Satellite Bus Market

Satellite bus is a structural body and primary system of a space vehicle, which carries all essential components used in a satellite. In addition, a satellite bus is a general model on which multiple-production satellite spacecrafts are based. The satellite bus is used as a transport mechanism for satellite payload wherein the necessary equipment of a satellite are placed. All satellite buses are similar in make-up, although each spacecraft is different in shape and size depending on the size of satellite. The architecture of the satellite bus supports all spacecraft hardware, including payload instruments, which are designed to be used in a space mission.

Factors such as increase in investment by governments and space agencies, new product launches in the satellite manufacturing market and launch systems, and increase in number of satellite launches drives the growth of the market. However, factors such as lack of clarity in government policies, and stringent government regulations for implementation and use of satellite hinder the growth of the market. On the contrary, factors such as increase in incorporation of new technologies and advancement in satellite mission technologies offer lucrative growth opportunity for the market.

The satellite bus market is segmented into subsystem, application, satellite size, and region. By subsystem, the market is segregated into structures & mechanisms, thermal control, electric power system, attitude control system, propulsion, telemetry tracking command, and flight software. By application, it is segregated into earth observation & meteorology, communication, scientific research & exploration, surveillance & security, mapping, and navigation. By satellite size, it is segregated into small, medium, and large. Region-wise, the satellite bus market has been studied across North America, Europe, Asia-Pacific, and LAMEA.

There is growth in satellite launches in recent years due to rise in technological advancements, rise in demand for connectivity, and emergence of private aerospace and defence companies. Furthermore, rise of smaller, cost-effective satellites such as CubeSats has made it easier for startups, universities, and emerging countries to join space exploration projects, which is further driving the market for satellite bus. In addition, rise of mega-constellations projects, such as SpaceX's Starlink, Amazon's Project Kuiper, and OneWeb, aims to provide high-speed internet access globally. These projects require frequent launch of thousands of satellites, further driving the demand for satellite launches. In addition, governments globally are deploying more satellites for defence and surveillance operations.

For instance, the U.S. government agencies have used commercial sensor satellites to identify the illegal activities in maritime. For instance, in August 2023, the U.S. Space Force imagery unit utilized commercial sensor satellites to detect illegal fishing boats and monitor other activities during a military exercise in South America. In addition, commercial satellite imaging is increasingly used in various sectors, including defense, construction, transportation, and others, which acts as a key driver for the global market. Increase in security concerns and introduction of new technologies such as GPS satellites, advanced remote sensing technology, high-resolution cameras, light detection & ranging (LIDAR) technology, and electric propulsion technology further contribute toward the growth of the market. Thus, development of satellite technology is anticipated to drivethe growth of the satellite bus market during the forecast period.

However, government policies around the world affect the growth of satellite industry, currently there is no robust global or domestic on-orbit regulation regime in place. Across the U.S., strict regulations have been introduced to govern launch & re-entry of satellites into the space. However, on-orbit activities, including assembly and space-based space situation awareness (SSA), or RF mapping, are not covered by these regulations, which hampers the growth of the market across the globe. In addition, more than 70 countries around the world are engaged in satellite operations. However, there is no common understanding, and only few signs indicate that a clear global framework will emerge beyond the basic guidelines of the Outer Space Treaty. While operators have expressed an interest in developing regulations that would provide investors with clarity, there are concerns about strengthening regulations that could force companies to relocate from one country to another. Since the schedules of satellite operators and policymakers do not always align, and as significant effort is required to establish international agreements, creating policies and regulations for the commercial space industry is expected to hinder the market growth for the next ten years.

The key companies profiled in the report include Airbus S.A.S, Ball Corporation, Israel Aerospace Industries Ltd. (IAI), ISRO, Lockheed Martin Corporation, Mitsubishi Electric Corporation, Northrop Grumman Corporation, Sierra Nevada Corporation, Thales Group, and The Boeing Corporation.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the satellite bus market analysis from 2023 to 2033 to identify the prevailing satellite bus market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the satellite bus market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global satellite bus market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Subsystem

Structures and mechanisms
Thermal control
Electric power system
Attitude control system
Propulsion
Telemetry tracking command
Flight software

By Application

Earth observation and meteorology
Communication
Scientific research and exploration
Surveillance and security
Mapping
Navigation

By Satellite Size

Small
Medium
Large

By Region

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Ball Corporation
Lockheed Martin Corporation
Airbus
Northrop Grumman
Boeing
Mitsubishi Electric Corporation
Sierra Nevada Corporation
ISRO
Thales
IAIThe research methodology of the global market involves extensive primary and secondary research. Primary research includes about over 12 hours of interviews and discussion with a wide range of stakeholders, including upstream and downstream participants. The primary research typically is the bulk of our research efforts; however, coherently supported by extensive secondary research. Researchers have reviewed over 6,765 product literatures, industry releases, annual reports, and other such documents of key industry participants to obtain better market understanding and gain competitive intelligence. In addition, authentic industry journals, trade associations' releases,and government websites have also been reviewed for generating high-value industry insights. Show more