A growing count of public and private initiatives that are related to space exploration programs, for example, moon exploration is estimated to increase sales opportunities in the space on-board computing platform market in the coming years.
Further, the rising number of missions to explore mars and the moon in the coming years is anticipated to open up new growth opportunities in the space on-board computing platform market. The growing incidence of trade in space on-board computing platforms is also predicted to drive growth avenues in the space on-board computing platform market.
Space on-board computing platform is serving as the pivotal core of spacecraft avionics which further provides assistance in the management of different operations in small satellites and related IO devices to perform assigned tasks. Furthermore, growing demand for these platforms from the sector of national security and defense is also expected to fuel sales avenues in the space on-board computing platform market.
On the flip side, the absence of various cohesive government policies and regulations is anticipated to limit growth opportunities in the space on-board computing platform market in the coming years.
The key players dealing in the space on-board computing platform market are BAE Systems, Northrop Grumman Corp., Thales Group, SAAB AB, L3harris Technologies, Raytheon Technologies, Lockheed Martin, and Honeywell International Inc.
North America Owing to Presence of Key Players Dominate in Space On-board Computing Platform Market
North America is projected to hold the largest share in the space on-board computing platform market due to the presence of prominent players in the region. Along with this, the use of various small satellites for different low-priced applications has also been predicted to work as revenue generators in the space on-board computing platform market. A growing count of missions related to space exploration in the region is also likely to bolster revenue generation opportunities in the space on-board computing platform market.