The space sensors market demand 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.
Segments
Product Type, Platform, End Use, and Region are Studied
Based on product type, the market is broken down into pressure sensors, temperature sensors, proximity sensors, position sensors, vibration sensors, and others.
By platform, the market is divided into satellite, rovers, launch vehicle, and probes.
With respect to end use, the market is segmented into commercial and government & defense.
In terms of geography, the market can be categorized into North America, Europe, Asia Pacific, and the Rest of the World.
Report Coverage
The report contains a comprehensive analysis of the market by encompassing critical aspects such as key players, product types, platforms, and end-uses. Additionally, the report also offers the ongoing industry developments and future market trends to provide our readers with an analytical read. Also, the report presents a detailed forecast during the intended duration and lists factors that are expected to impact the market in a negative/positive manner.
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.
Browse Summary
https://www.fortunebusinessinsights.com/space-sensors-market-105871
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.)
