Global satellite COTS components market to double by 2032: reportNews
August 22, 2022
DUBLIN, Ireland. A new report claims that the global satellite commercial-off-the-shelf (COTS) components market will increase from $1.93 billion in 2021 to $4.12 billion in 2032.
The report, from Research and Markets, states that technological expansion in electronic components and associated devices for Internet of Things (IoT) is driving the market.
"There has been a constant shift in the satellite's electronic technologies due to the increased demand for small satellites," the report states. "Extensive research has been conducted on new global information networks and electronic information management systems to improve the satellite's efficiency and cost and size reduction. The space industry has embraced commercial-off-the-shelf (COTS) components, which provide efficient radiation shielding without compromising the quality. COTS components are used to reduce costs and the development time of space electronics."
There are ongoing project to produce COTS components with "enhanced capability to shield space perturbations at low cost, which are expected to increase with the launch of upcoming mega-constellations," the report adds.