Space sensor market is anticipated to grow at a considerable CAGR of 8.2% during the forecast period (2024-2031). Space sensors market growth is attributed to increasing demand for space sensors in satellite development, expansion in the space exploration market, growing commercial satellite industry, and growing application in defense. The market is highly influenced by investment from state-run organizations for developing and innovating space sensor technology to enhance space and defense capabilities. The major trend in the market includes miniaturization of space sensing technology, demand for remote sensing and observation-based sensing technology, and integration of novel technology such as quantum sensors.

Market Dynamics  

Rising Application in Defense

The growing need for space-based assets in defense and security is driving demand for sensors in the marketplace. Space sensors are used to monitor, acquire intelligence, and provide early warning systems. Satellites equipped with high-resolution optical sensors, synthetic aperture radar SARs, or other advanced imaging technologies provide critical intelligence data for monitoring potential threats, assessing military operations, and obtaining strategic information on a timely basis. Also, hypersonic missiles and ballistic missile systems leverage space sensors to work. For instance, in January 2024, the Space Development Agency granted L3Harris, Lockheed Martin, and Sierra Space $2.5 billion for 54 satellites in its new missile warning and missile tracking (MW/MT) and missile defense networks. The MW/MT satellites are designed to detect and track missile launches from orbit using infrared sensors with a large field of view. The missile defense satellites will have a mix of wide and medium-field-of-view infrared sensors to provide high-quality fire control tracks, assisting ground forces to intercept missiles.

Advancements in Space Sensor Technology

The market has recorded several technological advancements and product developments in recent times. Major market participants are working on developing technologically enhanced sensors to withstand space environments while improving sensor reliability and efficiency. Quantum sensors are one such advancement which can detect even minute changes in their surroundings, identify items underwater or underground, and provide navigational information if the GPS is down or unavailable. The European Commission is laying the groundwork for the launch of a quantum space gravimetry pathfinder mission, which will be the first flight demonstration of the instrument's groundbreaking technology to characterize its performance. This will help prepare for a future full-scale Earth observation mission. The CARIOQA-PHA (Phase A) project will develop the initial phase of the Pathfinder space mission. In January 2024, the project partners (CNES, German Aerospace Center (DLR), Airbus Defense & Space, GMV, and FORTH/PRAXI) officially launched the Phase A project. This is a significant milestone in the demonstration mission's efforts to test a quantum sensor capable of sensing accelerations in space using cold atoms.

Segmental Outlook 

Our in-depth analysis of the global space sensors market includes the following segments by type, platform, and end-user.

• Based on type, the market is segmented into IMU sensors, GPS sensors, star sensors, optical sensors, synthetic aperture radar sensors, pressure sensors, temperature sensors, and others (vibration sensors, gas sensors)

• Based on the platform, the market is segmented into satellites, space stations & testing probes, rovers/spacecraft landers, and launch vehicles.

• Based on end-users, the market is segmented into civil, commercial, and defense.

Satellites are Projected to Dominate the Market 

The satellite segment dominated the market, owing to increased scheduled satellite launches by major public and private satellite operators, the growing small satellite market, and the increasing application of satellites. Further, several state-driven organizations have invested in the development of communication, monitoring, weather forecasting, and navigation satellites, creating demand for sensors. According to the Space Foundation's 2023 Q4 report, global launch activity hit record highs for the third year in a row, with 223 launch attempts and 212 successful launches. Commercial launch activity rose by 50% in 2022. The United States witnessed a 33.0% rise in launch attempts, while China, India, and Japan also saw increased activity, with more than 2,800 satellites sent into orbit, 23.0% more than in 2022.

Defenses is the Biggest End-User

Space sensing was established to accelerate innovation in response to potential threats such as hypersonic weapons, which put our missile warning, tracking, and defense capabilities at risk. Satellites are also often used to support military or security missions such as intelligence, surveillance, and reconnaissance (ISR), which verify compliance with arms control. CACI International Inc. signed a five-year cooperative research and development agreement (CRADA) with the US Army Space and Missile Defense Technical Center (USASMDC-TC) to advance the development of advanced payload technologies, space sensor applications, and resilient positioning, navigation, and timing (PNT).

Regional Outlook 

Space sensors market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (Middle East & Africa, and Latin America).  

North America Holds Highest Share in Global Space Sensors Market 

North America holds the highest share of the global space sensor market. The key factors contributing to the growth are increasing the defense budget, investment in novel sensing technology, the presence of major sensor manufacturers, and rising investment in space exploration, and commercial space missions. For instance, in February 2024, NASA selected 11 American firms to develop technology that would enable long-term exploration on the Moon and in space for the benefit of all. The technologies span from lunar surface power systems to equipment for in-space 3D printing, expanding industrial capabilities for a long-term human presence on the Moon via Artemis and other NASA, government, and commercial missions. The projects approved for the agency's sixth tipping point opportunity will be sponsored jointly by NASA and industry partners. The total estimated NASA commitment to the collaborations is $150.0 million. Each company will contribute a minimum percentage of the entire project cost, ranging from 10-25.0%, depending on its size. NASA's Space Technology Mission Directorate (STMD) will award Space Act agreements with milestone-based funding that will run for up to four years.

Global Space Sensors Market Growth by Region 2024-2031 

Asia-Pacific is the Fastest Growing in Space Sensors market 

• The Asia-Pacific region is the space-tech outsourcing market for Western countries as they launch and collaborate for low-cost space missions with space agencies such as ISRO.

• Asia-Pacific governments have heavily invested in developing their space capabilities including wireless communication, navigation, space exploration, and earth monitoring alongside allowing private companies to launch commercial projects in space.

Market Players Outlook 

*Note: Major Players Sorted in No Particular Order. 

The major companies serving the global space sensors market include ABB Ltd., TE Connectivity Ltd., Honeywell International Inc., Ametek Inc., and Airbus S.A.S, among others. The market players are focusing on capitalizing on growth by adopting strategies such as collaboration, partnerships, and market expansion among others. For instance, in August 2023, Raytheon, an RTX company, reported that its Geostationary Littoral Imaging and Monitoring Radiometer, or GLIMR, sensor has passed the Critical Design Review and is now in the construction and test phase of the program. NASA selected GLIMR to be its first hyperspectral imager in geostationary orbit. GLIMR will capture and process data from the entire electromagnetic spectrum, including visible light, infrared, and ultraviolet frequencies, to provide a highly detailed picture of physical and biological conditions in coastal seas.

The Report Covers 

• Market value data analysis of 2023 and forecast to 2031. 
• Annualized market revenues ($ million) for each market segment. 
• Country-wise analysis of major geographical regions. 
• Key companies operating in space sensors market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report. 
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future. 
• Analysis of market-entry and market expansion strategies. 
• Competitive strategies by identifying ‘who-stands-where’ in the market.