Space Power Electronics Market Growth, Future, Scope And Forecast To 2030

The Space power electronics market is projected to grow from USD 205 million in 2021 to USD 435 million by 2026, at a CAGR of 16.2%.

Space power electronics is the application of electronics on satellites, spacecraft, launch vehicles, space stations and rovers to control and convert electric power from one form to other. It deals with the processing of high voltages and currents to deliver power that supports a variety of needs. According to the National Aeronautics and Space Administration, a power electronic system can comprise a modular power electronic subsystem (PESS) connected to a source and load at its input and output power ports, respectively. Semiconductor devices such as metal-oxide semiconductor field effect transistors (MOSFET), insulated gate bipolar transistors (IGBT), mos-controlled thyristor (MCT), and gate-turn-off thyristors (GTO) represent the cornerstone of modem power electronic converters.

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INFINEON TECHNOLOGIES

Infineon Technologies is a German semiconductor manufacturer which was formed in 1999 by separating from Siemens. Infineon Technologies is a leading global designer, manufacturer, and supplier of a broad range of semiconductors used in various microelectronic applications. Infineon's product portfolio consists of logic products, including digital, mixed-signal, and analog integrated circuits, as well as discrete semiconductor products. It has focused on four main segments of its business, creating a specialized group of people (a division) for each: Automotive (ATV), Industrial Power Control, Power & Sensor Systems, and Connected Secure Systems.

TEXAS INSTRUMENTS INCORPORATED

Texas Instrument Incorporated (TI), a US-based company founded in 1930 as Geophysical Service Incorporated, came to be known as Texas Instruments after a reorganization in 1951. It designs and manufactures analog technologies, digital signal processing (DSP) and microcontroller (MCU) semiconductors. TI is a leader in semiconductor solutions for analog and digital embedded and applications processing. A global semiconductor company, TI innovates through design, sales, and manufacturing operations in more than 30 countries.

Texas Instrument incorporated has three business segments: Analog, Embedded Processing, and Other. The Power segment, which consists of space power electronics, falls under the Analog segment. Analog semiconductors change real-world signals, such as sound, temperature, pressure, or images, by conditioning them, amplifying them, and often converting them to a stream of digital data that can be processed by other semiconductors, such as embedded processors. They are also used to manage power in all electronic equipment by converting, distributing, storing, discharging, isolating, and measuring electrical energy.

STMICROELECTRONICS

STMicroelectronics was formed in 1987 by the merger of two government-owned semiconductor companies: Italian SGS Microelettronica and French Thomson Semiconducteurs, the semiconductor arm of Thomson. It is a global independent semiconductor company that designs, develops, and manufactures a broad range of products, including discrete and standard commodity components, application-specific integrated circuits (“ASICs”), full-custom devices and semicustom devices, and application-specific standard products (“ASSPs”) for analog, digital and mixed-signal applications.

The company operates under 4 segments: Automotive and Discrete Group (ADG); Analog, MEMS and Sensors Group (AMS); Microcontrollers and Digital ICs Group (MDG); and Others. ADG is comprised of dedicated automotive ICs, and discrete and power transistor products. AMS is comprised of analog, smart power, low power RF, MEMS sensors & actuators, and optical sensing solutions. MDG is comprised of microcontrollers (general purpose and secure), memories (RF and EEPROM), and RF communications. Others include revenue from sales assembly services and other sources.

ONSEMI

Onsemi, previously known as ON Semiconductor, was originally a spinoff of Motorola's Semiconductor Components Group and continues to manufacture Motorola's discrete, standard analog, and standard logic devices. It has an extensive portfolio of sensors, power management, connectivity, custom and SoC, analog, logic, timing, and discrete devices. The power management and motor driver semiconductor components control, convert, protect, and monitor the supply of power to the different elements within a wide variety of electronic devices. Custom ASICs and SoC devices use analog, MCU, DSP, mixed-signal, and advanced logic capabilities to enable the application and use of automotive, medical, aerospace/defense, consumer and industrial customer products. The signal management semiconductor components provide high-performance clock management and data flow management for precision computing, communications, and industrial systems. The company’s portfolio of sensors, including image sensors, radar, and LiDAR, provide advanced solutions for automotive, industrial, and IoT applications.

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5G in defense market size is projected to grow from USD 665 million in 2022 to USD 2,487 million by 2027

Fifth-generation (5G) wireless system, or 5G mobile network, is an advanced telecommunication technology that enables high-speed data transfer and high system spectral efficiency (implies larger data volume) with relatively low battery consumption. It also offers the provision of connecting several devices simultaneously. 5G in defense would enhance intelligence, surveillance, and reconnaissance (ISR) systems and processing and enable new methods of command and control (C2). Factors such as the are the Higher network speed and lower latency in 5G , and growing adoption of autonomous and connected devices are driving factors assisting the growth of the 5G in defense market.

