The space sensors market growth was USD 1.40 billion in 2020. The market is projected to grow from USD 1.91 billion in 2021 to USD 6.16 billion in 2028 at a CAGR of 18.21% during the 2021-2028 period. This vital information is presented by Fortune Business Insights™, in its report titled, “Space Sensors Market, 2021-2028.” Factors, such as the ability to collect data and monitor conditions on the ground and increasing advancements in sensing technology, will increase the footprint of the market during the forecast period. Additionally, rising development toward hardened electro-optical space sensors will boost the market growth.
Drivers & Restraints
Increasing Usage of Image Sensors to Bolster Market
Factors, such as increased usage of image sensors toward earth observation, solar system exploration, and universe observation missions, will boost the space sensors market growth during the forecast period. Additionally, rising applications among high-resolution imaging, space telescopes, atmosphere spectroscopy, and others will increase the footprint of the market. Rising research & development funding from various space agencies on a global scale will fuel the market growth.
However, strict government regulations regarding spaceships will limit the market growth during the forecast period.
List of Key Players Present in the Market
- Texas Instruments Incorporated (U.S.)
- Honeywell International Inc. (U.S.)
- Moog Inc. (U.S.)
- Ametek Inc. (U.S.)
Browse Summary
https://www.fortunebusinessinsights.com/space-sensors-market-105871
