Space Sensors and Actuators Global Market Report 2024

The global space sensors and actuators market has grown rapidly in recent years. It will grow from $6.11 billion in 2023 to $7.30 billion in 2024 at a compound annual growth rate (CAGR) of 19.4%. The growth observed during the historical period in the field of space sensors and actuators can be attributed to several factors. These include substantial investments in Research and Development (R&D) initiatives, efforts dedicated to space debris mitigation strategies, the development and utilization of Global Positioning Systems (GPS), advancements in scientific and space research initiatives, applications within military and defense sectors, as well as the utilization of these technologies in remote sensing and Earth observation missions.

The global space sensors and actuators market is expected to see rapid growth in the next few years. It will grow to $14.37 billion in 2028 at a compound annual growth rate (CAGR) of 18.5%. The anticipated growth in the forecast period in the domain of space sensors and actuators is expected to be driven by several key factors. These include the increasing commercialization of space activities, a heightened focus on cost efficiency in space missions, the emergence and utilization of small satellite platforms, the rising demand for precision and reliability in space technologies, and the integration of Artificial Intelligence (AI) and autonomous systems in space missions. Major trends projected for this period encompass the continued miniaturization and adoption of advanced technologies in space sensor and actuator systems, an increase in space exploration missions across various domains, growing demand for remote sensing and Earth observation applications, the integration of Internet of Things (IoT) and connectivity solutions in space technologies, as well as ongoing efforts focused on cost reduction in space missions through innovation and optimization. These trends are expected to significantly shape the landscape of space sensors and actuators in the upcoming forecast period.

The continual increase in satellite launches is a driving force behind the growth of the space sensors and actuators market. The proliferation of satellites in orbit serves diverse functions, including communications, positioning, navigation, timing (PNT), earth imaging, climate and environment monitoring, and scientific research. These satellites heavily rely on sensors and actuators to provide essential feedback on parameters such as velocity and position. As reported by the Union of Concerned Scientists, the total number of active satellites orbiting the Earth reached 6,718 by the end of 2022, reflecting a substantial increase of nearly 2,000 satellites within a single year. Consequently, the escalating number of space launches is poised to significantly drive the demand for space sensors and actuators.

The growth of the space sensors and actuators market in the forecast period is anticipated to be propelled by robust government support. Government investments play a pivotal role in fostering research and development activities, technological advancements, and projects across various industries, particularly aerospace and defense. As an illustrative example, the UK Space Agency (UKSA), in September 2023, announced an additional investment of £65 million ($79.1 million) for innovations aimed at enhancing the U.K.'s leadership in space technologies and applications. This funding initiative provides a platform for the U.K. space sector to pioneer commercial innovations addressing challenges such as leveraging satellite data for climate change mitigation and enhancing the sustainability of in-orbit applications. Consequently, substantial government initiatives are expected to be a key driver for the growth of the space sensors and actuators market in the forecast period.

Technological advancement emerges as a prominent trend in the space sensors and actuators market, with major players focusing on enhancing product technologies for a competitive advantage. Notably, in April 2022, Infineon Technologies LLC, a German-based semiconductor manufacturer, introduced the first radiation-hardened (rad-hard) ferroelectric RAM (F-RAM) with a serial interface. This technology represents a significant leap forward in space sensor technology, offering unparalleled dependability and data retention while consuming less energy compared to non-volatile EEPROM and serial NOR Flash devices traditionally used in space applications. This emphasis on technological innovation underscores the commitment of key industry players to stay at the forefront of the evolving space sensors and actuators market.