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Driver: Growing adoption of autonomous and connected devices
5G technology can support up to 1 million devices in a square km range (approximately). This means multiple devices such as sensors can be connected to each other using a 5G network. All autonomous systems or platforms work on a network through which data is transferred. This data is interpreted and then received by the systems through the network, which is used to take action by the autonomous systems. With a network that has higher speed and low latency, such systems will work more efficiently. For instance, the communication between an unmanned aerial vehicle and its controller will be quick and efficient when on a 5G network compared to current communication systems. Autonomous platforms, such as armored vehicles and unmanned ground vehicles, can function efficiently with a secured 5G network.

The 5G network is observed to have improved the functioning of autonomous systems. Countries like China, the US, and Israel are testing and/or operating 5G technology within their military forces. European countries, such as France and Italy, are also looking forward to implementing 5G within their military forces. According to the Federation of American Scientists (FAS) report Artificial Intelligence and National Security, published in November 2020, the US Army planned to deploy a variety of robotic combat vehicles (RCVs) with various autonomous capabilities, such as navigation, surveillance, and IED removal. These gadgets would be used in conjunction with the optionally manned fighting vehicle.

In addition, the Navy has developed the rapid autonomy integration lab (RAIL) to build, assess, certify, and deploy new and enhanced autonomous systems. By delivering quicker speeds and more capacity, the 5G network is reported to have boosted the efficiency of autonomous systems. As a result, an increase in the adoption of autonomous systems and connected devices due to their improved and increased performance on the 5G network is likely to drive the market.

Restraint: Lack of standards and protocols for use of 5G
5G is an upcoming technology, and for developing, managing, and successfully implementing 5G infrastructure, companies require protocols and rules to follow. At present, very few countries are utilizing 5G in the military arena, resulting in a lack of standards and protocols. There is a delay by the international community in the use of 5G for the military due to the unavailability of adequate hardware suppliers. Some of the major suppliers are Huawei (China), Nokia (Finland), and Ericsson (Sweden).

As the 5G infrastructure for defense is in the development phase, the companies involved in this technology have to face issues related to access to information, experimentation with military platforms, and availability of regulations for development and testing, among others. The shortage of skilled manpower is also an issue faced by defense firms. As 5G technology in the military is still in its early stage of lifecycle, the workforce possessing in-depth knowledge of this technology is limited. Thus, the impact of this restraining factor is likely to continue during the initial years of the forecast period.

By Communication Infrastructure, the small cell segment is projected to dominate 5G in defense market during the forecast period
Small cell segment growth is attributed to the large-scale deployment of small cells by 5G network operator. With the further introduction of the 5G network, the data connectivity speed is expected to increase significantly. As small cells can help facilitate 5G deployment, they are anticipated to play a pivotal role in the market for 5G communication infrastructure.

By platform, the airborne segment to lead 5G in defense market during the forecast period
By platform, the airborne segment is projected to register the highest CAGR of 34.5% during the forecast period. With advancements in 5G technology, airborne applications (such as drones) and mission-critical communications will be able to perform with increased efficiency.

North America is projected to lead the 5G in defense market during the forecast period.
North America is estimated to lead the 5G in defense market during the forecast period owing to increased investments by the US Department of Defense in 5G technology. The US is projected to be the largest developer and operator of 5G technology globally, resulting in a large share of the North American region in the global market. 5G technology in defense helps improve the processing and functioning of ISR (intelligence, surveillance & reconnaissance) systems, enables new command and control systems, enhances augmented and virtual reality applications, modernizes maintenance processes, and improves efficiency in logistics supply using technologies such as blockchain. With the increasing use of connected systems through IoT, a need for low-latency communication technology has risen. The allocation of a wide frequency band to the US military has opened new opportunities for system designers to develop 5G enabled components and enhance the operational efficiency of all related systems

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Vessel Traffic Management Industry worth $8.7 billion by 2027

The Vessel Traffic Management Market is projected to grow from USD 5.8 billion in 2022 to USD 8.7 billion by 2027, at a CAGR of 8.4% during the forecast period.

