
Space Power Electronics Market was valued at USD 297.4 million in 2023 and is projected to be worth USD 1.2 billion by the end of 2032, according to recent report by Global Market Insights Inc.
The global space power electronics market will grow at a 17% CAGR from 2024 to 2032, spurred by advancements in electronics technology coupled with the growing deployment of satellites. As satellite applications for communication, navigation, and earth observation continue to rise, the demand for efficient, lightweight, and durable power solutions grows significantly. Technological innovations in power electronics enhance their ability to withstand harsh space conditions while optimizing energy efficiency. This evolution in technology, along with the increasing number of satellite launches, is fueling market growth and meeting the evolving needs of the space sector.
The space power electronics industry is fragmented based on platform type, current, voltage, device type, application, and region.
The space power electronics market from power discrete segment garnered a 40% share in 2023 due to its critical role in managing high-power and high-voltage requirements for space applications. Power discrete components, such as diodes, transistors, and thyristors, are essential for ensuring the reliable performance of satellite systems, spacecraft, and other space missions. These devices provide efficient power conversion, regulation, and distribution in challenging space environments. Their robust design and high efficiency make them ideal for handling the demanding electrical loads in space systems, driving their dominance in the market.
The high voltage segment will achieve 19% CAGR through 2032, owing to its essential role in powering critical space systems and equipment. High voltage components play a vital role in ensuring efficient power distribution for satellites, spacecraft, and various space-based platforms. These systems often require robust voltage handling capabilities to operate high-power propulsion, communication, and energy storage systems. The increasing deployment of large-scale satellite constellations and deep-space exploration missions further drive the demand for high voltage solutions, ensuring reliable performance in challenging space environments.
North America space power electronics market captured 34% share in 2023, driven by significant investments in space exploration and satellite development. The presence of major space agencies like NASA, along with private space companies such as SpaceX and Blue Origin, fosters innovation in power electronics technologies. Additionally, the region’s strong defense sector further supports advancements in space-based applications. The increasing number of satellite launches and deep-space missions positions North America as a key contributor to the space power electronics industry.
Major players operating in the space power electronics industry are Infineon Technologies AG, Texas Instruments Incorporated, STMicroelectronics N.V., Onsemi, Renesas Electronics Corporation, BAE Systems plc, Analog Devices, Inc.
Source –https://www.gminsights.com/industry-analysis/space-power-electronics-market