The latest research study “Satellite Bus Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global satellite bus market size reached US$ 12.93 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 18.62 Billion by 2027, exhibiting a CAGR of 6.15% during 2022-2027.
What is Satellite Bus? How Big is Satellite Bus Market?
A satellite bus, also called a spacecraft bus, represents the structural body and preliminary system comprising of temperature control, power systems, and directional thrusters. It also contains a life support subsystem for human-crewed missions. A satellite bus includes various components, such as propulsion, thrusters and mechanisms, electric power, attitude control, flight software, etc. It provides control and support services to the mission payload. As a result, satellite buses find widespread applications in navigation, communication, climate and environment monitoring, earth observation and meteorology, mapping, surveillance and security, etc.
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Covid-19 Scenario: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The launch of several policies by the government bodies across the globe to invest in space programs is among the primary factors driving the satellite bus market. Besides this, the escalating product demand for detecting underground water and mineral sources, monitoring the transfer of nutrients and contaminants from land into waterways, measuring land and water temperatures, and the development of algae in seas is further augmenting the market growth.
Moreover, the elevating need for satellite buses by meteorologists to monitor the weather and follow the effects of phenomena, including volcanic eruptions, is also catalyzing the global market. Apart from this, the rising utilization of flexible launch sites and the increasing improvements in reusable rockets are acting as significant growth-inducing factors. Furthermore, the introduction of intelligent power techniques, reconfigurable payloads, and onboard propulsion technologies is anticipated to propel the satellite bus market over the forecasted period.
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Satellite Bus Market Report Scope |
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Report Coverage |
Details |
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Market size value in 2021 |
US$ 12.93 Billion |
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Market forecast in 2027 |
US$ 18.62 Billion |
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Growth Rate |
CAGR of 6.15% from 2022 to 2027 |
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Base year for estimation |
2021 |
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Historical data |
2016-2021 |
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Forecast period |
2022-2027 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Subsystem, Satellite Size, Application and Region |
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Regional scope |
North America, Europe, Asia-Pacific, Latin America, Middle East and Africa |
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Key companies profiled |
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. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
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Customization preview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Report Segmentation:
The report has been segmented the market into following categories:
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
By Geography:
• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa
List of Major Key Players:
The major players in the market are 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.
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