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Driver: Increased Vessel congestion at ports
Port congestion is one of the most significant supply chain concerns that Fleet Operations managers encounter. Many ports have seen increased port congestion as a result of Covid-19 and strong demand. These delays are a problem because, aside from inefficiencies in terms of time, primarily result in greater costs at all stages of freight transport and delivery. Fleet Operations Managers may assess the amount of time spent at a major port, estimate probable delays, and make voyage-related choices, such as reducing speed to conserve fuel and improve vessel efficiency. Vessel Traffic Management solutions will assist ports in keeping track of vessels as they travel across the seas, planning efficient operations while accounting for bunkering costs and weather, and reviewing visual voyage reports to analyze incidents, performance, and charter party compliance.

Restraint: Effect of natural disasters on ports
Natural catastrophes such as hurricanes, typhoons, and earthquakes wreak havoc throughout the world on a regular basis, wreaking havoc on national and regional economy. High population density, economic expansion, and climate change are all factors contributing to natural catastrophes' rising economic toll. Firms, businesses, and people struggle to repair and rebuild their livelihoods in the aftermath of a disaster during the recovery phase. This involves a company's capacity to bring its goods to export markets, guaranteeing that it can continue to operate. Disasters in coastal locations, particularly port cities, will damage not just the companies in the devastated city, but also those in the surrounding region that use the city's port services. The subsequent interruptions have the potential to extend across supply systems, causing massive economic damage.

A vessel traffic service is a marine traffic management system established by different port authorities, similar to Air Traffic Control systems. The International Maritime Organization defines vessel traffic service as “ a service implemented by a component authority designed to improve the safety and efficiency of vessel traffic and protect the environment. The service shall have the capability to interact with the traffic and respond to traffic situations developing in the vessel service area.”. Most vessel traffic service systems use radar, RF communication, VHF communication and Automatic Identification System (AIS) to keep track and monitor vessel movements and provide navigation aid to the crew.

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Fixed-wing VTOL UAV Industry worth $4,627 million by 2030

 The Fixed-wing VTOL UAV market is estimated at USD 842 million in 2022 and is projected to reach USD 4,627 million by 2030, at a CAGR of 23.7% from 2022 to 2030. The rise in the adoption of technologically advanced runwayless unmanned aerial military platforms by defense forces is one of the most significant factors projected to drive the growth of the fixed-wing VTOL UAV market. The increasing adoption of fixed-wing VTOL UAVs in various commercial applications, such as monitoring, surveying & mapping, agriculture, aerial remote sensing, and product delivery, is also contributing to the growth of the market.

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Driver: Wide-scale use in civil & commercial applications
Fixed-wing VTOL UAVs are extensively used in various civil & commercial applications such as photography, product delivery, greenhouse emission monitoring, and wildlife research & preservation. They are also being used in the agriculture, real estate, mining, and oil & gas industries. In the agricultural sector, the use of UAVs has led to the evolution of precision farming, which enables farmers to monitor the health of crops, keep track of irrigation equipment, and identify different types of weeds, among others.
Rapid industrial developments in the US, China, France, and Japan have increased the demand for automation in various industries. Moreover, increased foreign investments and the transfer of technologies related to fixed-wing VTOL UAV platforms from developed economies to emerging economies are also expected to contribute to increased demand for them in civil & commercial applications. The growing use of these UAVs in civil & commercial applications due to their superior endurance and low operating costs has resulted in increased production, which is the primary factor driving the growth of the market. Threod Systems (Estonia), ALTI UAS (South Africa), Autel Robotics (US), Vertical Technologies (US), Quantum-Systems (Germany), and Wingtra (Switzerland) are significant players in the commercial UAV space.

Restraint: Lack of skilled & trained personnel for operation
Unlike conventional aircraft, personnel operating fixed-wing VTOL UAVs need to ensure the reliability of the entire unmanned aerial system, which includes UAVs, ground control stations, and communication equipment. These UAVs can fly at different altitudes but require pilots to control and operate them and skilled personnel for remote piloting. The number of pilots available for such high precision operations is comparatively low. An increase in drone adoption in the commercial and law enforcement & government applications adds to the growing need for skilled fixed-wing VTOL UAV pilots. Presently, to reduce the number of accidents caused due to the poor control skills of operators, efforts are being made to improve the autonomy of these systems, thereby reducing the involvement of human operators. Fixed-wing VTOL UAVs should be equipped with systems that offer them autonomous sense and avoid, the capability to avoid collisions during operation alongside manned aircraft in congested airspace and beyond the line of sight of ground control stations.

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Robotics and Automation Actuators Market Size, Share, Future and Analysis

The Robotics and Automation Actuators Market is estimated to be valued from USD 18.7 billion in 2022 to USD 35.8 billion by 2027; at a CAGR of 13.9% during the forecast period.

