The DC-DC converter market for space is a rapidly growing industry. DC-DC converters are electronic devices that convert the direct current (DC) from one voltage level to another, making them essential components for a wide range of applications in space. These converters are used in various space-based equipment, including communication satellites, scientific research probes, and navigation systems.
The increasing demand for high-performance electronics in space has led to the development of more efficient DC-DC converters. These converters are designed to operate in harsh environments with extreme temperatures, radiation, and other challenging conditions that are typical in space. This has created a significant opportunity for companies specializing in developing and producing these converters.
DC-DC Converter Market for space is likely to witness a moderate CAGR of 3.2% during the forecast period. Increasing concern towards global energy consumption, growing demand in present requirements by the ICT industry, introduction of advanced power-saving architectures, and the emergence of digital power management and control technologies are the major factors expected to bolster the growth of the global DC-DC converters market during the forecast period.
Some of the major players in the DC-DC converter market for space are-
Airbus Group SE, Asp Equipment GmbH, Crane Aerospace and Electronics, Infineon Technologies AG, Modular Devices Inc., Microsemi Corporation, Synqor Inc., Sitael S.P.A, Thales Group, and UTC Aerospace Systems.
In terms of regions, the global DC-DC converters market in the Asia-Pacific region held the largest market share in 2018, followed by the Americas. The region is likely to continue its dominance during the forecast period. China, Japan, and Taiwan are the major producers of electronic devices, such as laptops, air conditioners, and cell phones, among others, which is likely to bolster the demand for DC-DC converters to a great extent.
In conclusion, the DC-DC converter market for space is expected to experience significant growth in the coming years due to the increasing demand for space-based services and the development of new space exploration projects. This market is expected to be driven by the need for more efficient, lightweight, and compact equipment for space applications.