Atomic Clock Market to Achieve US$ 819.8 Million by 2031, at a Steady CAGR of 7.2 %: Transparency Market Research Inc

The global atomic clock market is primarily driven by the expansion of satellite navigation and global positioning systems as well as the rising need for precise timing in several industries

Wilmington, Delaware, United States, Aug. 31, 2023 (GLOBE NEWSWIRE) -- The global market for atomic clocks was estimated to have acquired US$ 439 million in 2022. It is anticipated to advance with a 7.2% CAGR from 2023 to 2031 and by 2031, the market is likely to gain US$ 819.8 million.

The accurate reference signals generated by atomic clocks are transmitted to the Earth and used by navigational devices. These devices can calculate their positions with accuracy by monitoring the length of time it requires for signals to land at the receiver from various satellites. Applications like accurate navigation and disaster management heavily rely on this precision. This is anticipated to aid in the expansion of the atomic clock market over the forecast period.

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Market Snapshot:

Report CoverageDetails
Market RevenueUS$ 439.0 Mn
Estimated ValueUS$ 819.8 Mn
Growth Rate - CAGR7.2% 
Forecast Period2023-2031
No. of Pages160 Pages
Market SegmentationType, Application, End-use  
Regions CoveredNorth America,Europe,Asia Pacific,Middle East & Africa,South America
Companies CoveredAccuBeat Ltd.,ADVA Optical Networking (Oscilloquartz),Chengdu Spaceon Electronics Co., Ltd.,Excelitas Technologies Corp.,Frequency Electronics, Inc.,IQD Frequency Products Ltd.,Microchip Technology Inc.,QuantX Labs,Space Innovation,Stanford Research Systems

Key Findings of Market Report

  • The need for atomic clocks is benefiting from the development of satellite navigation and global positioning systems.
  • Globally, atomic clock applications in GPS and GNSS systems are expanding.
  • These systems may provide precise location and timing information because of the accuracy of atomic clocks.

Market Trends for Atomic Clocks

  • The global market has been divided into rubidium, hydrogen, and cesium atomic clock types based on type. The cesium atomic clock category is predicted to account for a significant market share over the forecast period, according to the TMR atomic clock market analysis.
  • Atomic clocks made on cesium are reliable and flexible. They are extensively used in a range of applications, including as GPS, scientific research, telecommunications, and precision measurement tasks.
  • Precise time is important in an interconnected society where speedy communication, accurate financial transactions, as well as navigation are critical. Utilizing the continual oscillations of atoms, atomic clocks provide unparalleled precision and guarantee synchronization in networks and systems.
  • Atomic clocks guarantee the smooth operation and dependability of modern, data-driven processes. It is anticipated that the demand for atomic clocks would expand over the next years due to the growing requirement for precision timing.

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Atomic Clock Regional Market Outlook

Various reasons are propelling the growth of the atomic clock market in different regions. These are:

  • North America is anticipated to rule the global market during the forecast period. The expansion of end-use industries as well as increasing research and development expenditures on space exploration are major drivers of market growth in the area.
  • It is projected that the size of the atomic clock market in Asia Pacific would expand gradually in the near future due to the growing need for precise timekeeping across a variety of industries, such as transportation, communication, and scientific research. Government as well as academic institutions for use are buying atomic clocks in the region's global positioning systems. The market trajectory in Asia Pacific is also expected to be improved by this.
  • Business is also growing quickly in Europe at a steady pace due to the increase in space research activities in the region.

Global Atomic Clock Market: Key Players

The atomic clock market is highly concentrated, with a few number of manufacturers holding the lion's share of the market. The most recent atomic clock market prediction indicates that businesses are employing cutting-edge tactics like new product development and research and development to improve their competitiveness. To increase income, manufacturers are making significant investments in infrastructure and cutting-edge technology.

The following companies are well-known participants in the global atomic clock market:

  • AccuBeat Ltd.
  • ADVA Optical Networking (Oscilloquartz)
  • Chengdu Spaceon Electronics Co., Ltd.
  • Excelitas Technologies Corp.
  • Frequency Electronics, Inc.
  • IQD Frequency Products Ltd.
  • Microchip Technology Inc.
  • QuantX Labs
  • Space Innovation
  • Stanford Research Systems

Developments by the key players in the global market for atomic clock are:

Market Player Year Key Developments 
Microchip Technology 2023 
  • The 5071B cesium atomic clock was unveiled.  
  • It can maintain time autonomously for months in the event of GNSS failures.  
  • This new commercial atomic clock is small, transportable, and appropriate for use in scientific settings. 
Adtran, Inc. 2023 
  • Adtran, Inc. improved its Oscilloquartz PNT Platform, in order to increase the dependability of the critical network infrastructure that relies on navigation, location, and timing services.  
  • The new timing method preserves essential PNT functions while detecting interruptions. 
Safran 2022 
  • The company announced the opening of three new manufacturing facilities in India.  
  • It also disclosed plans to build a major plant by 2025.  
  • The company, which has 750 workers and 10 sites, is reiterating its adherence to the government's sovereignty strategy and "Make in India" program. 

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Global Atomic Clock Market Segmentation   

  • Type 
    • Cesium Atomic Clock 
    • Hydrogen Atomic Clock 
    • Rubidium Atomic Clock 
  • Application 
    • Navigation 
    • Communication 
    • Radio Astronomy 
    • Space Exploration 
  • End-use 
    • Military & Defense 
    • Aerospace 
    • IT & Telecommunication 
    • Government 
    • Research & Development 
    • Others (Telecom, Broadcasting, etc.) 
  • By Region 
    • North America 
    • Europe 
    • Asia Pacific 
    • Middle East & Africa 
    • South America 

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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