Introduction:
The Space Power Electronics Market is witnessing robust growth, with projections indicating a surge from USD 205 million in 2021 to USD 435 million by 2026, at a CAGR of 16.2%. Space power electronics play a critical role in controlling and converting electric power for various space applications, including satellites, spacecraft, launch vehicles, and space stations. Semiconductor devices like MOSFETs, IGBTs, MCTs, and GTOs are pivotal components in modern power electronic converters, facilitating the efficient processing of high voltages and currents.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=240716493
COVID-19 Impact:
The COVID-19 pandemic has disrupted economic activities globally, impacting the manufacturing of space power electronics. Supply chain disruptions and fluctuations in manufacturing operations have led to delays in satellite system production. While companies continue to receive orders, uncertainties remain regarding delivery schedules, contingent upon factors like COVID-19 exposure levels and import-export regulations.
Market Dynamics:
The market is driven by the escalating demand for wide bandgap materials such as silicon carbide (SiC) and gallium nitride (GaN). These materials offer superior performance compared to silicon, with higher operating temperatures and voltage-handling capacities. GaN and SiC power semiconductors are expected to witness significant growth within the power semiconductor market by 2024.
Complex design and integration processes pose challenges for space power electronics manufacturers. Innovations in radiation-hardened power electronics aim to enhance reliability and reduce costs but require specialized skill sets and tools, driving up overall device costs and complicating integration processes.
Miniaturization of space DC-DC converters presents lucrative opportunities for market players. Compact-sized converters offer benefits like reduced output noise, extended operating temperatures, and high efficiency, catering to the demand for smaller, more effective devices.
Space power electronics face hazards from harsh space conditions, including vibrations during launch, temperature and pressure variations, electrostatic discharge, and satellite charging and discharging. These challenges necessitate robust design and engineering to ensure reliability in space environments.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=240716493
Market Segmentation:
- Device Type: The power IC segment is expected to lead the market, driven by the integration of multiple power management functions within a single chip, catering to small, battery-operated devices.
- Application: The satellite segment is poised for growth, fueled by increasing adoption in communication technologies, developments in small satellite technology, and the proliferation of space exploration activities.
- Region: North America is anticipated to lead the market, with the US government investing in advanced space power electronics technologies to enhance satellite communication, deep space exploration, defense, and surveillance capabilities.
Key Players:
Globally established players like Infineon Technologies, Texas Instrument Incorporated, STMicroelectronics, Onsemi, and Renesas Electronics Corporation dominate the Space Power Electronics Market. Leading strategies include contract acquisitions, new product developments, and collaborative research & development initiatives to drive innovation and sustain market leadership.
As the demand for space power electronics continues to surge, market players are poised to capitalize on emerging opportunities while addressing challenges to meet the evolving needs of space exploration and communication.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=240716493
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com