The Space Sensors and Actuators Market is projected to grow from USD 2.7 Billion in 2022 to USD 4.9 Billion by 2027, at a CAGR of 12.7% from 2022 to 2027. The global market for space sensors and actuators is expanding significantly, and a similar trend is anticipated to be seen during the projected period. The market for space sensors and actuators is expanding as a result of ongoing developments in space sensor technology and actuators, an increase in the frequency of small satellite launches by SpaceX (US) and OneWeb (UK), and rising funding for missions to the Moon and Mars.
North America and Europe are home to the majority of the market's manufacturers. Leading players used contracts as their primary tactic to expand their market share in sensors and actuators. TE Connectivity (Switzerland), Honeywell International Inc. (US), Teledyne (US), Moog Inc. (US), and AMETEK Inc. (US) are a few of the major companies who have embraced this tactic to strengthen their market presence.Due to the shifting needs of customers for sensors and actuators all around the world, new product development received a lot of attention. To improve their position in the industry, these businesses have implemented a variety of growth tactics. These include new product development initiatives, contracts, collaborations, mergers and acquisitions, and product launches to increase their market presence in the space sensors and actuators market.
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Honeywell International Inc. is an American publicly traded, multinational conglomerate headquartered in Charlotte, North Carolina (US). It primarily operates in four areas of business: aerospace, building technologies, performance materials and technologies (PMT), and safety and productivity solutions (SPS). Honeywell is a Fortune 100 company, ranked 94th in 2021. The company has a global workforce of approximately 99,000 workers, with approximately 34,000 employed in the US. The company's Aerospace segment supplies products, software, and services for aircraft and vehicles that it sells to OEMs and other customers. The Home and Building Technologies segment provides products, software, solutions, and technologies that help owners of homes stay connected and in control of their comfort, security, and energy use. The Performance Materials and Technologies segment is engaged in developing and manufacturing materials, process technologies, and automation solutions. The Safety and Productivity Solutions segment is engaged in providing products, software, and connected solutions to customers that manage space infrastructure.
Teledyne Technologies Incorporated is an American industrial conglomerate. It was founded in 1960 as Teledyne, Inc. From August 1996 to November 1999, Teledyne existed as part of the conglomerate Allegheny Teledyne Incorporated – a combination of the former Teledyne, Inc. and the former Allegheny Ludlum Corporation. On November 29, 1999, three separate entities, Teledyne Technologies, Allegheny Technologies, and Water Pik Technologies, were spun off as free-standing public companies. Teledyne Technologies operates through four business divisions: instrumentation, digital imaging, aerospace and defense, and engineered systems. Its aerospace and defense segment provides complex electronic components and subsystems for communication products, including defense electronics, data acquisition, and communications equipment for air transport and business aircraft, and components and subsystems for wireless and satellite communications, as well as general aviation batteries. Teledyne UK limited part of Teledyne Technologies Incorporated has designed and delivered CCD and CMOS imaging sensors and subsystems for over 150 space missions by the largest space agencies, including NASA, ESA, JAXA, CNSA, and most recently for the Russian-led World Space Observatory.
AMETEK, Inc. is an American global manufacturer of electronic instruments and electromechanical devices with over 220 manufacturing sites worldwide. The company's headquarters are in Pennsylvania, US. AMETEK operates two business segments: Electronic Instruments (EIG) and Electromechanical (EMG). Electronic Instruments segment designs and manufactures advanced instruments for the process, power and industrial, and aerospace markets. The electromechanical segment offers precision motion control solutions, thermal management systems, specialty metals, and electrical interconnects. AMETEK offers sensors and fluid management systems (SFMS) and rugged and reliable sensors for harsh environmental requirements of space programs. The company’s sensors for space applications undergo rigorous testing and certification to meet the demands of space travel.
TE Connectivity is an American Swiss-domiciled technology company that designs and manufactures connectivity and sensor products for harsh environments in a variety of industries such as automotive, industrial equipment, data communication systems, aerospace, defense, medical, oil and gas, consumer electronics, and energy. TE Connectivity operates through three business divisions: transportation, communication, and industrial solutions. The transportation solutions segment includes terminals and connector systems and components, sensors, relays, antennas, application tooling, and wire and heat shrink tubing. The industrial solutions segment includes terminals and connector systems and components, heat shrink tubing, interventional medical components, relays, and wire and cable. It provides different types of sensors such as torque sensors, humidity sensors, and others that are used in spacecraft. TE has been supplying thermistors for space applications for over 40 years to NASA and many other aerospace companies since the mid-1970s. In the early 1970s, NASA approached one of TE’s legacy sensor companies to discuss the feasibility of qualifying its commercial 4400 series thermistors for extended space flight applications. TE Connectivity has a good brand image and has been operating from a very long time, which gives the company a clear edge over new players. For example, TE has been supplying thermistors for space related applications to NASA and many other aerospace companies since the mid-1970s. In the early 1970s, NASA approached one of TE’s legacy sensor companies to discuss the feasibility of qualifying its commercial 4400 series thermistors for extended space flight applications.
Moog Inc. (Moog) is an American-based designer and manufacturer of motion and fluid controls and control systems for applications in aerospace, defense, industrial, and medical devices. The company operates under four segments: aircraft controls, space and defense controls, industrial controls, and components. Moog is headquartered in Elma, New York, and has sales, engineering, and manufacturing facilities in 26 countries. Moog has technologies for satellites and space vehicles in addition to various aspects of defense such as missiles, weapons/stores management, turreted weapon systems, and naval technologies, along with security and surveillance systems. One weapon system is the Reconfigurable Integrated-weapons Platform (RIwP), which is to form part of the Stryker vehicle sold by General Dynamics Land Systems to the US Army. For satellites, Moog develops chemical and electric propulsion systems and space flight motion controls. Various launch vehicles and missiles use Moog's steering and propulsion controls, and the International Space Station uses its couplings, valves, and actuators. Moog has both electrohydraulic and electromechanical systems as part of its solutions. In July 2005, Moog entered the market of marine applications. The company has several other product lines that include the design and manufacture of electromechanical actuators, fiber optic modems, avionic instrumentation, optical switches, and resolvers.
Space Sensors and Actuators Market by Product Type (Sensors and Actuators), Platform (Satellites, Capsules\Cargos, Interplanetary Spacecraft & Probes, Rovers/Spacecraft Landers, Launch Vehicles), Application, End User, Region - Global Forecast to 2027
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