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The space electronics market was valued at $3.3 billion in 2021, and is estimated to reach $5.4 billion by 2031, growing at a CAGR of 5.04% from 2022 to 2031.
Factors such as an increase in investment in space ventures, rise in launch activities by some of the major private and public players, the establishment of a communication satellite constellation in LEO, and the adoption of space tourism in coming years will augment the business opportunities within the space electronics market.
A rise in application of satellites for a range of activities such as surveillance, real-time imaging, communication, navigation, weather forecasting, broadband and connectivity, research, development, and testing, and IoT integration for various government, commercial, and civil-military domains is leading to evolution in the space electronics industry. More than 6,000 satellites were expected to be launched within the timeframe of 2020 to 2027 with rising year-on-year launch rates. Rise in satellite launches has generated demand for various satellite electronics components and other peripheral systems, supporting business opportunities.
Companies have adopted product development and product launch as their key development strategies in the space electronics industry. Moreover, collaborations and acquisitions are expected to enable leading players to enhance their product portfolios and expand into different regions.
Nolan Johnson, I-Connect007
Electronic industry association leaders like IPC, PCBAA, and USPAE have been trekking to Capitol Hill almost weekly this year to reinforce the dire state of the industry and seek additional co-sponsors for HR 7677, a bill supporting the American printed circuit board industry. However, with only 78 days until the end of the 117th Congress, it is not likely that anything will move by the end of this session.
Davy Nakada, Rogers Corporation
Our industry has suffered from a lack of visibility with policymakers. PCBAA brings many voices together so those in Washington realize what's at stake. Semiconductors have received the most attention in recent years while the domestic production of PCBs and related PCB materials continues to decline. We are now seeing legislative language supporting domestic production because of how PCBAA has educated lawmakers and policymakers on the PCB’s place in the microelectronics ecosystem.
Dan Beaulieu, D.B. Management Group
There is plenty of evidence that the American PCB industry is going through a revitalization. While a few new companies are being established, others are being rejuvenated as investors gain more interest and confidence in domestic PCB companies. I reached out to Prashant Patel, owner and president of Alpha Circuit I LLC in the greater Chicago area. I wanted to hear about his investment and the unique path he took to owning a PCB shop.