According to the research report titled ‘Global Space Power Electronics Market Size study, by Device Type (Power Discrete, Power Module, Power IC), by Application ( Satellite, Spacecraft & Launch Vehicle, Rovers Space Stations), by Platform type ( Power, Command and Data Handling,ADCS, Propulsion, TT&C, Structure, Thermal System), by Voltage ( Low Voltage, Medium Voltage, High Voltage) and Regional Forecasts 2022-2028’, available with MarketStudyReport, global space power electronics market was worth USD 205 million in 2021 and is anticipated to progress with 16% CAGR during the stipulated timeframe to reach USD 579 million by the year 2028.

As per report findings, large investments in satellite production as well as developments in microprocessor and FPGA technology are the major growth determinants for global space power electronics market.

Request sample copy of this report: https://www.marketstudyreport.com/request-a-sample/5110091/  

For the unversed, space power electronics refers to the use of electronics aboard satellites, launch vehicles, spacecraft, space stations, and rovers to control and transmit electric power from one form to another. In order to generate electricity for a variety of purposes, it processes high voltages and currents. The National Aeronautics and Space Administration (NASA) states that a modular power electronic subsystem (PESS) with output and input power ports connected to a source and a load can make up a power electronic system.

Furthermore, introduction of novel materials for the production of space electronics, and the rising demand for reconfigurable satellite payloads are expected to augment industry outlook in the coming years.

On the downside, high cost of designing and creating space electronic products, along with the challenges of offering a realistic testing condition for radiation-hardened electronics may stifle worldwide space power electronics market during the analysis timeframe.

Regionally, North America market is slated to grow decently through 2028, owing to constant investment of government in cutting-edge space power electronics technology to enhance the quality and effectiveness of satellite communication and deep space exploration, as well as increasing spending on satellite equipment to improve the defense and surveillance capabilities of armed forces in the region.

Coming to competitive landscape, Crane Holdings, NXP Semiconductors N.V., Vishay Intertechnology Inc., Analog Devices Inc., Bae Systems plc, Renesas Electronics Corporation, onsemi, STMicroelectronics, Texas Instruments Incorporated, and Infineon Technologies AG are the leading players in global space power electronics market.