- The expansion of the space sector across the globe is projected to help the space grade connectors market gain a valuation of more than US$ 1.2 Bn by 2031
- Rising demand for satellite broadband services for commercial and residential applications is resulting into revenue-generation opportunities in the market
ALBANY, N.Y., June 7, 2022 /PRNewswire/ -- The global space grade connectors market is estimated to register growth at a CAGR of 4.7% during the forecast period 2022 to 2031, note analysts of a study by Transparency Market Research (TMR). The report by TMR provides in-depth analysis of growth frontiers for space grade connectors market.
Leading players in the space grade connectors market are focusing on R&Ds in order to develop next-gen and environmental-friendly products. Moreover, they are utilizing varied strategies such as new product launches, mergers, and acquisitions in order to maintain their prominent positions in the market for space grade connectors.
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Space Grade Connectors Market: Key Findings
- The space sector is expanding at promising pace owing to a wide range of services included in it such as earth observation capabilities, national security satellites, and infrastructure for telecommunications and the Internet. With lowered investments needed for space hardware and launch in the recent years, numerous organizations from varied industry verticals globally have been seen increasing focus on the satellite technology and gaining access to space so as to drive efficiency and innovation in their earthbound services and products. Moreover, there has been commercialization of space across the globe. These factors are projected to play a key role in the future market demand for space grade connectors, notes TMR study. Moreover, the market is estimated to be driven by rising participation of major non-government-private-entities (NGPEs) in space activities in order to achieve commercial advantages.
- With rise in the utilization of the Internet across the globe, there has been a surge in the need for increasing the number of satellites so as to fulfill current broadband Internet demand for commercial as well as residential purposes globally. This aside, terrestrial Internet services are being popularized in the recent times owing to their ability to offer notable avenues in order to advance the life standards of deprived population in rural regions, where there is no accessibility to the Internet services. The use of terrestrial Internet services can help in providing numerous services including e-commerce, e-learning, entertainment, telehealth, and other telephony services to people from the rural regions of the world, notes a sales forecast for the space grade connectors market by TMR.
Space Grade Connectors Market: Growth Boosters
- Surge in the focus of many governments on increasing investments in space sector is bolstering the space grade connectors market
- Increase in the demand for the Internet services around the world is leading to rise in the need for space grade connector solutions globally
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Space Grade Connectors Market: Regional Analysis
- North America accounted for principal share of 37.88% of the space grade connectors market in 2021. The scope for the space grade connectors market growth is estimated to increase in this region during the forecast period due to factors such as swift expansion of the space industry in the region.
- The space grade connectors market is prognosticated to gain lucrative opportunities in Asia pacific and Europe due to presence of considerable number of product manufacturers as well as end-users in the region
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Space Grade Connectors Market: Key Players
Some of the key players profiled in the report are:
- Amphenol Aerospace
- Airborn Inc.
- Glenair, Inc.
- Carlisle Interconnect Technologies
- IEH Corporation
- Harwin, Inc.
- Milnec Interconnect Systems
- ITT Inc.
- Positronic
- Omnetics Connector Corp.
- Smiths Interconnect
- Radiall
- TE Connectivity
- Souriau
- Teledyne Defense Electronics
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Space Grade Connectors Market Segmentation
Product Type
- Circular Connector
- D-Sub Connector
- Micro-D Connector
- Others
Application
- PCB Connection
- Panel Mount
- Basic Cable Assembly
- Heavy-Duty Cable Assembly
- Test Equipment
- Others
End-use
- Satellite
- Space Station and Deep Space Robots
- Spacecraft
- Carrier Rocket
- Ground Support Equipment
- Others
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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