Space Grade Connectors Market Outlook 2031
The global space grade connectors market was valued at US$ 809.1 Mn in 2021
The market is estimated to expand at a CAGR of 4.7% from 2022 to 2031
The global space grade connectors market is expected to cross value of US$ 1.2 Bn by the end of 2031
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Overview of Space Grade Connectors Market
The satellite industry is beginning to gain substantial advantage in the telecommunications market, with numerous businesses focusing on establishing low-earth orbit satellite constellations to provide affordable, high-speed Internet connectivity. Tens of thousands of satellites are expected to be launched over the next 10 years in order to attain broad Internet connectivity.
The space market has witnessed the increasing presence from traditional space companies such as government agencies and large telecommunication providers to new space companies in the past few years. Numerous private players have emerged who are providing launch services, space tourism, constellation launch services, and satellite IoT communication.
The demand for high-speed Internet and connectivity solutions has increased significantly in the past few years. However, connecting devices in remote locations is challenging, since telecom infrastructure is not available due to a lack of consumers and infrastructure costs are considerably high.
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Rise in Investments in Space Sector to Drive Global Space Grade Connectors Market
Space services include infrastructure for telecommunications and the Internet, earth observation capabilities, and national security satellites. This segment is booming, while research indicates that it is experiencing overcrowding and monopolization, which are common when enterprises fight for a limited natural resource; however, the outlook for the future is positive.
Companies from diverse industries have already begun exploiting satellite technology and access to space in order to drive innovation and efficiency in their earthbound products and services, owing to decreasing prices for launch and space hardware in general. Commercialization of space has been implemented and visibly demonstrated in all corners of the world. Space-based applications/services have expanded several folds in the last few years.
Several non-government-private-entities (NGPEs) have started engaging in space activities for commercial gains. Numerous start-ups and industries have started making launch vehicles and satellites, and they are eager to provide space-based services. Thus, rising investments in the space sector is likely to drive the space grade connectors market during the forecast period.
Need of Satellite Broadband Services for Residential and Commercial Purposes to Boost Market Growth
Rapid use of Internet services by people is fueling the need to increase satellites in order to provide broadband Internet services for residential and commercial uses. Terrestrial Internet services can provide significant opportunities to improve the life standards of poor people in rural areas, as Internet services are generally not available. Several services such as e-learning, e-commerce, telehealth, entertainment, and other telephony services can be provided to rural areas.
Circular Space Grade Allows Electronic Equipment in Space to Remain Sealed for Long Time
In terms of product type, the global space grade connectors market is divided into circular connector, D-Sub connector, micro-D connector, and others. The circular connector segment held a major share of 39.39% in 2021 and will maintain the status quo at a growth rate of 4.9% during the forecast period. Circular connector is easier to seal and easy to insert and disconnect, which helps for operations in space. It has higher strength-to-weight ratio than any other shape in space. This feature allows the electronic equipment in space to be perfectly sealed for long time.
Furthermore, it is also used for prevention of electronic equipment in space from outgassing and residual magnetism, vibration, and extreme temperatures by establishing a communication bridge between the blocked or isolated circuits. These factors fuel the demand of circular connector in the market.
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Geographic Outlook of Global Space Grade Connectors Market
North America held the largest share of 37.88% in 2021 in the global space grade connectors market, owing to rapid growth of space industry in the region. Huge investment and allowing private player to operate in space industry has driven the growth of various space equipment in this region.
Europe and Asia Pacific are also large consumers of space grade connectors, which held value shares of 29.26% and 27.04% respectively in 2021 in the global market. Europe and Asia pacific are also growing rapidly and exploring the space, due to presence of large number of local manufacturer in these regions. Moreover, China has invested in developing various space technology. Increase in space startups in China is supercharging tech innovation, opening new markets around the world, and expanding the country’s influence in space sector.
The Middle East and African region is the larger consumer of space grade connectors compared to the South America region, owing to increasing space programmers in countries such as the UAE, Oman, and Qatar. UAE government initiatives and investment in the aerospace industry have driven robust demand for business partnerships and helped the UAE outpace other regional markets.
Analysis of Major Players
The global space grade connectors market is fragmented with a large number of small & large scale vendors controlling the majority of the market share. The majority of the firms are spending a significant amount of money on comprehensive research and development, primarily to develop environmentally friendly products. Expansion of product portfolios and mergers and acquisitions are the key strategies adopted by the key players. Airborn Inc., Amphenol Aerospace, Carlisle Interconnect Technologies, Glenair, Inc., Harwin, Inc., IEH Corporation, ITT Inc., Milnec Interconnect Systems, Omnetics Connector Corp., Positronic, Radiall, Smiths Interconnect, Souriau, TE Connectivity, and Teledyne Defense Electronics, are the prominent entities operating in this market.
Each of these players has been profiled in the space grade connectors market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.
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