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

NEW YORK, UNITED STATES, February 15, 2022 /EINPresswire.com/ -- 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.  

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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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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.

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. This program further integrates the community of collaboration and exchange that encourages smart grids in the country. Such initiatives are anticipated to propel the demand for atomic clocks during the forecast period.

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

The US is one of the largest markets for atomic clocks,s, especially in the 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 characterizing time systems.

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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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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