Space semiconductor market to reach $4.8 billion by 2032, study finds
NewsMarch 19, 2024
WILMINGTON, Del. The global market for semiconductors used in space missions and exploration, valued at $2.1 billion in 2022, is estimated to reach $4.8 billion by 2032, growing at a CAGR [combined annual growth rate] of 8.8% from 2023 to 2032, according to a new report from Allied Market Research, “Space Semiconductor Market."
According to the study authors, growing interest in space exploration by government and commercial organizations will fuel the need for semiconductor parts for satellites, rovers, landers, spaceships, and other vehicles used in space exploration. In addition, developments in semiconductor technology have led to enhanced computing power, increased radiation tolerance, and increased dependability of parts.
In terms of type, the study predicts that the radiation-hardened grade segment is anticipated to exhibit significant growth in the near future; on the basis of component, the integrated circuits segment is anticipated to exhibit significant growth; and in terms of application, the satellite segment is anticipated to exhibit significant growth during the period studied.
For additional information, visit the Allied Market Research website.
