The era of satellites, particularly for earth observation, began many years ago in 1957 with the launch of the Sputnik 1 satellite, which was launched with a radio, thermometer, and battery. However, the Space-based smart sensors and electronics component industry has come a long way in decades. Manufacturers are adopting miniaturization in the components and enabling stacking multiple components on single circuits. Earlier, satellites used to be huge in size and with heavy payloads. However, with the help of MCUs, the resultant electronic circuits became small and less complex and consumed less power. This resulted in the advent of small satellites, which is currently major traction in the overall space industry.

Small satellites use a large part commercial off-the-shelf (COTS) component with up-to-date technologies such as micro electromechanical systems (MEMS), active and passive de-orbit, rapid prototyping, on-orbit servicing, plug-and-play systems, improvement of resolutions, in-orbit autonomy, altitude knowledge and control, and on-board power. With the increasing popularity of small satellites that operate in low Earth orbit (LEO) for three to five years, space-based smart sensors and electronic components require less degree of validated components and are manufactured with COTS. Commercial components can potentially save the costs indulged in the testing and validation process in addition to implementation since real-time operating systems and software tools, which are commercially available, can be employed on them.

In addition, there are components with XXK radiation that are equipped in spacecraft for one month. Such electronic components can be equipped in small satellites and space agencies, and companies are undertaking huge research and development (R&D) activities to develop reliable COTS electronic components.

The growth in the space-based smart sensors and electronics market is majorly attributed to significant technological advancements across the electronic components, especially active components such as microprocessors and field-programmable gate arrays (FPGAs). The ecosystem of the space electronics market comprises system manufacturers, original device manufacturers, and end users. The market is mature in countries such as the U.S., Russia, China, and Japan, and is gaining popularity in countries such as India, France, and Germany.

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The competitive landscape of the space-based smart sensors and electronics market consists of several organic and inorganic strategies followed by the key players to increase their market share. The strategies include product innovations, contracts, partnerships, acquisitions, and business expansions, among others.

Some of the key players in the global space electronics market include BAE Systems, Cobham PLC, Honeywell International, Texas Instruments Inc., The Boeing Company, Xilinx Inc., Microsemi Corporation, STMicroelectronics N.V, TT Electronics, and Solid State Devices Inc. These companies are aiming for a wide range of product launches and collaborations to expand their operations and increase their market presence globally to generate revenues and attract new customers.

With the increased capabilities and growing dependence on satellites for both commercial and government uses, the need for reliable, safe, and powerful electronics components has increased significantly over the decades. The industry is currently focusing on developing high-efficient, low-weight electronic component products that can be used for several years. The research study is based on extensive primary interviews (in-house industry players, market leaders, and experts) and secondary research (a host of paid and unpaid databases), along with analytical tools to predict the forecast analysis for the study period. With the help of these, the space-based smart sensors and electronics study provides a broader perspective of the industry.