Global Space-Based RF & Microwave Technology Market to Reach $14,015.8 Million by 2031
The space-based RF & microwave technology market is projected to reach $14,015.8 million by 2031, reveals the premium market intelligence study by CRI Report. The study also highlights that the market is set to witness a CAGR of 7.26% during the period 2021-2031.
Space-based RF & microwave technology refers to any kind of radio frequency (RF) components that are integrated with satellites, launch vehicles, deep-space probes, and ground stations. The scope of operations of these components includes data transfer operations with major platforms such as space-to-space and space-to-ground.
USP of the Market Intelligence Report
• A dedicated section focusing on the futuristic trends adopted by the key players operating in the global space-based RF & microwave technology market
• Extensive competitive benchmarking of top ten players (including OEMs and component providers) offering a holistic view of the global space-based RF & microwave technology landscape
• Qualitative and quantitative analysis of space-based RF & microwave technology industry at country level granularity by platform and frequency segments
• A dedicated section focusing on the existing and upcoming satellite constellation along with their operator, weight category, and application information
According to this report, “The market potential of the space-based RF & microwave technologies for satellites, and launch rockets is expected to reach new heights due to the advancements in RF components. The introduction of software-defined components has allowed institutes to carry longer space missions with a versatile scope of study. In contrast, additive manufacturing has notably reduced the prototyping cost, reducing the overall production cost.
Key companies operating in the market
Some of the key companies operating in the market include ASELSAN A.Ş, Airbus S.A.S., General Dynamics Mission Systems, Inc., Honeywell International Inc., HUBER+SUHNER AG, Kongsberg, L3Harris Technologies, Inc., Leonardo S.p.A, Mitsubishi Electric Corporation, Microchip Technology Inc, Teledyne Technologies, Thales Group, and TTI Norte S.L. (TTI).
The companies that are profiled in the report have been selected post undergoing in-depth interviews with experts and understanding details around companies such as product portfolio, annual revenues, market penetration, research and development initiatives, and domestic and international presence in the space-based RF & microwave technology industry.
Market Segmentation of Space-Based RF & Microwave Technology Market
• Platform: The global space-based RF & microwave technology market has been segmented based on platforms including space-based platforms and ground-based platforms. The space-based platforms segment consisting of satellites, launch vehicles, and other man-made celestial objects like deep space probes and exploration rovers. The satellite segment within the space-based platforms is expected to dominate the global space-based RF & microwave technology market, on account of a major focus toward establishing satellite constellations for high-speed data transfer rates.
• Application: The global space-based RF & microwave technology market has been segmented based on application, including communication, earth-observation, navigation/GPS, technology development. The communication application is expected to be the front runner in the global space-based RF & microwave technology market, mainly to cater to the rising market demand for the end user to have a stable and high-speed data connection. Furthermore, the emergence of a fifth-generation network and the approach taken by industry players to cater to end users directly instead of passing network distribution centers would drive the market and generate new opportunities.
• End User: The global space-based RF & microwave technology market has been segmented based on end users, including government and military, logistics, media and telemetry, oil and gas, environment and monitoring. The government and military segment is estimated to dominate the global space-based RF & microwave technology market, owing to its requirement to use satellite networks for various military, surveillance, and communication activities. In addition, a secure and stable high-speed communication network is required to ensure safe operations have allowed nations to place their individual communication systems in space and establish a private network. This initiative has spurred market opportunities within the global space-based RF & microwave technology market.
• Region: The global space-based RF & microwave technology market has been segmented based on region, including North America, Europe, Asia-Pacific, and Rest-of-the-World. North America is expected to account for the highest share of the global space-based RF & microwave technology market. This is due to a significant number of companies based in the region, and increased spending by government organizations such as NASA on the procurement of RF components for space applications.
Key Questions Answered in the Report
• What are the upcoming trends in the global space-based RF & microwave technology market across different regions?
• What are the major driving forces expected to increase the demand for satellite connectivity during the forecast period 2021-2031?
• What are the major challenges inhibiting the growth of the global space-based RF & microwave technology market?
• What was the revenue generated in the global space-based RF & microwave technology market by various segments in 2020, and what are the estimates by 2031?
• Which end user of the space-based RF & microwave technology market (government and military, logistics, media and telemetry, oil and gas, and environment and monitoring) is expected to dominate the market in the coming years?
• What is the estimated revenue to be generated by the global space-based RF & microwave technology market across different regions (North America, Europe, Asia-Pacific, and Rest-of-the-World) during the forecast period?
• Who are the key players in the global space-based RF & microwave technology market, and what are the new strategies that they are adopting to make a mark in the industry?
• What major opportunities do the space-based RF & microwave technology market companies foresee in the next ten years?
• What is the competitive strength of the key leading players in the global space-based RF & microwave technology market?