the strategies they are focusing on to combat the intense competition. Company profiles and market share analysis of the prominent players are also provided in this section. Additionally, the specialists have done an all-encompassing analysis of each player.

They have also provided reliable revenue, market share and rank data of the companies for the period 2017-2022. With the assistance of this report, key players, stakeholders, and other participants will be able to stay abreast of the recent and upcoming developments in the business, further enabling them to make efficient choices. Mentioned below are the prime players taken into account in this research report:

• Raytheon Technologies Corporation
• Curtiss-Wright Corporation
• Honeywell Internationals
• L3Harris Technologies
• General Electric
• Safran SA
• BAE Systems
• Meggitt PLC
• Astronautics Corporation of America
• Garmin Limited
• MOOG INC.
• CMC Electronics
• Chelton
• uAvionix Corporation
• Northrop Grumman
• Universal Avionics
• Avidyne Corporation
• Aspen Avionics
• Dynon Avionics
• MGL Avionics

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Product Type Insights

Global markets are presented by Spacecraft Avionics type, along with growth forecasts through 2028. Estimates on revenue are based on the price in the supply chain at which the Spacecraft Avionics are procured by the companies.

This report has studied every segment and provided the market size using historical data. They have also talked about the growth opportunities that the segment may pose in the future. This study bestows revenue data by type, and during the historical period (2017-2022) and forecast period (2023-2028).

Spacecraft Avionics segment by Type

• Flight Control System
• Flight Management System
• Health Monitoring System
• Others

Application Insights

This report has provided the market size (revenue data) by application, during the historical period (2017-2022) and forecast period (2023-2028).

This report also outlines the market trends of each segment and consumer behaviors impacting the Spacecraft Avionics market and what implications these may have on the industry’s future. This report can help to understand the relevant market and consumer trends that are driving the Spacecraft Avionics market.

Spacecraft Avionics Segment by Application

• Commercial Aviation
• Military Aviation
• General Aviation

Regional Outlook

This section of the report provides key insights regarding various regions and the key players operating in each region. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of the particular region/country. The readers will also get their hands on the revenue data of each region and country for the period 2017-2028.

The market has been segmented into various major geographies, including North America, Europe, Asia-Pacific, South America, Middle East & Africa. Detailed analysis of major countries such as the USA, Germany, the U.K., Italy, France, China, Japan, South Korea, Southeast Asia, and India will be covered within the regional segment. For market estimates, data are going to be provided for 2021 because of the base year, with estimates for 2022 and forecast revenue for 2028.

North America

• United States
• Canada

Europe

• Germany
• France
• UK
• Italy
• Russia
• Nordic Countries
• Rest of Europe

Asia-Pacific

• China
• Japan
• South Korea

Southeast Asia

• India
• Australia
• Rest of Asia

Latin America

• Mexico
• Brazil
• Rest of Latin America

Middle East & Africa

• Turkey
• Saudi Arabia
• UAE
• Rest of MEA

Spacecraft Avionics Market Dynamics

• Spacecraft avionics systems are constantly evolving to keep up with the latest advances in technology. The market for spacecraft avionics is therefore dynamic, with new products and services being introduced all the time.
• The most significant recent development in spacecraft avionics has been the introduction of electric propulsion systems. These systems offer several advantages over traditional chemical propulsion systems, including higher efficiency and lower emissions. Electric propulsion is therefore becoming increasingly popular for both new spacecraft and retrofits of existing spacecraft.
• Another area of recent innovation in spacecraft avionics has been communications systems. In particular, there has been a move towards using optical rather than radiofrequency communications, which offer higher bandwidth and greater security.
• Finally, there has been an increasing focus on energy management in spacecraft avionics. This is driven by the need to reduce fuel consumption and increase operational efficiency. Newer avionics systems are therefore designed to optimize power usage and enable more efficient operations.

Spacecraft Avionics Market Drivers

• The spacecraft avionics market is driven by the increasing demand for the miniaturization of satellites and launch vehicles. The trend of miniaturization has led to the development of smaller, lighter, and more efficient avionics components. In addition, the need for advanced communications and navigation capabilities has spurred the growth of the spacecraft avionics market.
• The increasing demand for satellite-based services, such as remote sensing, communication, and navigation, is also driving the growth of the spacecraft avionics market. The advancement of technology has led to the development of new applications for satellites, such as Earth observation, climate monitoring, and disaster management. This has created a need for more sophisticated avionics systems that can support these new applications.

Spacecraft Avionics Market Restraints

• Several restraints are currently limiting the growth of the spacecraft avionics market. One such restraint is the high cost of these systems. Spacecraft avionics can cost tens of millions of dollars, making them prohibitively expensive for many organizations. Additionally, the complexity of these systems can make them difficult to design and build. This can lead to delays and cost overruns during development, which further drives up the price of these systems.
• Another restraint on the spacecraft avionics market is the limited number of launch vehicles that are capable of carrying these systems. Currently, only a handful of rockets are powerful enough to lift spacecraft avionics into orbit. This limits the potential customer base for these products and makes it difficult for new entrants to gain a foothold in the market.
• Finally, regulatory uncertainties pose a significant challenge for the spacecraft avionics market. The rules governing spaceflight are constantly evolving, and it can be difficult for companies to keep up with the latest regulations. This can create risks for companies developing new products, as they may not be able to comply with all applicable regulations. This uncertainty can also make it difficult for insurers to provide coverage for these products, which drives up costs and limits availability.

COVID-19 and Russia-Ukraine War Influence Analysis

The readers in the section will understand how the Spacecraft Avionics market scenario changed across the globe during the pandemic, post-pandemic and Russia-Ukraine War. The study is done keeping in view the changes in aspects such as demand, consumption, transportation, consumer behavior, supply chain management. The industry experts have also highlighted the key factors that will help create opportunities for players and stabilize the overall industry in the years to come.

Reasons to Buy This Report

1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Spacecraft Avionics market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
2. This report will help stakeholders to understand the global industry status and trends of Spacecraft Avionics and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.
4. This report stays updated with novel technology integration, features, and the latest developments in the market
5. This report helps stakeholders to understand the COVID-19 and Russia-Ukraine War Influence on the Spacecraft Avionics industry.
6. This report helps stakeholders to gain insights into which regions to target globally
7. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Spacecraft Avionics.
8. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.

Table of Content

1 Report Overview

2 Global Growth Trends

3 Competition Landscape by Key Players

4 Spacecraft Avionics Breakdown Data by Type

5 Spacecraft Avionics Breakdown Data by Application

6 North America

7 Europe

8 Asia-Pacific

9 Latin America

10 Middle East & Africa

11 Key Players Profiles

12 Analyst’s Viewpoints/Conclusions

13 Appendix

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