Satellite Bus Market

Global Satellite Bus Market Size (2023 to 2028)

The global Satellite bus market size is expected to be worth USD 11.46 Billion in 2023. It is expected to grow at a CAGR of 5.97% during the forecast period and reach a value of USD 15.31 Billion by 2028.

The underlying body and essential arrangement of a space vehicle allude to a satellite bus. The satellite bus holds all the logical gear and other fundamental parts of the satellite. The satellite bus is utilized as a vehicle instrument for a satellite payload. Although each satellite is not quite the same as one another in term of size and shape, all satellite bus is comparative in cosmetics. The satellite bus comprises a few subsystems, each with an interesting reason. The underlying subsystem comprises the essential construction of the rocket and supports all the space apparatus equipment, including the payload instruments. Circle control subsystems (station keeping) help in supporting a satellite in its legitimate circle area. Satellite warm control frameworks are created to control the huge warm inclinations produced in the satellite.

MARKET DRIVERS:

Expansion in the number of satellite dispatches, relocation of satellites to geostationary circles, and expansion in the number of room investigation missions are some of the main considerations that drive the satellite bus market. Conflictingly, mechanical headways in the bus segments are required to additionally contribute to the development of the worldwide satellite bus market later. 

Satellites are being utilized widely for a few purposes, for example, setting up correspondence organization, reconnaissance, military applications and routes, TV broadcasting (D2H), and others. Additionally, satellites are being utilized to handle 21st-century difficulties, for example, environmental change, asset executives, and catastrophe relief. Because of such wide utilization of satellites, nations across the globe have been every now and again dispatching satellites. Consequently, the request for satellite buses has been likewise expanding with the ascent in the number of satellite dispatches, and in this way, driving the satellite bus market. 

MARKET RESTRAINTS:

Factors, for example, intricacy issues identified with bus subsystems, scant scholarly resources, and administrative difficulties, may go about as restrictions for the development of the satellite bus market.

Impact of COVID-19 on the Satellite Bus Market:

Easing back signs in the economies of a few nations have been seen because of the COVID-19 impact, which may restrict governments' interest in their space associations. Such a decrease in the venture will straightforwardly influence the market negatively. Because of COVID-19 circumstances, the creation of new satellites across the globe has been hampered because of complete lockdowns of businesses and government limitations on voyaging, which has likewise hampered the interest in satellite buses. The examination and advancement of satellite buses have been antagonistically influenced by the proclaimed lockdowns and travel limitations caused by COVID-19. 

Request in the satellite bus market may ascend in the future as overall governments have begun to extricate the limitations, and dispatching of the new satellite is normal in the not-so-distant future. Excesses of a few space projects have been made during the pandemic. Such activities are relied upon to get into shape post-COVID-19 circumstances, which will add to the significant ascent in popularity of the satellite bus market.

REPORT COVERAGE:

This research report on the global satellite bus market has been segmented and sub-segmented into the following categories.

Satellite Bus Market - By Size:

• Small
• Medium
• Large

Satellite Bus Market – By Application:

• Earth Observation & Meteorology
• Communication
• Scientific Research And Exploration
• Surveillance
• Security
• Mapping
• Navigation

Satellite Bus Market – By Subsystem:

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

Satellite Bus Market – By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa 

North America dominated the satellite bus market in 2022. The US government is progressively putting resources into the satellite bus industry to improve the abilities and productivity of satellite buses and dispatch vehicles. Notwithstanding, the satellite bus market in the Asia Pacific district is required to develop at the most elevated CAGR during the figure time frame. The Asia Pacific is viewed as a worthwhile market for homegrown and provincial satellite bus makers, and subsequently, the expansion in the advancement of satellites is ascribed to bolster the demand of the satellite bus market.

Countries within the Asia-Pacific region, such as China, Japan, and India, among others, are rapidly increasing space investments, thereby generating demand for satellite buses with regional companies like the Indian Space Research Organization, China Academy of Space Technology (CAST), and Mitsubishi Electric among others taking the bulk share of the market in their respective countries. The increasing government and private investments in the space industry are some of the key growth factors for the market within the region.

KEY MARKET PLAYERS:

Vital participants profiled in the satellite bus market report incorporate Orbital ATK (US), Inc., Lockheed Martin Corporation (US), Thales Alenia Space (France), Airbus Group (Netherlands), and China Academy of Space Technology (China), among others.       

RECENT HAPPENINGS IN THE MARKET:

• In August 2020, Sierra Nevada Corporation disclosed two new satellite stages intended to offer expanded payload limits with regard to MEO and different circles. The SN-200M variation explicitly adjusts SNC's SN-200 bus for MEO. 
• The SN-1000 is an exhibit stage dependent on the SN-200M bus flying an Evolved Expendable Launch Vehicle (EELV) Secondary Payload Adapter (ESPA). The two satellites expand on the US Air Force Demonstration and Science Experiment (DSX) program. Since conventional satellite makers are not the sole financial backers of the market in the center, an extreme change in the market elements is expected to arise. Subsequently, to hold their serious edge, some satellite endeavors have plans to make satellite buses, space frameworks, payloads, or subsystems and segments in-house to augment the income and benefits.