The robotics and automation actuators market is growing at a significant rate, and this trend is expected to continue during the forecast period. This growth can be attributed to the development of advanced actuators, such as pneumatic muscle arm actuators, shape memory alloy actuators, and compact electric actuators. However, stringent regulations regarding safety and power consumption, noise, and leak issues are some of the restraints impacting the growth of the market.

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The Roboticts application segment of the robotics abd automation actuators market is projected to grow at the highest CAGR during the forecasted period.

By application, the robotics segment is projected to grow at the highest CAGR in the robotics and automation actuators market in 2022. The growth in service robots in applications such as logistics, medical, field robotics, exoskeleton and household will fuel the growth of robotics segment.

The Rotary actuator segment of the robotics abd automation actuators market is estimated to have the highest CAGR during the forecasted period

By type, the rotary is estimated to grow at a highest CAGR during the forecast period. Growth in rotary actuators can be attributed to the increasing installations of industrial robots and growing demand for service robots.

Asia Pacific is estimated to lead the robotics and automation actuators market

Asia Pacific is estimated to lead the robotics and automation actuators market by 2027. The market growth in this region can be attributed to the installation of automation systems in Japan and China and the higher manufacturing of industrial robots in these regions. The presence of some major companies such as SMC (Japan), MISUMI Group Inc. (Japan), IAI (Japan) is also contributing to the growth of the Asia Pacific robotics and automation actuators market.

ABB (Switzerland), Rockwell Automation (US), Altra Industrial Motion (US). Moog (US), SMC (Japan), Curtis Wright (Exlar) (US), and MISUMI (Japan) are some of the leading players covered in the robotics and automation actuators market report.

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Unmanned Ground Vehicles Market will Hit 3.6 billion

The Unmanned ground vehicles market is estimated to be USD 2.7 billion in 2022 and is projected to reach USD 3.6 billion by 2027, at a CAGR of 5.7% from 2022 to 2027. The market is driven by factors such as innovations in Unmanned ground vehicles used in navigation and communication satellites across the world.

The market is driven by factors such as development of new & advanced Unmanned ground vehicles which are being used in several military operations such as Mine Clearance, Search & Rescue etc, and commercial operations such as Firefighting, Autonomous Delivery, etc.

BAE Systems (UK), Thales Group (France), Lockheed Martin (US), QinetiQ (UK), and Northrop Grumman Corp. (US) are among the key global companies manufacturing unmanned ground vehicles. BAE systems focuses on providing rugged and reliable UGVs that can be used for various defense and commercial operations. BAE systems invests heavily in the Research & Development (R&D) which makes their hold on this market even stronger.

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Rising adoption of UGVs for counter-insurgency operations

Terrorism is a serious global issue and has resulted in a significant number of civilian deaths during the last decade. Terrorism imposes a harmful impact on the social as well as economic conditions of countries. For instance, the 1993 bomb blasts in London resulted in a loss of USD 1.00 billion to the insurance industry of the UK. Hence, countries affected by terrorism are procuring and developing advanced military equipment to prevent and fight terrorism. This has led major players in the military robotics industry to develop UGVs to counter-terror attacks. For instance, Northrop Grumman exhibited its medium-sized unmanned ground Vehicles, CUTLASS, at the Counter Terror Expo held in London in 2013. A wide range of live daily scenario-based capabilities to remotely handle hazardous situations and carry out surveillance activities by UGVs were demonstrated during this expo. According to The Telegraph, CUTLASS has replaced Wheelbarrow, the bomb disposal robot used by the British Army since 2009.

In 2011, the Defence Research and Development Organisation (DRDO) of India launched a program for the R&D of state-of-the-art UGVs with an investment of USD 75.0 million. This research program has been planned for 10 years, starting in 2011. The motive of this program is to develop UGVs, specifically for the Indian Army. The use of UGVs has acquired a great significance in counter-insurgency operations and urban as well as jungle warfare situations. These vehicles are used in reconnaissance and surveillance applications and for disposing and managing Improvised Explosive Devices (IEDs). For instance, the Indian Army uses a Remotely Operated Vehicles (ROV), Daksh, for counter-insurgency operations. The vehicle is operated remotely and can reach inaccessible or dangerous places. It has a camouflage design and uses electric motors to keep the noise level to a minimum.

By UGV payloads, Sensor Payloads PROJECTED to GROW AT HIGHEST CAGR DURING FORECAST PERIOD

Sensors in UGVs are used for several applications including security, combat operations, Intelligence, Surveillance and Reconnaissance (ISR), Firefighting, and many more. The sensors are eyes and ears of the UGVs which helps them move and carry-out the assigned tasks with accuracy and efficiency. Hence, the sensors are accounted for the highest share of the total UGV payloads market. The constant research & development in the sensor payloads is required for further improving the performance of the UGV and open-up new application areas. Which is responsible for the highest growth of the sensors market in UGV payloads.

