The report on the Space on-board computing platform market provides a detailed trend analysis from 2018 to 2027. It discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities that influence the growth of the market.
MarketsandMarkets: The Space on-board computing platform market is estimated to be USD 1.3 billion in 2022 and is projected to reach USD 2.3 billion by 2027, at a CAGR of 12.1% from 2022 to 2027.The market is driven by various factors, such as use of advanced payloads in satellite systems for several military & commercial applications, increasing use of Space on-board computing platforms in communication satellites, and technological advancements in Space on-board computing platform.
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Based on Application, navigation satellite segment of to account for the largest share of the space on-board computing platforms market in 2022. Based on Application, the navigation satellite segment is projected to grow from USD 695 million in 2022 to USD 1,225 million by 2027, at a CAGR of 12.0% during the forecast period.
Medium satellite segment is estimated to account for the largest share of space on-board computing platform market by Platform, during the forecast period.
Based on platform, the medium satellite segment is projected to grow from USD 780 million in 2022 to USD 1,381 million by 2027. This segment accounted for 59.6% of the market in 2022 and is expected to grow at a highest CAGR of 12.1% during the forecast period.
S-band segment is estimated to account for the largest share of the Space on-board computing platform market by communication frequency, during the forecast period
Based on communication frequency, the S-band segment is expected to lead the Space on-board computing platform market during the forecast period. This segment accounted for a share of 28.0% of the market in 2022.
North America is projected to grow at a highest CAGR of 13.5% during the forecast period. North America is estimated to account for a share of 62.5 % of the Space on-board computing platform market in 2022. The market in this region has been studied for US and Canada. The Middle East market is projected to grow from USD 818 million in 2022 to USD 1,538 million by 2027, at the highest CAGR of 13.5% during the forecast period. US is one of the major global player present in the North America, which invests heavily in the development and use of Space on-board computing platforms.
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