Space semiconductor market is anticipated to grow at a CAGR of 5.6% during the forecast period (2024-2031). The market growth is driven by the increasing investment in space semiconductor development, the growing commercial satellite market, advancement in semiconductor technology, and expansion of space exploration activities.
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The increasing investment and deployment of commercial satellites for navigation, communication & earth orbital services by public and private entities to strengthen domestic connectivity is the commercial satellite industry. The growing commercial industry is anticipated to drive the demand for the space semiconductor market. Further, the demand is also contributed by the commercial satellite export industry, which has also grown exponentially in recent years. According to the Space Foundation’s 2023 Q4 report, global launch activity hit record highs for the third year in a row, with 223 launch attempts and 212 successful launches. Commercial launch activity rose by 50.0% in 2022. The US witnessed a 33.0% rise in launch attempts, while China, India, and Japan also saw increased activity, with more than 2,800 satellites sent into orbit, 23.0% more than in 2022.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Space Semiconductor Market Report Segment
By Type
- Radiation Hardened Grade
- Radiation Tolerant Grade
By Component
- Microprocessor
- Integrated Circuits
- Discrete Semiconductors Devices
- Optical Devices
- Others (Memory, Sensors)
By Application
- Launch Vehicle
- Deep Space Probe
- Rover and Lander
Global Space Semiconductor Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- The Middle East and Africa
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global space semiconductor market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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