The Asia Pacific Space Electronics Market would witness market growth of 6.9% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Space Electronics Market by Country in 2023 and would continue to be a dominant market till 2031; thereby, achieving a market value of $425.5 million by 2031. The Japan market is registering a CAGR of 6.3% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 7.6% during (2024 - 2031).
Space electronics enable satellite communication systems, which provide services such as television broadcasting, internet access, telecommunication networks, and global positioning systems (GPS). These systems rely on electronic components for data transmission, reception, and processing. Spaceborne sensors and imaging systems use electronics for capturing data about Earth’s surface, atmosphere, and oceans. These observations are crucial for environmental monitoring, weather forecasting, disaster management, urban planning, agriculture, and resource management.
Similarly, Space-based navigation systems like GPS, GLONASS, Galileo, and BeiDou provide precise positioning and timing information everywhere. These systems rely on space electronics for satellite operations, signal processing, and data dissemination. Spacecraft and satellites equipped with scientific instruments rely on electronics for data collection, processing, and transmission. These instruments study celestial objects, cosmic phenomena, planetary exploration, and space weather monitoring.
According to Invest India, India, the world’s third-largest pool of artificial intelligence talent, has enormous potential for an AI revolution. Investments in India’s AI capabilities have grown by 30.8% and are predicted to reach $881 million by 2023. By 2025, the Indian AI industry will be valued at $7.8 billion, or 60% of AI’s Gross Value Added (GVA) in India’s GDP. The industry will be supported mostly by the country’s expanding semiconductor sector. Therefore, due to the above-mentioned factors, the space electronics market will grow significantly in this region.
Free Valuable Insights: The Global Space Electronics Market is Predict to reach USD 5.8 Billion by 2031, at a CAGR of 6%
Based on Type, the market is segmented into Radiation Hardened, and Radiation Tolerant. Based on Platform, the market is segmented into Satellite, Launch Vehicles, and Deep Space Probes. Based on Component, the market is segmented into Microprocessors & Controllers, Discrete Semiconductors, Power Source & Cables, Sensors, Application Specific Integrated Circuits (ASIC), Memory Chips, and Others. Based on Application, the market is segmented into Communication, Navigation, Global Positioning System (GPS) & Surveillance, Earth Observation, Technology Development & Education, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific.
By Type
By Platform
By Component
By Application
By Country
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 