Global Space-Based RF Microwave Technology Market Grows Steadily at a CAGR of 7.2%

Introduction

To meet the growing market demand for satellite communication, the space and communication sectors have undergone several innovations in recent years. Market opportunities are supported by technological advances in space-based radio frequency (RF)/microwave components, shrinking of parts, decreasing launch costs, and the rising need for stable connectivity in remote areas. The increase in research and development initiatives and university-space cooperation accelerates innovation in the space industry. The market for space-based RF/microwave technology and the space industry have recognized multispectral communication and 3D-printed electronic components as significant developments. The commercial integration of these technologies has increased efficiency and decreased operational expenses.

Market Dynamics

Rising Demand for Satellite Communication Systems Drives the Global Market

In recent years, satellite communication solutions have gained a great deal of relevance, and as the reliance on data transmission and analysis grows, these systems are increasingly vital. Satellite communication systems perform essential economic functions such as aerial satellite communication, navigation, and tracking naval vessels and earth observations. The increase in land and naval logistics, military activities, and air traffic congestion has increased the demand for uninterrupted satellite connectivity systems. Globalization and the virtualization of commercial activities have fueled the need for satellite connectivity solutions. To meet the market's increasing demand, industry participants are employing LEO constellations with significantly increased data transfer rates. Several private companies and start-ups have entered the satellite communication sector due to the expanding commercial potential, boosting market competition. Technological advancements have also sparked new business prospects within the segment's vertical.

Rising Usage of CubeSats Creates Tremendous Opportunities

Principal market participants are conducting primary research to identify solutions to minimize the cost of satellites. Nevertheless, the exorbitant cost of creating and producing satellites is a crucial barrier to the sector's growth. In addition, the high complexity of building and selecting the most appropriate technology for a given need raises the total development cost. Hence, cutting the price of satellites is extraordinarily difficult. In recent years, however, the satellite industry has expanded into the realm of low-cost satellites, including nano, micro, and Cubesats. Owing to this innovation, numerous businesses have adopted the nanosatellite, which facilitates services for government agencies and public-sector sectors nearly similar to those provided by conventional satellites.

Regional Analysis

North America is the most significant global space-based RF microwave technology market shareholder and is anticipated to register a CAGR of 7.3% during the forecast period. The expanding satellite mega-constellation technologies of several new U.S.-based manufacturers, such as SpaceX, OneWeb, and Amazon, will increase the demand for LEO slots. Once operational, these constellations can deliver services with uplink and downlink capacities of several gigabits per second. In addition, recent investments by key industry players are creating huge prospects in the global market.

Europe is estimated to exhibit a CAGR of 6.9% during the forecast period. The European Space Agency (ESA) has generated an enormous market for the satellite sector in Europe. With growing firm investments in new technologies, the potential for creating sophisticated systems is substantial. Also, Europe has the second-highest number of operational satellites in space, supplying a large portion of the satellite connection industry.

Key Highlights 

• The global space-based RF microwave technology market was worth USD 7.18 billion in 2022. It is anticipated to reach an expected value of USD 13.63 billion by 2031 at a CAGR of 7.2% during the forecast period (2023-2031).
• By platform, the global space-based RF microwave technology market is bifurcated into space-based platforms (satellites, launch vehicles, and others) and ground-based platforms. The space-based platform segment accounted for the largest market share and is estimated to exhibit a CAGR of 7.5% during the forecast period.
• By application, the global space-based RF microwave technology market is bifurcated into communication, technology development, navigation/GPS, earth observation, and others. The communication segment accounted for the largest market share and is estimated to exhibit a CAGR of 7.6% during the forecast period.
• By end-user, the global space-based RF microwave technology market is bifurcated into government and military, logistics, media and telemetry, oil and gas, and environment and monitoring. The government and military segment accounted for the largest market share and is estimated to exhibit a CAGR of 7.6% during the forecast period.
• By component, the global space-based RF microwave technology market is bifurcated into TRM, amplifier, RF Switch, RF Cable, FPGA/IC, and others.The TRM segment accounted for the largest market share and is estimated to exhibit a CAGR of 9% during the forecast period.
• By frequency, the global space-based RF microwave technology market is bifurcated into Very High Frequency (VHF) (30MHz-300MHz), Ultra-High Frequency (UHF) (301MHz-3GHz), Super High Frequency (SHF) (4GHz-30GHz), and Extremely High Frequency (EHF) (31GHz-300GHz).The Super High Frequency (SHF) (4GHz-30GHz) segment accounted for the largest market share and is estimated to exhibit a CAGR of 8.6% during the forecast period.
• North America is the most significant global space-based RF microwave technology market shareholder and is anticipated to register a CAGR of 7.3% during the forecast period.

Competitive Players

Competitive Players

The global space-based RF microwave technology market major companies are Airbus S.A.S., Mitsubishi Electric Corporation, Microchip Technology Inc., L3Harris Technologies, Inc., Thales Group, General Dynamics Mission Systems, Kongesberg, Honeywell International Inc., Teledyne Technologies, HUBER+SUHNER, and Leonardo S.p.A

Recent Developments

Market News

• In March 2023, To enhance the manufacturing of silicon carbide (SiC) power semiconductors, Mitsubishi Electric Company (TOKYO: 6503) said that it will double its previous investment planned to make to almost 260 billion yen over the five years ending in March 2026.
• In March 2023, The Japan Meteorological Agency (JMA) awarded the contract to Mitsubishi Electric Corporation (TOKYO: 6503) to construct the Himawari-10, the fourth consecutive geostationary meteorological satellite built by Mitsubishi Electric dating back to the Himawari-7 some 20 years ago.

Segmentation

Global Space-Based RF Microwave Technology Market: Segmentation

By Platform

• Ground-Based Platform
• Space-Based Platform

By Applications

• Technology Development
• Navigation/GPS
• Earth Observation
• Communication
• Others

By End-User

• Environment and Monitoring
• Oil and Gas
• Media and Telemetry
• Logistics
• Government and Military

By Component

• FPGA/IC
• RF Cable
• RF Switch
• Amplifier
• TRM
• Others

By Frequency

• Very High Frequency (VHF) (30MHz-300MHz)
• Ultra-High Frequency (UHF) (301MHz-3GHz)
• Super High Frequency (SHF) (4GHz-30GHz)
• Extremely High Frequency (EHF) (31GHz-300GHz).

By Regions

• North America
• Europe
• Asia-Pacific
• Rest-of-the-World