Major players in the space sensors and actuators market are actively engaging in strategic partnerships and collaborations as part of their ongoing efforts to maintain and strengthen their positions in the market. Strategic partnerships involve collaborative relationships formed between two or more organizations with the aim of achieving specific business objectives or goals. A noteworthy example is the collaboration between Archer Aviation Inc., a prominent US-based aircraft company, and Honeywell, a diversified US conglomerate, in July 2022. The agreement encompasses the supply of flight control actuation and thermal management technologies. Honeywell's actuation technology plays a crucial role in enabling Archer's 12 tilt 6 configuration, and the thermal management technology contributes to providing a best-in-class in-cabin experience for Archer's passengers. This strategic partnership highlights Archer's sustained momentum as it progresses towards achieving Type Certification of its production aircraft by 2024.

In September 2022, Parker Hannifin Corporation, a leading US-based company specializing in motion and control technologies, made a significant strategic move by acquiring Meggitt PLC for an impressive amount of £6.3 billion (approximately $7.4 billion). This acquisition positions Meggitt to contribute complementary technologies, enhance Parker Aerospace's aftermarket mix with recurring revenue, and seize growth opportunities within the commercial aerospace sector's recovery. The acquisition is expected to align with anticipated trends such as global aircraft fleet renewal, electrification, and low-carbon technologies. Meggitt, a UK-based company, specializes in components and sub-systems for the aerospace, defense, and selected energy markets. This strategic acquisition underscores Parker Hannifin Corporation's commitment to expanding its capabilities and seizing growth opportunities within the evolving landscape of space sensors and actuators.

Major companies operating in the space sensors and actuators market report are TE Connectivity Ltd., Ametek Inc., Analog Devices Inc., Bradford Space Inc., Honeywell International Inc., Innovative Sensor Technology IST AG, Lockheed Martin Corporation, Maxar Technologies Inc., MinebeaMitsumi Inc., Moog Inc., Northrop Grumman Corporation, Renesas Electronics Corporation, Teledyne UK Limited, Texas Instruments Incorporated, Cedrat Technologies SA, InnaLabs Limited, Leonardo DRS Inc., Sierra Nevada Corporation, Rüstungs Unternehmen AG, STMicroelectronics N.V., Raytheon Technologies Corporation, Digi-Key Electronics Pvt. Ltd., Minebea Intec GmbH, Ball Aerospace & Technologies Corp., BAE Systems plc, L3Harris Technologies Inc., Thales Group, Airbus Defence and Space, Safran Electronics & Defense, Sensata Technologies Holding plc, Kistler Holding AG, First Sensor AG, MTS Systems Corporation, Curtiss-Wright Corporation, Parker Hannifin Corporation, Woodward Inc., Eaton Corporation plc, Spanish Society of Engineering and Construction, Space Inventor A/S

North America was the largest region in the space sensors and actuators market share in 2023. The regions covered in the space sensors and actuators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the space sensors and actuators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary products within space sensors and actuators consist of sensors and actuators themselves. Sensors measure diverse parameters during a satellite's flight, serving as key components for data collection and analysis. Actuators, on the other hand, enable adjustments to the satellite's orientation, ensuring optimal positioning and functionality. These sensors and actuators are utilized across a range of platforms, including satellites, capsules or cargo, interplanetary spacecraft and probes, rovers/spacecraft landers, and launch vehicles. They find applications in various systems such as attitude and orbital control systems, command and data handling systems, telemetry, tracking, and command systems, thermal systems, propellant feed systems, rocket motors, surface mobility and navigation systems, berthing and docking systems, robotic arms or manipulator systems, and thrust vector control systems. The end-users of space sensors and actuators encompass commercial entities, government agencies, and defense sectors, all relying on these technologies for space missions and related applications.

This report provides space sensors and actuators market statistics, including space sensors and actuators industry global market size, regional shares, competitors with a space sensors and actuators market share, detailed space sensors and actuators market segments, market trends and opportunities, and any further data you may need to thrive in the space sensors and actuators industry. This space sensors and actuators market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The space sensors and actuators market consists of sales of pressure sensors, attitude measurement sensors, humidity or temperature sensors, image sensors, position and velocity sensors, GPS sensors, vacuum-ultraviolet photodetectors, linear actuators, and rotary actuators. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.