Satellite Bus Market Size, Share & Trends Analysis Report By Size (Large, Medium, Small, Nano), By Subsystem (Electrical Power System, Attitude Control System), By Application, By Region, And Segment Forecasts, 2024 - 2030

Satellite Bus Market Size, Share & Trends Analysis Report By Size (Large, Medium, Small, Nano), By Subsystem (Electrical Power System, Attitude Control System), By Application, By Region, And Segment Forecasts, 2024 - 2030

Satellite Bus Market Size & Trends

The global satellite bus market size was estimated at USD 13.44 billion in 2023 and is projected to grow at a CAGR of 7.24% from 2024 to 2030. The increasing demand for satellite-based services across communication, earth observation, navigation, and scientific research is driving the demand for efficient satellite buses. Furthermore, the demand for reliable and efficient satellite buses has surged with increasing investments by governments and private entities in space exploration and satellite technology. This demand is further fueled by advancements in technology, which is expected to further fuel market growth in the coming years.

Smaller satellites, such as nanosatellites and microsatellites, are becoming increasingly popular due to their lower launch costs and versatility in applications. This push towards smaller satellites has led to innovations in satellite bus design, allowing for reduced weight and size without compromising functionality.This trend reduces launch costs and allows for the quick deployment of satellite constellations, enabling global coverage for various applications. As a result, manufacturers are increasingly focusing on developing compact satellite buses that can accommodate diverse payloads while maintaining operational efficiency. This trend of miniaturization of satellite technology is expected to further fuel the market expansion in the coming years.

The growing trend of satellite constellations, which enhance communication and data collection capabilities, is boosting demand for satellite buses that can support complex systems. Satellite constellations, particularly those in low Earth orbit (LEO), consist of numerous small satellites working to provide global coverage and high-speed connectivity. This architecture allows for improved bandwidth and reduced latency, making it ideal for applications such as broadband internet, remote sensing, global navigation, and other missions.Satellite buses must accommodate the specific payloads and functionalities required for each satellite's mission, thus driving innovation and investment in satellite bus technology to meet the evolving demands of the market.

The increasing utilization of electric propulsion systems is transforming the dynamics of the global market. Electric propulsion offers enhanced maneuverability, fuel efficiency, and longer mission lifetimes compared to traditional chemical propulsion systems. This shift towards electric propulsion aligns with growing environmental concerns and regulatory pressures to reduce space debris and improve sustainability in space operations. Consequently, satellite bus manufacturers are investing in research and development to integrate electric propulsion technologies into their offerings.

Moreover, there is a rising emphasis on on-orbit servicing capabilities, which allows satellites to be refueled or repaired while in space. This trend necessitates versatile satellite bus designs that can support such operations, thereby extending the lifespan of satellites and maximizing return on investment for operators. The ability to perform maintenance tasks in orbit represents a significant advancement in satellite technology and opens new avenues for service providers looking to enhance their operational capabilities.

Global Satellite Bus Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global satellite bus market report based on size, subsystem, application, and region:

• Size Outlook (Revenue, USD Billion, 2018 - 2030)
• Large
• Medium
• Small
• Nano
• Subsystem Outlook (Revenue, USD Billion, 2018 - 2030)
• Electrical Power System
• Attitude Control System
• Structure and Mechanical System
• Communication and Data Handling Subsystem
• Propulsion System
• Thermal Control
• Application Outlook (Revenue, USD Billion, 2018 - 2030)
• Communication
• Earth Observation and Meteorology
• Navigation
• Research and Exploration
• Security & Surveillance
• Others
• Regional Outlook (Revenue, USD Billion, 2018 - 2030)
• North America
• U.S.
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Asia Pacific
• China
• Australia
• Japan
• India
• South Korea
• Latin America
• Brazil
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

Please note The report will be delivered in 4-8 business days upon order notification.