Atomic Clock Market to Garner US$ 668.58 Million, Globally, by 2027 at 6.2% CAGR: The Insight Partners

Atomic Clock Market to Garner US$ 668.58 Million, Globally, by 2027 at 6.2% CAGR: The Insight Partners

“The Insight Partners”
High Demand from Metrology Station Owing to Time-Sensitive Applications Drives Demand for Atomic Clock Market during 2020-2027

According to our latest market study on “Atomic Clock Market Forecast to 2027 – COVID-19 Impact and Global 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),” the market was valued at US$ 418.73 million in 2019 and is projected to reach US$ 668.58 million by 2027; it is expected to grow at a CAGR of 6.2% from 2020 to 2027.  

Strategic Insights        

Report Coverage

Details

Market Size Value in

 US$ 418.73 Million in 2019

Market Size Value by

 US$ 668.58 Million by 2027

Growth rate

 CAGR of 6.2% from 2020-2027

Forecast Period

 2020-2027

Base Year

 2020

No. of Pages

 142

No. Tables

 56

No. of Charts & Figures

 72

Historical data available

 Yes

Segments covered

 Type and Application

Regional scope

 North America; Europe; Asia Pacific; Latin America; MEA

Country scope

 US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage

 Revenue forecast, company ranking, competitive landscape, growth factors, and trends

 

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North America led the global atomic clock market with 34.58% revenue share in 2019, followed by Europe and APAC. Increasing organic and inorganic strategic developments—such as product launches, and mergers and acquisitions—among the market players support the atomic clock market growth in North America. For instance, the US government agency introduced a new atomic clock in April 2014 to enhance civilian timekeeping standards. Smart Grid Mexico, a non-governmental organization, was launched in 2014 to promote the development and execution of technological solutions in the energy industry in Mexico to increase its efficiency. 

In 2019, Europe stood second in the atomic clock market with a share of 29.68%, and it is anticipated to witness a steady CAGR from 2020 to 2027. The growth of the atomic clock market in Europe is attributed to the increasing number of projects focusing on atomic clock development. For example, a new EU project on ultra-accurate atomic clocks was announced in May 2016. Researchers from nine different European countries, including France, England, Germany, and Denmark, are collaboratively working on this project. In September 2019, Orolia Defense & Security completed the acquisition of Talen-X, a US company specializing in advanced Global Navigation Simulation System (GNSS) solutions and Interference, Detection, and Mitigation (IDM) technologies. Similarly, in May 2017, Orolia—one of the world leaders in Resilient Positioning, Navigation, and Timing, also known as PNT solutions—announced the acquisition of Netwave Systems, Zoetermeer, Netherlands.

Impact of COVID-19 Pandemic on North America Atomic Clock Market

The US is one of the largest markets for atomic clock especially in military and aerospace sectors. Due to the COVID-19 outbreak, the slump in the development of telecom infrastructure and funding of new research projects in various sectors is hindering the overall atomic clock market. The impact of the pandemic is severe in companies—especially small and medium-sized companies—involved in space, military, and defense R&D activities. However, it is expected that space, defense, and telecom sectors would be able to cope up in the coming months, and the demand for atomic clocks would grow from 2021 onwards.

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High Demand from Metrology Station Owing to Time-Sensitive Applications Drives Demand for Atomic Clock

Since invention in the middle of the twentieth century, atomic clocks have undergone huge developments and improvements. Various applications of atomic clocks in metrology and fundamental physics have been made possible by the constant improvement in their accuracy and stability. Therefore, owing to the time-sensitive applications, there is a high demand for atomic clocks from meteorology stations. GNSS satellite positioning also depends on the propagation that the signal takes to travel from the satellite to the receiver. Therefore, the position error is implied; thus, navigation systems rely on the performance of the clock. In addition, atomic clocks are also used in terrestrial stations for synchronizing clocks in orbit and characterize time systems. Also, they conduct the following research activities in metrology:

Atomic Clock Market: Competitive Landscape and Key Developments

AccuBeat ltd., Excelitas Technologies Corp., IQD Frequency Products Ltd., Leonardo, Microchip Technology Inc., Orolia, Oscilloquartz, Stanford Research Systems, Tekron, and VREMYA-CH JSC are among the key players in the global Atomic Clock market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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Companies adopt market initiatives to expand their footprint across the world and meet the growing demands from customers. The players operating in the atomic clock market are focusing on the development of advanced and efficient products. They maintain their brand name globally by signing partnerships, contracts, joint ventures, and funding, as well as inaugurating new offices across the world. Most of the market initiatives observed in North America, APAC, and Europe are:

In 2018, Orolia got selected for the Galileo Global Navigation Satellite System (GNSS). Under contracts totaling €26 million, Orolia delivered the most stable and accurate timing solutions available.

In 2017, IQD Frequency Products Ltd., became part of the Würth Elektronik eiSos Group, thus expanding Würth Elektronik’s existing selection of passive components with a comprehensive range of quartz crystals and oscillators.

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