SMSS (Squad Mission Support System) by Lockheed Martin (US) is an autonomous unmanned ground vehicle that is primarily designed for logistics support for land forces. SMSS modular design allows the vehicle to be modified as a transport, scout, mobile power, and communication platform. Its sensor suite integrates Light Detection and Ranging (LIDAR), infrared, and color camera. It can lock on and follow anyone by identifying the 3D profile captured by inboard sensors.

By UGV military applications, Explosive ordinance disposal (EOD) segment PROJECTED to GROW AT HIGHEST CAGR DURING FORECAST PERIOD

Explosive Ordinance Disposal is one of the crutial UGV operation in military domain. EOD robots are used for identifying and difusing the traps, explosives, dangerous objects, etc. These UGVs are integrated with bomb detection systems. The UGVs used for Explosive Ordinance Disposal carries several different payloads depending on the type of EOD mission.

North America region accounts for largest market share in Unmanned ground vehicles market

North America led the Unmanned ground vehicles market in 2021, with the US accounting for the largest share of the regional market. The growing demand for Unmanned ground vehicles in the US and Canada, and the use of unmanned ground vehicles in different commercial as well as military applications are key factors driving the market in North America.

Major unmanned ground vehicles market players present in North America include L3harris Technologies (US), Lockheed Martin Corporation (US), Teledyne-FLIR. (US), Northrop Grumman Corp. (US), and General Dynamics (US). Other key players present in North America are Textron Inc. (US), and Oshkosh Inc (US).

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Ultralight and Light Aircraft Industry worth $11.9 billion by 2030

The Ultralight and Light Aircraft market is projected to grow from USD 7.5 billion in 2022 to USD 11.9 billion by 2030, at a CAGR of 5.9% from 2022 to 2030.

The demand for commercial & ultralight and light aircraft used in personal, passenger, commercial cargo, training, survey & research, agriculture, and medical applications across various end-use industries, is one of the major driving factor for the demand of ultralight and light aircraft market.

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Driver: Low-cost operation and maintenance of ultralight aircraft will drive the market
Ultralight aircraft are very small in size and weigh less than commercial aircraft. Ultralight aircraft are defined based on Maximum Take-off Weight (MTOW). Acquiring an ultralight aircraft is easier owing to the lax regulations regarding their ownership in various countries. The use of ultralight and light aircraft is common in countries such as the US, Canada, and Australia for sports and recreational purposes. Some of the ultralight aircraft also use automotive grade gasoline which helps bring down the operational cost of the aircraft. On average, an ultralight aircraft uses 2-3 gallons of fuel per hour, making it inexpensive to operate.

The cost of an ultralight aircraft varies model wise. Hang glides cost about USD 5,000, while the more popular ultralight trikes cost about USD 100,000. These aircraft are also available as kits in many regions around the world, providing the least expensive options for enthusiasts. As ultralight and light aircraft are made of few movable parts, wear and tear are less compared to general aviation aircraft, which has a more complex system. The low cost of acquisition, maintenance, and operation leads to a low cost of ownership, which is expected to drive the market for ultralight and light aircraft.

Restraint: Delay in aircraft deliveries
According to the GAMA Annual Report 2021, general aviation manufacturers delivered new aircraft worth over USD 25.2 billion in 2021, an increase of 10.2% from 2020. The economic crisis because of Covid-19 affected the global growth rate and profitability of various industries. The global GDP growth rate is expected to grow 6% in 2021 (Source: World Bank).

The general aviation sector is also not exempt from the effects of the economic slowdown. The growth rate of the ownership of ultralight aircraft and their use in recreational and sports flights is currently moderate. Trade restrictions between the US and China have impacted the growth of the ultralight and light aircraft market. International trade and investments are also affected due to this dispute. Although there is recovery, there also exists a fear of the Chinese economy overheating that can pull the global economy back into a recession. This can adversely affect the growth of the ultralight and light aircraft market. In the US, the economic crises and stringent regulations have led to the shutdown of many ultralight aircraft manufacturers in the recent past.

Opportunity: Advancement of traditional aircraft propulsion
Hybrid-electric aircraft propulsion is an advancement of traditional aircraft propulsion, which operates on conventional fossil fuels. There has been a rapid rise in research activities for the development of commercially viable hybrid-electric aircraft propulsion. The main driver for these research activities and the introduction of new aircraft in the market are the various advantages of hybrid-electric aircraft propulsion over traditional propulsion technology. These advantages are beneficial for airlines, passengers, and the environment.

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