Satellite Bus Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Satellite Bus Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global satellite bus market size reached US$ 13.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 19.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.

A satellite bus, also known as a spacecraft bus, refers to the structural body and primary system of a satellite comprising power, temperature control, and directional thrusters. It also consists of a life support subsystem for human-crewed missions. It provides control of the satellite and support services to the mission payload. At present, there is a considerable rise in the use of satellites for navigation, communication, and climate and environment monitoring, which is positively influencing the requirement for satellite buses across the globe.

Satellite Bus Market Trends:
Increasing investments in space programs by governments of numerous countries around the world currently represents one of the key factors bolstering the growth of the market. Moreover, satellites can detect underground water and mineral sources, monitor the transfer of nutrients and contaminants from land into waterways, and measure land and water temperatures, the growth of algae in seas, and the erosion of topsoil from land. They can also efficiently track large-scale infrastructures like fuel pipelines that need to be checked for leaks, which would require enormous hours of land- or air-based inspection. Besides this, satellites allow meteorologists to monitor the weather globally, enabling them to follow the effects of phenomena like volcanic eruptions. This is creating a positive outlook for the market. Nowadays, satellite buses can accommodate reconfigurable payloads, smart power systems, and onboard propulsion technologies, which is also impelling the market growth. Furthermore, satellite launch costs are reducing on account of improvements in reusable rockets and the rising utilization of flexible launch sites. This, coupled with the increasing number of satellites launches worldwide, is anticipated to facilitate the growth of the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global satellite bus market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on subsystem, satellite size and application.

Breakup by Subsystem:

Structures and Mechanisms
Thermal Control
Electric Power System
Attitude Control System
Propulsion
Telemetry Tracking Command
Flight Software

Breakup by Satellite Size:

Small
Medium
Large

Breakup by Application:

Earth Observation and Meteorology
Communication
Scientific Research and Exploration
Surveillance and Security
Mapping
Navigation

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Airbus SE, Ball Corporation, Centum Electronics Limited, Honeywell International Inc., Israel Aerospace Industries, Lockheed Martin Corporation, Maxar Technologies Inc., NanoAvionics Corp. (AST SpaceMobile Inc), NEC Corporation (AT&T Corporation), Northrop Grumman Corporation, Sierra Nevada Corporation, Thales Group and The Boeing Company.

Key Questions Answered in This Report

1. How big is the global satellite bus market?
2. What is the expected growth rate of the global satellite bus market during 2023-2028?
3. What are the key factors driving the global satellite bus market?
4. What has been the impact of COVID-19 on the global satellite bus market?
5. What is the breakup of the global satellite bus market based on the subsystem?
6. What is the breakup of the global satellite bus market based on the satellite size?
7. What is the breakup of the global satellite bus market based on the application?
8. What are the key regions in the global satellite bus market?
9. Who are the key players/companies in the global satellite bus market?