This growth is mainly attributed to the rise in the number of satellite constellation worldwide, emergence of new power architecture and digital power management and control.The demand for cost effective and high performance power system is also one of the major factors driving the growth of DC-DC converters market for space.
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The rise in the paid TV market and need for communication satellites across the globe have propelled the demand for efficient space DC-DC power modules. This segment is projected to dominate the market during the forecast period.
Among the output voltage segment, the 3.3 VDC is projected to grow at a comparatively higher CAGR during the forecast period. This growth is due to innovation in the field of digital power management and control introduced by market players to support the power systems of newly launched satellites and spacecraft.
The Asia-Pacific region is projected to grow at a higher CAGR in the DC-DC converters market for space due to the emergence of rising paid TV market. The paid TV market is growing at a faster rate in the Asia-Pacific region due to growing demand for paid TV channels. This growth will increase the number of satellite launches in the region, which will drive the DC-DC converters market for space as power devices are essential equipment to keep the satellite operational in the space.
The key players operating in the DC-DC converters market for space are Crane Aerospace and Electronics (U.S.), Infineon Technologies Inc. (Germany), Microsemi Corporation (U.S.), Vicor Corporation (U.S.), Synqor Inc. (U.S.), and Modular Devices Inc. (U.S.).
The report segments and analyzes the DC-DC converters market for space on the basis of application (remote sensing, surveillance, communication, navigation and scientific research), output power (100W) and output voltage (3.3 VDC, 5 VDC, 12 VDC, 15 VDC and others) and maps these segments and subsegments across four major regions, namely, North America, Europe, Asia-Pacific, RoW (Rest Of World).