Report : Europe Atomic Clock Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Rubidium Atomic Clock and CSAC, Cesium Atomic Clock, and Hydrogen Maser Atomic Clock) and Application (Space and Military/Aerospace, Scientific and Metrology Research, Telecom and Broadcasting, and Other Applications)
At 6.1% CAGR, the Europe Atomic Clock Market is speculated to be worth US$ 214.22 million by 2028, says Business Market Insights
According to the Insight Partners’ research, the Europe atomic clock market was valued at US$ 149.87 million in 2022 and is expected to reach US$ 214.22 million by 2028, registering a CAGR of 6.1% from 2022 to 2028. Increasing need for a high precision atomic clock in aerospace and Military and next-generation chip-scale atomic clocks (CSACs) are the critical factors attributed to the Europe atomic clock market expansion.
The Europe atomic clock market 's growth is mainly attributed to the increasing need for a high precision atomic clock in the aerospace and military sectors. Atomic clocks are flown on Global Positioning System (GPS) satellites to ensure a precise one-way range measurement for the user to maintain the transmitted GPS signal's phase precision. When uploads of time signals are temporarily inaccessible from the GPS ground station to the satellite constellation, these clocks often act as flywheels to maintain GPS synchronization. Recent technological improvements in the GPS atomic clocks demonstrate the power of Precise Time and Time Interval (PTTI) for the warfighter. For rubidium clocks flown on GPS Block II Replenishment (IIR), there is much greater stability than those on GPS Block II / IIA. With the improved clocks, the range error is almost halved. Such varying accuracy improvements allow a GPS receiver to enhance aerospace and military positioning and time outputs proportionately. In June 2022, Thales and SYRLINKS, a specialist in satellite radiocommunications, radionavigation systems and miniature atomic clocks collaborated together to develop the next-gen atomic clocks for civil and defence applications. The two companies have signed an ambitious multi-year contract with the French defence procurement agency (DGA) to develop a new generation of very small, high-performance atomic clocks. These initiatives are helping to grow the Europe atomic clock market.
On the contrary, high cost and complexities associated with atomic clocks hurdles the growth of Europe atomic clock market.
Based on type, the Europe atomic clock market is segmented into rubidium atomic clock and CSAC, cesium atomic clock, and hydrogen maser atomic clock. The rubidium atomic clock and CSAC segment held 55.0% share of the Europe atomic clock market in 2022, amassing US$ 82.49 million. It is projected to garner US$ 121.15 million by 2028 to expand at 6.6% CAGR during 2022–2028.
Based on application, the Europe atomic clock market is segmented into space and military/aerospace, scientific and metrology research, telecom and broadcasting, and other applications. The space and military/aerospace segment held 47.2% share of the Europe atomic clock market in 2022, amassing US$ 70.71 million. It is projected to garner US$ 104.98 million by 2028 to expand at 6.8% CAGR during 2022–2028.
Based on country, the Europe atomic clock market has been categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that Russia captured 21.6% share of the Europe atomic clock market in 2022. It was assessed at US$ 32.37 million in 2022 and is likely to hit US$ 46.74 million by 2028, exhibiting a CAGR of 6.3% during the forecast period.
Key players profiles in the Europe atomic clock market report are AccuBeat Ltd; Excelitas Technologies Corp; IQD Frequency Products Ltd; Leonardo SpA; Microchip Technology Inc; Orolia; Oscilloquartz SA; Stanford Research Systems Inc; Tekron International Ltd; and VREMYA-CH JSC, among others.
Oct-2020, Microchip Technology Inc. acquired Tekron International Limited. This acquisition bought Tekron's knowledgeable team and widely adopted products to the synchronization and timing offering that has become indispensable in the rising digital, networked world.
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